Increasing footfall

Footfall measures the number of times a customer returns to your business to purchase goods and services.

Many business owners believe that the most effective way to increase turnover is to win more customers or to charge them more for purchases. Both of these strategies may work to increase sales, but both contain hidden costs.

Winning more customers

To be successful at this enterprise you will need invest in marketing campaigns, including advertising and social media costs.

Increasing your prices

The danger here is that customers will react to price increases and shop elsewhere for supplies.

Whilst we are not suggesting that you should abandon either of these strategies, by far the most cost-effective way to boost turnover numbers is to inspire your existing customers to increase the number of occasions they buy from you each year.

Increasing footfall

Cross-selling to existing customers is like preaching to the converted. You have met the costs of acquiring the customer, now you need to encourage them to come and buy from you more often.

Every time they return you increase sales and release more profit into your trading results.

If you are new to this notion, increasing footfall, we would be happy to discuss strategies that you could employ.

Of the three, increasing footfall, increasing prices, or winning new customers, increasing footfall will have the most impact on your financial results.

Share:

Accounting in Sheffield and Doncaster Certificates

Recently Added News

Nothing to declare

Downsizing business operations is a perfectly acceptable response to economic pressures, and this may lead to an absence of activity for a period of time.

Read More »

Related News

Advisory fuel rates

If you pay for the fuel used in your company car you are entitled to recover the cost of the fuel – for business journeys

Stock holding and inflation

If your business processes materials or assembles goods for sale it will need to keep a stock of items to ensure that future sales can

Sunak steps up

Long-awaited government support to help consumers meet the unprecedented increases in energy costs was announced by the Chancellor this week.   His measures have been

Quick Links

Web + SEO - LoudCrowd