Put a rocket up your business!

As bonfire night preparations get underway and fireworks start lighting up the sky, Bibby Financial Services urges UK small business owners and managers to put a rocket up their business and look at ways to boost their sales and increase profit margins.

In todayís market, it is vital to keep one step ahead of the competition by continually improving product and service offerings and to look at clever ways in which to increase brand awareness and boost sales. Those businesses that fail to move with the times risk losing out on valuable sales and will ultimately be left behind.

In order to help, David Robertson, Chief Executive of Bibby Financial Services, has developed 10 top tips to help owners and managers shoot for the top and skyrocket their sales for long-term, stratospheric success.

1. Strike while the iron is hot - respond to customers and prospects within
24 hours - leave it any longer and their interest will have waned or they will have gone to the competition. Always remember, time is your scarcest resource, visiting a prospect that has no intention of buying your product or service is a waste of time for them and you.

2. Benefits in kind - your customers donít really want to know what your
products do, they want to know what the benefits to them will be. Keep your sales message very simple, focus on the key benefits and lead with the one that has the strongest selling appeal and make sure that all pricing is straightforward and clear.

3. Itís good to talk - itís amazing how little, firms actually talk to their
customers. There is a wealth of opportunity and information in their existing client base. Increase your sales revenue by talking to clients, find out what they want and most importantly, learn how to adapt and change to suit those client needs.

4. Donít exist in a vacuum - keep your eyes and ears open and watch what the
competition is up to. Are your competitors undercutting you on price? Is the competition stealing your key customers from under your nose? Keeping tabs on your rivals will help you stay one step ahead of the game and ensure you donít lose valuable market share.

5. Never say never - just because prospective customers do not buy from you
the first time they learn about your product or service does not mean they will never be interested. You could potentially lose many sales if you do not revisit those prospects further down the line.

6. Smooth the way - make it as easy as possible for customers to buy from
you - accept credit cards, donít ask for unnecessary information, if you have a website have a simple online order form. Every non-essential action in the buying process is an opportunity for your customer to turn around, reverse their decision and cause you to lose a sale.

7. Get the word out - want to tell the world how great your product or
service is but canít afford to promote your business? Then think again. Public Relations is a great way of getting free publicity. If you cannot afford to employ a PR agency write your own press releases in the manner of a news story and send it to your local papers and business magazines, whose contact details can often be found on their websites.

8. Prize your assets - a handful of big customers can be responsible for a
large proportion of your profits. Reward your long standing clients by offering them a discount off their next order or invite them to a special event that lets them know how much you value their loyalty.

9. Look after the pennies - the pounds should look after themselves. When
was the last time you negotiated with your suppliers? Think what a five or 10% reduction in costs could have on your profits. Many businesses get stuck in a rut with suppliers and forget to push them for bulk or loyalty discounts. Take a look at what new suppliers would charge you - you will soon know if you are paying a fair price.

10. Partner power - increase your clout and work smarter by teaming up with
another firm that you donít compete with in a similar situation to share advertising or printing costs. You could team your product up with another complementary product to leverage additional promotional opportunities.

David Robertson concludes, ìBoosting sales, increasing your profits and leveraging your competitive edge neednít be a pipe-dream and doesnít have to cost you the earth. In todayís cutthroat market, standing still or burying your head in the sand is just not an option and by following the tips above, should ensure that your business continues to shoot for the top and fires on all cylinders.î