The ‘Sales Scenario’ is no more what it was!
Ever been under a microscope. This exactly describes today’s sales scenario. Today, the customer RULES. At least 99% of the time but for some niche product. Every product or service is dissected or broken apart through research, comparison, feedback, testimonials, product performance, etc; and all these details one can get from digital platforms. No purchase is a fluke buy. Very rarely, unless there is an emotional angle to it or it’s a niche product. Consumers’ today know their worth in making a product or service, successful. So they play hard to get.
Why not? With so many options, why not settle for the best in choices, colors, brands, quality. In truth, most of the sale is done before you can even contact them for a meeting. The consumer already has 3-4 options under his sleeve and is only feeling the waters. The digital space gives them as many options as they want, online and offline.
Technology has heavily influenced customer demand and choice. They compare prices, testimonials, quality and service. In order to keep up with these behavioral shifts, a business should be well-equipped with the right market, product and consumer knowledge topped with the correct EQ (Emotional Quotient). Only then can businesses connect their products and services with the right customers on their preferred platforms. Also the need of the hour is transparency. Tell it like it is. The only way to survive now is by creating a robust offering of products, services, pricing and after sales support that any consumer cannot resist accepting.
Given the current scenario, how do we leverage our Sales Strategy?
Without a good volume of sales, no business can hold ground, let alone prosper. For this to happen, a very good understanding of the market, products and buyer behavior along with a competitive pricing strategy will give a boost to sales. But the most important aspect in sales is the sales force. Without a committed and self-motivated sales force, there is no guarantee that all the sales will turn out to be successful. This creates a strain on the profitability and growth of the business, and many times, it becomes very difficult to sustain the business.
Faster Sales, Faster Profits
Let's face it. Scaling your business is hard. It not only takes considerable effort, time and to a large extent money. Without having a definite marketing strategy, it will be very difficult to drive the sales you want. Along with marketing initiatives, you also would have to deal with understanding taxes and corporate compliance. It also involves interacting with customers on a daily basis, studying the market, studying the competition, and at the end of the day, all these takes its toll on you. But what will work after this initial struggle is the grip you will have on the complete process to make it work for you.
How can we attract greater sales? Some tried and tested recipes that work.
PEOPLE Sales are contingent upon the attitude of the sales force - not the attitude of the prospect — W. Clement Stone Invest in creating, deploying and sustaining a sales force whose vision synergizes with the vision of the organization.
PROCESS If you are not taking care of your customer, someone else will — Bob Hooey Deploy stringent online-offline processes that will make the sales process seamless and user friendly for your customer. A streamlined process will enable user friendly experience for the customer who will then talk well about the product and sales service thus benefiting the company with more word-of-mouth customers.
STRATEGY It’s not about having the right opportunities. It’s about handling the opportunities right — Mark Hunter Ask yourself the question - What are the best sales organizations doing differently? Some of the answers would be: - Measure your sales’ team performance using the Social Selling Index (SSI) - Position you and your reps as industry thought leaders - Leverage relevant content to increase engagement and build trust
TECHNOLOGY What technology does is create new opportunities to do a job that customers want done — Tim O’Reilly Using the right kind of technology applications to boost sales is a sure fire way to create more sales and enable satisfactory end user experience. Mobile technology gives sales people instant access to product specs and other tools that increase the effectiveness of their sales pitches, documentation, closing process and post sales experience, resulting in higher closing rates and gain a wider reach.
ATTITUDE Keep yourself Positive, Cheerful and Goal Oriented. Sales Success is 80 percent Attitude and only 20 percent aptitude — Brian Tracy Great Sales is all about attitude. Achieving a positive, go-getter attitude will be a plus to help boost sales. Focus on being solution oriented, creating a desire to excel. Educate yourself on the pros and cons of your trade and be aligned to your goals, process and outcomes – mind, body and soul. Then you will be unstoppable.
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