| By :
Andy Grant
Do your sales cool off during the hot summer months? If so, you're not alone. Most businesses find they experience a "slow season" each year but here are our hottest tips for boosting sales during your slower months (whether they happen to occur in the summer or not!) Heat things up with a fire sale The term "fire sale" usually refers to an emergency clearance sale at deeply discounted prices. Originally, a fire sale referred to the sale of merchandise that had been damaged by fire or that could no longer be stored because the storage facility had been destroyed (which meant an immediate sale was necessary). Today, fire sales are common for boosting overall sales during a spending slump, or for liquidating inventory to make way for new product and stock. You can create your own fire sale to attract buyers into your business, boost overall sales, and clear out older merchandise that isn't moving. You could put certain items on sale as "loss leaders," meaning you sell a few items at a loss in order to get buying customers into your store or onto your website. Grocery stores and discount department stores use this promotional practice quite a bit. In many cases, buyers will buy additional items that may or may not be on sale (especially when combined shipping costs are low). Holding a fire sale doesn't always mean taking a loss. For example, if you host an online store, you can have a fire sale on shipping (free shipping for all orders over $10, for example). Though you'll take a small loss on the shipping costs, the sale will encourage more people to make purchases, so your overall volume and revenue will increase. Another alternative might include purchasing a discounted product to offer as a fire sale item to your customers. There are many ways to incorporate this pricing strategy. Hold an Employee Contest 3. Employee Contests Employee contests differ from sales contests in that most sales people are paid on commission and therefore motivated by their own bottom line. Employees may certainly be money-motivated, but they also appreciate recognition and acknowledgment, which is why employee contests can also be effective. Additionally, non-sales employees have a different perspective than sales reps, and may therefore create more creative and unique suggestions for problem-solving and growth. If you launch an employee contest, be sure to incentivize those employees so that they are motivated to participate to the best of their ability. Whatever method you choose, get those summer sales pumping and you'll soon find yourself saying "What slow season? We're busier than ever!"
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