A company can only thrive by generating profit. While entrepreneurs may initially operate at a loss to cover expenses, attracting customers should be a priority from day one. Despite the current market saturation, classic sales methods can still yield results.
This article highlights the steps small businesses can take to acquire their first customers, from developing the best creative briefs to refining products. Keep reading to discover how to organize your sales strategy effectively.
Step #1: Write a creative brief highlighting your target audience
According to a survey conducted by The Chartered Institute of Marketing, 59% of business owners acknowledge that their management decisions are often made without considering the needs of their target audience. This oversight can be a critical mistake, as it’s challenging to sell products or services that don’t address anyone’s needs.
Before diving into any marketing or sales activities, it’s crucial to develop a creative brief—a document that outlines your strategic vision. The most crucial aspect is understanding your target audience. Additionally, it’s beneficial to consider your brand’s tone of voice and preferred marketing channels right from the outset.
FAQ: What are the top three business strategies to increase sales?
Three popular business strategies for boosting sales include targeted marketing campaigns, direct customer communication, and product diversification. The first approach implies analyzing your target audience and tailoring unique offerings for each segment. Direct customer communications involve investing in a Customer Management System to nurture long-term relationships. The latter approach considers dividing your product into groups and offering customized service packages to meet the needs of different consumer types better.
Here’s a guide to crafting a creative brief that can help you include all the necessary points in your document:
- Define your company’s mission and values. This step helps clarify your business’s vision. For example, Netflix aims to entertain the world, while Google prioritizes providing accessible and useful information. Align your values with your mission, such as valuing environmental sustainability or promoting open communication.
- Establish particular goals. For example, they could attract customers from a specific industry or improve sales department efficiency thrice.
- Identify your target audience. Consider who purchases your product or service. While there may be multiple target segments, focus on one if you’re a startup.
- Outline your brand messages. Highlight several key points you want to convey to your target audience. For example, if targeting young mothers, emphasize how your products simplify their lives.
- Build a unique selling proposition. Determine what sets your product apart from competitors. For example, Uber emphasizes its role in connecting passengers with drivers rather than merely transporting them.
- Set deadlines. Make sure your goals are measurable and assign realistic timelines. Specify exact dates in the document for reviewing and evaluating results.
- Determine budget and resources. Understand how many sales managers need to be hired and the required budget to support them. Also, specify which marketing channels you’ll utilize and set financial constraints.
To ensure the creative brief’s effectiveness, revisit information and assess performance periodically.
Step #2: Build your sales funnel
When you’re just starting a business, it might be unclear how to attract customers. That’s where the sales funnel comes in handy. To put it simply, it’s the path a user takes before converting into a customer. For example, for online stores, it might look like this: searching for information online → visiting the website → engaging with content → making a purchase.
A well-structured sales funnel can help you understand what tools you need. In the example above, a business might invest in creating a user-friendly website, SEO optimization, and content marketing.
FAQ: What do companies do to increase sales?
The first thing to start with is to offer a genuinely valuable product that solves your customer needs. No matter how effective your sales and marketing efforts are, it’s impossible to sell a solution that doesn’t resonate with the market demand. To boost sales, analyze your competitors, understand real needs, and then develop your unique product.
Step #3: Track sales performance
Evaluating and improving sales performance becomes challenging if you lack initial metrics. Right from the beginning, establish reporting practices for your managers. For example, they can provide updates on call volumes and conversion rates. Employing specialized software like a Customer Relationship Management System is good for monitoring sales metrics.
Step #4: Increase customer retention
There is one simple rule in business—retaining existing customers is easier than acquiring new ones. Research indicates that acquisition costs are five times higher. Besides, enhancing customer retention by just 5% can result in profit increases ranging from 25% to 95%.
If you’re thinking about boosting your business, focus on your current customers. For example, you can directly ask them what could enhance their experience with your company or introduce new services.
Step #5: Monitor industry trends and adapt your solutions
Some years ago, sales managers relied on aggressive product presentations, pushing users to make purchases. However, this strategy now has minimal effectiveness because the emphasis is on delivering value to the consumer.
As a result, sales trends are evolving. Some of the more significant ones in 2024 include:
- Personalization. It involves providing recommendations based on previous purchases and user preferences.
- Customer success focus. Companies are now prioritizing solving their customers’ problems to foster long-term relationships.
- Social selling. This technique involves creating a human brand on social media. Sales are made on behalf of real people, not companies.
FAQ: How can you attract customers?
There are various ways to attract new customers. For example, offering discounts, launching advertising campaigns on social media, or participating in thematic networking events. It’s best to choose several strategies so that you can later evaluate their effectiveness. However, it all depends on the type of your business. For instance, personalized email marketing may work well in B2C, while in B2B, it’s important to always stay on the radar of potential clients.
Conclusion
A business must prioritize problem-solving and customer satisfaction to succeed in the market. This involves having a clear strategy and tactics, as well as taking care of existing clients. Furthermore, understanding how to evaluate your small business for sales performance will help you determine your starting point and track your progress.
