8 Best Ways To Increase Sales Of Your Products

Share

Are you looking for best ways to increase sales of products in your business?

If so, look no further.

Here are 8 best ways to improve sales of your products:

Ways to increase sales: Advertising 

You need to advertise your business in order to increase sales of your products.

In the business world as of now, there are more sellers than buyers.

Besides, the dollars are no longer easy to come by as they used to be.

Consequently, advertising your products is a smart way to fight competition and move on.

For best results, you should ensure that  your outgoing ads materials contain all  relevant information about your business.

Examples are:

  • Contact details
  • Website address
  • Products you offer
  • Business hours
  • Tell customers about changes to your services,
  • New product launches and improvements
  • And the benefits they stand to get by buying your products

You can use advertisements to change people’s attitudes and perceptions of your business.

It can also help to create or develop a unique product or service for your business to help you stand out from the crowd.

Identify your target customers

You should identify your audience and direct your ads to meet their needs.

There are many advertising channels that you can use.

Effective but inexpensive channels include:

  • Face book
  • Twitter
  • Instagram
  • Pinterest
  • LinkedIn.

Furthermore, you should use ads in media that can touch the heart, soul and spirit of your  potential customers to make them buy from you.

More importantly, you should remember that you have a duty to ensure that your advertisements are legal, decent, honest and truthful.

Proper packaging can help you to increase sales of your products.

You may ask “how”

Product packaging covers the entire process of designing, manufacturing and enclosing the product before selling.

Essentially, packaging services are to protect the products inside. 

In addition, packaging must be good enough to:

  • Keep the product safe during shipment between the manufacturing facility and the retailer.
  • Prevent damage while the product is on display in the shelf
  • Differentiate two products packed in a similar way.
  • Provide detailed information to the consumer who may be looking to buy
  • Make the product attractive
  • Help you to fight competition.

For example, if  you are selling nutrition product, packaging strategy can provide the following information:

  • Nutrition information,
  • product measurements,
  • instructions or the purpose of the product
  • uses and abuses.

All of the above can help your customers to decide whether to buy the product or not.

Therefore, product packaging is quite an important component of marketing and advertising strategy that you cannot afford to ignore.

Ways to increase sales: Promotion

Promotion may be defined as ” an  activity intended to help sell a product or service”.

Moreover, promotion is the component of the marketing mix strategy that uses various communication tools to let your present and potential customers know about the value of your company, products or services.

Furthermore, you can also use it to focus on the long-term objectives of your business.

Promotion can enable you to achieve your goals in the following areas:

  • Get rid of products nearing expiry dates

  • Products experiencing low demands

  • Items almost overtaken by changes in technology

  • Promotion can help you to increase sales

  • Make your products more popular

Most importantly, promotion can help you to put your put your products in front of potential customers.

Ways to increase sales: Attract New Customers

Sales promotions are typically used as a strategy to attract buyers who do not want to buy at your regular selling prices.

You can use sales promotion to attract new customers to your business.

In other words, those who do not know your business and products can get to know them. When they do know, even if they do not buy immediately, they can buy in the future.

Moreover, you can use sales promotion strategy if you want to:

  • Build a customer base, such as at a grand opening,
  • Take advantage when a competitor goes out of business
  • Survive in a highly competitive industry.

For example, you can use sales promotions for a product you have identified as a “loss leader,” to lure reluctant customers into your store. By so doing, you can sell other more profitable items to them.

At end of the day, what you get from the profitable products and the little you can get from the loss leaders, can add up to your bottom line.

Increase Revenue

Usually, increasing revenue is another common goal of sales promotions.

Often, sales promotions reduces your profit potential.

However, they allow you to generate more revenue in the short run due to increased sales volume.

Consequently, high sales volume can help you to improve your cash flow.

This explains why companies struggling to meet urgent financial obligations often turn to discounting the selling prices of their products to enable them to increase sales and improve their cash flow.

Therefore, to increase your revenue, you may need more customers to buy more products at the reduced prices.

Inventory Reduction

Effective sales promotions can help you to keep an optimal level of stocks and inventory.

Carrying excess stocks and inventory can cause you losses due to high carrying costs, such as rent, damages due to poor packaging or handling.

For example, if you want to maintain an optimal level of stocks and inventory, you can arrange for your sales promotion to take at the end of a busy season.

This is because, at that time, you will have sold off all the slow moving stocks, leaving the fast selling products.

Although, sales promotion can result in gross losses on excess inventory, you can at least, get some revenue instead of throwing out expired or obsolete products.

Ways to increase sales: Marketing 

Marketing is defined as the activity of trying to sell a company’s product by advertising, using attractive packages.

Effective marketing can help you to drive foot traffic to your store.

In other words, marketing is the process of getting people to be interested in the goods and services you provide.

Furthermore, if you have a website, your can market your products or services online through your website.

If you have the right marketing strategies, you can start to attract quality audience to your website.

Eventually, some visitors to website can convert, thereby increasing sales revenue.

Please note that for you to successfully market your products on your website, your website must be:

  • Fast
  • Responsive
  • Mobile friendly,
  • Reliable.

You can use marketing to improve your entire sales process:

  • producing informational materials
  • Helping sales reps to address the concerns of existing and potential customers
  • Make them buy from you
  • Improve buyers’ perception of sales efficiency.

Most importantly, with the right value proposition, your sales team can begin to hit the millions and you can begin to see yourself smiling to the bank.

Read: 10 Effective Ways To Prevent Your Business From Failing

 

 

By Samuel Ijenhi, B. Sc. Accounting,

(University of Benin)

Benin City, Nigeria.

Founder: Ijenhi Business Solutions

Info@samuelijenhi.com.ng

About Samuel Ijenhi

A graduate in Accounting, University of Benin, Benin City, Edo State, Nigeria.
View all posts by Samuel Ijenhi →