If you’re running a business that relies on sales, you’re likely always looking for new and innovative ways to increase your revenue. While you may be tempted to hire a business guru or consultant to provide you with expensive leads and advice, the truth is that you don’t have to spend a fortune just to drive more sales. In fact, there are plenty of effective, common-sense methods for improving your sales numbers — without breaking the bank.
So, let’s take a look at 5 tips to help you drive more sales!
Pitch to Existing Customers
A huge market segment that many entrepreneurs and business owners overlook is right under their noses. The reality is that, if you’ve sold something to someone, there’s a high probability that you could sell something else to them in the future.
Naturally, this strategy will depend heavily on the type of products or services you sell. For example, if you sell subscription services, you can easily get existing customers to simply resubscribe. However, if you sell air conditioning units, it may not be as easy to get new sales from your existing client base.
Learn Everything About What You’re Selling
This may sound like a basic lesson from “Sales 101,” but if you’re hiring fresh talent to help you drive sales, you need to pass down your knowledge of what the business sells. If you or your salespeople seem ill-informed of the product or service, there’s little chance that you’ll be able to convince people to buy from you. For example, let’s say you sell unique classic cars. This is a market that requires expert knowledge on everything from after-market parts to automotive history.
Thus, you’ll need to make sure that everyone involved in your sales funnel has the necessary knowledge to drive more sales.
Take an Interest in Prospective Clients
Nobody wants to feel like they’re not important; this is especially true in a sales environment. If you or your sales staff give off the impression that they only care about closing the sale, it often has a negative effect on the final outcome.
So, take the time to show interest in your client. This may include asking questions (though not too personal) and, above all else, listening to everything the client has to say.
Reevaluate Your Pricing Structure
If you find that sales are low, it could be a pricing issue. Naturally, you’ve got a minimum price that you can set, but reevaluating your pricing structure could help you find potential areas for improvement.
For example, if you’re selling smart-home devices for 5% more than your competitor, can you justify the increased price? Are your products better? Do you offer extras — like comprehensive insurance? If not, you may want to consider dropping your prices to become more competitive.
Focus Your Marketing Strategy
Finally, most businesses struggle to find a marketing strategy that fits their target demographic. This is often due to the fact that businesses go after a market segment that is simply too broad.
If you want to get the best conversion rates and the most “bang for your buck” from a marketing perspective, you will need to focus your strategy on the market niche that is most likely to buy what you’re selling.