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4 Ideas to Boost Sales Right Now
4 Ideas to Boost Sales Right Now
The political fight for president of the United States is over and a clear winner has emerged. But the economy continues to struggle.
The Dow dropped 9.7% in just the last two days, the unemployment rate today jumped to a 14-year high, and companies are reporting dismal financial results during one of the worst financial years in nearly a century.
In fact, I heard an expression that "10% down is now the new flat". Meaning that a 10% drop in sales is now considered the norm.
I don't accept that. I know some companies are hurting - I'm working with some of them right now. But I don't believe that you have to accept things as they are.
In fact, one chiropractic office I'm working with boosted its sales 65% in just one month. I give them a lot of credit. They called me in September and the next day they were on a plane to my center in Baltimore where we picked apart their marketing and sales to figure out how they can boost their income. As soon as they returned to their offices, they began to put in place our recommendations.
They refused to accept the idea that they needed to suffer along with everyone else. Neither should you.
4 strategies to boost sales now
Here are 4 suggestions to help you turn things around in your business.
1. Give your fish a reason to believe. If you're just to compete by offering better prices, better quality and better service, you're making a mistake. Those things aren't enough.
You must first give your customers a reason to believe you. You must establish credibility by speaking your prospect's language and by identifying with their needs. Be specific. If you promise faster delivery, say you offer delivery in 30 minutes or it's free. Use testimonials and endorsements from customers to build credibility and overcome anticipated objections. Demonstrate and offer proof why they should believe you.
2. Put to work the power of PASS, which stands for Pain, Agitate, Solve and Solution. Identify your prospects pain, agitate it, and solve it in a story. Find your prospect's pain, agitate it with your advertising and then solve it with your product. Using emotional "hot buttons" such as fear, pleasure or desire you can propel your prospect to buy your service. The secret is to tap into what your customers want. If people don't have a "want" then people aren't going to buy. People first buy based on emotions and then they rationalize it based on logic.
Once you've identified their pain, agitate it a bit. Let them know how much worse things may get, if they don't solve it. If they have a fear of loss, what problems could they face? What negative impact could occur? Give your prospects a mirror so they can see themselves in the story you're telling in your marketing. He who controls the story wins! Then show how you can resolve their pain or meet their wants with your product or service. If they have a desire to look good, show your prospects how much better off they'll look with your solution.
3. Create scarcity and urgency. Make your product exclusive and give prospects a reason to buy from you now. The idea plays on the "fear of loss" and a sense among prospects that they might miss out. Fear of missing out on something is a powerful motivator. E-Bay uses both scarcity and urgency by advertising the availability and the deadline to submit a bid. Bidders get caught up in the excitement and the competition.
4. Free your offer of risk with the law of risk reversal. For you to move your prospect through your marketing funnel, you must absorb ALL the risk. Reverse the risk so all the risk of buying from you is on you - not your customer. There are so many barriers of trust between you and your potential customers.
Your main goal in risk reversal is to eliminate those barriers. The more hurdles that you remove, the better off you are. Offer a warranty or a money-back guarantee if you don't deliver within a certain time or if you don't perform against an expectation to take away the risk for the prospect. Example: one restaurant consultant offers a double-money back guarantee that says he will "double your restaurant's profits in 119 days or less - even in a tough economy! Or get a full refund."
Strategies like these turn businesses around - no matter what economy we're in. How do I know? Because I've seen it work over and over and I'd like nothing better than to see these strategies work for you.
Try just one. Let me know how it goes. I'd love to hear from you.
Taking you from where you are to where you want to go,