According to the Leading Edge Alliance National Manufacturing Outlook Survey, about 81% of manufacturing companies, including smaller ones, are positive that their revenues will grow this 2018.
Certainly, there’s no magic to it, but hard work at production and sales. But even more certainly, working hard (much less, hard-selling) isn’t the only way to get a chance to earn bigger. That is if you know how to sell smart.
And what better way to start 2018 than wisely? Here are tried and true practices to earn your way into grander income figures this 2018.
Know exactly what you have
By now you know that having a regular inventory has loads of benefits. (Just remember that everything in your shop is part of your capital with each item contributing to your earning potential and you should be motivated enough to do it each time.)
But apart from knowing what stocks to resupply, there’s another benefit to having everything regularly accounted for.
Doing an inventory means that you’re also getting to re-familiarize yourself with your products – the ones that easily get off the shelves and the others that could do just as well when wisely placed beside other items.
Organize with the sale in mind
Strategic product placement can help customers better compare the same kind of item at different prices (e.g. shorts for $15, $20, $25). However, you can also use this to sell other products that naturally or possibly complement others, and hopefully, sell just as well as your main products do.
If for example, summertime is around the bend, place shorts and shirts next to hats and sunglasses. That being said, you could also place in-season items by the checkout counter (e.g. if it’s traveling time: some toothbrushes, razors, breath mints). You could even offer an early bird discount if you wish to also start generating the hype.
Why do you think stores play Christmas tunes as early as they can?
Involve your employees
In the wise words of America’s BF, Benjamin Franklin: Tell me and I forget. Teach me and I remember. Involve me and I learn.
A sale is a primary goal when organizing and reorganizing products, but so must your customer’s ease – and safety. And to better streamline the process, involve your employees.
Explain your goals and why you’re going to rearrange things the way they are. From thereon, they will be with you and even feel empowered in the process having added value to their tasks.
Also, encourage your staff to give feedback or suggestions. If they happen to say something that doesn’t add to the goal, then thank them for the suggestion and explain why it might not work out for the current goal, but that you’ll keep it in mind.
One thing that’s important to note in these talks or meetings is that you will see how concerned your employees are to your customer’s convenience, for your store, and their work.
Job satisfaction, after all, isn’t only measured by the financial equivalent but also by the learnings employees can gain from you as a manager or owner and from their overall experience at your store.
Yes, hard work is important to achieve one’s goals. But there are times, many times when working smart will give you better results with less the effort and time.
More smart selling tips to come on our next blog.