If you run a small business, then you know sales is the lifeblood of your very existence. When sales dry up, there's not much to do except to hope you've got enough cash reserves to hold until they pick up again. Many people believe that sales is a hit and miss element and is up to the whims of the buying public. But the truth is that there are a few tricks that have been determined to consistently increase your sales. In this article you'll learn a couple of these tricks which are virtually guaranteed to increase your sales.
The first idea is called scarcity. Anything that is perceived to be scarce is perceived to be worth much more than something that is readily abundant. Diamonds and gold are worth much more than air and water. This makes the demand, and the prices, much higher. An example is anytime you see the magic words, 'supplies are limited, please hurry.' As obvious as those are, they work. Consider using these in your business to create an idea of scarcity surrounding your products.
The power of authority is another recognized factor in sales. When somebody in authority voices an opinion one some kind of product or service, it is believed to a much higher degree than some random anonymous guy on the street. Consider all your customers, and see if you can elicit some customer comments from doctors, teachers, police officers, or anybody else in a position of authority. This will help your sales a great deal.
One way to increase sales is by using the power of comparison. People perceive things much differently when they are next to something else than when they are alone. For example, one study showed how a restaurant increased sales of a twenty five dollar bottle of wine simply by listing it in the menu next to a hundred dollar bottle of wine. The twenty five dollar bottle seemed much more reasonable in price when compared to a hundred dollar bottle.
Commitment and consistency is another good way to motive people to buy your product. People are generally more apt to behave in ways that are consistent with previous behavior. So if you can convince your customers that buying your product is consistent with their behavior, they'll have a much higher chance of buying it.
These simple techniques can dramatically increase your sales and profits. As a customer, you may think that people are immune to these tricks, but because they are based on psychology, they will always work.
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