The pandemic can not only reduce the physical and mental health of many people but also the turnover of business people from small, medium to corporate levels. The decline in turnover can also have quite a detrimental effect not only on business owners but also on workers and society.
Negative effects such as those caused can be in the form of dismissal of employees, price increases to bankruptcy. For this reason, maintaining stable turnover is not solely for the benefit of one party but also for the sake of the sustainability of the interests of many people.
Do you also have a business whose turnover is sluggish due to a prolonged pandemic? Don’t be sad first, here’s How to Increase Revenue in Business During Pandemic:
10 Surefire Ways to Increase Revenue in Your Business
Innovation in this business is important, not only to match the existing trends but also to maintain the popularity of the business. Innovation is not only about changing or creating new products.
Innovation can also include changing marketing strategies, expanding business targets and improving product quality, or adapting products to current needs. For example, the food business can make delivery products ready to cook/eat in a pandemic situation like the current one so that people don’t leave their homes.
Also Read: How to Start a Business With No Money
How to Increase Revenue in Business With Strengthen the use of social media
If you didn’t use your social media business account before, you just had one. Now is the time to really make the most of it. By utilizing social media, you can freely provide announcements regarding the latest promotions and the latest sales system for your business.
Especially in this digital era, many people prefer to directly check the business’s social media accounts before visiting them. With the social media of other people who have visited or bought goods/services from your business, it can be easier to recommend your place of business to others.
Give a promo with a time limit
Who doesn’t like discounts or attractive promos?
Well, in addition to attracting buyers and introducing new products. It turns out that promos and discounts can be used as tricks to increase turnover. How come?
The trick is to do promotions but only within a certain time limit. So this method can make customers feel rushed to buy for fear of not having time because they are running out of time. For example, a 60% promotion with a minimum purchase.
It can also be combined with limit promos or promotional strategies with limited stock and first quantity limits. For example, 50% discount on ready-to-cook suki/grill packages only for the first 100 buyers.
How to Increase Revenue in Business With Product Bundling
The product bundling strategy is proven to be effective in increasing sales in the business. Usually in bundling packages are made at a lower price than the standard price. Of course, the main goal is to increase the products sold.
This strategy does not only benefit the seller but also the buyer. Because buyers can make purchases with more time-saving.
For example, beauty product bundling packages ranging from facial wash, toner, face essence, face cream to face masks. So that customers feel confident that they are more efficient, you can display the unit price in the product description of the bundling so that customers can compare them and be sure that the bundling price is cheaper than buying the unit.
Opening an online store on a well-known e-commerce site
In a pandemic situation like this, because the atmosphere is not safe, many people prefer to do online shopping activities.
So, so you don’t miss the trend, try opening a store on a popular marketplace or e-commerce site.
By opening an online store, your customers can more easily buy your products without having to leave the house. You can use social media to announce and direct shoppers to your online store.
Maintaining customer trust is a form of increasing sales turnover as well. Maintaining customer trust here is maintaining product quality and guaranteeing it with a warranty.
With the warranty, customers become more confident in the quality of the products sold. Especially if the price of the goods is not cheap, such as electronic goods. By providing a guarantee, you can also increase the selling price of the product, because the buyer already believes in the warranty provided.
How to Increase Revenue in Business With Good and convincing product photos
Good product photos can convince buyers that your shop is not a cans shop. After all, who wants to buy in an online store whose product photos are blurry and unaesthetic? Everywhere people will prefer to come to a place that is more pleasing to the eye as well as online stores.
In addition to the quality of product photos, also tidy up your online store by sorting the items sold according to their category so that it is easier for buyers to buy the items they want.
Hold a ‘free shipping promotion
Sometimes expensive shipping costs make many people hesitate to buy even though the price of the item is not expensive. Buyers will prefer other stores that have free shipping even though the price of goods is more expensive.
Well, you can use this psychological phenomenon to increase sales. By doing free shipping promotions, but with minimum purchase requirements such as minimum shopping.
Doing trend research
Trends can not only increase popularity but also sales turnover if done properly. For example, because right now there is a tick-tock fever. Instead of giving endorsements to influencers who only have Instagram, you are better off directly attracting influencers who are active on TikTok.
TikTok influencers will usually use popular hashtags to increase the number of likes and views, it can also provide a longer product introduction because TikTok has a maximum limit of 3 minutes for making videos.
A longer duration makes it possible for influencers to review and introduce products to their targeted buyers. Don’t forget to choose the right influencer and diligently follow up so that the results are in line with the target.
How to Increase Revenue in Business With Do give away events often
By doing a give-away event, customers will be more enthusiastic about stalking your online store and social media accounts. Give away can also expose your business more widely.
Give away can attract customers who were only interested in the event to want to buy your product with interesting promos and then buy your product without having to give away the lure or promotion.
Come on getting Up Come on!
Indeed, the decline in turnover due to the business pandemic has made the spirit of doing business down and burdened with various worries about the day ahead. But, rather than wallowing in vague worries. It’s better to try to get back up and try again to make the business victorious again with the tips above.
In addition to developing a business, you can also try to develop other self-skills that may be useful for your business later.