7 business strategies to improve your sales potential

​If one of your goals for this year is to increase sales, know that there are several ways you can achieve this without sacrificing your business integrity. Take a look below to find out more.

Photo by energepic.com

understand your customers

​One of your most important assets is your customers. Invest in customer surveys to find out their motivations and desired products. Find out if there are ways to increase conversion rates on your website and social media accounts. Draft a brand rep search campaign to reach new customers.

use a sales funnel

Sales funnels allow you, as a business, the chance to map their customer's journey. Understanding the steps that a consumer is going to take when they shop for a certain product will help your sales managers, and you as a company leader, to create a process that leads to a conversion. It also lets you segment customers based on their past purchases and their level of interest, so you can customize future sales pitches.

interact with customers

Just because you have social media accounts, doesn't mean you're using them to their fullest potential. Most customers prefer to do research online, and may have questions that could be answered quickly via DM. Instead, they're stuck in the FAQ on your website and trying to submit contact forms. Customize the options your customers have for reaching out to the company based on their market segment. Look into a live chat option that helps answer questions using AI and then assign them to a sales rep if their question isn't answered.

offer a variety of payment options

It can be challenging offering payment methods both online and in person. You may have been to in-person locations with single sellers only using payment apps and felt less secure than if they had a wireless card machine. Think about your customer market segment (and do a survey if necessary) to find out their preferences for in-person payment options as well as online. Other options include offering payment plans through third-party companies for larger purchases. If you're interested in looking into wireless credit card machines, you can find out more here.

create a referral program

You can encourage customer loyalty by offering sales codes upon a repeat purchase and can increase your customer audience by offering referral incentives if a friend signs up using their loyalty code. You can also consider a brand rep program where your brand reps (existing loyal customers) do heavy lifting on social media for you with the benefit of reaching their entire audience.

bundle your products

Look at your sales to see if customers tend to buy several of your products together. Additionally, think about what other products may complement items you are already selling - even if you need to bring those in-house. By offering bundles you can offer an incentive for them to purchase more from you, at a relatively low discount for the convenience.​ Many online sales platforms also offer the ability for you to upsell prior to a customer checking out. This is a helpful resource, but don't annoy your customer with excessive windows to click through just to check out. This may reduce your conversion rate.

audit your pricing structure

Revisit your pricing structure at least once a year. Price increases should reflect inflation at the least, and you should also do market research to determine what your competitors are charging. There are ways to make your products more enticing than simply offering them at a lower price, particularly because some customers may actually be suspicious of items offered at a lower price without assurances that they are quality products. ​