How to increase the turnover of a business or how to increase sales is the central problem of any commercial enterprise and the main goal of a marketing mix of any level. In essence, the problem of how to increase turnover breaks down into three components: it is the management of pricing, assortment and sales.
Instructions
Step 1
Managing pricing to increase sales is the most obvious way. However, a simple increase in the price of the same product cannot solve the problem at a qualitative level. Since turnover is not only a monetary, but also a quantitative expression of sales volumes. Therefore, in order to increase sales, you need to separately engage in product promotion. Promotion is exactly what the set of marketing tools is aimed at. And as a result of their competent application, it is possible to increase the turnover in quantitative terms.
Step 2
Another way to increase sales is through product assortment management. These measures include the implementation of measures aimed, firstly, at working with product quality, and secondly, at expanding and optimizing the range of products being promoted. Improving the quality of products allows you to get new sales both by increasing the consumption of goods by existing customers and by connecting new customers. In the second case, ABC analysis is often used to help determine priority product groups.
Step 3
You can increase turnover by entering new markets and occupying free niches. Of course, today it is almost impossible to find markets unoccupied by competitors. The situation is the same with free niches. In practical terms, this expansion usually boils down to movement from the city with a high density of trade to the sparse countryside. However, this entails accompanying difficulties, for example, transport infrastructure. Therefore, the most common type of expansion is competition. It occurs due to the displacement of competitors from their positions, as well as poaching their key customers.
