Sales and revenue drive a business, but it’s not always easy to hit the sales targets you need. Especially for new and growing businesses, the pressure to increase business sales can easily become more than you’d expect. Even through time, effort, and attention, it’s never guaranteed that you’re going to make a sale.
Fortunately, there are some ways you can highly increase your chances. Here are nine tips for improving your business sales.
- Target Existing Customers
A lot of sales attention can be given to the prospect of attracting new customers all the time. While naturally, that’s important for any business, it doesn’t mean that existing customers should be overlooked.
If you have customers who have already chosen to do business with you, concentrating on building loyalty and earning repeat sales from them will help to boost your numbers. Overall, it may earn more consistent revenue to target existing customers than to constantly try to attract new ones.
The chances are high that customers will want to return if you market to them again, providing that they’re pleased with your product and service.
To increase customer loyalty and the potential for return sales, think about:
- Communication, such as mailers, to follow up with customers who have placed an order before. This could be informing them about any new offers
- Offer rewards. This could be discounts or loyalty programs for those customers who choose to do repeat business
- Tailor communication based on their buying preferences. If your customer has bought something in particular, especially within retail, make sure correspondence is personalized to increase its potential
- Improve Customer Service
Customers often remember people and personal touches more than a general product. Sales may be increased by offering an improved customer service experience. If your business is trying to cold sell a product, a customer may feel as though they’re simply one of many in a crowd.
Making your customer feel personally cared for, and understanding their specific needs, can help to increase the likelihood of a sale.
- Always Commit to Competitor Research
Improving your own business sales means beating the competition, and in order to do that, you need to be able to understand it. Always take the time to conduct thorough competitor research so that you can understand what your competitors are offering — and how you can offer more.
Tips for more effective competitor research include:
- Study their website and social media profiles
- Consider becoming a customer yourself to experience the buyer’s journey more personally
- Look in detail at the service they are offering, such as delivery and quality of product
- See what their customers have to say
- Concentrate on Solid Marketing Strategies
Marketing will be essential in driving new sales, which is why marketing strategies are just as important as sales strategies. Marketing efforts should always be tailored for your specific target market and aim to grab their attention in the best possible way.
Some improved marketing tips include:
- Use social media to your advantage
- Include offers or rewards to entice new purchases
- Improve your business brand and reputation
- Ensure your SEO is optimized
- Create engaging online content
- Use Sales Tracking Software
When it comes to sales, future projections and understanding the current performance situation are going to be key for optimizing your efforts. If you’re not taking any steps to track your current sales performance, you’re less likely to understand how to best improve. By choosing to track sales, you can clearly align the efforts of a sales team with the overall goals and better see where you might be going wrong.
- Build Your Credibility
When deciding whether to make a sale with you or not, a new customer will need to understand whether you are credible. Most consumers will check online for any credentials, authority you may have, or customer testimonials. All of this will help customers trust you and ultimately decide that making a sale with you is the right choice.
It’s, therefore, a good idea to build your credibility as much as possible. If you have licenses and authority, such as certifications, then make sure to display them on your business site. If you receive glowing reviews from other customers, then ensure they are displayed on your website or social media pages, too.
It’s a good idea to try and drive as many reviews as possible to help, as customers won’t always give positive feedback off their own steam. Follow up emails asking for a quick review can be a big help for this.
- Gain Regular Feedback
To increase the chance of a successful sale, you need to understand what it is your consumer market wants from your product or service. You may think that you’re offering the best there is, but perhaps there’s something more you could do?
By conducting market research and seeking an opportunity for feedback, you can learn how to improve your service or product.
If you make a sale for which you receive negative feedback, always check with the customer what you could have done better.
General surveys can also help to understand what your target market wants from your product. You could conduct surveys through social media or a mailing list.
- Create Deals for New Customers
You may be able to entice new sales by creating deals or offers just for them. This could be a discount for first-time customers exclusive to them, or perhaps you could create a tailored package for new customers with whom your sales representatives have been discussing options.
New customers will always appreciate any extra deal or saving they can get, so it’s always worth taking the time to tailor for first-time sales.
- Offer Whatever You Can for Free
As a final tip: if you can give anything for free, then do it! This could be a free sample or a product preview, for example. If new customers can try out your product or service for free before choosing to buy, this can help to drive a sale. If you can’t offer that, even extras such as a detailed product video that showcases what you’re offering can bring them closer to your product.