Increasing sales is not only just an important marketing objective, but also an essential means of maintaining business viability, and potentially expanding your growth. There are many efficient and sometimes inexpensive ways of using marketing to drive your sales. In this article, we’ll be outlining some of those strategies, to help you grow your business .
Know Your Customers
Understanding your customers, will help you gain key insight on how your marketing communication can be improved or altered on your products or services. CRM tools such as HubSpot, Marketo, and Salesforce help you get direct and valuable feedback from your customers. Make sure to check the feedback that your customers are giving you on a regular basis.
Feedback from your customers in such instances, can be used to update your products by fixing issues, making improvements or adding features which might be beneficial to users. This feedback can also be used to create new products or services aimed at targeting a new set of potential customers or fill a void in the market, thereby helping you capitalise on a new opportunity.
You can also use any positive feedback from your customers to leverage your brand identity. This allows for increased sales to existing customers who trust the brand. This can also help cement your reputation amongst potential customers.
Diversify Your Market
Another effective means of growing your sales, is by diversifying your market. This means finding new ways of attracting customers across different market segments, by introducing new products or services. For eg: a company with a high-end product might also look at an opportunity to launch a ‘low-end’ or ‘mid-range’ product to help attract new customers from those segments. Study what your competitors are doing across these segments, and use that research data to help you design a new product or service for your business. While the profit margins might differ across different segments, it allows your business to widen its network, and helps substantially by increasing sales volumes.
This in turn also helps build brand awareness amongst different segments, thereby adding more value to your brand.
Marketing Your Promotions
Another method to successfully drive sales for your business is through varied sales promotions. Market your different sales promotions, like coupons, discounts, rebates or give-aways to attract a segment of price-driven and budget conscious customers. Marketing is a great tool to let potential customers know about the various offers and promotions being offered by your business.
These promotions will not only help new customers get acquainted with the brand, but will also help your business, by giving it a chance to offer high quality products or services and potentially convert them. This will help your business in generating a higher customer lifetime value. This is a great method for both new as well as existing companies to not only build brand awareness but also generate quick profits.
Create and Integrated Marketing Mix
A culmination of traditional advertising through broadcast, print and digital media should help you build and effective Integrated Marketing Communication Mix for your brand. The increase in the use of the internet and other social media platforms over the last decade will help small businesses in integrating a variety of promotional tools into their messaging through a relatively inexpensive method.
Digital Marketing is one of the most inexpensive and quantifiable marketing mediums available in present times. Social media campaigns, SMS broadcasting, emailers and banner ads are some of the most common ways of marketing or advertising your brand on a digital platform. The reach and engagement of these platforms is also large, and can be measured easily. This helps your understand whether the messaging and communication you are using for your brand is effective or not.
A healthy mix of the above three should help you in generating sales, and also any long-term goals that you have set for the organisation.
To know more about how you can work to keep your business sustainable and healthy, stay tuned for our exclusive Business Health Check-up Guide, which will you the opportunity as a business owner to identify any improvements or opportunities that you must make to keep your business healthy. It will also help you understand how your business is performing in comparison to the industry.
For any other queries regarding your business, feel free to get in touch with us my emailing us at firstname.lastname@example.org or call us on +64-9-972-2236
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