Looking to increase your conversions and sales? In today’s digital era there are a host of new techniques that will help you grow your profits.
Here are the top 5 ways African shop owners can boost sales, gain new customers and retain existing ones :
Adopt advanced payment solutions
Businesses with advanced payment solutions are able to offer their customers a wide variety of payment methods and currencies. Payment methods that a good PSP will offer include credit cards, mobile wallets, mobile money, and bank transfers. Especially in Africa, where there is a large unbanked population, it’s important to offer the chance to pay using mobile money, which does not require a bank account to set up. In addition, multicurrency payment options will attract customers from neighboring countries and across the globe.
Using a mobile phone or tablet in conjunction with a mobile payment app, you can have an mPOS (mobile point of sale) that allows you to offer even more payment options, including QR codes, from anywhere in your store or outside it. An mPOS device is highly convenient and costs less than a traditional cash register POS.
Using mobile payments to increase brand loyalty, will also increase sales for the following reasons:
- The payment process will be streamlined because all payment types can be processed, no matter the method of currency, so fewer customers are lost at the payment stage.
- High security increases trustworthiness and gives customers confidence in your brand.
- Increased customer satisfaction means increased conversions and repeat customers.
Social media is a powerful, yet free, resource through which you can reach more customers and increase your sales. Most social media tools are free to use, with the exception of paid ads, which are inexpensive but very effective.
Social media marketing allows you to develop a personal connection with your customers, resulting in a positive feeling surrounding your brand, which will ultimately lead to more sales, too.
Develop a social media marketing strategy to raise your brand awareness. Here are the steps you should take:
- Build social media profiles on popular sites where your target audience frequents, such as Facebook, Twitter, or Instagram.
- Post frequently using a consistent tone and complement posts with high quality images that portray your brand as professional and friendly.
- Always engage with customers and reply to any comments or complaints. Having excellent customer service is a great way to show you are trustworthy.
When it comes to increasing in-store purchases, take advantage of impulse sale opportunities and cross-merchandising through store design. Here are some ideas:
- Use lighting techniques and creative displays to attract customer attention to particular products.
- Display videos to educate customers about the various products you sell.
- Provide in-store entertainment to excite visitors.
- Try and involve all the senses in your visual merchandising, for maximum selling power. For example, considering their target market is young adolescents, Abercrombie and Fitch uses loud music, dim lighting, attractive staff and a distinctive scent that all work together to create a comprehensive branded experience, designed to make their customers more willing to purchase.
- Create a buzzing, energetic atmosphere with lively background music. A positive atmosphere will lift customer spirits, which can increase impulse purchases.
Build awareness of your brand by hosting a special event. A great idea is to partner with a local charity, raising money for the charity while also raising awareness for your brand. To advertise the event, place ads in local newspapers and magazines, and spread word about it on social media.
Such events attract large numbers of people, drawing in visitors to your store and creating a buzz that will encourage more people to buy from you. At the event, give out flyers and exclusive discounts to attendees and donors. When you create the event, target customers who will be interested in your brand and the products or services you offer.
Sell to existing customers through techniques such as cross-selling and upselling. This involves ensuring every customer buys everything they need from you, and nothing from competitors. It’s easier to persuade a customer who believes in your brand that they need something extra than to attract new customers. Retaining customers is an easy and effective way to increase profits. Do so through building a rapport with your customers and offering relevant complementary products when a loyal customer is about to buy something from you.
Your salespeople hold the secret to successful upselling, as they have an in-depth knowledge and understanding of the items being sold and the customers who usually visit your store. They know the limitations of products and how to encourage customers to overcome these limitations through upgrading their purchase to a more expensive product.
For example, an electronics salesperson will know that even the best quality 4K television has limited sound quality, and so he can encourage the purchase of a surround-sound system. Likewise, a retail salesperson will be able to suggest appropriate accessories to a customer who was only planning to buy a dress. In such situations, a customer will be left satisfied and you will gain more profit per ticket-- a win-win situation.
By implementing the above changes, you can boost your sales and increase your shop’s profits. All this is done by creating an environment designed for buying, instilling trust, connecting with your customers, and providing them with advanced payment solutions to increase the convenience of completing their purchase in your store.