Any business owner or marketer worth their salt is always on the lookout for new and innovative ways to increase sales. There are many different ways to go about this, and the right “recipe” for success ultimately comes down to your particular business and your unique customer base.
However, there are some golden rules to increasing sales which apply to every type of business, whether you’re the proud owner of a local independent coffee shop or you represent a multinational retailer with stores in 50 countries.
- Make sure your prices are competitive
The key to constantly attracting new customers and expanding your brand is to be competitive in your pricing. This is a balancing act between tracking your competitors’ pricing and adjusting yours accordingly, while still making sure you’re able to turn a profit and sustain your business model.
- Train your employees to be helpful and knowledgeable
Your employees are the face of your business, so it’s important to ensure they embody the customer experience that you’re trying to create for your valued customers, who should feel welcome when they come into your store. Investing in targeted employee training will pay off in the long run by reinforcing your brand values, which in turn will increase customer satisfaction and boost sales.
- Offer incentives and discounts to loyal customers
At the foundation of any good loyalty marketing campaign lies a well-structured rewards program. Find new and exciting ways to incentivise customers to return again and again – think bigger than standard “Buy X, Get Y” programs and consider ways to incorporate VIP perks like free shipping, skip-the-queue benefits and early access to seasonal sales into your loyalty offering.
As much as you want to encourage repeat business, the Holy Grail of loyalty marketing is to create brand ambassadors who refer new customers to your business. For those wondering how to increase sales in retail, this is a sure-fire way to do it.
- Market your store online and via social media
When it comes to marketing your business online, there’s no limit to the ways in which you can use social media to your advantage these days. From good SEO and paid advertising to clever strategies like gamification, surprise and delight, personalisation and so on; online marketing is worth the investment (especially when you get creative!).
- Analyse foot traffic data for actionable insights
Before implementing any of the techniques listed above, first and foremost you need to know who your customers are, what they want, how they behave and how you can continually exceed their expectations for a good customer experience.
Foot traffic data is at the core of unearthing all this information and more. By investing in state-of-the-art foot traffic analysis technology, you can make informed changes to your store layout, product selection, marketing campaigns and other components that play a role in increasing sales.
As an example, the Kepler System provides retailers with actionable insights to their retail store’s performance like never before, with tools that allow you to:
- Draw comparisons between foot traffic and volume of transactions, to determine precise conversion rates
- Gain a holistic overview of your retail store’s performance by integrating Kepler with your POS systems, roster software, Net Promoter Score metrics, inventory reporting software and other technologies
- Better understand your target customer, with customer profile and segmentation technology – who shops where, at what times, for how long and so on
- Track any given store’s progress towards daily sales targets in real-time
From standard store operations and visual merchandising, to property scouting and AB testing, the possibilities for increasing sales are endless with Kepler Analytics.
Request a demo
Trial the Kepler System today to see exactly how it can increase sales in your retail stores.
