Every business owner wants to increase sales. Of course there are a few methods that are guaranteed to produce better results than others. Below, I’ve listed 5 sure-fire ways to help you increase your sales and overall revenue in your business.
1. Product line – review your product line to make sure your core products and services are targeted to a specific group of people and address a few of their most pressing problems. If your products and services do not meet a need, address a challenge or solve a problem, you’ll be hard pressed to find buyers. Additionally, make certain to promote a core line of services that your business is known for. Once you become known for a particular product or service, your customers will be more likely to refer and recommend you to others.
2. Projections – pick a date to forecast sales projections in your business on a weekly basis. This way, you know how many leads you have and how many people you are going to close each week. Keeping a record of where your prospects are in the pipeline is another way of saying: “who’s in your sales funnel?” This practice gives you a crystal ball view of the amount of money that is coming into your business each week. Of course this process involves creating a functioning sales funnel system that involves detailed descriptions for optimal measurement and analysis.
3. Process – focus on revenue generating activities. Ask yourself, what is going to get you closer to the sale? You should be perfecting your marketing plan and sales funnel process. Random acts of marketing will not cut it. You must market your business every single day. Whether you’re using on-line marketing strategies, such as; Internet ads or social media – or – offline marketing strategies such as; networking events, you must be consistent.
4. Profits – make sure that your return on investment is at a healthy rate. Your profit margin should be 150% to 200% above what it costs you to make the item you are selling. Without a profit, there is no need to sell that product or service. It’s that simple. You must become an expert at measuring profit margins and what is producing results in terms of return on investment.
5. Review– make sure to review everything, then “rinse and repeat”- This step is where you track and measure what worked and eliminate what did not work. You should seek to understand every strategy and every tactic….figure out what worked well and why it worked so well. Formulate benchmarks for success so you can measure your progress. Once you have the answers you need, it’s time to repeat the process. Make sure you are setting up realistic and S.MA.R.T. goals. (Specific, Measurable, Attainable, Realistic and Timely.)
As you can see, if you follow these simple steps, you’re sure to experience an increase in your sales because each method above focuses on an area that effects your sales, sales process and the bottom -line money you need to add to your business.
We all know that without sales coming in, there is no business to speak of. Mastering the proper steps to grow your sales will benefit you in the long run. The key is to be diligent and consistent each step of the way.
Do you need help in this area? Reach out to us and allow us to give you a PROFIT plan via our Revenue Breakthrough Strategy Session.
Be sure to leave a comment. Tell us what simple steps have you used to grow your revenue.