How To Increase Sales for Retail Companies
Majority of retailers are order-takers. Most of them sit inside their retail outlet and wait for customers to make their purchases. They seldom engage in a conversation with the customer nor do they actively pursue a sales process to obtain the sale.
Potential customers walk into a retail/showroom/roadshow booth to view products or services the retailer is offering. Although retail selling typically refers to in-door sales, it does not mean the sales staff or retailer does not venture out within the boundaries of their location or shop to promote and sell their products.
Again, most retailers make the mistake of being just an order-taker and wait for customers to make their purchases.
With mistakes like this, its not surprising for customers to walk out empty handed.
Retailers lose marketing and customer loyalty, low sales, high rental costs and high inventory.
How to Increase Sales for Retail Companies
Retail sales people don’t greet customers properly. Many retail outlets greet customers with “yes?” instead of “Good morning” or “Hi”. Don’t you agree this is a wrong sales method for retail companies? When your product and your competitor’s product is similar, interaction between the buyer and seller is crucial and this is where customer experiences are created. Yes, beautiful interior and good merchandising helps, but people-to-people customer experiences need to be solid.
Retail sales people don’t ask enough questions. This problem stems from lack of understanding of customer’s needs. One general rule, the higher your price, the more you need to understand the customer’s needs and wants. If you are selling a RM10 product, you technically do not need to ask too many questions.
But, for a RM100 and above product, you need to ask you customers a few more questions. A consultant role needs to be present if your range is RM1000 and above. Remember, the higher your price, the higher the customers expect a degree of professionalism from you.
Retail sales people are poor at presenting their benefits. Again, the rule of the price is important. The higher the price, the more skillful the retail sales person needs to be.
Retail sales people don’t tackle objections. A customer may say ” I don’t like the color, I don’t need it, I’ll come back later.” Whatever the objection is, retail sales people typically are not bothered. Why? Lacking in training, they usually resort to order-taking.
Retail sales people don’t use closing techniques. Closing is defined as asking or encouraging buyers to make purchase. Very little sales people do that. They wait for buyers to buy.
Let me share with you a proven method of closing a larger transaction for every customer used by the world renowned McDonald’s. First of all, you do not see small set meals anymore. Customers now only choose from medium or large meals.
Next, when you order a Big Mac over the counter, do you recall the next thing the staff says to you? Do they say “RMx please?” No. They instead ask ” Large?” Most people will say “yes”. Unbelievable? Well, the next time you are in McDonald’s, walk around and observe how many people have a large meal on their tables.
McDonald’s has mastered the up-sell technique.
Now, take time to picture if your sales team did the opposites of the mistakes mentioned above. Just imagine they greet every single customer that walks into your retail outlet with a powerful greeting and understanding their needs and wants. Up-selling them like McDonald’s.
How would your retail business look like?
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