What’s Your Average Sale?
Do you know what your average sale actually is? Have you ever taken the time to find out? If you use a cash register, just divide your total sales by the number of transactions. If you normally send invoices, your computer can easily give you the answer.
Once you know it, how can you increase it? If you sell more per transaction, your total sales and profits will obviously go up. But your cost of making the sale may stay the same. It’s an easy way to grow your business using what you already have available.
There are several ways to increase your average sale. Your employees should be aware of them and encouraged to use them whenever possible.
Add-on’s – what can you offer that enhances the product being purchased?
Extras – can you afford a discount for buying more of a product?
Upgrade – how can you persuade the customer to purchase a higher level of product?
Related products – what goes well with the product the customer is considering buying?
New products – your customer is a captive audience for new items that you can offer them.
Gift card – offer a gift card with a bonus and you’ll get paid now and have a repeat customer.
It doesn’t matter what works for you as long as you’re making the attempt to increase the current sale. A combination of the above ideas is even better. You’re missing a great opportunity that’s right in front of you if you just take the money and run.