Interim Management Tips to Drive Sales Through Repeat Customers
The only way to increase your cash flow is to increase sales. Through strategic planning and good customer service, interim management by executives promise higher revenue and profit.
There are three sales strategies and interim management tips every business can adopt to increase sales, and boost cash flow and profit.
Interim Management Tips #1: Increase sales with the number of transactions
This is especially important for businesses with products that customers will most likely not purchase again in their lifetime or the next couple of years. Products that will be a one-time buy, like a wedding ring, house, bed, mirror, etc.
Companies that specialize in things that are not repeat-purchases, must create strategies to bring customers back. Start selling complementary services or products to give customers a reason to revisit. Or set up a referral program that gives them points or a discount if they refer you to a friend.
Interim Management Tips #2: Close larger sales deal with each customer
Once you have a new customer, you must think of ways to increase the size of the sale. If they are satisfied with their purchase, you can draw them back with the support of good customer service, and up-sell them to a more expensive item or cross-sell them to additional products you offer.
Don’t let a first-time customer step outside the door without a purchase no matter how small. Give them a deal or discount on their first product, and if they like it, they’ll be back for your primary product.
Interim Management Tips #3: Increase frequency to increase sales
Companies that sell products which are replenishable need to capitalize on that repeat business and make sure that their customers are coming back to them. This is prevalent in brands that sell products in grocery stores like food, toiletries, and cleaning items; or in places that offer personal services like haircutting, cleaning, or car repair. Offer deals and discounts for repeat purchases and try not to lose them to your competition.