3 Things You Need To Be Doing To Remain Relevant And Continue To Drive Sales
Since early last year, businesses have been scrambling to retain their customers and remain in business. Consumer behaviors have changed monumentally – some spending habits have ended for good, a few are unaffected, and others are foreseeing a steep incline. Whatever the case may be with your business, you need to accept this new reality and prepare for a year which poses its own turbulence. A new government will be formed, which will further affect operations, taxes, finances and much more. Then there’s the open question about when consumer confidence will reach pre-COVID levels. Thus, to withstand any possible disruptions, you need to continually drive sales and generate the sorely required revenues. And, to do that, I have summarized three steps that every business leader should take for a prosperous year and beyond:
1. Master online selling
Customers have become less mobile and reaching them online can bring continuous sales. The pre-requisite here is to have a sales process that supports and is optimized for virtual selling. Why? Because online purchases in the US reached an all-time high of $188.2 billion during 2020 holidays – a 32.2% increase from 2019 figures. These figures hold relevance for luxury goods as well.Tiffany & Co. reported record sales with a 2% increase between November 1st and December 31st, compared to the last year. Therefore, there’s no reason you cannot capitalize on an virtual sales channel if you aren
And if you’re a B2B seller, then you must be seeing the conventional cold calling and email blasting no longer having the same results. Instead, prospects are looking for a more interpersonal approach that facilitates better value creation, educates them properly, and avoids unnecessary bottlenecks. Thus, closing clients over video calling and related methods is your way ahead. And if you lack the skills of closing clients digitally, it’s time you acquired these skills.
2. Position your solution as a necessity
The rollout of the second stimulus package is being viewed positively, and it may lead to more spending by Americans. However, December saw the unemployment rate unchanged at 6.7%, which makes up for 10.7 million people. That said, discretionary spending will take some time to reach normal levels, and so it is best to showcase your product or service as an essential purchase.
The ideal way to go about this is by building your pitch on customer’s problems instead of your services. Identify a challenge that your prospect is facing and offer reliable solutions concerning that problem. Customers appreciate problem-solving content and conversations, which in turn increases the chances at closing deals.
3. Account management for repeat sales
Strive to add value to account management as this will help you retain customers and significantly reduce customer churn rate. This step calls for ideal account management using measures such as regularly engaging with customers for feedback, sharing new wins and positive testimonials, and providing impeccable after-sales services. Also, make it a point to design and release campaigns around educating customers on how to realize the full potential of your product. All this is necessary for repeat sales and customer loyalty.
This sums up three steps that you should take to move in leaps and bounds in 2021. There are obviously more tips to consider here, but these three are bound to shape the course of your business. Before I close, remember that what worked pre-COVID might not work now. Therefore, innovate and adopt new methods to remain relevant and to keep driving sales.