Increasing sales and profit margin is the most common problem that starting small and medium scale businesses ask as well with their marketing strategies on getting result, sales increase and achieving sales goals.
No matter what industry you’re in, what worked well a few years ago isn’t good enough today. This is no time for trial and error or order taking; this is a time to sell. Here are some basic steps you can take to improve your sales performance, reduce your cost of selling, and ensure your survival.
“You Don’t Need A Big Close As Many Sales Reps Believe. You Risk Losing Your Customer When You Save All The Good Stuff For The End. Keep The Customer Actively Involved Throughout Your Presentation, And Watch Your Results Improve.”
No matter your budget, there are always ways to increase your sales and grow your business. But one of the trickiest aspects is increasing your sales when your budget is tight. Whatever the reasons are, it could be challenging to increase your sales while keeping your marketing and advertising dollars under control.
if you want to outpace your competitors and boost profits you need a strong marketing strategy. Start with the following seven ways retailers can increase sales in 2018.
Advertise on social media
with the aim of Facebook, google ad word. twitter, LinkedIn StumbleUpon and other social media platform you can showcase your products/service to new customer through mean of advert and participating on each platform
According to the latest figures released by Facebook, 1.55 billion people log onto Facebook every month and 1.39 billion visit via mobile.
Within this massive pool of people are your future customers. Many of them visit Facebook every day. You need to connect with them.
Facebook ads will help you reach the right audience. Your audience.
Businesses can target users with Facebook Ads by location, demographics, age, gender, interests, behavior, and connections.
But Facebook can also help you get in front of specific, and often motivated, segments of your audience with some powerful ad targeting options you’ve probably never heard of. You can:
As business consultant, it is advisable to advertise your business with 20 percentage of your profit so to increase brand awareness, get new customer.
Sponsored Content is a perfect way to reach out to small business decision makers. Let us help you showcase your brand around engaging content relevant to our targeted small business audience by posting your business in other website as sponsored post.
Sponsored Content/post plays a valuable role in a strategy of paid, owned and earned media. It can augment your owned media if you have limited content assets or capacity in-house. And it acts as a catalyst to spur earned media from the community.
Benefits of Sponsored Content
Raise awareness for your brand, product or service. This is especially important in competitive markets, or when you’re a new or up-and-coming entrant. Established businesses find value when launching a new offering or reinvigorating an existing product or service.
Educate your target audience. Sponsored Content is a great way to educate your target audience about aspects of your company, product or service. This may include sponsored videos and sponsored reviews.
Develop thought leadership. Some Sponsored Content is on informational topics that you want your brand associated with in your target audience’s mind. If a small business decision-maker has a business need, does your brand instantly come to mind? If not, Sponsored Content can play a pivotal role to help you get on their radar screen.
Build positive sentiment toward your brand. Small business owners and entrepreneurs notice Sponsored Content. They appreciate your efforts to reach out and inform them. Sponsored Content as part of an overall marketing campaign helps manage how the small business community perceives your brand.
“Either You Run The Day Or The Day Runs You.”
Start a loyalty rewards program
Get customers back in your door with a loyalty rewards program that offers incentives for repeat purchases. Print loyalty rewards cards that can be stamped every time a customer makes a purchase. Once they reach a certain number of purchases, they get a freebie, discount, or some other worthwhile incentive. Any purchase might count, or you might set requirements; for example, the card gets stamped for each purchase of $20 or more, one stamp per customer per day. You can print flyers or brochures that explain how your program works.
Ask for Referrals
Your current customers are also a great asset in providing you with client referrals. If you know that a client is satisfied and happy with your products, ask him or her for the names and contact information of other small business owners who might also benefit from working with you.
You can also ask satisfied customers for testimonials and then use those on your website and in sales emails or newsletters. Always be sure to ask permission first when using a customer
Host events to create awareness
Events can be huge drivers for retail sales. Consider hosting events that offer value for your customers. For example, a financial advisor might offer a wealth management class; or, a pottery shop might create a weekly pottery and wine tasting event. Hosting events like these can help you understand your customers better, foster relationships and loyalty, and give your audience a consistent reason (and place) to buy.
Promote your events with direct-mail postcards, in your newsletter, in local or niche publications, with strategically-placed vinyl banners, and with short run posters and flyers distributed where your audience will notice them.
Sell to customer needs.
Always assume your prospects will buy only what they need. How can you convince them of that need? Emphasize the features of your product or service that reduce costs and solve problems for the customer. Sometimes you can reposition your wares. For example, you sold wool uniforms for their look and feel; now stress wool’s durability and lasting value. Be creative in your sales and marketing.
Sell on purpose.
Know both what to do and why you’re doing it at every step along the way. Who are you targeting and why? What are you going to tell them and why? What are you going to ask them and why? What is your proposal going to look like and why? When are you going to ask for the order? If you don’t feel sure of yourself at every step of the selling process, get some training or guidance.
Talk to Your Current Customers
Your current customers are one of your best resources for increased revenue. It’s much easier to upsell a client who already is familiar with your work, the quality of your product and services, and has already incorporated aspects of your services into their business.
If you’ve built a relationship with your clients, and they consider you a trusted partner, then they are likely willing to share current challenges they are facing. By listening, you can easily analyze how you might be able to help them address these challenges by offering new or alternative products. This approach allows you to continue to be a good partner while also increasing your revenue.
Have a Limited-Time Sale or Promotion
Discounting your products may seem antithetical to increasing sales, but even offering a slight discount can make your products and services more attractive to a client. Make sure to clearly define the parameters of the sale—including start and end dates—so there isn’t any confusion if the client decides to continue working with you once the promotion ends.
Do you know how to tell a great story?
Some people think others are natural born storytellers. The good news there is a structure to use that will make your stories engaging and entertaining. A good story paints a picture of where you are and how you take us on the hero’s journey of overcoming a problem so that we are involved with the obstacles along the way. A GREAT story not only gives you a great solution, but shows the outcome of the hero’s life from having gone on the journey.
Set monthly Sales Goals
Set monthly Sales Goals at the beginning of the year and review your Sales Goals at least monthly at your weekly sales meetings. Motivate your sales team by focusing on a quarterly sales bonus in your Sales Compensation Plan as a key factor in improving