You may have a great product or service and excellent ideas but your business just doesn’t seem to be hitting those targets?! Never fear, I’ve got a few tried and tested ways that will enable you to quickly and authentically increase sales. Interested? Read on!
Here’s our top 3!
Don’t forget who your friends are! Many businesses make the mistake of focusing on new customer acquisition and forget about existing customers. Cop this stat: it’s more than 60% easier and six times more cost-effective to sell to existing customers than to win new ones. I’ve had clients increase sales by 50% in one month just by looking at how they can add more value and address the unmet needs of their existing customers.
Tip: Often, we become ‘too close’ to our customers to spot these opportunities. Conduct a survey of your existing customers to help understand their priorities and challenges. Ask open questions and allow them the opportunity to give detailed feedback in their own words.
“Loyal customers, they don’t just come back, they don’t simply recommend you, they insist that their friends do business with you.” — Chip Bell, Author of Take Their Breath Away: How Imaginative Service Creates Devoted Customers. (Forbes)
If you want to look into new opportunities, first explore those you can leverage from your existing products or services. These opportunities will have fewer barriers to entry than an entirely new offering or market. Leveraging on your existing offerings also allows you to quickly and easily test the opportunity with a minimum viable product
Tip: Here are a couple of examples to get your creative juices flowing. A client of ours created a new product by packaging their products into a bundled offering, which was more convenient for their customers (win-win!). This client was able to launch within one month and get results fast. Another client took an existing product they were selling in the B2C space and started positioning it into the B2B market. Rather than starting from scratch, they were able to launch and drive results quickly.
Referrals are such an underutilised GOLD MINE and a great form of free lead gen for a company. Dale Carnegie noted that 91 percent of customers said they’d give referrals when prompted, yet, only 11 percent of salespeople actually ask for them. The stats speak for themselves, yet it is still not common practice in business today.
84% of buyers now kick off their buying process with a referral.
You don’t need permission, you can ask for a referral at any stage but be sure to think about your approach before you take the plunge. Make sure to always verbalise your gratitude!
Tip: Make asking clients for referrals a regular part of your sales process. You need to be consistent and make it a habit!
If you’re keen to get results fast, download our Quick & Authentic Ways to Increase Sales guide here