Sales and marketing are the keys to the growth of any business and cannot be a success if the customer is dissatisfied or if it hasn’t really helped propel your venture in the way you expected it to. When we speak of sales, by itself, it does not suffice, what is needed along with it is a strategy which can help channelise your business into a profitable one. So, when you find that there are too many product returns, small profit margins and no customer call backs, it is time you evaluate your sales strategy.It does not really matter what the size of your business is and what it sells, be it selling groceries or providing consultancy services, the best way to maximise your profits is to understand the types of sales which not only makes your customers happy, but also helps your business grow.
Sales strategies is the best way to begin conceptualizing business. Sales plan is to get on to a fact-finding mission within the company. You need to find out why a sale is lost, how it is won and how to increase sales. This will help you figure out what to do and what not to do to, in order to generate better sales.
Firstly, start by finding out whether your customer is happy. Then, you need to understand what he thinks he is gaining by buying your product or service. Realise that the customer is always in ‘Situation A’ and by buying your product or service, he gets into ‘Situation B’. For instance, if yours is a professional service, then they will buy your product or service to increase revenue, cut costs or increase their market share.
By getting specific information from the customers before the sales, you can evaluate your sales and figure out if you have met the customers’ criteria. Once that is done, you can go to the customer and tell him about the problems you set out to solve and check on how you fared.
Generating large sales
To achieve profit sales, you need to maintain an open line of communication with the client. Gather all the essential information from the client, but do it in such a way that it does not annoy them. You need to ask the right questions and offer discounts on future sales so as to create a lasting relationship with the client.
What you need to know is the profit margin which you are making on each and every deal. That way, you can keep a track of your profitability as a business. Though many businesses reflect healthy sales, their profit on sales is minimal owing to small profit margins.
Deal with disagreements
You need to deal with disagreements, whether it is within the business or externally, with the clients. Since a client’s word can make or break you, be very careful whenever a client has a complaint. One way of solving this is to get approvals prior to billing on projects. In case there is a disagreement over the timing or deliverables, you can always refer to the communication, you had with the client, for instance an e-mail, as proof.
Many times the owners think it’s ok not to be pushy by up-selling. But the fact is, there is no good service given if there is no up-sale. It adds value to your clients in getting sales. Having a bonding with your customers or clients is very important to build trust for a long run.