8 Successful Strategies to Increase Your Average Sale

There are lots of “secrets” out there about how to improve your sales, margins, and closing ratios. However, none of these touted how-tos are truly secrets. Instead, they’re tried-and-true, successful sales strategies that are used every day by entrepreneurs everywhere.

One of my favorite books is Instant Cashflow by Bradley J. Sugars (non-affiliate). In his tome, Mr. Sugars outlines some winning sales-generating tips. I highly recommend reading the entire book, but for a quick overview of successful sales strategies, take a look at the list below.

1. Raise your prices.

Often, we’re afraid of raising our rates because we fear we’ll lose our customers and keep ourselves from gaining new ones. This is especially true for entrepreneurs just starting. The reality is that the opposite is true.

The fastest way to drive your sales and your margin is to make price increases you’ve been putting off. By upping your rates, you build more trust in your brand instead of scaring off potential leads.

2. Make up-selling a priority.

As you discuss the right solution with your customer, move them first to a higher-priced, more fully featured item. Work diligently to demonstrate the additional benefits and be prepared to address objections before they arise.

3. Include appropriate add-ons with every sale.

Your customer’s request may not be the only thing they need or want, and many times, they may not be fully aware of what they want because they don’t know they want it. Always sell a complimentary item with the original request. This is an excellent technique for driving revenue.

4. Utilize a reminder checklist.

In the past, I worked with the owner of a handyman business, and he created a robust process for driving sales: he and his team “reminded” homeowners of what their neighbors usually asked about and ultimately added on.

By using other common inquiries, you can appeal to your clients’ desire to “keep up” with those around them. Having a checklist of your most frequently requested products and services in hand makes it easy to add more items to a single transaction.

5. Reinforce your whole product or service offering.

It’s amazing how many customers, across all industries, never truly understand the full breadth and range of their vendor.

With every transaction, remind your clients of all the benefits they have access to by working with you. Although we always believe we’ve done a masterful job communicating all that we sell and do, likely, our clients won’t remember, so we should remind them again (and again, and again…).

6. Sell services and a warranty.

Recurring revenue is a beautiful thing. Despite what they may think, your client truly needs your additional services and product warranty. Be convincing and sell those additional services.

7. Set an average sale growth goal.

Tracking sales patterns isn’t just for Fortune 500 companies. A significant part of growing your business is utilizing sales information and making changes based on the emerging results.

If you want to see an improvement in your average sale, reach beyond your initial objective and set a “stretch goal” to motivate you and your team. Measure your results on a weekly or monthly basis to determine your success.  Another effective tactic to increase your average sales is to utilize sales scripts.

8. Giveaway perceived value vs discount.

Here’s another way to divert from lowering your rates or shying away from raising them: Instead of discounting your price, add a complimentary item or service that has a decent perceived value.

Be careful not to “give away the farm” here. While you might be giving your clients A+ treatment, you might be doing yourself (and your business) a painful disservice. Ensure that whatever you’re including with your customer’s completed transaction isn’t cutting deeply into your margin.

If you’re in the market to improve your average sale or better track your performance, start incorporating the eight sales strategies above. It won’t be long before you see positive gains in your average sales and exciting growth in your business.

If you want to drive your average sale and profits, sign up today for a complimentary online coaching session with me.

Coach Dave