“How do I make more sales and increase business profit?” This is the question that is constantly on every business owner and sales rep’s mind. It can be difficult to come up with strategies to increase sales on your own. Below are five tips that have helped me increase sales and profits. These pointers are ones I apply as a national sales director in the trucking industry, but feel free to tweak the advice to best suit your business or position in your company.
Always follow up with your customer and see how your pricing looked. If you lead a company that prides itself on good service, the customers might not mind spending a premium to use your services. However, the only way to know their budget is to ask and get feedback. Although you and the company may not be making as much as expected on your original quote, I find that doing a job at a reduced rate is better than not doing it at all and can open doors for future opportunities.
This may seem like an unlikely way to make more money, but this step could save you a ton in costs that aren’t pulling their weight. Take a look at all the things you offer the customer. Is there a program that could be cut without losing customer satisfaction? Maybe you could cut an outdated promotional service or drop that annual convention employees attend that isn’t bringing in a return.
Sometimes services are costly and don’t hold much value to the customer. In my case, we were paying to promote posts on our Facebook page almost weekly. Although it’s fun to show people the pictures of the big moves we handled, there was no real return on the effort. Moving forward, I made the decision to only pay to promote posts every couple of months that were worthy of the extra attention.
Try to be a little strict with yourself while you’re looking over your list of services, and try to see things objectively. Also, try to brainstorm and see if any of the services you offer could be simplified a bit — if not altogether discontinued.