Increase the perceived value of your products and services to boost the average amount customers spend in your store.
4 Simply Ways to Add Value:
Boost the amount each customer spends in your business, and you’ll see a large impact on your bottom line.
# CUSTOMERS X # TRANSACTIONS X $ AVERAGE SALE = $ Revenue
|Starting Point||10% Increase||30% Increase|
|Conversion Rate||30%||Conversion Rate||30%||Conversion Rate||30%|
|Average Dollar Sale||$140||Average Dollar Sale||$154
|Average Dollar Sale||$182
What is the average dollar sale in your business?
$ revenue / # transactions = $ average dollar sale
Once you know what your average dollar sale is, set yourself a reasonable target based on the opportunities that exist in your business for boosting sales. A great way to do this is to involve your sales staff – these are the people on the front lines who know your customers and types of products or services they would benefit from.
You will also need to train and develop your sales team to maximize the total value of every sale they close.
Train your sales staff on the sales process from beginning to close.
Once you’ve trained your staff, implement one or all of these strategies to add perceived value and increase your average dollar sale.
Small increases in each transaction can have a big impact on your profit at the end of the day.
To Your Success,