How to increase sales: effective techniques and tips
How do I increase sales? It is a question that haunts every salesperson. After all, what is the point of having the best product or service if you can't sell them?
In this article, we discuss a few proven strategies you can adopt to increase your sales volume multifold.
Why is increasing sales important?
What are sales and why is increasing the sales volume important? In simpler terms, sales are the number of products or services sold during a period by an organization. And it is through sales that you drive revenue, sustain your organization, and grow your business.
In other words, there is no way a company can grow without increasing their sales volume.
What does it mean when sales increase?
When you increase your sales or sales volume, you are not just bringing money to your company, you are also:
- Gaining customer loyalty
- Positioning your brand as a market leader
- Improving company culture
- Having a better understanding of your customer needs
- Diversifying and improving your service or product
An increased sales volume can also tell you how well your product or service is performing in the market. However, to understand the increase in sales volume you need to set up a set of KPIs which helps measure and understand your company's performance and your marketing strategy.
Analyzing these metrics will tell you if you need to change any of your sales strategies or add a few new ones to the mix.
Is increasing sales a strategy?
Indeed, increasing sales is a strategy every business must adopt. To increase sales, you need to have long-term as well as short-term strategies. The sales strategy must act as a guide with clear objectives that helps sales persons perform competitor analysis and position your product in the market.
Different types of sales strategies you can adopt
Strategies to increase sales can be divided into two categories:
Inbound sales strategy
An inbound sales strategy focuses on driving customers and leads organically into your business using your website, email campaigns, social media ads, free trial signup, etc. Once the leads come in, you should also have a strategy to identify and convert quality leads.
Outbound sales strategy
An outbound strategy is all about reaching out to your potential customers using a variety of sales tactics such as cold calls, social selling, cold emails, etc.
Sales strategy blueprint
To improve your sales strategy and increase your sales, you can implement the following actions:
- Define a clear buyer persona
- Use both digital and non-digital platforms to drive sales
- Become a thought leader
- Change and adapt quickly
- Focus on existing customers while gaining new ones
- Measure your sales volume
- Analyze and understand data acquired from various sources
Here are some of the proven ways to increase your sales
Benefits of having a good sales strategy
So, what exactly are the benefits of creating strategies to increase sales? Below listed are five of them:
- Better conversion rates
- A better understanding of your target audience
- Access to actionable insights and tasks
- A better understanding of your team's performance
- Improved focus on your training initiatives
What are 4 general ways to increase sales?
Your sales volume says a lot about your business's performance. And it is time for us to reveal four general tips that will help you increase your sales.
Target repeat customers
It is important that you get new customers, but it is equally important that you retain the existing ones. There are many ways to keep your customers loyal while driving new ones. To retain your repeat customers, you can try initiatives such as:
- Reward points that can be redeemed at the time of purchase
- Exclusive coupons
- Referral programs
- Monthly subscription
All you need to do is consistently deliver great products/services that exceed your customer's expectations.
Understand customer's behavior after the purchase
There is no better way to increase your customer retention than understanding their post-purchase behavior. You need to encourage the customer to post a review about your product or service. You can also reach them via SMS or phone to ask about their experience.
If they post a good review, it is a free advertisement for you. If they post bad reviews try to address the issue without much delay. Also, make sure that your executives are well-trained to offer the customer the best post-sale experience.
Upselling is all about encouraging your customers to buy a high-end version of your product or service. For instance, a salesperson could show a buyer a better version of a product in a side-by-side comparison to the basic version.
Most often the customer will end up buying the advanced version of the product as they get more features. The strategy works online and offline alike.
Widen your reach
What if we tell you that you can reach more customers from various geographical locations without even opening multiple offices? Yes, you can have your virtual office in many parts of the world without really having an office with VoIP-based .
You can go for a solution like Ringover and enjoy:
You can get all these for just $19 per user / per month. Imagine using VoIP numbers to reach customers across any state and internationally. Don't you think your sales will skyrocket if you could get a toll-free number for potential customers across the globe to reach you?
If you want to establish a global presence with a , Ringover can help you set it up in a matter of minutes with a few clicks of your mouse. They offer three plans, including a custom one.
To learn how to increase your sales using a cutting-edge VoIP business communication system, with Ringover today.