There are many ways to make a business successful and having an effective sales strategy in place is top of the list. It goes without saying that without sales, a business simply can’t function.
The question is – do you have a system in place to generate sales and is it working for your business?
More and more companies, particularly smaller companies, don’t have sales resources or indeed, any sales people on their team. Instead, the business owner often ends up wearing many different hats and is responsible for everything from marketing and sales to actually delivering the services their business provides.
Whether you have a talent for sales or not, if you’re stretched in too many different directions, then you can’t fully focus on sales and get the results you want. What’s more, if you don’t have a talent for sales and your business is relying on you to seal the deal, then it’s even more important to look externally for sales support.
What does sales involve?
Essentially, sales is all about knowing and understanding your target audience. Who are your customers, and why should they - or do they - buy from you? It’s also about knowing your competitors and understanding why people buy from them.
When it comes to sales, planning is key and involves:
Creating an effective sales strategy (identifying your target audience and how to get your products/services in front of them)
Customer breakdown (identifying your customers and prospective customers for each product/service you provide)
Prospecting (continuously identifying leads and working to convert them into customers)
Understanding your competitors (who they are, who their customers are and why they buy from them)
Understanding potential customer objections and how to respond to these
Sales planning (short and long-term; analysing your current position, where you want to go, how you will get there and how you will measure the success of your objectives)
It’s important that your business has sales targets in place and that you understand what you need to sell to break even every month. Business owners should also have a clear idea of what margin they’re getting on a sale and each new sale should ultimately increase their net profitability.
Looking at different income streams, as well as customer and market trends will also help to tighten your sales strategy.
Improving your prospects
Nurturing prospects will ensure that your business always has a sales funnel in place, whereby there is a continuous stream of prospects, and leads converting into customers. The customer journey is a process which takes time, so it’s worth investing your time in getting it right.
Tips for getting more sales:
Develop good sales skills
Create prospecting strategies and a sales activity plan
Understand your sales process and work on how to close sales and negotiate
Learn how to manage an effective sales process e.g. a CRM system
Understand your business vision and value proposition – why are you doing what you do? Passion for and an understanding of your business will help when it comes to sales.
Most business owners will have heard the phrase, ‘do what you do best and outsource the rest’ and when it comes to sales, this is sound advice.
Whether you need help in creating an effective sales strategy for your team or would like outside sales support, outsourcing can do wonders for your business. In short, it lets you concentrate on delivering your services while someone else manages prospects and secures ongoing work.
At BD Consultancy, we have extremely good results when it comes to helping our clients with sales. If you’d like to find out more about how we can help your business in this area, then call Brigid on 07989 052 344 or email firstname.lastname@example.org