There are various strategies you could implement to help drive sales. Building the proper strategy will allow you to hit your sales goals. To build a proper sales strategy, you must first understand the sales funnel. The sales funnel is a term most often used by marketing teams to describe how target customers go through the buying process.
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Your goal should be to have high conversion rates, meaning that a high number of customers completed the sales cycle and bought your product. Here, companies are looking to increase awareness about their new product through marketing campaigns. During this time, businesses should begin to establish customer relationships with the target audience. This is the section where a great sales strategy will come into play.
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The sales stage of the funnel may have many dynamics. For instance, you may start by giving a prospect your sales pitch. Then, you may schedule a demo. You and the prospect may negotiate the price a few times before you can finally close the deal and make them a new customer. You may elect to use different strategies at various points in the sales pipeline.
The ability to adjust your sales plan will go a long way toward converting leads. Outbound sales strategies are outdated and no longer worthwhile. In these situations, companies will base their sales strategy on the actions of the seller. They often run sales and marketing independently, creating a confusing experience for the buyer. Making cold calls with no idea who is on the other end of the line is an example of outbound marketing.
Thanks to the Internet and search engines like Google, customers now have an abundance of data about a product or service. Sales leaders who implement inbound strategies will add value to the buyer. If so, the next step would be to shift to an inbound strategy. There are several components that go into developing a successful sales strategy. Each strategy should have some version of the following. The first thing you should do when developing a sales strategy is set a goal.
The goals should be specific and measurable. Similarly, you should also highlight a timeline for the sales process. How long should it take for a prospect to move through the sales pipeline? When is it best to follow up, and when is it best to move on? You should also take the time to establish an ideal customer profile. You should pinpoint various demographics, such as:. You should also determine the needs of these ideal customers and the problems they may have. Then, figure out why your product or service would be a useful solution. Taking someone who is, say, a computer programmer and trying to convert them into a sales professional is not going to work.
Investing in successful salespeople will pay tremendous dividends for your company. Outline a list of the sales skills that you wish for these salespeople to have. You should hire a couple of dedicated salespeople for your team. Providing sales training to your staff will go a long way toward converting leads. A good indicator of a high-quality lead is one who reached out to you beforehand. Perhaps they downloaded an app, completed an inquiry form, or visited a particular page on your website.
You should outline your sales process and pitch. This is a map that your salespeople should follow when working on a lead, starting with the discovery call and moving toward the final pitch. You should come up with a sales pitch that best suits your company, not a generic elevator pitch that you can find online. You should also outline how you would like your team to handle objections. Highlight pain points, or the things that customers are most likely to object to.
Come up with retorts for these objections ahead of time. Lastly, arm your team with closing techniques. What are you going to use to help seal deals? Are you willing to provide a product discount if a customer closes today? What strategies will you use to help bring a sale home?
Your current customers are one of your best resources for increased revenue. Similarly, current customers are an excellent source of revenue. Make sure that you maintain your customer relationships and offer solutions to the problems your existing customers are having. In addition to talking to current customers, you should also solicit feedback from failed customers. Follow up with failed leads to figure out what went wrong and what you can do better.
This feedback can improve your sales strategy. Many small businesses have found success by selling bundled products and services as a package rather than as individual offerings. Doing so provides value to the customer. If possible, try to keep your bundles flexible. Your current customers are also a great asset because they can provide 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 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. Then you need to take your digital selling a step further and start selling on social media.
You want to make it as convenient as possible for consumers to purchase your products. How do you do that? You position yourself where they are most of the time — browsing and conversing on social media platforms. The average American spends around 2 hours per day on social media. Think about how many more minutes they would spend on social media if they could browse your products on Facebook without ever leaving the app.
But what apps are they spending their 2 hours on? The average person has five social media accounts that they use frequently. How are you, as a business, supposed to know where to sell your products? How often should you promote them? Who should you promote your products to?
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Selling on social media, otherwise known as social selling, is when businesses choose to upload and sell their products on a social platform. They then use that platform as a means to reach their audience and sell to them through social media versus a web page.
Selling on social media is gaining steam. Everything in the digital marketing world grows at lightning speed. The best way to do that is through social selling. When it comes to social selling, you have a number of platforms you can choose from. But how do you know which one is right for your business? Should you be selling on more than one platform? What about all of them? Choosing the right platform to sell on is similar to choosing the right platform to use as your social media outlet. Take a look at the platforms that you have business accounts with right now. Is it just Facebook? Then sell on Facebook.
Are you on Pinterest, Twitter, Facebook, and Instagram? Then take a look at your metrics from each. Which one are you receiving the most engagement on? You may also take your audience demographics into consideration. If your target audience is comprised of mostly millennials, then you may want to sell on Facebook and Instagram rather than Twitter and LinkedIn.
It probably comes as no surprise to you that Facebook is easily our top choice platform for social selling. One feature offered by Facebook that other social media platforms do not have is the Product Catalog.
How to Increase Online Sales: The Complete Checklist
With the feature you can link your inventory in your ecommerce store to your Facebook business profile and begin selling those same products directly on Facebook! Your online store and Facebook talk to each other as purchases are made, so your inventory is always correct and you have more revenue in your pocket!
You can link the items in your Product Catalog directly to your Facebook ads , so you can reach your customers in a highly targeted way — making them more likely to make a purchase. If they already visited your website and looked at an item but abandoned it, just use the Product Catalog to show that item to them again in ad form.
Remind them what they are missing out on! Facebook has a lot of features that make it a compatible platform for virtually any business in any industry. But in our past experience our clients in the following industries have seen the greatest success with selling on social media via Facebook:. Instead, put a frequency cap on your ads so you limit the number of times a user sees your ad.
Promote products that are personalized or tailored to your target customer, and your sales are sure to increase. Snapchat is the second to join that category, but we will discuss that platform later. But how do they make those purchases? Through a fairly new feature called shoppable posts that Instagram introduced testing in late and officially launched globally in When selling on Instagram, you can also connect your product catalog like you can on Facebook since the platforms are linked together.
But the user experience for the customer is different. You will know when you see a shoppable post on Instagram because it will have a small shopping bag icon. Then if you like what you see, you can make a purchase right there in the Instagram app! Because Instagram shares a lot of the same features that Facebook does, the industries that will see success selling on social media via Instagram are about the same. Retail apparel companies by far take the cake when it comes to selling on Instagram. Remember, you are trying to sell this product through a screen.
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The best way to do that? High resolution imagery that shows off your product in the best way possible. An image of someone actually using or wearing your product will generate double if not triple the sales than just a stand alone product image with a plain background.