Updated: April 12, 2021
7 correct ways to increase turnover Your business
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Creating a business is easy if we already know the knowledge, the difficult thing is to attract visitors and increase the turnover of your business. This problem will be easy if you have the correct strategy. What’s that? Here are 7 surefire ways to increase business turnover:
1. Get new customers
The first way, of course, to find new clients, the more clients you have, the greater the sales potential. If you are trying to increase your turnover by 100%, at least your business visitors are 2 times or more than usual. You can use advertising to get new customers. For example, Facebook ads, you will pay more for this. But look at the large number of potential and targeted visitors coming to your business. If your business is a Facebook fan page, this will be even easier. Visitors will flood your business fan page. The costs you spend will feel small compared to the benefits you get.
2. Expand the market
You can target a larger market, for example foreign markets. Or those of you who have only retailed so far can target the wholesale market. Use this medium of the Internet to expand your market. You can target your ads based on location, age, and even the interests of your prospects.
You may be busy getting new clients, but you don’t forget your old clients either. You can periodically send your subscribers a newsletter or offer products at special prices or offer special promotions.
4. Increase the average number of orders
Offer products that are relevant to the products in your customer cart. For example, a customer will order party sandals, so you can offer a party bag. Or it can appear, for example, when the customer is about to pay with a purchase of 200 thousand, then offer a 10% disc for a purchase of 250 thousand, etc.
5. Product expansion
This is the most effective way, namely product expansion. You can increase the variety of products in your business. You can take a look at the store next door and find out which products are selling well. Or if you are a reseller or dropshipper, you can look for other product providers to augment the products you are looking at. Product expansion, of course, requires market research first. The more products you offer, the more options you can attract your customers.
6. Increase prices
This is an old concept that still works. This is the simplest and most attractive way to increase business sales. Increase your price by a very small percentage. But for the record, you shouldn’t be raising the price of goods. You don’t have to do it for everything, just select specific products. It does not have to be in large quantities. If you increase your prices on all products by 5 percent, your income increases by 5 percent. The risk of losing a sale is there, but it is quite small. If the increase is around 15 percent, it will be very surprising, but not for a small increase of 1 to 5 percent.
7. Develop a reseller program
Create a reseller program. Provide simple terms and conditions. Currently, many people are interested in becoming a reseller. Give your resellers a sufficient commission percentage to get them excited about promoting your products on social media. With a reseller, you will see that the turnover of your business will increase many times.
Okay, I hope the information on the 7 strategies and how to increase business turnover will be useful for your business. I’m waiting for your comments and suggestions. And we look forward to interesting information and more updates.
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