A strong sales game is the lifeblood of any company. When markets fluctuate, generating sustainable sales becomes more critical than ever. Many entrepreneurs struggle to find ways to boost sales, especially if they own a small startup. Better numbers could be closer than you think. Here are six strategies for increasing those sales figures.
1. Automate the Selling Process
Over the past few years, automation has emerged as a boon to the business world. Artificial intelligence, machine learning, and cloud computing have created an array of tools for building efficiency. Customer relationship management (CRM) suites immediately come to mind. Automated lead-scoring programs can take the guesswork out of prospecting. Outreach software can aid email marketing campaigns. Understand that dealing with big data comes with risks. Upgrade your cyber defenses to deal with the threat to data in transit and stored data at rest and keep losses to a minimum.
2. Try a Lead Magnet
A “lead magnet” is a free offer that gets leads to look deeper into your company. An example is when visitors to a company’s website are offered free information or a sample in exchange for entering their contact information. This simple tactic gives sales teams and leads the best of both worlds. Every owner or sales team would love to get prospects to commit. Consumers want to sample a brand without committing. A fun lead magnet lets the relationship begin in a way that benefits both parties.
3. Improve Social Media Marketing
According to global marketing company GlobalWebIndex (GWI), 29% of U.S. consumers aged 16-64 use social media to research brands. Every social media channel offers a new channel to connect with your market. This fact makes multichannel and omnichannel marketing incredibly effective. Cross-promoting new offerings on different channels reaches entirely new market segments. Even a multichannel approach doesn’t always make the most of social media. Omnichannel marketing tailors the message to the medium and, by extension, the audience. Meeting customers in their preferred spaces can only have a positive impact.
4. Have Memorable Written Content
Research also shows that traditional long-form written content is a powerful way to generate traffic and interest. Reason number one is that the content can be thoughtful and authentic. In-depth writing can make your brand look sophisticated. The second reason to engage with written content is that it lends itself well to search engine optimization. SEO writing can get you ranked higher in search engine algorithms, thus creating visibility for your brand.
5. Run Promotions for Loyal Customers
Your most profitable customers are your regular customers. Research shows that existing customers spend 67% more on average per order than new customers. Customers will stay loyal to companies that already provide them with higher perceived value. Promotions are a great way to reward (and engender) that loyalty. Discounts are an excellent and meaningful way to reward loyalty. Package deals are another perennial favorite. Early VIP access to new products and services works well too. Anything that lets your customers know you value them will earn the loyalty you seek.
6. Give Excellent Customer Service
One of the best ways to earn customer loyalty is through exemplary customer service. Many sales teams leverage automation here in the form of chatbots. Chatbots tend to increase overall sales, but the majority of customers prefer live agents. Virtual agents do indeed work well in economies of scale. Large volumes of customers who need minimal assistance can have it easily via chatbots. Even so, polls consistently show that live chat, email, and phone chat remain favorites for a cross-section of consumers. Call centers may be expensive, but live chat and email support take comparatively little effort and few resources. Consider giving your customers a variety of service options that fit their needs.
No single tactic will turn leads into conversions. It’s best not to think of customers as leads or conversions whatsoever. Learn what drives the needs and wants of your target audience. Having a stronger sales quarter might be as simple as paying attention.