How to improve retail sales for pennies on the dollar.
Are you curious to discover how to improve retail sales without spending a fortune to do so, even if you’ve got more competition than the latest tryouts for American Idol?
A tall order for sure, but not if you approach the dilemma from a creative marketing perspective.
Q.) Do you think you could walk into your local bank and borrow several hundred thousand dollars (at zero percent interest) on your signature alone?
Probably not even if (both) Bill Gates and Warren Buffet agreed to cosign for you. 😀
But (believe) it or not, right within your own local business community there is a reputable source (or sources) that you could approach about short term financing at zero percent interest (plus) you may not need to sign any loan papers at all.Say what?
More on that powerful concept in just a moment. For now, let’s focus on:
How To Improve Retail Sales By At Least 25% In The Next 90 Days Or Less! (And Savev A Staggering 25-50% Off The Traditional Cost As You Do So!)
Strictly for illustration purposes only: let’s suppose you own a small local Mom & Pop bar and grill that caters primarily to young people (20’s to early 30 somethings) and local college students of age.
Which means from Thursday -Saturday night (early) Sunday morning; your goal is to sell a ton of beers & wings!Correct? 😀
And one of the simplest ways to accomplish that is by having as many thirsty and hungry patrons in the place as you can legally withstand.
So let’s first focus on an incredibly simple way to increase your body count, without spending the traditional fortune to do so.
Next you’ll focus on how to get as high a percentage of them as possible to come back as often as possible, (again) without spending the proverbial fortune to get them to do so.
Just Make Sure Your Target Marketing Strategies And Or Tactics Are Constantly Tested And Tweaked and You’ll Definitely Start To Notice A Profitable Difference!
Plus, focus on how to inexpensively get them to systematically spend at least 25% more than usual.
And finally, your all important exit strategy. Huh? Meaning- as their about to depart, what can you do to trigger their return.
A quick note regarding your exit strategy. You can (and should) start at the beginning to implement an incredibly effective “word of mouth” exit strategy. Huh?
Think about this for just a second. Remember what happened the last time you had a really popular local band appear at your place?
Yea, that’s right; you ended up turning away a small fortune in profit that night because your spot was over populated. And because you had no choice, you simply had to turn them away.
A Properly Constructed Sales Funnel Is A Proven Asset Which Will Never Ever Go Out Of Style!
So what (and how) does that affect your future attempts at improving your retail sales?Simply this cadets; from now on when that (potential) long term profit opportunity happens again.
Make sure you have two or three of your valued associates strategically placed outside and as they inform the patrons that (sadly) you’ve reached overcapacity, don’t just let them leave empty handed.
And head elsewhere to spend some of their money and help build someone else’s business. Instead do two simple things to help stimulate some really powerful (positive) word of mouth buzz for your establishment.
A.) If that nights over crowding happens as a direct result of a really popular local band appearing at your place;just make darn sure you get as many free (or at cost) copies of their latest CD as possible.
And for each patron that will give you a thumbs up on your Facebook page, you’ll gladly give them a copy of the bands latest CD. 😀
Consistently Implementing The Right Target Marketing Strategies And Or Tactics Will Definitely Put You Light Years Ahead Of Your Major Competitors!
B.) The other thing you can do is, give away X number of really nice ladies charm bracelets that typically retail for $100 dollars that you got from your local jeweler joint venture partner, at their actual cost of just $40 dollars a piece (or X) amount of dollars.
Give at least five of the guys a $20 dollar gas card, provided of course, they give you thumbs up on your Facebook page.
Think about what just happened here; you just turned X number of potential lost revenue producing customers for the night into raving fans and you just inexpensively leveraged their professional or personal inner circle too.
And you can bet a certain percentage of their social media contacts will check your business out; especially every time one of those women explain how and where they got (either) those really cool ladies earrings and or charm bracelet. 😀
Three Simple Ways To Improve Retail Sales Now!
1.) Strategy # one: After you’ve inexpensively tested the various giveaways and you know precisely which one(s) consistently produce the best bang for your buck.
Let’s say (for the sake of example) that you discover the ladies charm bracelet really does the trick. Depending on how many you (either) purchase at cost or your JV partner gives to you out right.
Any time you have to turn patrons away, give a few away in exchange for them giving you a heads up on your Facebook page.
Or any time the first X amount ladies purchase one of your top premium selling beverages.
2.) Strategy # two: In order to increase your typical (drink) order size you can inexpensively A/B split test two incredibly powerful approaches head to head.
A.) First, offer a free drawing to win a nice mens watch worth X amount of dollars (say) $250 dollars or more, to one grand prize winner that buys one of your top selling premium beverages within the next 30 mintes or less.
B.) Offer (say) five or (X) number of $20 dollar gas cards free to first five guys that purchase one of your top selling premium beverages or by ordering a large batch of buffalo wings and ice cold stuff to help wash it down.
Now just in case you’re still wondering about (how) and where you might be able to get zero percent interest financing from some local source(s) without having to fill out any type of paper work?
You Simply Have To Start Adding Some Bank Account Filling Direct Marketing Strategies And Or Tactics To Your Long Term Marketing Mix!
One of your local vendors (silly?) Say what? If you can adequately track and demonstrate your increase in overall retail sales, as a direct result of your think outside the box marketing strategies.
(BTW; do you see a really big potential money making concept in that last sentence? 😀 )
They may well decide that it makes far more sense to at least partially fund your marketing campaigns as opposed to constantly paying for outrageously expensive ads in local newspapers or expensive wimpy direct mail campaigns. that produce (on average) less than one percent response rates etc.
They may well decide that investing $1,500-$3,000 grand in your marketing campaigns yields them a much higher return on investment (ROI.)
And if they do decide to fund it, there’s no (tedious) paper work to fill out and no signatures needed for loans etc. (Eat your heart out Wall St.)
It’s Amazing Just How Profitable And Inexpensive The Right Customized marketing Strategies And Or Tactics Can Be And Or Become!
3.) Strategy # three: And lastly, how about a little guerrilla marketing in order leverage your local competition.
Meaning- any time you get wind that your competition is promoting some local event and there’s a pretty good chance they will become over capacitated.
Why not send a few associates there and place them outside of course and offer a certain percentage of the turned away patrons (both) your proven charm bracelets for the ladies and the $20 dollar gas card for the guys.
Provided they give your business a heads up on your Facebook page, and the real beauty is; you may be actually creatively leveraging one of your vendors actual customers employees.
So, you still got questions about how to improve retail sales?
As always, if you got any value out of this post, please Digg or tweet. Thanks!
And be sure you grab your explosive free 22 step small business marketing idea kit series. Because it will help you master your effective communication in marketing skills.
And it will help you increase your profits by at least 25% in the next 90 days or less. It’s a $97 dollar value and it’s free!
