If you run a small business, a retail outlet, or a simple neighborhood store, how do you increase your profit? You might think about cutting back on expenses. Or increasing your markup. Or running an expensive advertising campaign in order to attract more attention in your area.
But why not shift your focus to one of the most important areas in your store: the simple point of sale? In businesses across the world, the point of sale is considered to be one of the most valuable pieces of real estate. It’s at the point of sale that your customer already has their wallet out. It’s at the point of sale that your customer has already decided to buy from you. And it’s at the point of sale that most impulse purchases happen.
If you can’t take advantage of this real estate, how can you expect to turn a profit in any other area of your business? Fortunately, we’re not asking you to do it alone. Here are a few custom signage tips for making more profit at the point of sale:
Try the Upsell
Most small businesses aren’t familiar with the concept of the upsell—and subsequently lose out on profits they never knew existed. But what is an upsell, and how can you pull it off?
Simply put, an “upsell” is a sale that you try to make once you’ve already closed the first sale. That’s why many of our point of sale customers look for signage that introduces their point of sale customers to a completely new option. Maybe they can upgrade their ice cream for just 50 cents more. Maybe they can sign up for a promotional event you’re holding. Maybe your point of sale sign offers new options that your customer never even considered—some of which increase your profit on every purchase.
With a point of sale sign firmly in place and capturing your customers’ attention, you don’t even have to make this sale yourself. You can simply ring up the customer like usual and let them make the sale for you. And if you need to give them more incentive, try offering them a free promotion with your point of sale sign—a free promotion like signing up for your email newsletter, which allows you to send them further promotions in the future.
Sell High-Profit Impulse Items
Points of sale are notorious for being the home to many “impulse buys.” You know the type—candy bars, soft drinks, and packs of gum. The problem is, you’re not sure if your business has any of those to offer.
Well, now’s the time to consider them. What small purchases can you offer your customers that you hadn’t thought to keep in your inventory before? Even if you run a hardware store, selling small tools at the point of sale can lead to a higher volume of low-cost purchases. It may not overhaul your profits overnight, but it will help you sell high-markup products without any additional work from your end.
If you want to know more about how to use signage to increase your profits, get in touch with Sign It Quick, request a quote, and let us know what your goals are. We can craft a point of sale sign that will overhaul the way you interact with your customers.