Bring Financing Options to Your Business and Get Results
For the majority of business owners, making money is a top business goal. There are several improvements you can make to get more people interested in your brand and increase sales, including offering financing options.
The data you have on every purchase your customers make should give you some insights into items that can be packaged. For instance, a camera shop that sells a camera body to a customer might notice that they come back a week or two later and purchase a flash to go with it. You can increase your sales by offering a small discount on the flash, enticing them to make same-day sales.
Give Your Customers a Chance to be Loyal
The focus today is on customer retention. Once you’ve got them hooked, keep them there with a loyalty program that entices them to come back to you instead of your competitors. This can be as simple as offering your customers a special discount card that they use every time they do business with you.
Look around at your competitors and see where you can make changes to your business that makes you unique. Perhaps you’re already unique – start marketing that to your potential customers. Remember though, you unique selling point will probably evolve over time, so stay on top of it and be ready for change.
You don’t want to drop your price point too low in an effort to win over more customers, but that doesn’t mean you can’t offer discounts to entice more walk-ins. You should have already done the research to ensure that your price points are competitive. Take it up a notch by offering sales, discounts, or limited giveaways on promotional items. This should help to drastically increase traffic and offer you more cross-selling opportunities on full-priced items or services.
Offer More Products/Services
Are you pigeon-holing yourself by offering too few product or service choices to your customers? Expand your offerings so that you can pull in a wider segment of potential customers. For instance, a ski shop that specializes in skis and snowboards can improve their profits by adding hats, gloves, masks, eye protection, ski jackets and pants, socks and many other clothing items. Whatever you industry is, expand into products or services that are still connected to your industry.
Offer Financing Options
There is a percentage of your customers who will limit their purchase simply because they’re trying to stay within their budget. However, if they have the option of a low monthly payment, they’ll be more likely to spend more money with every visit knowing they don’t have to take a massive hit to wallet.
The HELPcard can build a credit card program around the needs of your customers. We work with prime and none-prime consumers who want more purchasing power. Contact us today and we’ll discuss a customized program for your business.