PCI compliance is one of the most important factors in establishing safe online transaction processing, but many business owners and managers know very little about it. Most either assume that it doesn’t apply to them or that they already have it – whatever it is. But e-commerce software and online payment solutions aren’t PCI compliant by default, and it’s essential that companies accepting credit card payments – both online and off – understand the basics of PCI compliance and the many benefits that it provides.
Want to increase sales? Use the following sales tips to sell more products, boost your revenue, and increase your ROI:
FOMO stands for Fear Of Missing Out. This is what causes people to buy things that are on sale even if they don’t need them and to constantly check what their friends are up to on social media. A limited-time or limited-edition offer with a countdown clock is a great way to tap into the FOMO.
Get Them in the Right Mindset
Before you make your selling point or sales pitch, you need to first get your audience in the right mindset. An example of this is stressing how your product doesn’t cost X amount of money, that amount being much higher than your real price. This gets your audience in the mindset that your product is affordable and cheap because, in their minds, the bar of what is “expensive” or even the industry standard price is now much higher.
Pain and Pleasure
Human beings do things to avoid pain and gain pleasure. People will usually do more to avoid pain than gain pleasure, so don’t just stress how much pleasure your product will bring them; focus on the pain points that brought them to your sales page in the first place.
Cross-Selling and Up-Selling
If you are not upselling and cross-selling products to your customers, you will lose out on a lot of revenue. Many companies gain most of their revenue from the additional products that people purchase, as the first product sale is often needed to cover the costs of advertising. People who are buying are already in the mindset of spending money and will usually buy more than what they originally planned to.
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Every good sales professional knows how to tap into human nature to increase sales. Understanding what influences people to make a purchasing decision will help you boost your revenue. Here are some important things that will bring you more sales.
Scarcity increases value. Human nature is to want that which we do not have. If something is in abundance, people will have less of a desire for it. You have to create a perception of scarcity to increase sales. One way to do this is by offering a limited-offer discount.
People tend to reciprocate favors and good deeds. If you offer your customers valuable information and tips, great customer service and discount opportunities, human nature will lead them to reciprocate the favors by purchasing your products. They will also be more likely to recommend you to a friend.
We tend to measure something’s worth based on how other people value it. Social proof is very important when it comes to sales. Boost the social proof of a product by encouraging your customers to leave five-star reviews and testimonials. Boost the social proof of your company overall by building your social media channels and getting followers and likes.
Similar to social proof, people tend to place more value on a statement or product that comes from an authority figure. Build up your authority by becoming an information source online, both on your website, on Youtube, and on your social media channels. Start a PR campaign and book appearances on media channels.
People like to feel as if they are part of something, whether that be a family, a tradition, a belief system, or shared values. That is why your company needs to have a mission and a purpose.
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