Wednesday, April 11, 2012

Tips on Increasing Sales Turnover in the Midst of Competition

Imagine if you open a business in the mall -which is quite a lot of competitors- How to increase sales turnover in the middle of this very high competition?

One way to increase the turnover of the business is by adding unique value to what we offer. I know that in some fields, competition is so tight. Even with the tough competition we have a challenge to be more creative and innovative in offering our products to the buyer. And look for what could be added value to the products we sell.

In selling one unit of product, the buyer can compare with other stores so that they look for the cheapest prices. Approach by providing low prices can be done if we have a large capital. Price war will eventually make our business in a difficult position.

So we need something else to attract buyers and make them come back to buy products from us. The sale price may be similar to other stores, but that distinguish is the added value that we provide. Additional promo for the product will make buyers prefer to buy products that we sell than from the next door.

Make a difference with other stores and thus be an added value for our store. The added value could have provide additional benefits, such as providing a longer warranty, for example if another mobile phone shop just give 1 year warranty from the official warranty, we can provide an additional 3 months warranty, which warranty service from our store. Alternatively, if other stores can only served if the customer comes into the store, then we can make a difference by providing a FREE service delivery. Or give the money back guarantee as well if the phone is not in accordance with the customers want.

Include the value added in front of our store with a clear and interesting. But make sure that it is correct and you can keep them. Do not be like a fuel efficient car advertisements, which then sued by consumers because it does not fit between the ads with reality.

Another tip is if a buyer purchases a product, we can offer additional products (at a discount price) to provide an explanation for the benefits of the product purchased. For example if the person is buying a phone so we can offer a scratch-resistant, soft case, extra battery, card, pulses and other accessories at discounted prices. So that we get not only profit from its core product, but also the additional gains from the sale of additional products.

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