The situation due to COVID-19 has generated changes in the economy and uncertainty among companies and one of the main concerns is the reduction in sales , both in products and services. Although the vaccine is already being applied in various countries, the reality is that there is still time to return to normality and even after the distancing ends, the financial consequences remain. The challenge of maintaining or increasing sales can be difficult, which is why we share some commercial techniques with you.
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months without interest
Consumers are concerned about immediately solving basic needs, that is the priority, so cash or cash payments are concentrated on paying for those products or services.
Thus, one way to support the consumer and also encourage sales in your business are the interest-free months, whether it is a “take it today and start paying in a month” or the classic interest-free months with participating banks. In this way, buyers do not neglect their financial responsibilities, but they do not lose their “lifestyle” either.
Products at cost price
This is an important decision that you must make intelligently and consciously, although you are giving up a profit margin that brings income to your company, it can help attract new customers who, most likely, will end up buying another product or service if they are. satisfied with the purchase.
Within this strategy, it is essential to define the products that you should promote and the location both in an online store and in a physical store, since the idea, in addition to selling, is to attract customers and strategically placing your products can help you promote some other product.
Although the above is a form of promotion, it is usually considered more of a customer attraction strategy. In this area, each company will define the type of promotion that best suits it; however, in case of making discount percentages, it is important that you do not reduce the price of certain products too much , because recovering the previous value will be complicated.
You can alternate the discount percentages for the classic 2×1 or 3×2 discounts, or even give away a different product for the purchase of a certain amount.
Versatility in payments
Now, more than ever, payment versatility is essential . Although payment with cards has increased during the pandemic, many people still use cash due to the ingrained trust in this form of payment, so doing business with convenience stores and banks will be necessary to satisfy the needs of all your customers.
Being at home, in addition to being necessary due to the situation, is now a facility for all those who now work permanently in home office mode. Not for nothing did e-commerce in Mexico grow more than 500% due to the pandemic.
If your business has not yet joined the digital world, it is time to do so. Keep in mind that there are several ways to do this, such as online sales platforms that include various brands and that facilitate payment options and distribution.
KEEP YOUR SALES TEAM MOTIVATED
This may not be a commercial technique to have sales, however, it is a fundamental pillar, since if your team is not motivated and does not feel committed to the company, their efforts will decrease and, therefore, the sales of your business.