Increasing sales targets involves planning and changes in practices that, in fact, can be just small day-to-day adjustments that do not require large investments in tools and employees, for example. If your SME (small and medium-sized business) has set this as a goal for the coming months or year, check out the 5 sales tips that we've separated for today's content.
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1 – Identify which way to go
First of all, the manager needs to recognize which of the 3 paths he will follow to leverage his business sales. They are: expanding the customer portfolio, increasing the average frequency of purchases and increasing the average ticket.
Therefore, exercise which hypotheses would increase the customer base; which practices would lead to an increase in the average purchase frequency and; which would generate an increase in the average ticket. In the end, evaluate which path is the most viable for your business to put it into practice.
2 – Update yourself on the market
Try to stay informed about economic and market news. It seems something quite out of the company's day-to-day reality, but if your supplier imports goods, the fluctuation of the dollar has a lot of influence on your negotiation with it, making it more expensive or cheaper. Therefore, keeping an eye on these issues can put you one step ahead of regional competitors, to stock products that will become more expensive later, for example.
3 – Study the competition
Observing the competition yields many insights to refine the business. With practice, it is possible to better understand the level of service offered by them, what marketing strategies they use, the level of quality of their products and services. During the observation, it is very important to have a critical eye, because, obviously, not everything that the competitor practices makes sense for its customers and its infrastructure. This is a study to verify, within its limitations, what is possible to do, to add value to your product or service.
4 – Establish a differential for your business
In the case of retailers, a common concern is the differential, since the competitor sells exactly the same product. To stand out, it's important to understand what your main attribute is and focus your efforts on improving it. It sounds pretty abstract, but it's not. This positive highlight over the competition can be ultra-fast delivery, very responsive personalized service via WhatsApp, free shipping to a certain region, etc.
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5 – Measure your results
The last of our sales tips is that, during the execution of the planning, the manager monitors the results he is getting on conversions through social media ads, Google Ads or distribution of flyers in the street, in order to improve settings or perhaps resign to strategies that do not generate return in the middle of the path. In the end, this flexibility saves company resources to be directed to what works.