When You Need to Generate Sales Fast
The first quarter of the year can be a challenging time to generate sales. So if you're looking for a reliable way to bring in revenue, the best place to start is by contacting your best customers. Here are a few ideas and approaches.
1. Segment your customer file
Not all customers are equal, and when you need sales fast, your best customers are the most likely to come through for you. So it's vital that you stratify your customers by a key metric. Usually, it's most effective to segment by sales or average order size. Rather than roughly categorize customers in one group or another, an analysis of your customers will better pinpoint a strategic breaking point between groups.
For a food marketer, for example, we looked at the average price point paid, and then fine-tuned our segments so we would know the sales values within each stratified segment. By doing this, we could identify offers for each segment to encourage them to buy, and stretch them to the next higher customer segment with an offer that could yield a higher purchase.
When you sort your customer's sales activity, from highest to lowest and cumulate sales and calculate percentage of total sales, your eyes will be opened. You may see, for example, that your top 10 percent or 20 percent of customers do indeed produce a disproportionately higher volume of sales. It's those top customers who will reliably respond to your offers, even outside your prime selling season.
2. Clear out unsold product
Chances are that you have unsold non-perishable products just waiting to be moved. You probably offer them on your website since it's easy to offer close-out items there. But sometimes a simple, yet well-crafted direct mail letter is all it takes to get the sales flowing.
Reinventing Direct is for the direct marketer seeking guidance in the evolving world of online marketing. Gary Hennerberg is a mind code marketing strategist, based on the template from his new book, "Crack the Customer Mind Code." He is recognized as a leading direct marketing consultant and copywriter. He weaves in how to identify a unique selling proposition to position, or reposition, products and services using online and offline marketing approaches, and copywriting sales techniques. He is sought-after for his integration of direct mail, catalogs, email marketing, websites, content marketing, search marketing, retargeting and more. His identification of USPs and copywriting for clients has resulted in sales increases of 15 percent, 35 percent, and even as high as 60 percent. Today he integrates both online and offline media strategies, and proven copywriting techniques, to get clients results. Email him or follow Gary on LinkedIn. Co-authoring this blog is Perry Alexander of ACM Initiatives. Follow Perry on LinkedIn.