Up To BGN 5,000 Fine For Incorrect Conversion And Rounding Of Prices From BGN To EUR
In order to protect the economic interests of consumers, there will be a period of double labeling of the prices of goods and services - in leva and in euros
HOT: » Assessing the Legacy of Bulgaria's "Denkov" Cabinet: Achievements, Failures, and What Comes Next
2018 is nearly over, and you might now have a better insight into your turnover and profit margin for the year. If you failed to hit a projected financial target, you’ll more than likely not want to make the same mistake next year.
To do just that, you simply will need to adjust your sales and marketing tactics to enjoy greater success in the market. Find out how to secure more customers in 2019.
Hire Talented Sales Representatives
To increase your sales, you might need to hire a sales representative. If you already have a sales team, you might need to tweak their tactics or provide them with greater incentives to sell, such as a bigger commission or a bonus.
Aim to track the sales process to identify what does or doesn’t work, so you can create a solid strategy that will boost your revenue every time your sales staff pick up the phone.
Develop an Effective SEO Campaign
To organically rank in the search engines, improve your brand awareness and increase your daily web traffic, you must develop an effective SEO campaign for 2019 and beyond. For instance reach out to a New York SEO firm who can help you apply powerful strategies to boost your brand’s online visibility, credibility, and profitability, so you can effectively compete with your more established rivals.
Launch Complementary Products to Increase Transaction Sizes
Do many of your customers often buy just one product from your website? Encourage larger purchases by adding complementary products onto your existing line.
For example, if you sell gym equipment, increase your sales by stocking gym clothing or accessories. By doing so, you will become their one-stop-shop for their health and fitness purchases, which can lead to long-term sales and a loyal customer base.
Create Special Product Bundles
It might also be beneficial to create a bundle of some or all of your existing products, which should be available for a special price. While this will ultimately lower your per unit revenue, it can lead to a larger transaction size and a bigger profit in the long-term.
Raise Your Prices
If you want to considerably increase your profit margin, the simple option might be to raise the prices on your goods and services. Many entrepreneurs often undervalue what they do, so they will charge far too little to secure a sale. So, it might be time to raise your rates to enjoy a bigger return in 2019.
Cross-Promote Products or Services
There is always a promotional opportunity available to increase your sales, but it’s up to you to pick the best option for your brand. For example, you could team up with other companies to promote one another online and directly to your customers.
Find brands who target the same demographic and send them a cold email to suggest a potential collaboration. For instance, if you run a graphic design agency, consider teaming up with a copywriting agency to cross-promote each other’s services. You can each benefit from each other’s social media following and customer base, so it will be a mutually-beneficial relationship.
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In order to protect the economic interests of consumers, there will be a period of double labeling of the prices of goods and services - in leva and in euros
As Bulgaria inches closer to joining the Eurozone, concerns arise over the implementation of rounded prices in euros, potentially impacting citizens' wallets upon adoption of the single currency
On a briefing held at the National Press Club of BTA, Nikola Ilchev, the creator and organizer of the Balkan eCommerce Summit, showed projections indicating a significant rise in Bulgaria's e-commerce sector
Svetoslav Stanulov, chairman of the Association of Bulgarian Airlines (ABA), has emphasized the need to assess Sofia Airport's potential as a hub for transit and transfer flights
Pegasus Airlines is set to recommence its scheduled flights between Sofia and Istanbul, marking a significant milestone in air travel connectivity between Bulgaria and Turkey
Bulgaria has witnessed a remarkable surge in home loans at the beginning of the year, with loans for households for the purchase of houses and apartments reaching a record high of BGN 20.52 billion by the end of February
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
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