Posted on 04 November, 2019 in

Increase transaction value and frequency

This doesn’t necessarily mean increasing your prices.

  • How can you add more value to your customers?
  • Do you give them a range of options?
  • Do you make it clear what you are offering?

Ways to track and measure

  • Average $ sales per client
  • Average transaction value
  • Average hourly rate
  • Customer transaction frequency

Strategies to increase transaction value

  • Four for the price of three
  • Discount for add-on sales
  • Increasing price
  • Upselling
  • Proposals with options (the choice of yeses)
  • Stop offering discounts unless the customer has purchased an add-on.
  • Limited time offers
  • Flat delivery fee
  • Cross merchandise
  • VIP customer specials
  • Easy payment terms

Strategies to increase transactions frequency

  • Newsletters
  • Special offers
  • Loyalty events - social / no obligations environment
  • BAMFAM (Book A Meeting From A Meeting)
  • Reminders
  • Introducing VIP / membership cards
  • Give priority clients special payment terms
  • Increase product range
  • Send promotional gift
  • Offer free trials