In the business world, the ability to sell someone a product, a service or an idea is the most important fundamental skill. As a business grows, you’d expect your sales to grow as well, and while this is not always the case, effective sales technique can help you close a sale.
In today’s economy, there is no one thing that will make you more successful in your sales efforts. It will take a series of steps to help you boost your sales without sacrificing quality. Here are 10 sales tips that you can follow to increase sales performance.
1. Increase customer satisfaction
Customers are the silver bullet that makes your business successful. Without them, you’d have no paycheck to collect. If a customer walks out of your business unhappy, chances are they will never purchase services from you again. It’s important for a business to keep customers happy and satisfied. If a customer likes you, they are more likely to purchase from you and repeat the same behavior in the future. Increasing your customer’s satisfaction and experience is one of the best ways to increase sales and eventually profitability. But how exactly can you do this?
• Treat your customers the same way you would want to be treated. Take this approach to every customer interaction. Think of how an employee treats you when they want a pay raise? How about putting such a filter on? For example, thank all your customers in person for their business, go out of your way to help them. Coach your employee to apply the same tactics and on areas, they should improve.
• Surprise your customers with a bonus. This eliminates any second guessing from a customer. The last thing you want them to be thinking is whether a purchase was worth it. A small valuable bonus such as an additional product leaves your customer satisfied with their decision to purchase and this will make them feel compelled to purchase again and this time, even more, products.
• Use emails. They offer the best channel to increase customer satisfaction. Use emails to follow up with customers, send personalized special offers and to track their satisfaction. Emails are one of the most effective channels in generating revenue.
2. Clever Pricing Is the Key
Do you have a strategy behind the way you price your products and services? While pricing can be challenging and offers no shortcuts, clever pricing is on of the best way to boost sales without sacrificing quality. Customers like to compare prices, and when your price appears insanely higher than your competitor’s, you are more likely to lose sales. However, the lowest price isn’t always the best one- not by a long shot anyway. Here are clever product pricing strategies you can use to increase sales.
• Try price anchoring. Customers have a tendency of relying on the first piece of information offered to them when making decisions. Place your priced products next to standard options. This will help your customers to create a clearer sense of value as they will view the less expensive option to be cheap in comparison. For example, place a $1,000 shoe next to a $6,000 shoes.
• Offer discounts for orders with more than one product. Customers love their discounts, and even a tiny bit of saving will encourage a purchase. Offering a discount in exchange for a bigger discount will help keep your margin intact and at the same time building sales.
• Offer special prices for existing members to make them shop with you frequently. This will encourage non-members to sign up to get the same special prices.
• Re-frame your pricing. Most customers prefer per month subscription pricing to per year pricing. This makes items look far more affordable.
• Attach a brand value to your product. Customers will pay higher for this, and you can increase sales without sacrificing the quality of your product.
3. Use content marketing strategies
The marketing world has become increasingly sophisticated with content marketing providing a great advantage to boost sales and influence a buyers behavior. With increased internet usage, you no longer have the need for a large marketing budget to increase sales performance. Unlike traditional marketing, content marketing allows potential customers to find you rather than you trying to push your product in the face of potential customers. Some content marketing strategies include:
• Create a genuinely useful content experience. Inform your customers on how to make the right decisions while purchasing products.
• Use guest blogging on influential sites to reach a large targeted audience. Publish content on sites that are influential and within your business niche to attract new customers at scale.
• Identify issues customers can fix themselves and develop how-to articles offering tips and tricks to help solve specific problems. This will earn your business a customers’ loyalty and trust.
• Use easily digestible content to capture the interest of your customers. Once you’re successful, push them deeper into your sales funnel.
• Give your customers an insider look at product manuals to give them a taste of what they can expect once they have purchased a product.
Content marketing offers many benefits that eventually increases your sales.
• Generates more inbound traffic to your business
• Increases engagement with targeted customers
• Increases sales
• It’s relatively cheaper compared to traditional marketing
• Helps your business in making a personal connection with your customers
4. Develop a Competitive Advantage
A competitive advantage that helps your business to distinguish itself from the competition can lead to increased sales in a highly aggressive business world. Customers are more likely to chose your product once you have distinguished your business from others. For example, if your own a coffee shop that offers the best coffee varieties in town, fresh coffee beans, competitive prices, most well known sitting arrangements, etc. you already have an advantage over your competitors. Here are a few questions to help you determine whether your business has a competitive edge.
• Does your business possess an uniqueness that easily separates it from my competitors?
• Do you take advantage of competitive opportunities?
• Have you clearly defined your business and its target market?
• What trends do you see for your business in the future?
To gain a competitive advantage, you must add value to your customers. Offer a product that is in high demand and yet, one that your competition is unable to meet. You can even offer free shipping if no one else is doing it or have an online store for customers who are not able to reach your physical location. Online sales are increasingly becoming a crucial part of any business. You can also offer free information on products as a bonus to customers.
5. Focus on quality, not quantity
Quality can build sales in ways that quantity can’t match. You want what you already have to do better and to do so:
• Ensure all your products are flawless as one quality product is worth more that ten poor alternatives. Quality leads to more loyal customers, increased sales points and generally more appealing to prospect customers.
• Nurture your most talented employee. The loss of a top employee leads to a disruption in a business and eventually loss in sales. You can have a workplace program that offers benefits to talented employees and maintain long-term professional goals.
6. Understand your customers
Different customers present different preferences and styles. It’s essential for every business owner to understand what’s important to each customer and their decision-making process. Once you have understood your customers, you can easily match your selling process to their buying process, leading to more sales. There are a few ways to which a customer’s journey can be used in building sales.
• Create awareness to let your customer to get to know you once you have known them. Expand your brand and product to make sure that it shines once a potential customer researches you.
• Make your business easy to research in any online platform since more than half of potential customers will research you before buying your product. You can also this as an online sales strategy to increase the performance of your business.
Also, by understanding your customers, you can easily increase their spending. This information can also help in finding new customers. Some of the benefits of profiling customers include,
• You can easily spot opportunities to sell them new products.
• You can come up with market segments that target each group with specific offers tailored to their needs.
• It makes it easier to ensure that each customer gets the relevant marketing messages at the appropriate time.
• Segmenting is one of the best ways to increase sales by producing customized products or services for each group.
• You can find new customers by looking for similar prospects and sell them in a similar way.
7. Run a Customer Reward Program
Of course, customers want to be rewarded for doing business with you and a customer reward program might just be you need when it comes to building sales. You don’t necessarily have to reward your customers with a free vacation; you can give discounts, bonuses and free samples to customers who have achieved reward points. You are probably wondering how this can increase your sales?
• Customer rewards make you stand out. Most customers are faced with a tighter budget which makes sales more challenging for your business. Offering a little something more than just products lets say points, makes customers recognize you in a crowded business world.
• Points collectors spend more. Customer reward program members spend more with the aim of collecting more points which end up increasing your sales.
• A customer reward program encourages return visits which result in increased sales. It also helps spread the word about your business, driving more visits and eventually building sales.
8. Use cross-merchandising strategies
It is one of the best ways to boost the shopping experience of your customers. Use cross -merchandising to design your business for sales. This is where you present products from different categories together to increase sales. By taking advantage of this retail art of attraction, you can create a lasting impression on your customers thus encouraging return visits.
What are the benefits of Cross Merchandising?
• Products that are well merchandised attract new customers into a business. It also saves shopping time for a customer, making your business the everyday stop for easy shopping.
• Linking products which are closely related and yet from different categories increases sales. For example, mobile covers displayed next to mobile phones encourages a customer to buy both products. It enables a customer to find a solution to a problem all in one place.
• With competition becoming even stiffer, cross-merchandising adds to your marketing strategy. You can stay ahead of your competitors by hosting special events to cross merchandise your business and its image. This creates a new shopping experience, one that very customer is looking for.
9. Use a social media plan to achieve sales
Social media is driving sales now more than ever and through social media, you can accomplish sales quickly and easily. You can use social media to see what your prospects customers are saying as well as your competitors. Twitter, Facebook, and LinkedIn are great in finding opportunities and buyers. So how can you use social media to increase sales?
• Join the social media community and create a persona. Create a persona that is both likable and trustworthy. Avoid abusing or misusing social media.
• Determine the social media platform used by your customers and prospects. Use that platform as a smart selling tool as well as to connect and interact with them.
• Focus on developing relationships as they can turn into a lead. Let prospects customers know why your product might be something they need.
10. Diversify your product line
Diversify your product range by modifying existing products or adding new products to the range. This will increase sales to existing and prospect customers entering new markets. This allows you to take advantage of a strong market opportunity that can’t be achieved with your existing product. Modifying an existing product makes it more appealing to a different group of customers. For example, if you are selling cakes, you can introduce a sugar-free or a low-calorie cake that appeals to the same customer group and at the same time aimed at a new group of customers.
With the discussed sales tips, you can easily increase your businesses sales productivity without sacrificing the quality of your product. in today’s competitive environment, it’s imperative to wear your thinking cap when it comes to increasing sales volume and applying techniques that outperform your competitors.Posted by JimenezAccounting Posted on 19 Jul