If you need to increase sales, you may be looking for sales strategies that will benefit you. Read this article for tips on increasing sales for your business.
How would you like to increase sales?
Having enough sales is consistently one of the top challenges facing businesses every day.
As a small business owner, you’re responsible for every facet of your business. You probably do everything in your business, too, from sales to administration to bookkeeping and delivering a top service to your clients.
How do you increase your sales to create a consistent cash flow and relieve some of the pressure of your business?
Read on for the top tips to increase sales in your business.
Do You Have a Sales Process?
The first step to increase sales is to look at your sales process. If you don’t have one, it’s time to create one.
The Harvard Business Review noted that companies that have a formal sales processes have more revenue than those who don’t.
Your sales process should include the following stages of a sale:
Each step in the sales process should be documented and outlined. You’ll also need to outline how much time is spent on prospecting and following up, too.
As you develop or evaluate your sales process, see the entire process from your customer’s perspective. Consider what would make the sales process a great experience for them.
That’s not only how you’ll increase sales, but how you create a pipeline of repeat and referral customers.
Increase Sales by Helping People
Relationships are the lifeblood of any business, whether it’s a brick-and-mortar store or an eCommerce business with customers all over the world.
This is a long-term approach to increase sales, which is exactly why many businesses don’t do it.
As part of your sales process, reach out to people within your network and ask them what they need to grow their business.
Maybe they need a connection to a company you’re familiar with or they need information.
By positioning yourself as a giving person, you are establishing trust and credibility with others in your network.
Not only that, giving just feels good.
The key to this process is when someone asks for help and you commit to doing something, make sure you follow through and do it. Also, help people without the expectation of anything in return.
Failing to follow through on a commitment can damage your personal credibility and trust.
Do you understand the difference between working in your business and working on your business?
Working in your business means handling administrative tasks that keep your business going.
Working on your business means doing daily activities consistently that will keep your business growing.
Where most businesses get stuck is they’ll work on activities that will grow their business. Then they’ll make a bunch of sales and build momentum for a lot of growth.
Then they stop the business development activities because they have a massive pile of work to do to support the increase in sales.
Then the sales dry up. The cycle starts again, and again, and again.
That’s an exhausting and stressful way to do business.
One way to counter that is to outsource tasks. You can hire a VA for customer service tasks or hire a bookkeeper for accounting tasks.
Getting those tasks off of your plate will free you up to focus on business development work, which will lead to a steady stream of increased sales.
Hire the Right People
One seemingly obvious way to increase sales is to hire a salesperson.
Let’s face it, you, like most entrepreneurs, got into business because you’re great at delivering a service, not because you’re great at selling.
Hiring a salesperson can free up your time, so you can focus on what you love and take the stress out of your work.
The thing to remember is that you can’t hire just anyone. You need to hire someone who shares the company’s values and fits with your mission of the business.
When hiring, be clear about what you expect from them. What sales quota will they have to meet? How often will they be evaluated?
If you need more help hiring the right person for your business, start by downloading this free workbook on hiring to grow your business.
Ask for Referrals to Increase Sales
The fastest way to increase your sales is to ask your current customer base one simple question.
“Is there anyone you know who is struggling with (the problem you solve)?”
Dale Carnegie observed that 91% of customers would give referrals when asked. Yet, only 11% of salespeople ask.
As you’re developing or recreating your sales process, create a system for asking for referrals.
Don’t be shy about it. Remember that your customers are willing to give a referral.
All you have to do is ask.
In order to increase sales, you’ll have to figure out what is and what isn’t working in your current sales process.
This is yet another reason why having a sales system is critical in your business. You’ll be able to figure out if there are breakdowns in your prospecting, closing, or in other parts of the process.
For example, if you’re sales have dropped, you can check your sales numbers. You may find that you have plenty of prospects, but you don’t send out proposals. You’re now able to pinpoint that there may be a breakdown in your qualifying process or presentation process.
When you measure your sales performance, here’s what you want to track:
- Number of calls made
- Number of qualified prospects from those calls
- Number of appointments set
- Number of proposals sent
- Number of sales
Out of those numbers, you’ll be able to discern your success percentage and speed in turning a prospect into a sale.
The Road to Increase Sales
Sales is one area of business where many entrepreneurs struggle. It’s not because they’re bad salespeople. It’s mostly because they’re trying to do too much and there’s not a system in place to track successes and opportunities.
With the right systems, businesses can create income on demand.
If you would like to grow your business, listen to That Southern Business Show for tips and strategies to help you grow your business.