I meet lots of business owners who want to increase their sales and think its all about getting new customers, but think about the following first before you go looking for often costly leads.

It’s easier to increase your average pound sale than you might realise. The main reason is that you are making the increase with an existing customer – one that already knows you, likes you, and trusts you.

Because it’s at least six times easier to sell to an existing customer than a total stranger, here are some common mistakes to avoid:

  1. You assume your customer knows every product or service you have available. Most customers are doing business with you in one area and would be pleased to give you the business in a related product or service if they only knew about it. For example, the same insurance company that handles your car insurance can also sell homeowner’s, boat, motorcycle, life, etc. Every business has multiple products or services that complement existing ones and deepen the relationship. All you have to do is ask: “By the way, did you know that we also have…?” You will be shocked at how many say: “I didn’t know you did that!” How sick do you feel when you hear that?
  2. You fail to offer an upgrade. Again, many businesses, including yours, have premium products or services available. At the point in time that your customer decides to purchase, it only makes sense to offer the opportunity to upgrade. Fast-food restaurants proved the wisdom of asking a customer: “Would you like to go large?” or “Would you like ____ with that?” So what’s your go large, whats your extra, the add on that you can offer in your business. It costs nothing to ask. What could you offer your customers as an additional up-sell?
  3. You offer what you think your customer will buy, even if it’s less than what they really need. This is where “pre-qualifying” goes awry. It is usually a function of you or your Team’s limiting belief around sales. I remember the wise advice of a professional fund-raiser who said: “Always be willing to ask for too much.” The reasoning here is three-fold. First, you just might get the higher amount! Second, you compliment your customer by implying that they are financially capable of a higher level. Last, you give yourself a “fall back” that is still a good value for both of you. Increasing your average pound sale takes some commitment, training and practice.

Make the commitment to improve your business, invest the time and effort to train your Team, and remember that professional salespeople need practice to keep their skills sharp. The effort you put into this will pay dividends both short and long term.