No one hands you a guarantee of success when you start your small business. Unlike being an employee, your showing up on time every day doesn't promise a steady income, let alone a thriving business.
However, getting plenty of sales is a step in the right direction. Fortunately, there are several straightforward ways that small businesses can increase sales. Here are three important ones:
Use Landing Pages
If a substantial amount of your business comes from online sales, then you should be using landing pages. You or your marketing people work hard to bring traffic to your website. There's no sense in wasting this effort by sending traffic to your home page. Many of your visitors won't find your offer, while others will become distracted by other things on your website.
A landing page is built entirely around a specific offer. There are no elements that will distract your traffic. Because of this single focus, you will get substantially more sales from the same levels of traffic.
Encourage Repeat Business
It takes far less money to get repeat sales from loyal customers than it does to get new ones. While new customers are necessary, repeat customers give your company more predictable and stable business. They also tend to buy more over time and may refer others to your company.
It's important that you encourage new customers to do more business with you and to keep your existing loyal customers happy. You can do this proactively by putting together a customer loyalty program that rewards repeat business with incentives such as discounts, rebates, free shipping, free services, or free gifts.
Use the 80-20 Rule
There are several ways of stating the 80-20 rule. For the business person, the 80-20 rule says that 80% of your results will come from only 20% of your efforts. We're not saying you can chart out the data to come up with a precise 100%, but this general rule has been observed in many diverse fields, including business.
You can apply the 80-20 rule to many aspects of your company. For example, you should send new traffic to your top performing landing pages, that is, the 20% that bring 80% of your sales. Likewise, the 20% of your repeat customers responsible for 80% of your profits should get the most attention and the best rewards and incentives. Finally, focus on the parts of your business that have the greatest impact on its success. Delegate and outsource the other tasks.
If bookkeeping and accounting are diverting your attention away from running your business, we can help. Contact us today to learn more.