Sales are counted as an essential part of the business, solely because it defines where your organisation stands in the industry. Sales can be considered as the backbone of a business because it gives an organisation the power to position themselves next to their competitors.
Sales might be easy for some businesses, but for the majority, it is very tricky. It mainly depends on the nature of your business and your strategies. A major chunk of the budget is allocated annually for sales or rather one can say to boost sales.
This can be rightfully fruitful to the company if it is carried on in the correct manner but there are consequences if you fail to do so. So, in order to avoid the latter make sure that you focus rightly on the sales. You can make this happen by considering the following aspects while planning sales strategy-
Communicate with existing customers
Someone has rightly said that, ‘communication is the key to all problems’ and this key can be rightly utilised to boost your sales. The simplest and easiest way is to talk to your current customers. They are the ones increasing your revenue so knowing them better can help you to bring in similar customers.
You can ask their preferences or recommendations with respect to your services or product. Then you can incorporate the same to improve your services. If your business involves engagement with several clients then you can enquire of their current challenges and then work on them.
This way, you can keep consistency on the sales amount and not go below that.
Combine product and services
When you have one specialised services there is scope of limited customers to approach you. But, when you offer a combination of services or product more customers and clients are likely to come to your doorstep.
The biggest advantage of combined services that you can offer services at better prices. This way your customer/client saves money and your sales increases in general. One feature that your customers/client are bound to fall for is flexibility. When you understand their requirements and provide tailored services they are likely to approach you again and again.
For instance, there are companies which offer finances to small businesses to maintain steady cash flow finance so that they can manage seasonal peaks, increasing staff and bigger projects. The unique aspect of these companies offering loan from the bank is that they provide flexible financial solution as per the business.
According to your expertise you can frame a suitable combination for your customer/client. It is wise to provide them with at least two options (focus of each being different) so that they get to decide what their main purpose of purchasing or investing is.
Use opportunity wisely
Offering seasonal discounts or concessions is a highly effective way to boost. Plus, this scheme works for almost all kinds of businesses. However, it is very much essential to time yourself.
Timing is everything in business. Offering a sale after Christmas is not likely to work because the festive season is over and no one has surplus amount in their hand to spend. Instead, you can provide discounts before Christmas which increases sales and attracts new customers as well.
In order to avoid confusion and save you from getting busted, fix a specific dates for sale. This way, you have a clear idea about when will your sale start and end, then you can make promotions accordingly.
Making the Most Of Social Media-
You might have a traditional approach for sales but with changing times it is equally important to include the new generation techniques in your plan. It is quite possible that you may have a small amount of followers, such that you can count them on your fingers but don’t worry, they will grow eventually.
Once you start posting regularly and building customer awareness number of followers is going to ascend as more individuals would be interested in your activities and services. You can also include customer testimonials on your website as they have high influence on potential customers and increase brand value.
If your services include processing, then you can upload videos of the same on your website to assure reliability to your customers. If you are engaged in some social activity, then you can upload videos of them as well as it indicates that you are socially responsible and active organisation.
There are some companies who instantly raise their prices once the sales boost. Although, increase is a natural progress, but a sudden hike might not be a good surprise for your customers.
Make sure that you evaluate the pros and cons of increasing the prices and then make the move, because some customers might not be welcoming towards the price change and may prefer opting for another brand.