After the holidays, many businesses struggle with a significant decline in sales. This transition can be especially difficult when a business’ products or services are heavily tied to a certain season. Slow sales can have devastating effects on small businesses, driving them into the red and effecting the bottom line. Still any business can generate and maintain generous sales with a few tried and true strategies.
Offer Free Demos or Samples
Consumers love free trials and samples. Allowing consumers to try your product or service for free will introduce them to your products without a commitment. Offering free demos or samples requires a small investment by the business which is why so many businesses fail, as they are not willing to make this small sacrifice. The provision of a free product or service gives the consumer the opportunity to use the product and integrate it into their lives. This builds loyalty and bonding, so once the free period is done, the consumer buys it in order to keep it in their lives.
Promos and Pop Ups
Pop-up sales are annual sales that “pop up” in your store or online that are not necessarily a weekly occurrence. The trick to the pop-up is that they must happen enough so that consumers anticipate them, without occurring so much that they are expected. The point of a pop-up sale is to keep consumers checking in to your store or website, enabling sales and fostering loyalty.
Any good business will tell you to separate the returning customer from the one time stop shopper. Even online stores rely on the returning customer to keep their sales afloat. So these customers should be rewarded. Initiating a reward system will make consumers loyal and new consumers anxious to become a reward earner.
Host an Event
This method is a bit old hat, but still rings true. Host an in-person or online event where new products and prices are tastefully displayed. Offer competitive sales prices for the day, take a variety of photos and post them to your social media pages so that new customers are aware of the great offerings with your company.
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