5 Ways to Stimulate Sales!

Posted on Jan 27, 2013 | 0 comments

In the current economic climate, if you haven’t changed the way you are doing business, you are probably struggling to improve your sales growth, business value or overall business performance.

Here’s 5 proven strategies you can implement to improve sales growth and increase the value of your business.

1. Focus On Niche Markets
Selling everything to everyone in a major market can blur your image and is very competitive. Instead, position yourself as a market leader in a niche market.

Niche marketers focus on specific industries or type of customers. Using your historical data, pick a niche market that drives your greatest sales, profitability and quickest sales cycle.

2. Repackage Your Offerings
Promote sales growth by reinventing what you offer customers in a manner that increases sales volume and profitability. Increased sales revenue and profitability comes from bigger offerings. Offer volume discounts, extended contracts or product bundles.

Try small “Early Bird” incentives to increase volume, but keep them small with a time limit. Stand strong on the value your offering provides and stick with the original price. Do not discount pricing on your offerings if they truly provide the value described.

3. Sell Proprietary Products
Unique design, functionality and technology can make your products proprietary, which can increase the desirability of your products/services and the price a customer is willing to pay. Proprietary products offer protection from the competition and enable you to sell your products at a higher price and profitability.

4. Differentiate Yourself
Similar to selling proprietary products, you can sell more at a higher price if your customer perceives that you are unique and different from others in the market. Even if you sell products that are not proprietary, you must show your customers what makes you different to everyone else. When you do this successfully, you become the best choice and selling at a higher price will not be an issue.

5. Get Rid of Underperformers
The best way to dramatically lower your costs and improve profitability is to get rid of all your underperformers – all of them!

Evaluate all of your products and services and shelve them if they are not profitable or help drive sales of other offerings.

Stop all marketing that is not delivering a positive return on investment. You should also evaluate your sales team and eliminate underperformers. This is a perfect time to build a strong team of top performers.

Spending less time on underperformers will help you drive sales growth and improve your business performance.

What Next?

Remember my motto – “if you don’t change then you won’t change!” Doing the same old thing, the same way or working harder will not help you improve sales growth or the value of your business.

Our MMM Business Success Program is all about picking the right market and the right product and making sure your Marketing, Sales Procedures, People and Operational Systems and Processes are all aligned to deliver Maximum Sales & Profitability and Optimal Productivity to increase the value of your business.

Give us a call today to find out how the JWA Strategy Team can help you look at changing the way you do business. Call Paul Blahut on 5585 8555 or email paul@jwa.com.au

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