5 Effective Ways to Raise Sales in the Economic Recovery
When I mentioned this statement to one of my business clients he asked me whether I had been listening to and reading the news on the state of our economy. Of course I have, and that is precisely my point. If you want to think recession - you will have one. If you want the economy to recover - it will. Is the cup half empty or half full! The best sales people in the world always see the cup more than half full of opportunities. As an executive coach I thought it would help to share my perspective with you.
Let's take a few moments then to list 5 effective ways to increase sales. Hold onto your seat, you are going to be in for a fast ride!
- Contact your existing clients and customers - This is a time proven method - ask them if there is anything you can help them with. Is there an opportunity for you to spend a brief amount of time chatting about their family, their work, perhaps even the work you did for them or the products sold to them? The point here is - touch them, and touch them now. Let them know you care. Don't try and sell to them. Reestablish the relationship you have with them - they will appreciate your sincerity and thoughtfulness. As a business advisor I continue encouraging my clients to practice this basic skill - why - it works!
- Identify the emotional need your products and services satisfy in your clients and customers - We all recognize that clients and customers buy to satisfy an emotional need. What would your clients and customers say are their emotional needs that are satisfied? Have you asked them? Can you relate to these needs? Were you surprised by the answers? Is there industry research you can access to help you identify these answers? Are you in tune with the emotional buying needs of your customers? Most executive coaches can help you develop a simple process to put this into practice.
- Review your sales activity in the past year by product and service line - Identify the products and services that are your best and not so best sellers. Ask your staff, clients and customers, and suppliers why they think certain products and services are better sellers than others. Ask them also what purchasing trends they see for the next three to six months. Ask them if there are products and services you could offer that you are not offering now. Now, trim your inventory for the not so best sellers - consider further discounts or other ways to trim down. One customer I know is using eBay to trim their inventory. Again, are you working with your business advisor to move effectively through this process?
- Evaluate whether or not your advertising and marketing efforts are working for you - Is there a way you can track the efficiency of your different advertising messages? Do you have coupon codes, do you ask customers where they heard about you (all the time), have you asked your advertising representative whether or not, in their professional opinion, can the advertising message could be modified, repositioned, discarded? Should you consider advertising in a different medium - radio, TV, newsprint, Internet, etc.? Do you have an marketing consultant? An excecutive coach? They can help to guide you.
- Identify if your staff are Aligned with your products and services - Yes, do your employees share your company marketing message - do they believe it, do they breath it? They are your best sales tool, especially when in direct contact with your target customer and client. If they have a less than positive outlook, think that you don't care about them as valued employees, may not want to listen to their suggestions for enhancements and improvements - it will most certainly impact the way in which you and your products and services are represented to your customers.
Does this all sound too simple to be true? Perhaps, but oftentimes sales fall and businesses fail because they neglect the business basics to sales and customer and client relationships. In my executive coaching practice I ask for commitment, understanding, and focus. The economic recovery will occur when all businesses regain an understanding to the roots of their success - in sales, in corporate focus, in setting and achieving goals, strategies, and plans. We will create a recovery - let the fun begin!
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All 5- points are right-on. Especially the first point. You have to add value at all times to your clients.
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