Sales is the life of every business. Without adequate sales, no business will survive. Sales is not automatic. To make sales, action must be taken. Your business strategy must include finding ways to get people who will gladly give you their money consistently, in exchange for the value you are offering. There is a threshold of sales that must be made, so it is not sufficient that some sales are ongoing, it must be according to the threshold, so the business can be said to make profits.
There are different reasons why many businesses do not meet this threshold and might eventually fold up. Some of these reasons include:
No hungry market
There is no hungry market for the goods or services offered. No one will buy a thing they do not desire. You cannot create a product and try to get people to buy it. You have to research what people require, and through your research, come up with a specific and strategic solution.
Sometimes, there is a similar business providing the same value as you do. You will need to find out if there are lapses on which you can leverage. Are they excruciatingly expensive and unaffordable? Do they have bad customer service? Is the demand for the value way above the supply? The answers to these questions will help you determine if there is a growing demand or a hungry market for your value.
No target audience
Closely related to having a hungry market for your business is knowing who exactly to target. Not everyone is likely to be your customer even if everyone eats, and you are a food vendor. Different things attract a prospect to a business. You must identify who you are seeking to attract as customers, and let this affect your business choices in how you speak, accommodate and tailor-make your solutions.
Lack of customer prioritization
Customer-first is beyond slang. It is a culture. There must be an engrailment in your mind, that you are in business to serve people. This means that several factors will come into play as you desire to make sales. You must consider the buying potential of your audience, location, limitations, language, accessibility, etc. While you might be passionate about meeting your goals and targets, your customer just wants to feel wanted, loved, and listened to. Always learn to switch to the desired mood that pleases your customer when the need arises.
People know when you are not paying attention to their needs, or are just after yours. Your customers always know when a salesperson is just after closing a sale, and this is a big turn-off in sales. If you appear too eager to close a deal, your prospect gets the vibe that no one else wants your products/services, hence, the hurry. They start to question their buying decision and might end up not making the purchase. You must learn to present a sense of urgency to your prospect without sounding desperate. Always make your customers the center of attention, so they feel in control of their buying decision. The moment they feel threatened, as if they are not in control of making the buying decision, they will tend to back off and not follow through with the process.
Consistency is very important in building a business as it is the foundation of trust between the seller and the buyer. The more you show up for your clients, the more they start to feel at ease with you. Consistency requires time and commitment. You must see your business as one with great prospects that are worth investing in. You must start to realize that when you do not show up, you are denying people the ability to make their lives easier and better. Your business is fundamental to human growth and it is important you show up to serve them.
Sometimes, the key ingredient to increasing sales is to put yourself out there and get more customers. Your customers will not come to you. You will need to be fully convinced of your value proposition and seize every opportunity to propagate it.
Also, endeavor to listen to your customer’s needs and keep seeking ways to improve your servicesFeatured Image Source: Business 2 Community
Got a suggestion? Contact us: email@example.com
You might also like:
- How to Increase Your Business Revenues with Training Programs
- SME Spotlight: Evince Systems
- 2023 Savvy Global Fellowship for Aspiring and Early-Stage Entrepreneurs
- Key Factors to Launching Your Product/Service and Advertising Campaigns