In sales, nothing is more important than your staff. Whether you're selling insurance policies to big businesses with even bigger cash payouts, or you're selling tea cozies door to door with even cozier cash payouts, nothing gets done without your staff. And efficient and positive-thinking sales staff runs like a well-oiled machine (not real oil, though, otherwise your employees get all slippery). But a depressed, drug-addled bunch of rag tag ruffians off the street with no personality runs like a drunken baby. It's got no idea where it's going or what it's doing, it's completely without social skills, and yet, in it's own way, it's still cute.
Here are 5 top tips for Stimulating Sales Growth
- 1. Focus on Niche Markets
Selling everything to everyone in a major market can blur your image and is very competitive. Instead, position yourself as a market leader in a niche market.
Niche specialists focus on specific industries or type of customers. Based on previous sales history, pick a niche market that drives your greatest sales, profitability and quickest sales cycle.
Focus your efforts on the proven niche market and this will drive sales growth with the least amount of effort. Niche market leaders generate strong sales revenue and profit growth driving up the value of their business.
2. Repackage Your Offerings
Drive dramatic sales growth by reinventing what you offer customers in a manner that increases sales volume and profitability. Bigger sales revenue and profitability comes from bigger offerings. Offer super sizes, volume discounts, extended contracts or product bundles.
Try small “Early Buy” incentives to increase volume, but keep them small with a time limit. Stand strong on the value your offering provides and stick with the original price. Do not discount pricing on your offerings if they truly provide the value described.
Provide three options or price points. Customers are more likely not to choice the lowest price. Use a set of three options to move customers from the lowest to the middle price range. Make sure each range is well defined and the differences stand out.
Repacking your offerings will increase sales revenue and reduce your sales and marketing costs, driving up the value of your business.
3. Sell Proprietary Products
Unique design, functionality and technology can make your products proprietary, which can increase the desirability of your products/services and the price a buyer is willing to pay. Proprietary products offer protection from the competition and enables you to sell your products at a higher price and profitability.
4. Differentiate Yourself
Similar to selling proprietary products, you can sell more at a higher price if your customer perceives your products and services are unique and different than others on the market. Even if you sell products that are not proprietary, you must show your customers what makes you different than everyone else. When you do this successfully, you become the best choice and selling at a higher price will not be an issue.
5. Get Rid of Underperformers
The best way to dramatically lower your costs and improve profitability is to get rid of all your underperformers. I mean all of them. Evaluate all of your products and services and shelve them if they are not profitable or help drive sales of other offerings.
By now you've got your office in tip-top shape, if not, you're obviously a failure at personnel management and should go back to clown college (if you've never attended a clown college, feel free to consult your local Yellow Pages for a number to call about enrolling). The main thing is to stay focused, and be aware of every little thing that goes on in your office. Spy on your employees, read their emails, regularly weigh them to detect any changes in their eating habits, whatever it takes. Remember, as long as that sale gets through, nothing else matters