As we’ve seen above, sales are dependent on two drivers, i.e. the volume of sales (number of units) per period (week, month or year) and the selling price per unit.
Volume: How to increase volume.
- Sell more (products and/or services) to the same customer
- Sell the same (product or service) to more customers
Price: How to sell at highest possible price.
- Price must be equal to the customer’s perception of the value of the product.
- Helena Rubenstein, who made a fortune selling her own brand of expensive make-up, understood that you cannot sell cosmetics to women, unless you overprice it! “Some women won’t buy anything unless they can pay a lot” she explained.
VERY IMPORTANT: Price is the most important indicator of value! So if you want to sell your product at a good price, you have to ensure that the potential buyer believes it to be a superior product/service.
Remember: Perception is stronger than fact!
- See “Why do people buy?” further down.
Both: How to maximise sales.
Increase the volume at the same time as selling at the highest possible price.
It is not that difficult! If you increase you price and increase the volume, you’ll really start making money!
Somewhere someone is looking for exactly what you offer. Your job is to find them!