HOW TO DEVELOP A SELLING STRATEGY
Finding new people to buy your product or service is an important part of the entire sales process. It may be tough for some people, but if your goal is to increase sales then you need to figure out which sales strategy will be effective for your target customer. Do you have a great product but aren’t gaining the right customers to buy it? That’s okay, these strategies will help. Are you not sure how to approach your customers or have a confusing sales message? That’s okay, too. I’ll show you a few helpful tricks for that.
Use the following sales strategies, tips, and techniques to gain more of the right customers who will buy your products.
WHERE ARE YOU NOW AND WHERE HAVE YOU BEEN
Before you can begin to plan the future, first look toward the past. Do an assessment of the previous year of business and ask questions such as:
What did you do last year?
Dig into your sales numbers as well and look at key indicators such as:
How much did your team sell?
Who sold it?
To whom did they sell it?
How much will result in repeat business?
Which clients brought in the least and most profit? Make sure to add in support time!
Which clients had the shortest sales cycles?
Which clients had the highest revenue?
What has changed?
How are you positioned to achieve the revenue targets you have identified?
Where is the most logical place to look for growth?
What exists to support the desired growth?
What additional support will your team need to achieve the desired increases?
By understanding where you have been, you can begin to determine where you should go.
IDENTIFY THE PROBLEM CLEARLY
What kind of problem does your customer have that you can solve? If you have identified your customer correctly, these people will pay you to solve their problem.
Sometimes the problems are obvious and clear.
Sometimes the problems are not obvious, or unclear.
Sometimes the problems do not exist for the customer. If the problem does not exist, the customer will not buy your product.
CLEARLY DEFINE YOUR CUSTOMER
Who is the person who would most likely buy your product and buy it immediately? Create an avatar of that customer. Ask Specific Questions like;
How old are they?
Are they male or female?
Do they have children?
How much money do they make?
Do they have an education?
PEOPLE BUY BENEFITS
People don’t buy products, they buy the results that the product will give. Start your process of identifying your ideal customer by making a list of all of the benefits that your customer will enjoy by using your product or service.
SET A CLEAR MARKET STRATEGY
Now that you have assessed where you have been and what has worked for you, start thinking about where you are going.
This is the time to think about a market strategy. Consider the following questions based on your work so far:
How much can you grow existing accounts?
How can you leverage existing accounts to get referrals?
How much can you increase revenue inside existing territories with existing products?
How much can you increase revenue inside existing territories with new products?
How much can you increase revenue outside existing territories with existing products?
How much can you increase revenue outside existing territories with new products?
It is likely that the cheapest, fastest revenue will be from existing accounts, then referrals, and on down the line. The slowest and most expensive new revenue will result from cultivating sales for new products in new territories. I would start this process with large account plans for your top 10 clients.
USE CONTENT AND SOCIAL MEDIA MARKETING TO YOUR ADVANTAGE
There are so many more ways to get your product to your customers than ever before. What’s the best part? They’re all free. You can use social media such as Facebook, Twitter, and your blog to your advantage. By building relationships with your customers through these channels you can access more people than ever. Some of the benefits of content marketing include:
More access to qualified leads.
More channels to sell your product.
Lower costs to acquire customers.
Here is a graphic of how quickly data is generated across the internet. Take a look at social media websites. Wouldn’t it be amazing to leverage this audience? You can!
DEVELOP YOUR COMPETITIVE ADVANTAGE
Define your competitive advantage; the reason for buying your products or services, in terms of the benefits, results or outcomes, that your customer will enjoy from purchasing your products or services, that they would not fully enjoy from purchasing the products or services of your competitor. Focus on the benefits of what makes your product better than others.
PICK THE RIGHT PRICE
Do market research on your competitors to determine the right price. If you have a high-priced product, be prepared to over-deliver quality to your customers. Price can be determined by the “perceived value” of your product. If you can make your product seem superior to your competitors, you can charge a higher price.
LEARN PROPER NEGOTIATION TECHNIQUES SKILLS
Negotiators are usually quite concerned about finding a solution or an arrangement that is satisfactory to both parties. They look for what are called “win-win” situations, where both parties are happy with the results of the negotiation.
FOCUS ON KEEPING YOUR CUSTOMER FOR LIFE
“Once a customer, always a customer.”
Once a customer has purchased your product, this should not be the end of your relationship with them. Focus on keeping a strong relationship with your customer. This will only create more trust and add value to your product.
Need some help getting started?
At STRUGZ, we don’t just deal with public relations and legal business management, we also have the best hands that can train your work force, to enable them implement these selling strategies. Our consultants are always there to give professional advice on how to go about your selling strategies, to build you a better brand, and create a better market for sales representatives, that can boost the growth of your brand or company. Don’t do it alone, let us help you get started with your selling strategy. Book a session with us;
Contact us today:
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Office address: Office33- No. 12D Wole Ariyo Street, Off Admiralty way, Lekki phase 1, Lagos, Nigeria.