The fewer sales you make, the less revenue coming into your business. It’s simple maths!
You need to take action, because without customers, and without the opportunity to make a profit, your business is going to suffer. It’s a no-brainer, especially when you consider the business failure rates that are symptomatic of companies failing to generate a regular income.
And so, what about your business? If you are relating to what we have said thus far, and you aren’t making as many sales as you have hoped for, then you need to consider some of the possible reasons why. We don’t have all of the answers, but we do have some suggestions that could indicate problem factors within your business. Take a look below, and if anything does relate to you, take the necessary next steps to put things right.
#1: You’re spending too much time marketing and not enough time selling
Don’t get us wrong; as we will indicate in a moment, you do need to market your business. After all, if people don’t hear about your business, then they are not going to buy from you. But you need to know that marketing isn’t the same as selling. We are talking about taking actionable steps to persuade people to buy from you, instead of simply sending them a promotional email or a flyer about your product or service.
If you haven’t already, we recommend you hire people onto your team with experience in sales. It will be their goal to find and follow through with leads, perhaps with the assistance of sales management software to make their lives easier. Check this source for one example. So, while you might not have enough time in the day to focus on selling yourself, your sales team will be able to focus on this one aspect. They will make the cold calls to potential leads. They will stay in touch with your current customers. And after communicating with potential and existing customers, your team will let you know of any outstanding reasons as to why they might not be buying from you.
So, begin the hiring process if you don’t already have sales staff, using this advice to find the right people for your team. And then give them an incentive to meet your sales targets, such as giving them a boost to their pay packet or the opportunity to have a longer weekend, as they should then work harder on your behalf to bring in those valuable customers and sales.
#2: You haven’t defined your ideal customer
If you don’t define your ideal customer, you are going to waste a lot of time and money in your marketing and selling efforts, as you will be trying to appeal to the wrong people. Therefore, think about your product or service, and try to gain an understanding of who your ideal customer might be.
Build an idea of the ideal customer in your head using some of these questions.
How old are they?
Where do they live?
Who will benefit most from what you are offering?
Are they male or female?
When you have an idea of who to market and sell to, you can then focus your efforts on trying to reach them. You can change the way you word your ads according to the age of the people you are trying to appeal to. You can advertise on those websites and publications that your demographics are likely to use. And when you’re in the process of trying to sell to them, you can stress the need as to why they should ‘buy now’ when you know how your product or service could benefit them.
#3: You are too reliant on digital marketing
Okay, so we appreciate that digital marketing is the way forward. If you aren’t using social media, your website, and other facets of digital marketing to reach new customers, then you need to rethink your strategy. It’s important to follow the latest trends to ensure you don’t fall behind your competitors. However, don’t give up on traditional marketing methods just yet. It is still important to reach your customers offline, not only because some methods are still viable today, but also because some people, particularly those of the older generation, are less reliant on smartphones, computers and the like as the younger people living in our society today.
And here’s another thing; there is one facet of traditional marketing that is key to making sales, and that is face-to-face communication. When you’re in any public place, be that in the street, at a local café, or at a community meeting, you have the opportunity to talk about your business to others. Going beyond simply handing out your business card to them or giving them a flyer, you can also make a concerted push to promote the benefits of your product or service to them. You can also listen to their needs and answer any questions they might have, and this is something that isn’t so easily achieved when you post your marketing tweets or Facebook messages.
#4: Your business rivals are better than you
Not only will you lose any potential customers if your rivals are doing something better than you, but you might also lose existing customers, who, as fickle as they are, might be swayed over to the ‘dark side’ if they can see any advantages to them.
Therefore, do the sensible thing and keep an eye on your competitors. Visit their websites, cozy up to them at trade shows and other business meetings, survey your past customers, and use these sneaky tactics to find out what they are doing. When you have a handle on what they are up to, then do the sensible thing and make improvements to your business. So, you might lower the price of your product to undercut your rivals. You might make changes to your product to better meet the needs of the consumer. You might offer benefits that your rivals aren’t, such as free shipping of your products, or by giving a better return policy. And considering the next point in this article, you might also improve your website, especially if your rival’s website is flashier and more functional than your own.
#5: Your website is letting your business down
So, how does your website compare with that of your business rivals? To find out, you need to investigate further, so do a Google search and look at the sites of your competitors. Are their sites more appealing than your own? Do they load up faster? Are they less prone to errors and crashes? If so, make the necessary changes with or without the aid of a web designer. Consider too where they land on Google’s search pages. If they are on page one and your website is far below where they are ranking, then you need to improve your website’s SEO to rank higher.
Think about what might make your potential customers steer away from your website too. If you have too many popups, broken links, and other annoying turnoffs, then they might understandably spend more time visiting the websites of your competitors.
Then look for ways to encourage potential customers to spend longer on your site. So, you might include a blog to give them something that is not only interesting to read, but which will also encourage them to buy from you if you promote your products from within. You might include more call-to-actions to direct your site visitors to the relevant pages on your website. And you might also include video tutorials, surveys and quizzes, customer review pages, chatbots and more to encourage them to stick around for longer.
So, give your website a thorough audit and fix anything that might be wrong. Investigate other websites and ensure your site meets modern trends. Ask for feedback from site visitors and other outside parties as to their opinion of your website. And seek professional support if you need help in making the relevant changes.
You see, the truth is this. If your website is below par, then potential customers might assume that is reflective of your business, so do what is needed today.
We haven’t covered every possible reason as to why your business isn’t generating more sales, but we have given you some common examples. As the business owner, the onus is on you to find out more, so continue your research online, speak to your customers and employees and ask for their thoughts and opinions, and spend time reflecting on your business and on where you might be going wrong.
By taking a few steps in the right direction, your business might turn around. You might gain more customers, and you might increase your profit margin. Let us know what you think, and if you have any further ideas that you think our readers will find helpful, please add your comments in the box below.
Thanks for reading.