Your business has been through some ups and downs, but its moved on and now you are ready to move forwards and expand. In this article, we've put together a collection of strategies to help you increase product sales.
Are You Ready for Your Business to Expand?
For the sake of an analogy, expanding your business is kind of like growing a plant. You need to ensure you have a secure base or roots system upon which to build. This requires an immense lot of effort at the start, followed by ongoing maintenance, and extra effort again when it's time to expand.
To achieve business expansion, you first need to understand exactly what that looks like to you, and identify if you are ready to get started.
- What are your business goals? Are they SMART?
- Have you discussed your ideas with a business mentor or other professional? What pros and cons have you identified?
- Do you have the funds to cover your business expansion? Will you require a loan or investment?
- Are you committed to giving your business the time, energy and resources needed to grow at this moment in time?
- Do you have solid processes and structures within your business, and that are secure enough to be flexible as things change?
- Is there a written business growth plan and has it been reviewed by your accounting professionals?
Strategies to Increase Product Sales
Once you've got all your ducks in a row and you're ready to move forward, you'll need to identify which business growth strategies to use:
- increasing sales to existing customers and finding new customers - could you reduce your prices by altering what you offer customers? What types of marketing can you use or improve upon to get your products noticed more? Does your website make it easy for customers to purchase from?
- increasing traffic to your website or getting a website if you haven't got one - can you improve your SEO and get more organic traffic? Can you pay for advertising and clicks through to your site? Can you improve the way your website looks or functions? Website World offer NZ businesses a better eCommerce option, including a free 30 day trial.
- selling your products online - if you don't already, start selling your products online via your own website.
- adding to your product line and making your products appealing to a wider audience - are your products what your customers really want? Can they be improved to make them more appealing? What additional products can you add? Should you reduce your product range and remove poor performing products?
The world has changed and more people than ever before are now preferring to use online shopping rather than visiting a store. Having an online shop means you can reach those customers easily and grow your customer base both locally and overseas. We recommend using Website World's popular eCommerce platform - start your free trial today. A great benefit of choosing to host with Website World is that they offer their NZ merchants the opportunity to list and promote their products on their new marketplace, Our Market!