Share, , Google Plus, Pinterest,

Posted in:

Five ways to increase sales in any economic climate

The quickest way to fall prey to business failure or be outperformed in an ailing market is by doing nothing.You should still persist with your strategies to increase sales even in an economic downturn. Do not wait for the economy to improve before taking action. One has to be innovative and adaptively learn to market products and services in the toughest of economic climates. Here are five ways to uplift sales in any business climate.

Take advantage of trends
Use current trends by aligning yourself to client needs and observing consumer patterns. When clients see you participating in current trends and gaining a better understanding of them and their needs, they are more inclined to engage with you due to the common thread.

For instance, if your company name is ‘Refresh’, and you find an increasing number of dissatisfied clients (within your online industry circle) complaining about lack of knowledge and poor service, you can run a #AskRefresh campaign on social media platforms. This kind of sensitivity and adaptability to one’s market will increase sales even in the face of economic downturn. This is a great opportunity to depict legitimate value and flaunt your knowledge as an industry ‘authority’.

Use the media
Produce an informative press release or contact your local media outlet about a special development, such as a new acquisition or expansion of relevance to the community at large. Newspapers and television are constantly scouting for topical stories as well as relevant industry insight for their respective audiences. You can capitalise on this with quality newsworthy content – and boost sales even when seasonal shifts come into play.

Introduce new ways to better service clients
Find new and exciting ways to help your clients – surprise them for the better (and continue to do so even when everyone seems to be wallowing in how bad the market is). A good example is accompanying a customer to the correct aisle, instead of simply pointing to another area of the store. Customers appreciate knowing you care about them – and that your care isn’t seasonally fluctuating with any change, crisis or market shock. Go ahead and give them reasons why they should always knock on your door first.

Build long-lasting client relationships
Create a reliable and dynamic customer database with which you can contact clients on a regular basis. This will keep your brand at the forefront of their minds and transcends any economic climate. Send them postcards on special holidays, birthday cards, sale notices, newsletters etc. However, never be gimmicky or overbearing, this will be counterproductive in the relationship and your legitimate follow-ups may simply end up in spam folders. Entrenching relationships with this type of personal touch will keep customers coming back even when others are struggling to keep doors open.

Evaluate your time
Spend more time with important tasks that invest into the longevity of the business, not just in putting out fires. This includes the marketing strategies you have been putting off as less important, the focus on improving customer relations, time to implement new strategies to expand your service offering and so forth. Whether you have a big or small business, it is important to strategise on how you will increase sales in the face of predictable and unforeseen market movements.

You can increase sales despite economic variants – whether slight or extreme – by being dedicated and following these simple methods. Take less favourable shifts as an opportunity to refresh you brand strategy and come up with new and exciting ways that will help grow your brand in the long run. In bullish markets, simply go all out to capture available sales and other business opportunities.

Proudly brought to you by the National Small Business Chamber (NSBC).