Seven Ways to Grow your Business: Increase Conversion rate

There are just seven ways to grow your business. The first five grow your sales and the last two reduce your costs. In this blog we highlight actions you can take to turn potential customers into actual customers, so you can increase your conversion rate.

Tip! Run through the list below and see what opportunties are available to speak to your prospects more clearly and help them to make the decision to buy your goods and/or services.  

 

Invest in your brand:

  • Review logo and brand identity – is it due a refresh? 
  • Use quality brochures either hard or e-copies to communicate value to customers
  • Write a story book of your business to promote brand awareness
  • Display team member profiles on website to assist relationship building

 

Review your sales process:

  • Map your sales process and identify gaps areas for improvement
  • Track leads in a sales funnel (CRM) to assist contact with prospects
  • Target better prospects, particularly those customers and clients with shared values
  • Qualify leads more effectively to save time and manage expectations

 

Product offering: 

  • Continuously improve the quality of your offering
  • Address the pain points of your prospects, i.e. questions on price
  • Consider introducing loss leaders
  • Provide guarantees on proudct and services to show commitment and build trust

 

Research competitors:

  • Are you clear on what differentiates your business?
  • Communicate why should prospects choose you?

 

Product promotion:

  • Weekly / monthly specials
  • Random one-off offers
  • Flash sales
  • Promote before and after pictures
  • Create product comparison sheets
  • Product demonstration
  • Product / service pricing menu
  • Address prospect  objections
  • Display your awards
  • In store merchandising
  • More effective sales copy
  • YouTube / Vimeo sales demo
  • Point of sale displays

 

Upskill your sales team:

  • Provide sales training for team members
  • Ask for the sale
  • Articulate your vision and purpose
  • Educate on value, not price
  • Ask questions and listen
  • Send appointments and reminders by text message
  • Under promise, over deliver
  • Offer sales incentives

 

Payment options:

  • Offer varied payment methods
  • Offer easy payment terms

 

Delivery options:

  • Offer online shopping
  • Enable home delivery

 

Get social proof:

  • Follow up customers/clients following delivery
  • Survey past customers for feedback
  • Utilise testimonials and case studies

 

Sales offers:

  • Make ‘today only’ offers
  • Give away samples
  • Give away ‘product with purchase’
  • Offer free trials
  • Promo codes
  • Offer gift voucher towards purchase
  • Sell an exclusive range
  • Offer a free consultation

 

Which of the above ways is the easiest and cheapest to implement for you?

There are  ideas above which will appeal to some but not all business.  Reflect on how well you are doing in covering these areas.  Ideally, you will start with a Marketing Plan to identify who you want to talk to and find out where they hang out and how they like to be communicated to.

“People don’t buy what you do, they buy why you do it.” – Simon Sinek

Need any help to get started with the next steps for your business, get in touch, we’re happy to help.

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