It doesn’t matter if you sell goods or services. It doesn’t even matter if the economy is up or down right now. What does matter is if your business can swim when others are sinking. If you want to make sure your company stays in for the long haul and want to beat the competition in terms of sales, build your business on these four pillars of the unbeatable business deal.
How to Beat Competition In Business?
Offer an unbeatable deal. Make sure you have a product that is worthwhile in the current market, then create a sense of urgency. Buyers are more likely to jump on the sale if they are worried it will end soon. Make sure it is a stand-out deal, customers may be impulsive but they’re still very good at comparison shopping. And don’t forget “Buy 2, Get 1 Free” or “Buy 1, Get the Second Half-Price.”
Always group complementary items together. Placing items that go well together can often seduce a customer into buying the whole grouping. For example: placing jelly next to peanut butter, socks with shoes, or rakes next to shovels. This often triggers a thought in the buyer’s mind to consider purchasing the complimentary item.
If you are trying to sell a certain promoted item, make sure the customers can access it easily. Display it at the front of the store so that the buyers can see it when they come in. Other “grab and go” areas for placement might be at the cash register, displayed between eye and knee level, or at the beginning or end of each aisle. Spread the product out so that it is easy to grab.
Make paying for the items as easy as possible. When customers notice that buying the product is hassle-free, they are more likely to do so. A 5-minute wait in line might be enough to turn a customer away. Making sure there are enough checkout counters and staff to avoid long lines, the option of paying via credit card or cash, even self-checkouts may be the way to go. In any case, make sure there is enough staff on the floor to answer any customer questions are a few ideas that can avoid this potential problem.
Remember, paying attention to details can really make a difference. Take a look at your business; identify the areas that you can change so that you can ramp up and sustain sales.