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| Sales person doing work on his computer Image: unsplash.com |
Zvi Sperling, the executive vice president of Maxim Lighting and the vice president of Maxim Group Companies, handles finance and sales for the business. Over four decades, Zvi Sperling has helped Maxim Group Companies increase sales around the globe.
Regardless of the industry or the business plan you have in place, increasing sales is essential to improving your bottom line. Here are a few low-cost ideas to boost your company’s sales:
- Analyze existing customers’ behavior. Your current customers are some of the greatest assets you have. It’s less expensive to sell to an existing customer than to bring in a new customer. Throughout the year, make a point of analyzing your customers to see if they are struggling with any aspect of your product. Further, consider changing your approach to customer retention so it focuses more on personalized service and creates a positive shopping experience.
- Establish a referral system. Setting up a referral system won’t cost you much money or time, but it can dramatically increase your sales. A referral system relies on word of mouth to drive sales and encourages current customers to share their positive experiences with friends, family members, and others. In return for bringing in new business, current customers receive free monthly services, products, or a simple thank-you card.
- Drive traffic with social media. When they were created, most social media sites simply fostered communication among users. Today, social media has expanded to become a marketing platform. Using social media for marketing gives you an effective way to reach new customers without spending a large sum of money.
