This is a real problem for any company director.
To increase the turnover it is necessary to activate different levers in order to:
-increase the number of customers of the company
To increase the number of customers of the company, it is necessary to prospect regularly, you should not remain on your assets.
It is necessary to work on the sales documents, to make publicity and to use your network of contacts.
-Satisfy and retain existing customers
In order to retain existing customers, it is necessary to look after the quality of your product or service, it is necessary to differentiate from the competition.
Also, you need to develop your offer according to your customers feedbacks and to improve the customer experience.
-Increase the shopping basket
The shopping basket is the amount spent by each customer during his purchase.
To increase the average basket, you can increase your prices, practice sliding scale prices, use cross-selling or up-selling strategies or rely on additional sales.
You are an event venue and are looking to increase your sales?
Nothing could be more normal!
Here is a tip used by one of our “event venue” clients who managed to increase his turnover by 10%.
This client, a cultural events venue, markets its reception room simply by the half-day or day and sells additional services.
Until very recently, he only quoted the services that his client had asked for, such as the room rental.
How did he increase his turnover?
He simply applied add-sales.
Add-sales is a sales technique that consists in selling an additional or complementary product to increase your turnover. This technique does not require any additional sales effort.
There are two types of additional sales:
- Cross-selling, which consists of offering a product or service related to the main product, such as a glass of champagne before the three-course menu already reserved,
- And also the sale of a product that is not related to the first one, like a team building during a company seminar.
If you don’t offer them, you won’t make an additional sale, it’s as simple as that!
When you include additional products in your quotes, it allows the customer to project himself because he has a price offer and he can finally change his mind and say, oh yes, why not add this option; even if it was not in his original request.
It’s the same principle as on e-commerce sites selling trips or train and plane tickets, which offer insurance in their sales process, not everyone takes it but some customers do.
There are different upselling strategies that are effective:
- You can recommend products based on your customer’s purchase history.
- Also, you can recommend products that are frequently purchased together with the original product. You need to advertise the added value of the additional product, as the customer will be more likely to accept the value rather than the product itself.
- And you can also opt to offer a bundle of related products that are usually purchased together as a package.
How to add options in Lab Event and try to increase the turnover: average basket?
As we have seen before, in order to increase the turnover by 10%, one of the strategies is to increase the average basket of each of your customers.
To succeed in increasing the shopping basket, it is necessary to increase the volume of services for a purchase decision.
A dedicated venues software can help you achieve this goal. In our event management software Lab Event, you can add option lines in your quotes very easily. This allows you to offer additional products that will not be counted in the total of the document sent to the customer.
To confirm these options, you can select one by one those that your customer validates or put them aside.
A quote with options will allow your client to choose the level of finish for the event.