Are you looking to make a boost in your sales?
Have you been having a problem selling your product?
Do you want to increase your sales conversion rate?
Today I’m going to be sharing with you 7 marketing skills to grow your sales by 200%. Let’s dive right in…
1. Selecting your target market
Knowing your target audience is essential to having a good marketing performance.
Knowing your audience allows you to analyze the behavior of your consumers in terms of their demand, purchasing power, spending habit.
Also, selecting a target market allows you to know how customers react to other factors like price, quality, and trends in some cases.
Selecting a market can help you determine the kind or form of product you want to sell in relation to who will buy the product.
For example, if you sell books, and your target audience is law students, what is a mathematics textbook doing in your shelf?
2. Reaching prospects with advertising media
Every business owner must decide on how much they are willing to spend on advertising;
Advertising promotes the sales of the product and the corporate image of the business itself.
Advertising has the advantage of boosting the sale performance of a business.
It also has the advantage of promoting the long-term confidence and goodwill of the business, regardless of the product being sold.
Advertising can be done by television, radio, billboards, flyers, newspapers and the internet.
But special attention should be paid to the internet, as it has higher chances of getting people’s attention to a product.
3. Pay attention to pricing
The price of a product goes a long way to determine the extent of the profit a business will make.
A business should understand the quality of its product, the sensitivity of its product towards the price.
Also, the competition a business faces in order to determine the appropriate price to charge.
Lowering price can be used as a strategy to attract customers. While that might sound like a good strategy in some cases, a business must be careful in doing so.
A very low-priced product may lead customers to question the quality of the product.
Therefore, a business must decide a price that is neither relatively high nor relatively low.
4. Enhance your product quality
The quality of a product is another factor that can affect the sales of a product and even the competitiveness of the product.
Good product quality has the advantage of attracting more customers to buy a product.
It also promotes the trust that customers give to the product.
A product with a relatively bad quality can damage the marketing image of a business and drive away existing and potential customers.
Therefore, a business should work towards enhancing the quality of its product by embarking on product development.
This has the effect of promoting the product image of the company in the eyes of the customers.
A company with good product quality gets more referrals and ratings from customers.
5. Increasing customer lifetime value (CLV)
A business should not just be concerned about its short-term customer position.
It should also work to build a long-term relationship with its customers.
The long-term relationship a business has with its customers goes a long way to determine its future profitability.
A business can build and enhance its CLV by embarking on product promotion through giveaways.
6. Make your customers your marketers
This is where your customers refer their friends and family to purchase your products.
This works better with products that are quite consumer specific and products with tested quality.
A business should establish a steady and constant communication with its customers.
It should also show appreciation to its customers for every contribution they make, no matter how little.
A company should always ask for feedback and reviews, and accordingly, with respect to the feedback, it receives.
7. Reputation management and sustainability
Yes, that’s right!
Building a reputation is one thing, sustaining it is another.
You must protect your reputation and keep your customers at all cost.
You can allocate money to research and development (R&D).
Amazon, one of the world’s top 3 most valuable companies spent 22.6 billion dollars in 2017 on R&D.
If Amazon can spend that much, why shouldn’t you?
R&D ensures a business stays on top of its game and sustain its already built reputation.
To boost sales, it is important to;
- Select the target market
- Pay attention to pricing
- Enhance product quality
- Improve CLV
- Customers are marketers
- Manage your reputation
Now I’d like to hear from you
Which strategy from today’s post are you going to try first?
Leave a comment.
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