The unprecedented times we’re currently facing have resulted in a devastating period for many businesses across the UK and further afield. Here in the UK, a national lockdown was introduced back in March, which meant many shops, restaurants and businesses had to close their doors for the foreseeable future.
Although the country is cautiously getting back to some form of normality, unfortunately many businesses have had to make staff members redundant, or close their business for good, due to the cripping economical effects of the pandemic.
With the majority of businesses now allowed to re-open, it’s vital that owners create a plan to help boost sales and slowly start to repair some of the financial damage caused over the past few months. To help you understand this in more detail and cover some of the areas that may have never crossed your mind, Immedia have put together 8 psychology tips which can help your business boost its sales.
Fine tune your audio output
It has been suggested that playing music and adverts which connects with your business’s audience can help towards boosting sales. According to a study created by the Journal of Consumer Marketing, you should carefully consider the types of audio you are playing at various times of the day. For example, what you play in the morning might not be as effective during the evening; so it’s important to be aware of this.
Example: A great example of how this point has been implemented, is by the highstreet chain, Superdrug. They have created an in-store radio station which advertises offers and discounts. It was reported that by doing this and targeting specific products, sales increased by 10%.
Make use of the ‘reciprocity principle’
Interesting studies carried out by Dr Robert Cialdini discovered that a waiter in the hospitality industry could increase tips given by diners by around 3%, when a mint was given with their bill. More surprisingly, the percentage went up to around 14% when two mints were provided. If your business doesn’t fall under the hospitality industry then you may be wondering how to implement this technique, but it’s easier than you think.
Example: If you’re an owner of a beauty business then it’s more than likely you’ll sell fragrances. One of the best ways to implement the tip we have mentioned, is to provide free samples or offer free gifts when a purchase is made. A free sample allows the customer to try the product and if they like it, your chances of a sale have increased.
By understanding two of the tips we have selected from the eight Immedia have listed, you can begin to understand how important psychology is when it comes to boosting sales. Businesses haven’t faced an economic battle like this before, so it’s crucial you do all you can to get your business back on its feet after an unprecedented few months.