Tips to Improve Sales

Posted on October 30, 2017 by Peter Nielsen, One of Thousands of Career Coaches on Noomii.

Tips to Improve Sales

In this article series, we will explore some of the most effective techniques anyone can implement in their business to increase sales and make more profits.

Content Marketing

In the past, when companies had a product or service to sell what did they do to get the word out? Press releases, television ads, paper ads, cold calls, banner ads, display hoardings and any other means they could afford. In the end, business went to those who had the largest marketing budgets. I.e. not unlike how an auction works.

Fast forward to present day, people are no longer paying attention to the thousands of marketing messages that they come across each and every single day. With internet usage on the rise and people becoming more aware, all of these traditional marketing approaches are weakening day-by-day.

Companies who embrace relationship marketing, has already understood the power of content marketing. As compared to traditional methods of marketing, content marketing means getting found by prospective customers rather than trying to push your product or service to the uninterested masses. With content marketing, comes a host of additional benefits

• Pre-qualified leads
• Lower marketing costs
• Higher conversion rates
• Higher customer satisfaction
• Lower customer acquisition rates

Embrace content marketing not just for the benefits. Although it takes time, it’s what works very well now, and likely the only marketing technique that will work in the future.

Use Upsells Effectively

If you are not using upsells, you are leaving money on the table. How many times have you ordered fries just because the sales guy asked you “would you like fries to go along with it?” or perhaps you were given a discount on something when you already made a purchase? Upsells are very effective to increase sales. Once they buy from you and are in a buying mood, it’s easier to close an additional and related sale.

Clever Pricing

Take as an example the concession prices at the cinema. Imagine the choice between a small drink and a small popcorn for $5 versus a large drink and large popcorn at $10. In this scenario, research has shown that consumers are most like to take the $5 option as the price difference to the next option is to large. However, introduce a medium drink and a medium popcorn at $8 and the consumer is now more likely to go for the large drink and large popcorn. Why? The medium option is what the consumer really wants, however for only $2 more they get a much better deal. So how can you use this for your product or service? Which option and price point can you introduce, which increases your average sales price?

Customer Reward Program

You really don’t need to be a large company to run a rewards program. Just make it a simple program where people can get discounts for being a loyal customer and satisfying certain simple criteria’s such as:

• Loyal customers providing repeat business can enjoy a discount on future purchases
• Collect points and redeem points for discounts, gifts, and so on
• Offer discount on your purchase if you shop for more than $ 100
• Etc

Advertising

Advertising is essential to bring your product to the spot light. Make use of the advertising medium that best suits your product and the time it is released. Radio, television, print and internet are some of the mediums you can rely upon to advertise your business. Also don’t give your entire advertising contract to one firm. If you have a line of products, ensure that you give each product to a different agency and do a split test on who can produce the maximum benefits.

Free Samples

It’s proven time and again that giving away free samples to your customers can help you increase sales. If you have a book for sale, make a chapter or two available for free. If you sell products, give small sample packets for users to try out. If you provide a service, offer a free initial consultation. Once your prospective customer starts using your product or service, they will have increased confidence over their purchasing decision. This will lead to a faster sale.

Looks and Design Matter

How you present and package your product can matter greatly. When the ketchup bottle changed from glass to plastic sales nearly tripled. Why? Because the bottle was now controlled by the kids and not the parents.

What’s In a Name

Choose a product name your customer can easily pronounce, remember and importantly spell by just hearing it? That way when they Google it they are much more likely to find it as well. Take extra care to name the products in such a way that the name itself gives out the product details. The name you choose must proliferate into the mind of your target customers.

Quality is King

Never compromise on the quality of your product or service. If your customer loses the trust in your brand, your business will collapse like a pack of cards. Some people tend to sacrifice the quality to prevent price hikes. But, if needed increase the price and serve the same quality rather than producing a low quality product. You can also choose to serve less quantity for the same price.

Motivate your resellers

Nothing can be more devastating than resellers refusing to sell your product or services. It could be that they are getting better pricing from competing brands or that they do not see a reason as to why they should push your product. Give them good commissions and always deliver on time. This way you can build a long lasting relationship with your dealers and they will push your products more.

In the information publishing business, you can expect to give up to 50 to 75 % of the commission to the affiliates. If you give them lower commissions, they will promote your competitor who offers them a better compensation.

If you sell a service or a software, figure out the maximum commission you can afford to pay your affiliates while not incurring a loss. Software vendors and service providers offer commissions up to 25% and sometimes above.

Diversify Your Product Range

The goal is to increase your market share in other related markets. If you concentrate on one particular product, then the risk of competitors coming in to replace you is increased. Also this approach allows you to segment your pricing as well as enable upsell or cross promotion to your customers.

Listen To Your Customers

Find out what they require. Why do they use the current product or service? What could have made their job easier? The reason why you should be listening to your customer to make more sales is because it helps you learn the customer’s language. Once you start interacting with them and understand their problems, you will learn to convey your product marketing message in a language your customer understands.

Be Unique

Whatever product or service you bring to the market, it must have a unique angle to it. If you produce normal pencils, make it unique. Maybe the pencil has additional features such as higher resistance to the writing lead breakage or a comfortable grip, etc.

Test Locally and Deploy Internationally

Make sure that you release your product to a local audience first. Test it and see how it fares. If you can’t make sales locally, there is not much chance that you will make huge sales on an international level. If you have an email list of people who have subscribed for information from you, try selling them your product at a discounted price. See how well they receive it and make tweaks and improvement as required.

Handpick your Employees

As your business expands, it would be difficult to manage your business on your own. When required, make sure that you recruit people who can align themselves with your values and business goals. Handpick the people you want. If you want to increase sales, then you need a dedicated team to help you with your goals.

See Your Employees as Your Co-Workers

Never try to be bossy. Always make your employees feel that you are a part of them. If you try to portray yourself as the boss and others as workers, it may affect their morale. Most people, who have online businesses also hire a virtual team. However still include them in your business and always pay them on time.

Your Employees Are Your Greatest Assets

In case of delayed payments, it must never occur to your employees that you are purposefully delaying payments. In case of dire situations, inform your employees beforehand that there will be a delay. If you have field staff, give those people hands on training. You must make sure that they are well versed with answers to any questions your prospective customers might ask. Try to bring up people within your team. This will greatly boost the confidence and morale of your employees. Employee people local to the place whenever possible and if you have outstation employees support them as much as you can. The quality of your employees can have a direct effect on how well your product sells. If you have a great team, not only will your products be great, but your team will find and solve issues faster and innovate easier.

Be Honest

If you provide services, give a money back guarantee to your customers. If you cannot provide the service as described, never hesitate to make a refund (If possible, a no questions asked refund).

Provide Unmatched After Sales Service

Remember that after you have marketed and sold you product, you must continue to engage the customer, for example via customer support if required. Only happy customers result in repeat buys and quality referrals. Do not forget the fact that word of mouth is still the best mode of establishing a brand and increasing sales.

Set Up an Incentive Program for Your Sales Team

What motivates your employees to sell more other than the monthly pay check? If you have no incentives, then when most people reach their sales quote, they won’t try to sell any more. After all, what’s in it for them to work harder just to make a few more sales? Provide incentive to your sales team and you’ll see that your sales will mostly increase after setting up the incentive. It can be anything from getting featured for the month on your company website or extra pay. See what works with your employees and give them what they want.

Keep Testing

Keep testing your products or service. Experiment with your ad copy, your price points, your website structure, promotions you are running and so on. Only after a lot of testing can you come up with the most effective way to increase sales. If your business is web based, then make sure you use conversion optimization techniques to test and find out the most effective way to close the sale.

Always Over Deliver

It really makes your customers smile when they get something extra. You want your customers to smile and be happy for them to come back to you. For example, if there are small jobs like helping customers with some aspects of their website, do it for them without charging anything extra. These small things will help you retain your most loyal and highest paying customers.

Testimonials

“I’m very selective in the products that I expose our company to, as it’s very difficult to quickly learn enough about a company to have a real impact without burdening the management team. Damian and Peter did an excellent job selling their consulting team’s skills and then followed through on what they sold and over delivered on the project.”
Doug Burgoyne, Founder
Frogbox, Inc.

About Frogbox:
Moving is rated as one of life’s most stressful events. FrogBox was created to fill a need for a convenient, cost effective and environmentally friendly alternative to using cardboard boxes for moving. Our purpose is to make your move as easy and affordable as possible while minimizing the impact on the environment.
Frogbox have secured financing from celebrity investors on the CBC television show “Dragons’ Den” not once, but twice. The little company have expanded to 19 franchise outlets, and Burgoyne have been busy building a solid company while bettering the world.

“Damian and Peter were great through our consulting process! They held many meetings with us to evaluate our business, customers and staff, which enabled them to put together an accurate and achievable plan, to further our business growth and success. They offered great advice and support during the entire process as well as after. We are very happy that we decided to bring Damian and Peter in to help with our growing organization.”
Sonya and Brian Perkins, Founder and CEO
Forever Yours Lingerie

About Forever Yours Lingerie:
Forever Yours Lingerie is a Canadian bra and lingerie store in the heart of Langley, British Columbia catering to women of all sizes. Although personalized bra fittings are our specialty, we also place an emphasis on sourcing and stocking the best lingerie, sleepwear, swimwear, and shapewear brands for women, regular and plus size. Shop with us online or visit us at our beautiful store in Langley, BC for an exceptional lingerie shopping experience.
Forever Yours Lingerie was founded in 1996, by owner Sonya Perkins after she experiencing her own heart-breaking search for support wear and lingerie. From her small start-up store, to the 6000 sq/ft store that it is today, Sonya is still dedicated to making Forever Yours Lingerie the first and best choice for women in the Lower Mainland to find pieces that will make them feel gorgeous, from the outside in!

Your Essential Partner

Running a small business is exciting, challenging and stressful all at once. It takes a special person to be able to handle all the demands of a small business, while at the same time carry the final responsibility for everything. Lots of small business owners initially started their entrepreneurship based on a particular attraction to the business itself. However, as the business grows over time and become more and more complex with an increasing amount of moving parts, it becomes necessary to move the focus from working in the business to working on the business.

Still you are not alone! I am here to help with anything big or small. You may want to have support in developing your future strategy or pivot part of your business to position it for greater strength. Alternatively, you may require extra focus on your current operation to ensure it operates efficiently and is scalable as you execute on your future strategy. Or you may face new leadership challenges which touches at the heart of the organization and everybody’s desire to go all the way.

Running a marathon on your own requires a special psyche as well as a broad skillset to support you in your day-to-day. Running a marathon as part of a team brings in synergies, which can exponentially affect the outcome in the long run. When this team is made up of individuals driven by a deep passion for contribution magic can and will happen.

Getting the edge in business, requires a number of crucial components to all fall into place. Renewing oneself and continually staying relevant with existing and new clients and customers requires one to innovate and identify product or services, which allows the company to provide even more value add. Optimization of existing product and services is another angle which can be used to maintain this relevance. The center for either approach is the successful implementation, which ensures that the vision becomes reality.

It’s often said that the financials are the lifeblood of any company. Without that under control the vision and mission of the company will never be achieved at its full potential. A strong grasp of the monthly cash budget and the various financial statements as well as a deep analysis of variances and bench-marking within these numbers, is fundamental to enable smooth running company.

Irrespective of what you may be facing, I can help! My satisfaction guarantee to you, is that we will actively work together to develop a suitable plan for your business which you can fully endorse. If at any moment you feel that you are not receiving value, you are free to terminate the relationship immediately without any further notice.

Peter Lykke Nielsen, MBA, ACC, CPA, CMA
Performance Coach and Business Consultant

peter.lykke.nielsen@gmail.com
+1 604 338 6555