Here are a few ways of boosting your conversion rate:
Charge For Normally Free Advice:
This will set you up as the expert, and put you in a far better position when it comes to crunch time. You may not deal with as many prospects but, every one you do deal with is well qualified.
Here are a few hints and tips on charging for expert advice:
- Put a price on your time and knowledge.
- Use that credibility as leverage when it comes to making the sale.
A Gift Cheque Towards Purchase:
Include a gift cheque with your letter which people can spend on anything you have to offer. Works best when your product is mid-priced, and the voucher accounts for about 10-15 per cent of the purchase price. Make the voucher a dollar amount, not a percentage though.
Here are a few hints and tips on using gift checks to drive sales:
- Make sure it’s time sensitive – ‘valid for this week only’.
- Include a couple (so they can give one to a friend) but stipulate only one per person.
Always Have Stock On Hand:
That means you can say to people “And of course, you can take this home today. I have one in stock.” This makes it far more immediate for people. There’s no bigger turn-off after getting excited by a product to then be told there’s a two week waiting list.
Here are a few hints and tips on ensuring you have enough stock-on-hand:
- Always have enough stock so people can take one home immediately.
- If you are out of stock and the product allows, offer them a demo which will be replaced when new stock arrives.
Letting people know that they have the opportunity to be your only client can make them feel excited. It can also have the impact of making them want to buy now to sure it up.
Here are a few hints and tips on how you can use the prestige factor and offer exclusivity:
- If you can offer exclusivity, make sure you get a premium price for the prestige factor.
- Ensure you can keep the promise if you make it!
Allow people to pay before the goods have arrived. You may even want to offer a discount, or an added value product to encourage this. The department stores use this technique very successfully be offering lay-by
Here are a few hints and tips on allowing pre-payment as an option:
- Offer some kind of incentive, it helps with planning your inventory.
- Make sure the offer features prominently in your advertising.
Brad Sugars founded the brand Action International in 1993 when he realized there was a disconnect between business advice and implementation. The answer was Action! Brad Sugars created a business coaching company so that business owners throughout the world can realize their goals in business. Today the company is known as ActionCOACH. To learn more about business, visit Brad Sugars Review blog!