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