The fifth way to grow your business is to increase the transaction value.
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? Don’t assume they already know – ask them! Follow the ‘would you like fries with that?’ concept. Adapt this to your business.
Transaction value strategies:
-Four for the price of three
-Discount for add-on sales
-Upselling
-Proposals with options (the choice of yeses)
Stop offering discounts unless the customer has purchased an add-on.
