The best way to succeed in business is going beyond ordinary, exploring new horizons, taking constant risks and having a strong foundation. There is a time for planning and a time for achieving. 2018 can be the year when you can rectify all your previous mistakes take your business to a new height. Small scale industries tend to profit less but any amount of loss turns out to be a big one. How to avoid such loses in the next economic year? There are some basic tips for you to follow and not fall in the pit of loses in the coming year, so that you can wrap up happy and your effort is worth.
- Set Sales Goal:
When you don’t have a set goal, it’s hard to read between the lines, i.e. setting an annual and monthly sales goal is an important aspect. Sit with your whole team in the very beginning of the year and plan a layout, including sales target and how to achieve it. If you have a concrete plan and a set number, you will be determined to reach that.
- Enforce a new sales strategy:
It’s very important for small businesses to have a good sales strategy, if you have had loses or your business hasn’t been very profitable this year, which means there are loopholes in your business plan. Decide what you need to increase your sales, like a sales executive, an online merchandise store etc. See this article by Uplead for more examples of successful sales strategies.
- Go Digital:
We’re way ahead of the 80’s and no one opens their doors for salesmen anymore. Selling your products online is a cheaper and viable option. All you need is a well-designed website, proper promotion and a little investment in marketing your site to make it all work. You can ask for review templates after every delivery or even if a person saw your site. You can send them emails about the sales and give them recommendations based on their search history.
- Re-evaluate you social media strategy:
With the fast growing changes in the technical world, make sure that you are up to date. Evaluate your social media strategy in every 3 months and make sure that the digital marketing firm you hired is able to fetch results. You can advertise your site through Google AdSense or Facebook and Instagram. Get reviews for your site and make sure that they are available for the prospective customers to read. An online reputation management system can actually help you get the credibility you need through their reviews.
- Go for reverse sales Funnel:
Instead of giving out expensive products later, start with them and then go on with low priced products. This can actually enhance your sales. You might say that your customers can’t afford certain products, don’t target the 98% who can’t, target the 2% who can for such products. The reverse sales funnel is a very strategic idea and needs proper execution if you want to fetch results.
Founder Dinis Guarda
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