3 big tips for small business sales
By BuildMyBiz on May 18th, 2015
May 18, 2015 in Sales and Marketing
Making sales can be intimidating for a new business owner, but it is obviously the key to making a company financially successful. Here are some small business tips for owners who are looking to boost their sales and keep them up:
1. Identifying a customer
Business Know How recommended business owners create a “sales funnel.” The strategy will drive potential customers directly to a purchase and ensure an entrepreneur’s confidence in his or her product and consumer audience. To begin, entrepreneurs need to determine the profile of their ideal customer.
The source suggested making a questionnaire to determine whether or not a potential client can benefit from a business. Someone who owns a flower shop, for example, can figure out information through questions such as if the potential consumer knows someone who is getting married, or if they are romantically attached to someone. If the flower shop owner thinks about these questions when someone walks into his or her store, he or she can “funnel” the walk-in toward making a purchase.
2. Expanding in the market
Investopedia listed ways owners can bring in new customers by marketing products differently. Utilizing unique market niches can differentiate a business from its competition. The source gave the example of Kraft, which began with Cheese Whiz, but then expanded its consumer base by creating and promoting a variety of other food toppings and snacks.
Kraft probably could have survived on just the Cheese Whiz concept, but by expanding its market, the internationally recognized company attracted customers that it never would have targeted with just one product alone. The source recommended entrepreneurs look into market niches that could be available for their own businesses. Selling something that customers can easily afford also successfully secures a consumer base, according to Business Know How. Of course, this shouldn’t be the only tactic business owners use to bring in sales.
3. Using the technology available
These days, so much software is available for businesses, both big and small. Investopedia recommended entrepreneurs look into enterprise management software to improve productivity and efficiency, which can give owners more time to figure out small business sales strategies. Software can streamline operations and provide remote access to enterprise data from anywhere, which means that both employees and business owners can improve the business from afar.
In addition, the source said the Internet is a huge resource for companies. Online commerce can really affect business sales, as selling from a website can reach customers who are unable to physically walk into the store. This also provides owners with the option to entice them through emails with special offers only available to those who sign up, and Investopedia also recommended offering complementary products and services to draw in new clients.
Using the small business resources available can improve the amount of customers and revenue a business earns. Focusing on the product alone isn’t enough, so business owners have to be inventive and think about further possibilities. With modern technology, entrepreneurs can easily reach out to other business owners for ideas and feedback. The Internet also allows business owners to more easily see and respond to customer feedback. This means that a business should never static—if a strategy isn’t working, there are always ways a company can change to improve itself. Merchants just needs to be proactive and take initiative to see the many options available to them.
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