Every business sometimes needs a quick influx of cash. But I think the reason why I've been getting a lot of questions regarding sales is that our big once-a-year winter holiday is approaching. Woohoo! (Are you guys ready for Christmas?)

I literally just published a blog about the 15 Tips to Keep Your Sales Up This Holiday Season (if you haven't had a chance to read that you should go check it out). Today, I came up with a few more strategies you can employ right now to fill in the gaps and make sure you’re covered.

Ask Your Happy Customers for Referrals

A satisfied customer is the best business strategy of all. When someone buys from you and they’re happy with what they got, they’re much more likely to buy from you again. And they’re also much more likely to recommend you to their friends. So why not ask your happy customers for referrals?  This is a powerful form of marketing because it comes from a real person, not you, the company.

Some people will naturally sing your praises if you ask them to, but you can sweeten the deal by offering an incentive. You could even offer them a discount for every referral they make. It can be as simple as sending them an email or making an announcement in your own group if you have one. Either way, it’s a win-win situation. You get more business and your customers get rewarded for doing something they were already going to do anyway.

So next time you have a satisfied customer, don’t be afraid to ask them for a referral. It could be the best thing you ever did for your business. If you feel uneasy asking people for a favor like this, keep in mind that your purpose is to offer your unique value to the people who need it.

Offer a Loss Leader at a Low Price

Another way to attract new business is to offer a ‘loss leader.’ This is a product you sell below market value for the purpose of bringing in new business. You’ll get some quick cash, but even more importantly, some new customers.

You can use a loss leader to introduce other products through upsells and cross-sells. It also offers an opportunity to entice people to sign up for your email list or join your social media groups.

Have a Flash Sale

A flash sale is a great way to inject a quick boost of cash into your business. Offer a deep discount on a high-value item for a limited time only. Flash sales typically last only 24 hours.

Choose a good product your audience will love and announce the sale well ahead of time. Make sure the terms are clear and stick strictly to them. If you have people wanting to buy after the sale is over, start planning your next one.

Get Reacquainted with Past Customers

According to a study by Harvard Business School, it costs 6-7 times more to acquire a new customer than it does to retain an existing one. The study also found that loyal customers are worth up to 10 times their initial purchase.

So why does it still seem like companies are constantly trying to bring in new business? Well, acquiring new customers is exciting. It feels like forward momentum. Plus, many businesses rely on a steady stream of new customers to keep them afloat.

But the truth is, selling to past customers is much easier and cheaper than constantly searching for new ones. And yet, so many businesses let their valuable customer base lapse into inactivity.

Don't be one of those businesses! If you want to save money and increase sales, focus on selling to your past customers because the truth is, it’s much easier and cheaper to sell to past customers than to bring in new ones. You probably have some customers who haven’t bought anything in a while. Now is a good time to rekindle the relationship and offer them a good deal.

Create an offer that’s highly valuable to your customers. Create an occasion for the sale or offer it as a “thank you,” an exclusive deal to reward their loyalty.

Offer a Taster

A great way to attract new customers or get your existing customers to buy more is to offer them a taste of the value you have to offer. Give people a free demo, free trial, seminar, or other offer where they get to see your products or services in action.

If you want to offer something limited, choose a select group of your most engaged buyers since these are the ones most likely to purchase.

Establish a repertoire of these techniques and you can employ them whenever you need a quick burst of cash. If you understand the times in the sales cycle when your sales lag, you can prepare well ahead of time to mitigate the costs.

If you want to plan a promotional calendar that actually works, you're in the right place. I know how frustrating and overwhelming it could be. Thankfully, I figured out how to create a winning promotional calendar. And now I want to help you do the same.

You deserve to have a system in place that helps you promote your business in a way that feels good and gets results. Grab your promotional calendar now!

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