How to Improve Your Company’s Sales
No matter your budget, there are always ways to increase sales and grow your business. But one of the trickiest aspects is increasing your sales when your budget is tight. Whatever the reasons are, it could be challenging to increase sales while keeping your marketing and advertising dollars under control.
No matter what industry you’re in, it is possible to increase sales. That being said, what worked well a few years ago isn’t good enough today. This is no time for trial and error or order taking; this is a time to sell. Here are some basic steps you can take to improve your sales performance, reduce your cost of selling, and ensure your survival.
4 Ways to Improve Sales
Here are 5 simple ways you can improve your company’s sales.
1. Talk to your current customers
The people who have already bought from you are your best resources for increased revenue. It is far easier to upsell a customer who already is familiar with your work, the quality of your product and services, and has already incorporated aspects of your services into their business.
If you have built a relationship with your customers, and they consider you a trusted partner, then they are likely willing to share current challenges they are facing. By listening, you can easily analyze how you might be able to help them address challenges by offering new or alternative products. This approach allows you to continue to be a good partner while also increasing your revenue.
This is the best way to increase sales.
2. Ask for direct referrals
Your current customers are also a great asset in providing 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 also 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. Always be sure to ask permission first when using a customer testimonial.
3. Have limited time sales and/or promotions
Discounting your products may seem somewhat anti productive if you are wanting to increase sales but hear us out.
Offering a slight discount can make your products and services more attractive to a client. Make sure to clearly define the parameters of the sale—including start and end dates—so there isn’t any confusion if the client decides to continue working with you once the promotion ends.
4. Use social media properly
You can easily utilize the power of social media platforms to increase sales.
If you have even a small following on Twitter or Facebook, using social media to promote and tout your product offerings is a great way to raise customer awareness and quite possibly get the phone to ring. Customer testimonials, as mentioned in item #3, are perfect for posting to social media feeds, and can spark interest in your offerings.
Additionally, don’t just view social media as a sales tool, but as an open line of communication.
4. Increase your prices
Again, this may seem like an odd thing to say. Surely higher prices are going to lead to less sales, right?
Well, that depends how you do it.
When you do raise prices, don’t do it quietly. Announce the increase to your current clients. Give them the chance to renew their contracts or purchase products and services before the increase takes place. Raising prices is not something that should be taken lightly. Be sure to analyze the pros and cons of increasing your prices for both the short- and long-term.
One thing you absolutely should not do is suddenly jack up your prices overnight; your clients and/or customers will notice, and they will be unlikely to respond kindly. When done properly, however, increasing your prices can lead to a huge increase in your sales.
It’s Not Too Hard to Increase Sales
It does take time, though.
While the strategies above do not require any cash up-front or a huge amount of effort, they do take time to manifest. Commit yourself and be patient and, over time, you will notice a steady increase in sales.