A businessman certainly doesn’t only think about how the business can survive. But it is also important to know how to increase sales turnover so that more and more enthusiasts flood.
Especially during a pandemic, online businesses need to know the right strategy so that businesses can generate turnover. Not only that, you can increase your turnover to many times.
To get all of that, you can listen to the information below regarding how to increase online sales turnover during the Covid-19 pandemic.
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Get to know Turnover
Actually, what is the definition of turnover? Turnover is the accumulation that is obtained by a company or business from the total amount within a certain period of time in the accounting process.
Turnover can be calculated per day, per week, per month, or per year. Turnover also includes gross income because it includes all sales results without calculating the capital that has been issued.
The business owner must know how much the turnover is from business income to understand the company’s financial condition.
How to Calculate Turnover
Well, then we will discuss how to calculate turnover. Here’s how to calculate turnover, including:
Turnover = Number of products sold x selling price per product
For example, ABC Store sells leather shoes. One pair of shoes costs Rp. 150,000. In 1 month, Toko ABC is able to sell 50 pairs of shoes.
Calculation:
Turnover = Number of products sold x selling price per product
ABC Store Turnover = 50 x Rp. 150,000
ABC Store Turnover = Rp. 7,500,000
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11 Ways to Increase Sales Turnover
Instead of wanting to increase sales turnover, they experienced losses. This naturally happens to every online businessman, especially for novice online entrepreneurs.
But we need to know together that this could be the cause of the individuals themselves not knowing the right strategy to increase turnover.
Therefore, in order for your business to grow with abundant turnover, in the following, we present 11 ways to increase online sales turnover during a pandemic.
1. Strengthen Product Brands
A strong brand will greatly support product sales. In addition, a strong brand can secure the price of your product even though it is relatively high.
This is true because in fact, the results of a survey by Nielsen stated that 60% of consumers are more interested in products from well-known brands.
You can strengthen your brand by creating content that is interesting, relevant and in accordance with existing trends.
2. Find Wider and Right Target Customers
Online entrepreneurs certainly have to be familiar with various social media accounts. Because this is where businesses will generate and increase sales turnover online.
Social media can bring in turnover several times over. You become easier to reach consumers as well as effective and efficient in promoting products.
The key depends on intelligence in managing social media itself. The better the strategy in social media, the easier it will be to increase sales turnover.
One of them is by doing Social Media Marketing (SMM). For example, by creating WhatsApp Business , utilizing Facebook Ads to increase leads, optimizing Instagram or website SEO, and others.
2. Give Attractive Discounts and Special Offers
Giving discounts is a powerful way to increase consumers to increase your sales turnover.
But keep in mind that when you give a discount, make sure the discount is in accordance with the cost of your production.
Make the right discount program and not burdensome. In addition, give discounts only at certain times. For example, towards the end of the month or holidays.
The purpose of holding special offers is basically so that customers pay quickly. This is also important because it can increase customer loyalty.
4. Improve Product Quality and Innovation
Not a few online businesses have finally decided to close their businesses due to losses. There are also those who eventually quit because they are unable to compete with other business people.
This happens because of the reluctance of business people to improve quality and make product updates.
Therefore, a businessman who wants to be successful must know how to develop a business so that he is famous in the eyes of netizens. One of them is by improving product quality and innovation.
You can make your product have character and uniqueness. Product character can be seen from the appearance, color and whatever it is according to the type of your product.
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5. Implement a Bundling Strategy
The bundling strategy has proven to be effective in increasing sales turnover. Bundling itself is a marketing strategy by uniting two or more products in one package.
Usually the price of the bundling package is priced lower than the retail price. Therefore, customers will be interested in buying products with a bundling strategy.
6. Improve Service to Customers
The most important thing in order to increase sales turnover is to provide the best service to customers.
Make customers feel impressed with the service you provide. So, using a customer service application to manage your relationship with customers is crucial.
It can be by giving thanks, being friendly and understanding the problems faced by customers. So that customers will easily open up to you.
By providing the best service for customers, you can attract even more loyal customers. As a result, your online sales turnover can grow rapidly.
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7. Improve the quality of yourself and your work partners
To be successful a person also needs help from others. Whether it’s your close friends, family or your social media friends.
If you feel overwhelmed in managing your business, it is highly recommended for you to recruit work partners who are certainly competent in their field.
Fully support them to further increase sales of your business products. After that, appreciate their struggle because they want to work with you.
8. Give Positive Testimonials
There are many benefits of customer testimonials, including increasing online sales turnover. Product testimonials will easily absorb more customer trust.
Testimonials can be invaluable capital for businesses to increase sales turnover. Through testimonials, customers will easily decide to buy immediately.
In addition, customers become more familiar with the product. So you don’t have to bother socializing product interests to your new customers.
9. Do Evaluation
After your business has run for several periods, you can evaluate it. With the evaluation, we can measure how far the increase in sales turnover.
We can also find out what we need to fix and improve. So that online business will grow and generate greater turnover than before.
Increased turnover can be managed easily with the MSME application to make it easier and more efficient.
10. Learn from Successful Entrepreneurs
There are many success stories of online business entrepreneurs that are worth emulating, especially for entrepreneurs who want to increase sales turnover.
Your competitors are not always your opponents in business. If you can choose, you can learn a lot from the ups and downs of their business story.
Learn how they develop their business, manage sales finances including how to increase sales turnover online.
If necessary, you can propose to cooperate with other entrepreneurs. So that your business can quickly rise and finally get abundant turnover.
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11. Always Optimistic and Consistent
Lastly, you need to always be optimistic and consistent in what you do. It doesn’t matter how many times you have failed and made a mistake.
By staying optimistic, we will not give up easily when facing problems. Likewise, when we continue to be consistent, it doesn’t feel like we will arrive at our goal.
You can get up and start learning and fixing the mistakes. Foster a sense of optimism so that your business can be successful in increasing sales turnover online during this pandemic.
That was how to increase sales turnover online during a pandemic. In fact, every business actor will certainly encounter ups and downs in running a business. In order to save on operational and labor costs, you can use the SAP application which is easy to use and has been integrated with various features.
It’s just that we must know how to increase sales turnover with the right strategy and have an impact on the results we expect.