Even in an uncertain economy businesses still need to be generating sales, and one of the biggest concerns is how to increase the speed of a sale and how to hold onto that customer for the long haul.
Here are 4 tips to help refine the process of conversion:
Sell the Solution, not the Product
With the growth of many new small businesses during the pandemic it is more important than ever to show your customers why your product or service is valuable to them and why they should buy from you above anyone else. This is essentially the initial step in the process of creating brand value. Big brands like Nike, Coca-Cola and Ikea have built their brand value over time but smaller business need to really focus on selling the solution and understanding and communicating the most meaningful message to their client (not just simply a product feature but the reasoning behind why this makes their life better).
Make Sure your Sales Process is Smooth & Strong
You are only as strong as your weakest link. Assess if your sales channel is as strong as it should be and identify where you are letting your business down. Is this in your branding, does this really connect to your ideal client? Is your website outdated and doesn’t allow for a smooth user experience? Are your staff not asking the right questions or selling the brand promise? Any or all of these things will effect how a client sees and interacts with your business. Make sure all customer touchpoints align and you know exactly where your client is on their journey so you can transition them to a sale.
Sell the Quality or Savings that Working with You Gives a Client
What is it about your product or service that provides fast rewards for your potential customer? Is it quality over price? Or speed in delivery? Sell this via testimonials that show a fan base advocating for this product or service and communicating the real time benefits to using it.
Adding Value by Rewarding Your Customers
A common sales strategy is discounting but you want to ensure that you don’t discount low margin products and cut your nose off to spite your face. Ways to get around this would be to bundle your products and offer a high margin item together with a lower margin item (perhaps a slower moving stock) at a discounted rate. Bundle plus reward your customers. Reward programs are also a great way to increase your customer base and your probability of selling to an existing client is around 14 times higher that a new client. So setting up a reward program really does help both you and your customers.