- 9 July 2019
- Written by: Supply Chain
- Category: Digital Learning
Sales can be very complex, especially when you don’t understand the mechanics of what it takes to encourage sales growth in any business. It has definitely turn out to be more complicated in the digital age; there is so much information that it’s often overwhelming. How to deal with this? First of all, the key is to understand the key performance indicators (KPIs) in your business – For example, traffic, leads and conversions. It is obvious that sales don’t come automatically. Yet, one thing is certain, you certainly don’t need a massive budget to get the word out, especially with new technologies. The ability to build rapport and understand the needs of her customers is the most crucial factor to consider.
7 Tips to Increase Sales and Make More Money:
- Your customer’s problems are your problems. Solve them!
- Attract more attention and money will follow.
- Handle objections like a pro.
- Apply persuasion techniques.
- Create more affiliates.
- Use urgency and ethical scarcity.
- Provide something for free to get customers in the door.
1. Your customer’s problems are your problems. Solve them!
If you’re not providing solutions for your customer’s problems, then the probability of you increasing your sales over time will drop. Conversely, if your products and services solve major problems, your chances of sales growth climb considerably. So how do you solve the problems? Talk to your customers and understand them better. Find out what their struggles are and how well your current products or service solve their problems. Such information can only be obtained until you actually talk to your customers.
2. Attract more attention and money will follow
Forget about the word overexposure! Sometimes after criticism, you may be thinking about scaling things back. However, the truth is that money follows attention. So the question is: why would you scale things back rather than push things forward? Make the most of the online world to get more attention to your product or service. You can also participate in big events for more exposure. Take every chance you can get to be in the spotlight. Whether that means social media or big media, do whatever it takes. The more people know your name, the more chance they have to buy more.
3. Handle objections like a pro
Effectively dealing with customer concerns and objections is part of every sales job. It is a natural part of creating value for customers by helping them solve their problems, and at the same time satisfying their requirements. Sales people should avoid seeing objections in a negative way as this is normal in sales. In fact, the key is to find out why the customer is objecting. It is crucial to take the time to recognize the issue if you want to go ahead in a mutually beneficial way. Some of the main causes of sales objections are: a lack of knowledge, a specific concern (for instance, higher price), wrong perception or not having a clear interest about buying the product.
It is up to the salespeople to understand how to tackle the common sales objections which customers usually face. The steps to take are: Listen Fully to the Objection, understand the underlying issue and address the actual concern on your customer’s mind, respond to the underlying issues that you’ve uncovered and do your best to resolve their issue as soon as possible. In the end, make sure that you have satisfied all of their concerns.
4. Apply persuasion techniques
Sometimes, we need to be persuaded to buy. When you can get someone to agree to very small things, they are far more likely to agree to something bigger (like the offer or the sale). Having the ability to build a connection will help to skyrocket your chances of closing the sale. Why? Simply because people buy from those that they like, and with who they can find common ground. It is mainly about understanding the customer, finding similarities and building rapport. The best salespeople are always to looking forward to create a strong connection with the buyer and convince them why they should use the product or service.
5. Create more affiliates
Very often, affiliates are the key to massive rollouts of any product or launch. This can substantially increase your chances for securing any sale, especially when your affiliates are influencers in your field. How to do it? First, you have to create an affiliate program and define a percentage that you’re willing to give up from the sale. Note that even if you have to give away half of the sale to an affiliate, it is far better than having no sales at all. However, selecting the right affiliates is certainly the key to success in the arena of affiliate marketing.
6. Use urgency and ethical scarcity
Two of the most powerful forces when it comes to sales are both urgency and scarcity. It happens all the time. For example, there is a sale that’s going to end soon, that gives some urgency to take action. On the other hand, there are only ten spots left for a particular event, that’s scarcity at play. It is human nature to often want what we can’t have and when there’s a deadline for action, it forces us to act.
It is mainly about basic supply and demand. When supply is low, demand often increases. It is often call FOMO in the pop-culture. When you have the fear of missing out on something, it forces you to act, and often rather quickly. Yet, you have to use ethical scarcity and it has to be reasonable. Or else, you risk the chance of upsetting customers. For instance, you can’t say that a sale is ending tomorrow then restart that sale two days later.
7. Provide something for free to get customers in the door
It is clear that there is real power in the word “free.” It is a powerful motivator for taking action on many levels. Dan Ariely, a Duke behavioral economist and author of Predictably Irrational, conducted an experiment using Hershey’s Kisses and Lindt Truffles. The goal? To see how powerful of a motivator “free” actually is. Test subjects were offered a Lindt truffle for 15 cents or a Hershey’s Kiss for one cent. Smelling a bargain, 73% bought the truffle. Then the price dropped a penny off of each — a 14 cent truffle or a free Hershey’s Kiss. Now, only 31% choose the truffle. Although the difference was merely a penny, suddenly people couldn’t resist the lure of a free snack. There is real power in the word free. However, you can’t just give something away for free. That free offer should start in a sales funnel and lead into things like one-click up-sells, order bumps and even one-time offers.