You know it: your business needs sales and sales revenue if it wants to survive. But sales can be very hard to get in most industries. Your business is new and almost no one has ever heard of it, also you don’t have the deep pockets needed to hire the amazing sales reps who are so good at selling that they could sell a refrigerator to Eskimos. You are desperate and have no idea what to do, so you turn to Google, and you learn many business strategies which you can use The strategies to increase sales. You read on, and you find out the following:
Communicating with your current customers is crucial if you want your business to bring in sales
You, like any other business owner, know that your business needs sales if it wants to stay afloat financially. But any business (including yours) must communicate with its current customers to know what they want and need, to keep them happy, to make them feel as though the business actually cares about them and their needs, and to make them feel a part of the company.
The general rule of thumb about customers dictates that it costs at least twice as much to get a new customer than it does to communicate with and keep an existing one, and 20% of a business’s customers buy 80% of its products and services.
Besides, your business needs to communicate with customers regularly to keep them in the loop about company events and new products and services which are coming on the market, and to keep them satisfied with your company’s products and services and its overall customer service.
The reason why existing customers make better and more loyal customers is because they already know how your business really works, the products and services that it makes, and how your business and products and services can really benefit them!
Additionally, since they are already familiar with your business and know its successes and struggles, they are more likely to stick with your business, both in the long term and ‘when times get tough!’ One way your business can talk to your current customers is through posts, conversations, discussions, and awe-inspiring and emotional stories on various social media platforms like Facebook.
Offering your business’s products and services in bundles is one of the best strategies to increase sales
It has long been common knowledge among successful business people that businesses that bundle their products and services sell more than those which sell individual products and services. You see this all of the time on eBay and Amazon.com: you see an offer to buy an iPhone, but that price is reduced by 10% if you buy earphones and a carrying case as well.
Customers love product and service bundles because they get more for less money – this is exactly what any customer is looking for! For best results, keep your business bundles flexible and give customers the choice to pick and choose the products and services they want and need in the bundles they buy from your business.
If you offer standard product and service bundles, you may find customers rejecting your bundles altogether because they don’t need half of the products and services which are offered in your bundles.
Always ask for referrals from your customers.
Remember that referrals are like ‘gold.’ Customer referrals are a word of mouth advertising which is still the best and most effective way of advertising even in the digital age. Because referrals are already familiar with your business and its products and services – they learned all of this by talking with your current customers – they are more likely to trust your company and do business with it (and you) right away. They are also more likely to become loyal customers.
This helps you build up your customer base, the one thing your company needs to stay viable in the long term, right away! More important than referrals are client testimonials because they are honest statements from your customers which endorse your company, its products, and/or services. Because they ‘come straight from the horse’s mouth’ your customers, having them on your website will definitely attract more traffic to your site and generate more conversions – the two things your business needs to make it in the long run in your industry.
Offer your customers a sale or a promotion which ends after a specified and short period of time
Customers love to buy your products and services at a discounted price, after all, who wouldn’t? They are more likely to buy your company’s products and services if they know that these are only going to be available at a discounted price for a short period of time. You will get more customers and sales, have more loyal customers, and get more referrals if you constantly offer limited-time period sales or promotions.
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Listen to what your customer is telling you
Listening is an important communication skill. Never forget this when you run marketing and advertising campaigns for your customers. After all, marketing and advertising campaigns are just communicating the effectiveness of your products and services to your customers in a different way and over a different medium.
Your customers will write customer reviews on your website, or they will make various posts and comments on various social media platforms about your products and services. You should read them and take them to heart. Listen to your customers suggestions and act accordingly.
For example, if they don’t like your products and want to see certain improvements and changes, you must make those improvements and changes, or else your customers will drop you in favor of the competition right away, and you don’t want that.
If they like your products and services, but want them fine-tuned in a certain way, you must act accordingly. You should train your sales team how to listen to, understand, react, and respond to customer sentiments when they are out on the field because this is crucial if you want to keep customers happy and retain them.
You should also train your sales team on the art of asking leading questions which will get customers to tell them all about what they think about your company’s products and services, what they like and don’t like about them, and how they want these to be improved. Then you act accordingly. These are great strategies to increase sales.
Use social media to talk to your customers and promote your services and products
Social media goes viral, has a global reach, and is free. So why not use it to promote your services and products and talk to your customers? You talk to your customers whenever you put up posts about your products and services, or your company.
You also talk to your customers when you respond to their comments on your social media posts. In fact, customers love this type of interaction because they feel as though you actually care about them and want to know what they feel about your products and services. They will also be flattered that you care enough about them to want to ‘get to know them better.’ They will want to buy your products and services, do repeat business, and send many referrals your company’s way as a result!
Raise your prices this is also a great strategy to increase sales
Of course, you should always do research and a cost-benefit analysis to know which products and services should have their prices raised – raise the prices on just any products and services, and this could actually cause you to lose loyal customers.
You need to announce the rise in prices through advertising and marketing campaigns – don’t just spring the surprise on your customers, or else you stand a good chance of losing them! Your customers will continue to buy from you because they often times equate higher prices with better quality and more durable products and services. After all, this is what any customer wants from a product or service that he or she buys!
Now that you know some of the proven strategies to increase your company’s sales, you should implement them right away. If done right, you should see more traffic and conversions to your website, and more customers who will stick around and give you valuable referrals!