Step-by-step plan for increasing sales during a crisis
Posted: Wed Jan 29, 2025 5:33 am
If you see that interest in the product is waning, you should change the way you present it, present it differently, reformulate the commercial proposal and focus it more on new sales markets (and look for new clients there).
Hire some new sales managers and train them.
Fire or re-educate those who tend to whine and create a depressing atmosphere.
Now you can connect newly hired employees dj email list to active work.
Expand your product range and find new markets for your products or services.
Be sure to support and encourage newcomers in every possible way, help them take their first successful steps.
Download a useful document on the topic:
Checklist: How to Achieve Your Goals in Negotiations with Clients
How to Increase Sales During a Crisis Using a Store as an Example
The essence of the crisis situation is that most people do not have money to buy anything, you cannot pay suppliers on time and pay salaries to employees. And suppliers cannot pay for the production of goods, and you will have nothing to put on the shelves. The circle is closed.
What can be done to ensure that the store brings in enough money to run the business?
Find additional funds
Don't rush to take a loan, especially if the bank gives it at the same 20%, which is actually the size of your profit. You will only get bogged down in even bigger financial problems.
Try to extract more money from your own customers. How? Change your marketing strategy and reduce your own expenses as much as possible.
8 types of prices in marketing
Source: shutterstock.com
What is meant by marketing strategy? Everything that concerns product management, pricing policy, distribution methods and promotion (marketing mix: 4p = product + pricing + placing + promotion).
Now let's take a closer look at marketing measures to increase sales during a crisis, as well as ways to reduce costs.
Trading enterprise format
According to experts, during periods of economic downturn, large retail enterprises such as hypermarkets and supermarket chains suffer the most. But discount stores are in a more profitable position.
This refers to retail outlets where the product range is not very wide and everything is inexpensive. Costs are kept to a minimum here: the range of services for customers is very limited, the sales area is decorated as simply as possible (as is the layout), the packaging is the cheapest, there are few employees, the product range is simple and not very diverse. Again, an individual approach is important: there is no point in opening a discounter in an elite residential area.
To increase sales during a crisis, it is advantageous to have the opportunity to earn not only through trade margins, but also by creating additional value for your product or having your own production (or processing plant).
As an example, you can install a grill in the store or equip a bakery. It would be good to review the assortment and focus on cheap popular items. This way you will attract more customers and will have income not only from sales, but also from production.
Competent composition of the assortment
Each store has a list of products that are in the greatest demand. But the main value is not necessarily these, but those items that are sold with the maximum profit. Remember the pattern that 80% of profit comes from 20% of the products. These are the ones you need to remember when deciding to cut the assortment. It is necessary to identify these products.
For this purpose, you can conduct ABC and XYZ analysis (where ABC and XYZ are the parameters of importance classes and stability classes, respectively). Modern sales accounting tools allow you to set the desired values. In this way, you will identify the positions whose sales profit is the highest.
Turnover and inventory management
It is not worth filling the warehouse with goods during the economic downturn, although the temptation is great, because the prices of products are falling. Firstly, you will still spend money that is so necessary for turnover. Secondly, you need to pay for the rent of warehouses, and this is an extra expense. Many stores, in order not to spend money on renting warehouses, transport goods to retail outlets where they are sold faster.
The optimal stock of goods is as much as you sell during the month. Experience shows that products purchased at a tempting price for future use often lie dead weight and simply take up space in the warehouse.
Hire some new sales managers and train them.
Fire or re-educate those who tend to whine and create a depressing atmosphere.
Now you can connect newly hired employees dj email list to active work.
Expand your product range and find new markets for your products or services.
Be sure to support and encourage newcomers in every possible way, help them take their first successful steps.
Download a useful document on the topic:
Checklist: How to Achieve Your Goals in Negotiations with Clients
How to Increase Sales During a Crisis Using a Store as an Example
The essence of the crisis situation is that most people do not have money to buy anything, you cannot pay suppliers on time and pay salaries to employees. And suppliers cannot pay for the production of goods, and you will have nothing to put on the shelves. The circle is closed.
What can be done to ensure that the store brings in enough money to run the business?
Find additional funds
Don't rush to take a loan, especially if the bank gives it at the same 20%, which is actually the size of your profit. You will only get bogged down in even bigger financial problems.
Try to extract more money from your own customers. How? Change your marketing strategy and reduce your own expenses as much as possible.
8 types of prices in marketing
Source: shutterstock.com
What is meant by marketing strategy? Everything that concerns product management, pricing policy, distribution methods and promotion (marketing mix: 4p = product + pricing + placing + promotion).
Now let's take a closer look at marketing measures to increase sales during a crisis, as well as ways to reduce costs.
Trading enterprise format
According to experts, during periods of economic downturn, large retail enterprises such as hypermarkets and supermarket chains suffer the most. But discount stores are in a more profitable position.
This refers to retail outlets where the product range is not very wide and everything is inexpensive. Costs are kept to a minimum here: the range of services for customers is very limited, the sales area is decorated as simply as possible (as is the layout), the packaging is the cheapest, there are few employees, the product range is simple and not very diverse. Again, an individual approach is important: there is no point in opening a discounter in an elite residential area.
To increase sales during a crisis, it is advantageous to have the opportunity to earn not only through trade margins, but also by creating additional value for your product or having your own production (or processing plant).
As an example, you can install a grill in the store or equip a bakery. It would be good to review the assortment and focus on cheap popular items. This way you will attract more customers and will have income not only from sales, but also from production.
Competent composition of the assortment
Each store has a list of products that are in the greatest demand. But the main value is not necessarily these, but those items that are sold with the maximum profit. Remember the pattern that 80% of profit comes from 20% of the products. These are the ones you need to remember when deciding to cut the assortment. It is necessary to identify these products.
For this purpose, you can conduct ABC and XYZ analysis (where ABC and XYZ are the parameters of importance classes and stability classes, respectively). Modern sales accounting tools allow you to set the desired values. In this way, you will identify the positions whose sales profit is the highest.
Turnover and inventory management
It is not worth filling the warehouse with goods during the economic downturn, although the temptation is great, because the prices of products are falling. Firstly, you will still spend money that is so necessary for turnover. Secondly, you need to pay for the rent of warehouses, and this is an extra expense. Many stores, in order not to spend money on renting warehouses, transport goods to retail outlets where they are sold faster.
The optimal stock of goods is as much as you sell during the month. Experience shows that products purchased at a tempting price for future use often lie dead weight and simply take up space in the warehouse.