Suddenly, there are only 4 weeks left to drive revenue in 2011. If your thoughts have turned to your year-end sales strategy, you’re not alone. If you don’t have your holiday sales strategy set for this lucrative time of year, chin up. There’s still plenty of time to implement smart sales and pricing techniques that will make your year-end a success.
Here are five ways to maximize your 2011 income.
1. Offer Payment Incentives – If you have customers that are slow to pay, consider offering them a small prompt-payment discount to encourage them to try to pay sooner rather than later.
2. Hire Temporary Help – If you sell retail either online or off, your big season lies ahead. Do you have enough staff? If not, perhaps a local neighbor, veteran or a teen can help you during the holiday crunch time.
3. Pricing, Get Smart About It – Customers have never been more price sensitive, but that doesn’t mean every item you sell needs to be at rock bottom prices. Try to identify opportunities to sell at higher price points. Consider bundling your products into new combinations where price won’t be directly comparable with competitors.
4. Flash Marketing – It may be too late to organize a major marketing campaign, but there’s enough time to run a quick sale on Facebook or Twitter to bring in more “last minute” shoppers and revenue. Think about it, your competitors are doing it. Don’t get left behind.
5. Tap Into Your Networks – Seek new ideas. Learn what other local businesses are dong to drive year end sales at your next networking meeting. Ask questions on your social media networks or take a Facebook poll or offer one. There’s still time to take the pulse of what’s going on locally and find great new sales tips.
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