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December 16, 2020

4 really easy actions to take to get more sales

4 really easy actions to take to get more sales.

We all wish to kick start a successful business. After all, who doesn’t want to be the next Steve Jobs or Bill Gates?

According to Wealth X, 62 percent of US billionaires are classified as “self-made” individuals. In 2019 alone, the Fortune 500 companies generated 13.7 trillion USD worth of revenue, as per the Corporate Finance Institute.

While such figures may seem promising, it is also essential to see the other side of the picture. Medium reports that over 90 percent of all startups fail. And 22.5 percent of businesses fail within their first year of operation.

How do you ensure that your business isn’t among them? By generating enough sales to keep the firm afloat because cash flow issues are the top reason why companies go under.

As crucial as it is, generating sales isn’t an easy task. Here is what you must do in case your business’s sales are lackluster.

1. Focus on current customers

Yes, you should always strive to increase your market share. However, in this battle, you must not forget about your current customers.

As per Small Business Trends, approximately 80 percent of profit is generated from 20 percent of existing customers of a business.
Not to mention that the probability of repurchase stands at 70 percent while attracting a new client has a probability of at most 20 percent.

To improve your sales, don’t just try and cater to new customers. Instead, focus on your current consumer base. Create campaigns specifically for them. This can include email marketing efforts, loyalty programs, and offering impeccable customer service.

Trader Joe’s is known for treating its customers immensely well. Each of its employees on the ground is hyper-focused on each customer that enters the business. Whether it be quick checkout, friendly customer service, or apt product recommendation, the chain managed to instill loyalty through its service.

2. Optimize your online presence

According to research by Think with Google in 2019, a whopping 51 percent of the shoppers said that they use Google to research a product before purchasing it. And 92 percent of the total traffic for a given query goes to links on the first page displayed.

Hence, unless your business has a robust online presence, you won’t be able to generate enough leads, and thus sales. In today’s world, you just cannot underestimate the power of digital media.

Begin by optimizing your website and social media platforms. Boost your site’s load speed, revamp its content, and add the right keywords to your website to ensure that it attains a high ranking on the search engine.
While you are at it, take help from experts who specialize in your niche.

For instance, a general SEO company will not be a perfect company for an industry like the automotive sector. Instead, quality automotive SEO companies will be a better choice. This is because they will be better versed in the nuances of the industry and what works best for your consumers.

3. Launch limited-time offers

Sometimes customers need an extra push to sway them into purchasing from your business. Here, you can leverage their feeling of FOMO. Not only is this feeling real, but when targeted correctly, it helps in improving sales for a business as well.

As per Trust Pulse, 60 percent of shoppers end up purchasing items because of FOMO. Use this by launching limited-time offers.

There are two facets to this: Discounts and products.

You can offer exclusive discounts to certain customers or announce flash sales. The fact that the discount is only valid for a small period of time encourages people to act now. For instance, look at this promotion by Pura Vida Bracelets.

You can also launch limited-edition products. The fact that there is only a handful of these products urges people to purchase them – sometimes even at a premium.

Coca-Cola came up with an excellent campaign for this in 2017.
Following the demand for Marriage Equality in Australia, the beverage company released coke bottles that feature the word love. However, two cans had to be combined to produce the word and display a heart. This boosted the sales of the drink by 80 percent.

Incorporate either type of promotions in your marketing campaigns for a better revenue stream.

4. Use email marketing

According to Statista, as of 2019, there are over 3.9 billion email users, hence email marketing is an effective way to convert customers. DMA reports that a dollar spent on email marketing leads to a return in investment of 42 dollars!

When your sales are decreasing, it is time to address customers to ensure that they don’t forget about your brand.

Whether it be cart abandonment emails or specific campaigns, there are various strategies you can use. However, make sure not to overdo it. Or else, it may seem like spam.

You can also use emails to gain feedback from your customers. This will help you to gain insights about the elements you can improve upon to boost your sales.
Often, a company is lacking in some way, but it doesn’t know it. Consumer feedback can be a real eye-opener for businesses. It can tell you what grievances a customer may have with the company and what they wish it would do better.

Airbnb does a great job of asking for feedback via its email campaigns. They make the content personalized and pithy to grasp and retain customer attention. The company also brands its communication consistently for optimum awareness and recognition.

Generating enough sales for the success of your business is not an easy task. However, it is not impossible either. With the right strategies and tactics, you can surely improve the performance of your business.

Prior to implementing different measures, make sure that your team is motivated, and your product is of top-quality. Without competent resources selling your product and the item being actually worth the money, no hack will be able to help.

— Alma Causey is a mother, wife, logophile and a professional blogger by choice. She has completed her masters in English literature from the University of Groningen. With her unique approach towards content marketing, she brings worth a second read blogs to life. Oh, Alma is incomplete without cats. Find her on Twitter: @Almacausey. And you can check out some of her past work at Muckrack.

• Posted 12.16.20 at 05:51 am by Roy Osing
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