Increase Sales by Lowering Risk

increase sales

Are people no longer buying your product or service? It might not be the price or competition, but rather the risk. Increase sales by lowering the risk in what you offer.

Business owners are afraid of losing money, market share and, most importantly, their business. As a result, they stick to what they know and miss out on growth opportunities to increase sales by letting the competition overtake them.

Increase sales – Lower the risk

One way to mitigate risk to break down your product. Suppose you’re a wedding photographer who sells just one service with all the bells and whistles. You offer coverage of a full event, unlimited digital photos, a photobook and a photo studio session. It’s the complete package.

But because you only have one product to sell, your small business stands to lose almost everything if nobody’s buying it. Customers want the most value at the cheapest cost. The solution is to unbundle your services.

Increase sales – Sell multiple products or services

Break down what you offer clients and put a price on each component. You can either offer different parts of your service separately or create silver, gold and platinum packages.

Sticking to the photography business example earlier, you could sell separate services for a photo shoot and on-location events, or sell cheaper packages for parties and engagements.

Increase sales – Offer information

You will encounter people who are interested in what you do. Perhaps, somebody, you meet at an event or a visitor to your website will have questions about your product. So be sure to have information ready to meet that curiosity.

A lot of people don’t know how to describe their product or service, and so they’ll just ramble something that doesn’t make sense. Don’t do that. Because you don’t want to frighten interested customers.

You need to have a really good elevator pitch. Give listeners credible information that builds trust and, makes them feel safe about buying from you. Keep your words concise and your data relevant, and most of all exude confidence when you speak. People buy from people who believe in their product.

 

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