The kind of sales strategy you use can make or break your business. Having the right product is no longer enough as you need to find people to purchase those products.
You need to incorporate everything from identifying the most profitable niche market and rocking your cold email outreach, to create the best sales strategies.
According to research, businesses stand to lose as much as 10% annual sales opportunities due to lack of planning. This means that when you don’t plan your sales strategies accordingly, you’ll miss out on opportunities that could potentially rake in thousands of dollars for your business, and lasting customers.
In this post, we’ll share some sales strategy tips that are proven to be effective. Most successful entrepreneurs and startups use some or all of the sales strategies for their businesses, and you should too to grow your brand.
Start With Small Niche Markets
Your cold outreach is an imperative part of the sales process and to increase it drastically, you need to target specific niche markets. You need to find users that share common pain points that you can address. Instead of reaching out to everyone, you’ll be able to craft a unique sales pitch for a smaller group much quicker.
You may be worried that concentrating on a small group will limit your options, but if you do it well, you have long term benefits. If you don’t, you’ll consider it a learning curve.
You could start by concentrating on locals before you expand your outreach and by working with a homogenous group, you’ll get loyal customers before you start expanding. Also, you can consider choosing a market that interests you first, then go from there.
Build a Powerful Value Proposition
Most users may not recognize or have the ability to articulate the challenges they face daily. This means that you may be selling a really valuable product, but users may not recognize the value you offer. For this reason, you need a persuasive and powerful message to get across these users.
Getting your products out there and hoping that customers choose you over your competitors won’t work. What you need to do is to create a buying vision to define the challenges that align with your products. A value proposition should create contrast and uncover unconsidered needs for your target market.
Create an Urgency to Change
If you’re like most businesses, you probably tell your customers why they should choose you. When you do this, you miss a very critical step because a lot of customers are lost to ‘no decisions’ and not to competitors. Most people fear change as they don’t like embracing the unknown.
To change this and have them leave their current situation, the best course of action is to tell a compelling story that shows them why they should change. The best sales strategies require you to understand your competition and help your potential customers make the right decisions.
Tell Memorable and Compelling Stories
Most businesses focus on giving all the facts about their products to their prospects. While there’s nothing wrong with this, even the most valuable facts will not resonate with customers that you don’t connect with.
Telling a compelling and memorable story using analogies and metaphors will bring your message alive in a way that makes it easier to connect with customers on an emotional level. When you share stories in your sales conversations, your relationships with customers will get deeper and overall more rewarding.
Use the Deciding Journey
Instead of using the sales process, you should be using the deciding journey. Usually, the sales process involves prospecting, qualifying, discovering needs, cold calling for leads, negotiating, and closing. However, marketing in today’s world is not as easy as following a predictable progression.
What you can use is the customer deciding journey. This is a series of questions that customers are asking when looking to address their problems. Be problem-centric and address all the specific needs of your customers.
Avoid Relying on Buyer Personas
Buyer persona and customer profiles may seem appealing. They involve collecting common attributes, behaviors, and attitudes of the target audience to frame the right messages. However, buyer personas could lead you astray if you use them as superficial profiling.
Buyers are usually motivated by outside influences and not necessarily internal characteristics. The drive behind their behavior has more to do with their situation and not their disposition. The best sales strategies don’t focus on inconsequential attributes but on the buyer’s situation.
Lead With Insights
Instead of asking buyer discovery questions, it’s much easier to tell customers what they should want. Most sales reps ask buyers discovery questions to diagnose their needs then present them with solutions that fit those criteria. There are several reasons why this approach may not always work.
You see, customers want insight from you so they can make informed decisions. Show them what will improve their situation and then offer them the solution instead of asking them what they want.
What this means is that instead of finding statistics and data on the internet, you need to wrap up your facts into stories that the customers will resonate with. Provide your customers with context and you’ll get more and more customers.
Align Sales and Marketing
Most often than not, sales and marketing go hand in hand because the marketing team creates sales messaging and generates leads for the sales team. In turn, sales teams use that information to transform the leads they receive to revenue.
However, without alignment, any gaps will sabotage the efforts of both teams. Most of the time you’ll find that each team is playing the blame game and claiming the other did not meet their end goal. This usually leads to an “us-versus-them” kind of attitude, which is not good for your sales strategy.
Marketing is usually the story builder, and sales the storyteller, so they have to be in tandem with each other. Ultimately, the two teams must align and work together to persuade prospective customers that they should choose your business.
Use the Best Sales strategies for Customer Expansion
Most businesses use a huge budget trying to acquire customers and generate demands, which is okay. Most of the revenue, however, comes from existing customers through upsells and renewals, and very few businesses place much importance on customer retention. Existing customers are just as important, but they require a different sales strategy compared to prospects.
They are underrated, but they happen to be very powerful growth engines that you should never overlook. This is a potential revenue stream that you should tap to grow your business. Customer retention is about reinforcing your position instead of challenging their status quo as you would with customer acquisition.
Avoid the Commodity Trap
The thing is most sales reps base their marketing messaging on what potential customers say they need. The problem with this is that they end up falling in the commodity trap along with their competitors. The competitors are doing the exact same thing and as a result, they sound like everyone else, making the customers indecisive about who to go with.
In this case, customers don’t get the urgency to change. What you should do instead is consider even the unidentified needs and solve problems customers aren’t thinking about. This way, you present unique solutions and compel customers to choose you.
Bonus Point: Ongoing Situational Training
To help your business sales strategies, you need to respond to market and demand shifts and to fix needs as they arise. To be completely effective and efficient, you need to have situational training in the business so you can always rise to new flexibility, relevance, and customization.
Having an on-demand training program in your company will enable you to solve current problems for your target market at a moment’s notice. Training the sales team for agility will equip them with skills and the messaging strategies they need to stay relevant and relative to conversations.
Using the Best Sales Strategies for Business Growth
These are some of the best sales strategies you can use in 2020 and beyond. Create a strategy that communicates value to your customers in your sales conversations. As you can see, there is so much you can do to optimize your sales strategies and get the best results.
Your sales team is one of the most essential aspects of your business and if you can’t figure out a way to sell your products or services, growing your business will become a real challenge. Use the sales strategy tips above for all your sales needs and improve your business.
Beyond that, there is so much more to growing your business and we make sure you have all the latest information you need. If you need more sales and marketing insights, please head over to our blog section. You’ll get a lot more than just marketing as we have an all-round blog with multiple categories so check us out today.