Cost-Sensitive Sales

If you’re struggling to make sales, or aren’t making the sales you want, chances are good that you’ve thought of all kinds of things you can do to have more sales including adding more products to your inventory, doing paid ads, moving to a trendier location, adding more sales people to your sales team, or redoing something (like your store, your products, your packaging, your website etc.) Some of these things can get to be expensive, and you may not have a lot to spend right now. Unfortunately, you may have to spend at least a little to get in some more sales, but there are somethings you can do to bring in more sales without raising the overhead too much. Today’s post is a little longer than usual but there are lots of ideas in it to help you increase sales and be more profitable.

First and foremost is addressing something that too many companies aren’t addressing in their marketing, including on their website and social accounts: who are you, why you do what you do, and what makes you different. Maybe you really aren’t much different as far as the products or services you offer, but because you’re running the business, your business is different than any other one out there. How you approach business, the people you hire, the things you offer are all a little different because you’re behind the business, but people don’t know that unless you say so.

Another thing you could try is reusing existing supplies or technology in new ways. For example maybe you buy decorative boxes that you sell as the packaging for your gift box sets (spa day, wine inspired, new baby etc.), but some people may be interested in buying just the boxes for their own purposes, so you could offer them as a separate purchase. For technology, maybe you do embroidery on shirts that companies buy to resell from you, but you could use the same technology to embroider logos on shirts for companies, or embroider initials on towels for hotels or for newlyweds.

You can also look for products that you can resell, including digital products and items that you never touch. For example if you create dog leashes you could find some products on Amazon to sell (aka drop shipping), or a digital video course on training your dog you can sell as an affiliate.

Another way to increase sales with a physical location is to give your location a fresh coat of paint and do the deep cleaning you may have been putting off. Everyone prefers to shop in a neat and tidy space. Even when the atmosphere suggests that it’s a dark and mysterious type location that doesn’t mean that you need to have dirty floors, peeling paint or a kitchen (or back office) that hasn’t been cleaned since you moved in.

As for the people-cost concern, something I’ve always suggested are working with interns from high schools and colleges. Adding them to your team even for 1-6 months gives you the extra hands or bodies you need and gives them real world experience that they can apply to their future job, gives them the opportunity to try something out, or fulfills that school credit they have to get in the community. Especially when it comes to technology students are great to work with because they know the technology far better than many because they’ve been exposed to it for longer and understand it in ways that it may take some of us years to ever get, if we ever get it at all.

There are lots of free and low-cost marketing opportunities as well, from social media to guest blog posts, to media interviews. The only catch there may be that you have to do the work of finding blog post and media opportunities and letting them know why they should share you with their audience.

Now, the question you’ve got is cost. Yes, depending on how you’ve had your website done or you’ve done your website there may be some cost there (if you don’t have a website set one up now using any number of free services or contact an agency or tech expert for help). You may also have to buy more of something you already buy, but there could be a good chance for a (higher) discount then and you could take advantage of that and spread the cost around. And yes, you may have to pay a minimum wage for the interns (many programs require it), but it’s usually far cheaper than what a regular employee would cost you (and you may decide to hire them later which would save you future training costs). Most of these suggestions though require more of your time than your finances, but all of them require that you really commit to doing better and helping more people. These are just a few of the ways you could grow your business and reinvigorate sales, what will you do today to move your company forward?

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