Sometimes it’s hard to see the benefit of something we haven’t seen in action or tried first. Offering a free trial period, or a demonstration of your product, can be a great way to alleviate a potential customer’s fears and make them confident the product will work for them. Also, once someone has tried something free they often feel obliged to reciprocate by purchasing from you - it’s the principle of reciprocity in action.
For example, if you have a software product, offer a free 30 day trial, so customers can see how it works, use it and see the results they get from it. You’ll get customers who may have sat on the fence or not purchased previously all of a sudden be ready to buy because they can get a chance to experience how great the product can actually be for them.
There’s one tip we’ve learned over the years that can greatly increase your retention rate here (or essentially how many stay on past the trial period), and that’s to offer a free trial, but require them to enter their credit card or payment details. Instead of charging them, which can decrease the conversion rates even more, just authorize their credit cards for $1 or so (this is typically where their card temporarily sees a charge for like $1 that never officially goes through – similar to what many gas stations do when you pay at the pump). If you use Paypal, you don’t even have to worry as much about this and can just do a straight trial for X days that automatically charges once the trial ends (Paypal is typically very good at getting money from customers, whereas for credit cards you often have to authorize them to make sure that they’re legit to start with).
You can also use trials as “special offers” whenever you want to run a sale. For instance, if you regularly sell a software tool for $997 / year, you can have a special offer where you do a free trial for 14 or 30 days. This can get a ton of people who’ve been on the fence to jump on this offer, as they know that the only other way for them to try out the software would be to pay $997 upfront.
So make it easy for customers to see the value in your product and purchase from you by offering a free trial or demonstration of your product. You’ll get a chance to make them feel comfortable with your product and see how great it is for them, before having to lay down their hard-earned cash. This in turn leads to more sales, especially from people who may have been skeptical about your product without the chance to try it first.
For more tips on sales and converting leads, check out this book 50 Marketing Tips & Tricks Learned After $100 Million in Sales Over 20 Years!.
It’s often way more effort and expense to find new customers than to sell again to your current customers. So how can you persuade your current customers to continuously purchase from you? One way is to put in place a loyalty program that keeps them coming back for more.
Don’t you hate it when you’re searching for an item, find it at an amazing price, then see that shipping is going to cost you an arm and a leg? One way to increase your sales, especially over a short period of time, is to reduce the cost of your shipping, or offer a sale period time where shipping is free. By putting a time limit on when you make free shipping available, you add a sense of urgency, encouraging customers to buy now, as opposed to at a later date. It’s also a good way to encourage customers who may have been on the fence to make a purchase now.
Business owners often do more talking than listening. When it comes to making sales, often it’s best to do more listening than talking. Instead of overthinking and brainstorming what your prospects might want, why not just ask them? You’d probably be surprised at how easy it can be to sell them what they’re already telling you they most want/need.
It takes a while to understand that social media sites are developed for more than just entertainment and de-escalation of boredom. You can make money through social media without selling anything. These platforms are, believe it or not, perfectly designed to be used as money-making machines. It may take you a little time and a lot of effort to get recognized by other social media users. You'll need to build an image and audience on social media. You'll need to build an audience and engage in an effective social media content strategy. Over time, as your audience grows and you accumulate more and followers a number of new income opportunities may open up to you, and you'll never have to create a store or start your own business if you don't want to. Once you have a substantial audience, here are some ways you can make money with your popular social media account:
People often overlook this very simple, very easy way to increase their business’s profits: increase your prices. Most people tend to undercharge for their services, so try increasing your prices, as a test, and see what happens. Funnily enough, most people perceive something that is higher priced as being of higher quality, which can encourage people to buy your product or service. As you increase your prices, you’re also receiving more per sale, increasing your profit margin. Take this strategy a step further and target higher value clients.
In terms of cost-efficiency, the most crucial method for attracting traffic to your website is through organic searches. They allow you to reach people who don't even know about your site initially but are searching for a specific product or service related to your website. The primary factor of the success in organic searches boils down to the ranking of your website on search engine results pages (SERPs).