How to sell more: 3 key pillars to increase sales
Selling more is the goal of any business, but it is not always easy to identify how to achieve this in an efficient and sustainable way. The answer lies in the three pillars that renowned marketing strategist and consultant Jay Abraham.
Jay establishes these principles as fundamental to increasing revenues. These pillars are universal and applicable to any industry. If you look at them closely, you realise that they are sort of universal laws. No matter how technology advances or where the market goes, these pillars will remain unchanged in order to sell more:
- Increase the number of customers
- Increasing the average ticket
- Improve purchase frequency
Understanding the three pillars to sell more
Before delving deeper, it is essential that your sales team understands what these pillars are and why they are key to growing your business:- Increase the number of customers: It's about attracting new buyers to your business to increase your monthly buyer base.
- Increase the average ticket: Get existing customers to spend more on each purchase by increasing the average purchase per customer.
Mathematical example reflecting the three pillars for increasing sales
Suppose you have a business with the following initial data:- Number of monthly active customers: 100
- Average ticket per customer: €50
- Monthly purchase frequency: 1 time per month
1. Increase the Number of Customers
Implement a digital marketing strategy that increases the number of customers by 20%.- New customers: 100+(100×0,20)=120
2. Increase the Average Ticket
By adding upselling and cross-selling strategies, you can increase the average ticket by, say, 15%.- New average ticket: 50+(50×0.15)= €57.50
3. Improve Frequency of Purchase
By building customer loyalty with rewards programmes and remarketing, let's say you get them to buy 1.2 times a month instead of 1.- New purchase frequency: 1.2
Final Results
- Initial scenario: €5.000
- Customer growth: €6.000
- Increased average ticket: €6.900
- Improved frequency of purchase: €8.280
First pillar how to sell more: Increasing the number of customers
The first step to increasing your sales is to attract new customers. This means extending your reach, reaching audiences that are not familiar with your brand and converting them into potential buyers. Increasing the number of customers is critical because it creates the basis for sustainable growth and allows you to diversify your target market. With effective strategies for marketing and a preeminent digital presence, you can capture the attention of people who are actively looking for what you offer. Here are the best practices to achieve this:Strategies for digital marketing
The inbound marketing uses relevant content and optimised for SEO (articles, videos, infographics) to attract new customers who are looking for specific solutions to their needs. Through strategies such as lead generation, encourage the conversion of visitors into potential customers.- SEO positioning (Search Engine Optimisation):
- Optimise your website with keywords related to your niche market to appear in the first results of Google. Performing an initial keyword research in parallel with a competition analysis is the way to go.
- Publish quality content on a blog that attracts your target audience through informative searches.
- Social Networking:
- Use platforms such as Instagram, Facebook, Youtube and LinkedIn to promote your products.
- Create engaging visual content and launch targeted ads to attract new customers.
- PPC (Pay Per Click) advertising:
- Run Google Ads campaigns to attract users interested in keywords related to your business.
Networking and Collaborations
- Participate in industry events to network and expand your customer base.
- Collaborate with other complementary businesses to reach a shared audience.
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Second pillar how to sell more: Increasing average ticket sales
Once you have an established customer base, the next step is to maximise the value of each transaction. Increasing the average ticket directly impacts your revenue as we saw in the mathematical example above. It also improves the overall profitability of your business. This pillar is based on offering more value to customers with every purchase. You should encourage them to buy additional or higher quality products or services (up sell). Applying these strategies correctly can make the difference between an average customer and one that makes a significant impact on your bottom line at the end of the month. Through the use of educational and persuasive content (such as success storiesdemonstrations or webinars), the inbound marketing can drive more informed purchasing decisions. This allows customers to consider higher value products or services or bundled packages.Upselling and cross-selling
- Upselling:
- Offer premium versions of your products or services.
- For example, if you have a restaurant, promote exclusive dishes or special combos.
- Cross-Selling:
- Suggest related products. For example, if you sell laptops, offer laptop cases or accessories.
Loyalty and discount programmes
- Design a points programme that rewards customers for spending more.
- It offers discounts for volume or bundled purchases.
Optimise the shopping experience
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- Make sure the purchasing process is quick and easy.
- Provide clear and complete descriptions of your products or services.
- It offers flexible payment options, such as instalments or discounts for early payment.
Third pillar how to sell more: Improving purchase frequency
The returning customer is the customer that generates long-term stability and growth. Improving purchase frequency involves building loyalty with your existing customers, creating incentives for them to repeatedly choose your business over the competition. This pillar not only increases sales, but also strengthens the relationship between your brand and your customers, increasing their loyalty and lifetime value. There are a number of ways to encourage customers to come back again and again. Here are the best strategies:Email marketing and remarketing
The inbound marketing also focuses on building loyalty with existing customers through strategies such as email marketing. Developing exclusive content for repeat users, and remarketing campaigns is a great strategy for the third pillar. This motivates customers to return and make more frequent purchases.- Email Marketing:
- Send newsletters with relevant content, exclusive offers and reminders for repeat purchases.
- Segment your list to personalise messages.
- Remarketing:
- Use ads targeted to people who have already interacted with your website or social networks.
- Recover potential customers who abandoned their shopping cart.
Exceptional customer service
- Communicate constantly:
- Follow up with your customers to make sure they are satisfied with their purchase.
- Solves problems quickly:
- Offer immediate solutions and be proactive in dealing with complaints.
Incentivise repeat purchases
- Offer subscriptions for recurring products or services.
- Design temporary promotions that encourage repeat purchases.
Measure and optimise each pillar
The key to success in any strategy is to measure its results and continually adjust tactics to get the most out of it. Each of the pillars must be monitored to ensure it is meeting its objective. It uses tools such as Google AnalyticsCRM or Semrush to analyse:- The number of new customers you attract on a monthly basis.
- The average value of each transaction.
- The frequency with which customers return.
Adjust your Strategies
- If you notice that you are not attracting enough new customers, strengthen your marketing efforts.
- If the average ticket does not increase, review your upselling tactics.
- If customers do not return, analyse possible problems with service or product quality.
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