5 Ways To Generate More Sales With Minimal Cost

“You have to spend money to make money” is the old adage. Generally this piece of wisdom has proven true, but that doesn’t mean you have to decrease your profit margin to grow your sales numbers. Successful entrepreneurs have found that there are plenty of marketing strategies that are extremely effective that cost little or no cost to implement. Here’s the top five.

1. Package Bundles. Improve your up-sells by making popular items part of a package bundle that encourages customers to gain additional value by buying a package versus single items. Make sure salespeople are well trained on how to present the package advantages.
2. Face-to-face. As high-tech as the business world has become, there is still nothing that sticks with a person more than a face-to-face conversation. Become a social butterfly and attend networking events whenever possible. Take note of personal interests and other opportunities to continue personal contact with top leads.
3. Customer Referral Rewards. A lead that comes from a current customer is bound to be a strong one. Encourage your customers to refer their friends and family and reward them when they do so. The reward can be a free gift or a special discount. The value of the reward is seldom of much consequence to customers who are already sold on your service or product.
4. Loyalty Rewards. Encouraging current customers to keep coming back can be much easier than trying to bring in new customers. Reward your customers for continuing to visit your business and make purchases. Your best customers should receive the best discounts.
5. Community Events. Make sure that the movers and shakers in your community are familiar with your business name by being involved in community related events and particularly those with a charitable focus. Building a strong reputation within the community will keep your business on the A list.

If you’re wondering which of these strategies you should use to generate more sales for your business, follow another old adage – “Don’t put all your eggs into one basket.” Combining multiple strategies will bring you the best results.