Published: 05 January 2018
Created: 05 January 2018
It’s easy to open a business especially if you have the fund. Your concern as a business person isn’t just for the soft or grand opening but really how your business will survive its day to day operation, get your return of investment and earn more than what you’ve invested.
So to help you, let me give you some tips on how to achieve, if not exceed, the target sales you desire:
- Create a grand opening promo. This could finance your marketing and advertising activity during your grand opening week. Best example of this is ticket selling. For the customer to qualify for the promo, he/she should avail any of your products at a minimum price. This is actually a “win-win” scenario for both parties as they get to have a chance of winning a prize and you get them to try your product. In my opinion, this is the best approach in introductory phase as it gives you the sure sales you need to fund your Grand Opening Week, which might be considered as the most expensive week for your business. Hence, it will really help your business to be known around its area.
- Walk the talk. What do I mean by this? After you have convinced your target market to try the product you are selling, make sure you give the product or service that you’ve always promise. If they’re satisfied with your product/service, they’ll surely come back even after the noise of your grand opening.
- Make sure to create a short term promo right after your grand opening. With this, there’s a higher chance that customers will come back because promo price can always be associated with savings. People love promos and discounts. Who doesn’t? But please always keep in mind that a promo must always be registered to DTI. This is not just for your protection against customers that might take advantage but also for customer’s protection from any business’ promo negligence. Few examples of promo are discounts and freebies whenever they achieve your desired purchased amount. The bigger the purchase, the bigger the items or discounts they’ll get.
- Offer loyalty cards. You would notice that almost all business establishments regardless of the size, offer loyalty cards. With this, customers can either get free items on their 5th visit or 5th transaction or get a discount on purchased product. Customers will feel like they have a huge privilege as you clandestinely entice them to choose your business over the others as the competition nowadays are getting bigger.
- Lastly, offer a promo for every referral the business will get; might be through free items or discount. This is the cheapest form of marketing. As we all know, every time that we satisfy a customer, you already get the chance to be referred to his/her circle of influence. What more when you give referral discount or prizes?
Hope these advices will help you generate continuous income on your day to day operation.