Ways to Increase Sales in a Slow Economy

Sell More Items or Services During a Recession

Nov 29, 2008

As small businesses watch their sales dwindle, they are becoming desperate for ways to keep customers buying. Try some of these ideas for increasing sales.

When even big businesses are feeling the pain of a recession, small businesses have to try every trick of the trade to keep their companies afloat. As people spend less and try to save more, it can seem downright impossible to increase sales. For businesses that sell luxury items and services, things are especially tough, but even necessity based businesses, such as automobile mechanics are feeling the effect of a tight economy.

Team Up With Another Business

Have a coffee shop? Talk to the book store or the bakery up the street about working together to boost sales. Offer coupons for book discounts to people who buy a cup of coffee and have the bookstore offer discount coffee coupons to their customers. This encourages people to make a second stop on the same street and will help both stores make more sales.

Another option is to try setting up a small display in each store with the other store's goods on it. Add a big sign that announces that fresh coffee or great books are right next door.

For small town main street businesses or a small shopping mall, including all the stores in a promotional effort is a smart idea. Create a passport to savings that gives customers who make a purchase in each store and get their passport stamped at each location a discount at the store of their choice.

Offer Discounts to Repeat Customers

Many businesses are hesitant to offer a substantial discount to everyone who walks in the door because they fear that they will lose money to bargain hunters who have no plans to return until the next discount is offered. Rewarding repeat business is a great way to avoid this problem.

A customer loyalty reward card that is stamped or punched each time a customer makes a purchase is probably the simplest way to set up a repeat customer reward program. Cards designed for this purpose can be purchased, but a company can save money by investing in a small rubber stamp and printing a sign that explains the loyalty program instead. Then, when a customer makes a first purchase, the sales person grabs one of the company business cards, flips it over and stamps it. Each time the customer comes in, he or she needs to give the card to the sales person to collect another stamp. When the required number of stamps have been collected, the customer redeems the business card for a discount or free item. For example, a coffee shop may decide to reward loyal customers with a free coffee of their choice when they collect 20 stamps.

Teamwork and discounts for repeat customers may seem like overly simplistic solutions for increasing sales. However, these methods have been used for many years by businesses for two important reasons. They work and they are inexpensive to implement.

The copyright of the article Ways to Increase Sales in a Slow Economy in Small/Home Business is owned by Katelyn Thomas. Permission to republish Ways to Increase Sales in a Slow Economy in print or online must be granted by the author in writing.