It is often small and medium sized businesses that need to increases sales the most. The dilemma? It is because of their small/medium size that these businesses often do not have the resources to do so. As such, how do you increase sales when you have little-to-no budget to spend?
Without a sales team, or the internal resources to invest in costly advertisement campaigns, the SMB owner must be savvy about how they invest, as the bottom line is directly impacted in every marketing spend.
The answer to increasing sales is improving your marketing. Although marketing and sales are not the same, they have a symbiotic relationship that is key to the success of your business. Marketing is everything that you do to reach and persuade prospective clients. The sales process is everything that you do to close the sale and get a signed agreement or contract.
To move a prospect from marketing to sales, you’ll need to develop a plan that combines both sales and marketing. This will enable you to reach prospects at all three levels: cold, warm, and hot.
As an owner of a marketing agency that specializes in helping small and medium sized businesses increase sales through the development and implementation of a marketing strategy, I’d like to share with you a few tips on what should be included in your marketing plan, as it specifically relates to sales growth.
1. Investigate Your Direct Competition
Always know what your competition and industry are doing, to help assess what is working, and what isn’t. For example, if your competitors do not use social media, that might be an area in which you could shine.
2. Chose One Product or Service to Focus on
We have a tendency to want to promote everything; to set out the largest net, so to speak. To increase sales, however we want to direct our prospective buyers to a simple “yes” or “no” decision. You can do this by developing separate promotions for each product or service you sell. Or, you can combine several products and services into one package for one price. In any case, always make your prospective customer’s buying decision a simple “yes” or “no”. It produces the maximum number of sales.
3. Start with your Biggest Benefit
Tell your potential customer upfront what the biggest benefit is of your product or service. Leading immediately with your biggest benefit captures your prospect’s attention, and provides a compelling reason to continue reading or listening to your message.
4. Make it a Personalized Approach
People buy from people they feel they know, so develop a personalized sales message for each product or service, and tailor it to the specific interests of prospects in each market you target. If you are talking to the 18-24 year olds, use terms and a style that they can relate to.
5. Provide Real-Life Examples
Generate more sales by telling your prospective clients exactly how your product or service operates in real life – share real-life examples and standards! For instance, “Our Emergency Response Team will respond within 30 minutes”, or “Available 24 /7, or the repair is free”. This differentiates your service offering AND motivates prospective clients to call you, by showing that your promises aren’t simply online fluff – they’re the truth!
6. Customize Your Message Online
To give your clients that personalized approach on your website, and in all online marketing, create a landing page on your site that is specifically customized to your audience. For example, if you have an advertisement for school supplies, link that ad to a new page on your site that speaks directly to this audience.
7. Ensure Proper Tracking
When considering any marketing tactics, ensure that there is proper tracking and measurement in place. How will you know what your ROI is on any campaign if you do not track it? Every campaign you create must have a measurement in place before it is launched. Measurement forces you to outline your expectations and goals for your campaign. For example, when placing an online advertisement, your goal might be to generate 15 leads and 2 new clients. The measurement should tell you not only if the campaign reached your goals, but also if it should be considered next year, and highlights any opportunity for improvement.
With a strong marketing strategy, you can create a robust marketing and sales plan that will increase your sales.
Do you have any questions about the difference between marketing and sales, and their differing tactics? Do you have any other marketing or related questions for me? Please share your questions and comments below.
I think you got it spot on with finding your biggest benefit. A lot of small businesses/sales people try and diversify to early on. Find your one selling point and hammer it home with customers until they’re excited and are asking you for the others.
Thanks for your comment Ray. Sounds like you have leveraged your biggest benefit in your marketing and it is working for you.
What is the best way to market your company with no budget but got the resources like web, phone and travelling?
Thanks for your question Amish. Unfortunately there is not a simple answer. In general, broad strokes, if you have a solid brand and have clearly identified what your business is, including the benefits and the audience, then “no budget” marketing ideas might include: networking within social media networks; connecting with free online and offline industry-related publications; hosting your own webinar series; networking through family and friends. You might also take a look at the Boards of Trade in your area – I wrote a blog http://ourcreativeworks.wordpress.com/2012/07/05/why-do-we-all-need-advice/ that might help you in that regard. I hope this has been helpful.