They can tap into new markets while keeping up with technological advances that improve their products/services to ensure consumer loyalty. As more brands embrace this space, competition is becoming tougher, calling for innovative ways to attract customers and keep the revenues coming.
Data-Driven Approach to Selling
Data and analytics technology have facilitated the evolution of sales processes, from conventional gut-based actions to data-driven methods. The latter makes for measured outcomes and better customer acquisitions.
With this approach, all interactions between your team and potential/existing customers are collected and analyzed for un-looked-for insights. These insights help teams better anticipate consumer needs, personalize sales messages, and create repeatable success tactics.
To leverage this strategy, you’ll need to:
- Get all departments on board. Get both customer-facing and backend teams to fully understand the value of this approach and embrace the data culture implementation. You’ll need to define your main goals and the datasets needed across the board to attain these goals.
- Assign a team to gather, record, present, and store data. It will help minimize data collection errors resulting from miscommunications between departments. While you’re at it, ensure this team has the knowledge and tools to complete their task.
- Review and scale the data collected. Review conversations, meetings conducted, follow-ups, leads converted, and all other sales interactions to determine sales routines and ideal customers. These insights allow you to predict future interaction outcomes based on previous patterns.
Showcase Your Competitive Advantage
With this strategy, you come up with policies and procedures to help you gain competitive advantage over your competitors. The procedures you put in place strengthen the value of your offerings to gain sustainable revenue.
Here are several competitive strategy types you can consider:
- Cost leadership. Particularly useful for sectors with high price elasticity, this strategy keeps pricing lower than the competition to encourage purchases.
- Product differentiation. Here, you consider your product/service’s design, functionality, and other features to differentiate your offerings from the competition. You’ll be appealing to greater audiences through your unique features while keeping the competition from grabbing a larger market share.
- Commitment to customer strategy. A customer-centric approach makes for satisfied customers and happy customers are likely to make repeat purchases. Even when the pricing is higher than that of the competition.
According to a Wyzowl survey, 81 percent of marketers attributed video to the increase they saw in sales.
Video has a significant impact on digital marketing. It allows you to create shareable assets that your audiences can pass on to others while simultaneously establishing brand trust among viewers.
- Aligning video content to buyer needs. Peruse customer reviews to discern obscure needs that your solutions can address. You can also use existing data and feedback to gauge and construct videos that tackle what buyers want to know at pivotal moments on their path to purchase.
- Cultivating deeper relationships with prospective clients through educational video content. From recommendation to product knowledge videos, craft videos that resonate with potential buyers so you can build emotional connections with them.
- Capitaizing on customer videos. They humanize your brand, case studies, and other marketing collateral because your actual customers are vouching for you. It raises audience confidence because they can see that you’ve been successfully tested by peers.
Assuming the right attitude and proper frame of mind when tackling cold calls can have a tremendous impact on the outcome.
Why? Because cold calling is psychological.
Fear and anxiety are easily conveyed over the phone, and you will sound it. Your listener will have a hard time trusting you if you sound unsure. Worse, they might decide to tear into you and your pitch to embarrass you.
So, if you want to inspire enthusiasm in your listener you’ll need to sound it. If you want to inspire confidence you’ll need to feel like it.
Granted, you won’t feel enthusiastic and confident all the time, so you’ll need to master how to elicit these image-boosting emotions on cue.
- It starts in your mind. See yourself as an energized and unstoppable person capable of handling the task ahead. Sit upright or walk around but by all means, don’t slouch in your chair as it may create lethargy.
- Don’t think of the task as cold calling because it may create the “nagging salesperson” notion in your mind. You’re a helpful consultant interested in solving customer problems by sharing the best possible deal.
- Go in prepared. Dig up information about your target that you can use to personalize the script. A customized script says you care enough to see them as an entity with specific needs and not another random customer to bag.
Sales promos can provide quick revenues, but there are two things you’ll want to consider when running them.
First, your communication plan aka the campaigns that tout the offer and how you follow up customers afterward to build the relationship.
Second, the value of what you’re offering. Your promotional deals are only as good as their relevance. If people don’t consider your promotions useful to their present needs, the uptake might not be so big.
Here are promotional ideas worth trying:
- Free samples or trials. For a finite time, you can offer free stuff to entice buyers who haven’t made up their minds. You can then make follow-ups to convince them to sign-up for the paid deal.
- Risk-free promos. Here, you offer money-back guarantees should your solutions fail to live up to your customer’s objectives. Some brands put a 28-day time frame while others keep it going for up to 90 days.
- Purchase for donation promos. For every purchase made, you donate a certain percentage to charity. This promo has emotional appeal since buyers feel like they are acting for the greater good by purchasing from you.
#FeaturedBy: Safari Offers