TEN TACTICS To INCREASE SALES
Increasing sales, achieving profitable sales and selling more is always a priority for every business owner. There are lots of tips online today about how to sell but which ones really work and why?
For this post, we’ve done all the analysis and assessment for you and brought you our selection.
Make it about the relationship
This year make it about building relationships you already have in your industry, clients and colleagues. Call, lunch and extend a helping hand whenever you can, this will get you further in reaching your sales.
The goal here is to get to know your network instead of running after the next lead.
Make it easy to buy
Today customers expect choices in how they can pay. The retail industry picks this up very quickly. However, for the B2B sector most only offer two options, check or credit card. Consider adding an eCommerce feature for easy purchases, like recurring maintenance costs or annual fees.
Develop a tiered structure for your clients
While this may sound harsh but you will not be in business for very long if you spend too much time on the clients that make you no money. When developing a tiered structure, think of it as benefiting all of your clients as this will help you to properly invest in areas that are important to all clients. Your larger clients or big spenders may want to partner with you in a new product, which you can then resell to other clients.
Invest in proper infrastructure
Looking to expand overseas, you will need the back-end to properly support this market. You need to shorten the sales cycle, increase your communications program, invest in a newsletter and social media, hire a qualified communications director who also understands sales, not someone who likes to write.
Invest in quarterly metric reporting, include Google analytic and the number of sales from which tactic. Ask yourself, where are my qualify leads coming from, my website, advertising or trade shows? And, why? This will help you properly invest in the right tactic.
Here are six more tactics that will increase sales:
- Clean out your lead folder: Every six months, take the time to re-qualify leads that you’ve dropped or never appropriately closed. Sometimes, the company just never had the time to properly review any product, and you could be calling at the right time.
- Assess lost sales: Take a proper look at all the reasons why you’ve lost a deal, was it because you didn’t have the right product mix, not enough expertise or your price was too high. Then fix where you can. For example, if you lack skill, perhaps you may want to consider hiring one that can close this gap.
- Increase marketing activity: Not unless you sell promotional pens and hats, I’m not a fan of contests or sales incentive programs as these set the wrong ton to sell and for a company atmosphere. Instead and after you’ve invested in developing the proper metrics, consider creasing the number of trade shows or advertising.
- Up-sell and Cross-sell: While everyone says this, up-sell, cross-sell, and it sounds easy, right. The catch 22 is if you don’t develop products your customers want, nothing sells.
- Provide value at every touchpoint. Please stop following-up. Ask your communications people to start developing articles or search online for current news that could provide help to your clients and prospective clients. Be the resource.
- Ask for the sale. Every sales consultant will tell you that at one point it is time to ask for the sale. And, if they hesitate, ask why?
BONUS, Three more!
Create a closed-loop process. This means that the lead has a process, a sales funnel where if it doesn’t close today it may tomorrow and needs to ‘stay in touch’ with your company.
Leadership: Weak leadership, poor communication skills and favouritism all lead to bad decisions, which will undoubtedly affect the moral in a company, especially for the sales team.
Loyalty Programs and/or Customer Service Programs: It has been shown that people will spend more when they belong to a loyalty program.
Here are our Top Fourteen tactics that will increase sales. Do you agree with our choice?