Instead of wasting our time in answering questions like “What constitutes a small business?” and “What qualifies a business as a small business?”, I would like to share here some small-scale business tips that may prove to be very effective and helpful in drawing customers to and increasing sales of your business:
Tip#1: Look for the Innovative Ways of Marketing
In order to avoid competition while raising sales of your business, you need to look for the unconventional methods of marketing that are not being used by your competitors.
One way could be to print the small ad of a newly arrived product and mail it to the customers in the market being targeted. This ad may draw a lot of traffic to your site and is expected to cause a drastic increase in sales.
Tip#2: Always Offer a Cheaper Version of the Product
Some customers cannot afford the price being asked for a good quality product or service and would like to buy instead, a lower quality at a cheaper rate.
To avoid losing this class of customers, you would need to come up with a cheaper version of every product or service.
Tip#3: Always Offer a Revenue Boosting Version of the Product
There are customers who would make no compromise when it comes to quality of the product; they would not hesitate to empty their pockets if that’s what it costs them.
You could use this opportunity to your advantage and increasing your sales and total revenue by offering a premium version of every product and service you offer.
Tip#4: Advertise to Produce Sales
A small business cannot afford to advertise their products and services just to create name recognition and thus improve the future sales figures.
So, while advertising you would need to keep in mind that the sole purpose of advertising is to produce sales.
You may include an offer in your advertisement with the information required to help the user avail that offer.
Tip#5: Write Short Ads
The more the space an ad is going to take, the more would be the cost of running it; writing short ads will allow you run many ads for the same cost.
Tip#6: Create Your Social Media Presence
Having a social media presence would really help reaching your potential customers on Facebook, Twitter etc.
Tip#7: Use “I Scratch Your Back, You Scratch Mine” Approach
Given that small businesses cannot afford to spend a decent amount of money in advertising and publicizing their products and services, joint promotion seems to be a perfect solution.
You need to contact a non competing business man who’s serving your customers and offer him to publicize his products and services to your customers in exchange for his publicizing of your products and services to his customers.
Joint promotions strategy has proved to be really effective in increasing the sales at a very low cost.
Tip#8: Focus on Repeat Business From Existing Customers
Attracting new customers to increase your sales is not that easy a job in the competitive business world we are living in. It would require a large investment of time, money and effort.
It’s much easier to increase your sales with your existing customers. You can offer them incentives in the form of special deals and special discounts in order to encourage them continue their buyer-seller relationship with you.
Another way to improve your sales figures using existing customers would be to offer some incentives to them in exchange for their advertising and publicizing of the products and services of your company to their colleagues, associates and friends.
You could actually increase the pace of this way of advertising by using discount coupons. Discount coupon allows the first customer additional discount for each person he sends your way.