Maybe you have succeeded in turning a great idea into an existing business – that is a step in the right direction – but if people do not get people to purchase your product or service, then you do not really have anything. Sales are what validate a business; it is the reason that every business is established.
So what happens when your business is running low on sales? It could be for any number of reasons: maybe your marketing campaign is focusing on the wrong people, is obsolete or you are employing the wrong strategies, maybe your product/service is not solving a problem the populace needs solved or there is too much competition within your industry.
You should first know that you are not the only one in this boat; there are many other entrepreneurs who cut a frustrated figure throughout 2016 for this same reason. So, here are a few ways you can squeeze out more sales in FY2017-18, ensuring your business’s survival.
1. Word of mouth lead generation
No method of lead generation is as organic as word of mouth referrals by your customers. This is because the people to whom they are talking to about your business are family, friends or colleagues. They already have a trust connection with these people making them more open to listening to what your customer has to tell them and more open to checking out your business.
Ask your customers to refer you; if you do not, you are likely leaving a lot of money on the table. Of course, you have to first ensure that your products or services are worth the trouble of your customers and that you have established a good relationship with them before you ask for referrals from them.
You might get some no’s, but you will find that the results you get from the customers who do refer you to their family and friends will more than compensate for those who did not.
2. Take your business on the road
Even if your word of mouth referrals are bringing in leads, you cannot rest on your laurels because you could be doing better. You do not always have to wait for the business to come to you. Seek out opportunities to show case your business to people and organizations that your customers cannot reach.
Courine’s Cuisine, a company touted for making some of the best naturally prepared sauce recipes, earlier this year travelled all the way to the West Coast for the 2016 Emmy Awards. They went along with a truck full of gift bags of their products to. I am sure you can guess why. An A-list event with attended by celebrities and hundreds of TV and social media stars, is an opportunity for publicity that should never be ignored.
Find out where popular events will take place throughout the year 2017 and start now to apply to showcase your products or give out gift bags of your product offering at these events.
3. Leverage upsells effectively
Always look for ways to offer customers more value for more money. Try to get them to buy other products from you or to buy an upgraded version of the product or service they want to purchase.
How many times have you purchased a drink just because the person at the counter asked you, “Will you like a Coke to go along with that?”You will find that your customers will be willing to spend more than they initially planned if you offer them something complementary to go with their purchase or a discount after their initial purchase. Such customers are viable prospects for repeat business and referrals to generate more leads for your business.
4. Incorporate videos in your social media adverts
If you have been throwing money away on SEO, advertising and other services, it may to be time to consider social media platforms. They are the most cost effective tools for advertising your business and boosting sales.
Come up with engaging and valuable video content for your marketing campaign, post them on social media sites and pages and use them for your social media ads. Video is the highest converting content format due to its unique ability to engage both the visual and audio senses of your audience.
Studies suggest that adding a video to a landing page can increase conversion rate by 80%, while a video in an email increases click-through rate by 200 – 300%. For those who are concerned about the reach of their video marketing content,92% of mobile video consumers share videos with others, 75% of online video viewers have interacted with an online video ad this month and 52% of marketing professionals name video as the type of content with the best return on investment (ROI).
5. Always exceed expectations
Exceeding customer expectation is one trick that never fails. It could be anything from delivering a product to your customer earlier than the stated delivery time, doing small consulting jobs for customers free or connecting them to people who need their business.
These little things will help you to retain your most loyal and high paying customers.Also, your customers may unconsciously begin to develop a feeling of disdain towards your competition – which is a good sign.