Running a business can feel like you are being pulled in a million different directions. You have to take care of taxes, payroll and scheduling. However, at the end of the day, whether you're an established business or brand new, it's sales that keep the doors open. If you're looking for quick and easy ways to boost your sales, read on.
While social media may be more valuable to business to consumer retailers, even wholesale eCommerce businesses can benefit from social media. Nearly everyone has social media and many follow brands within their business sphere. Social media can help you create a story around your brand. Let customers get to know your employees. Show your products in action. Collaborate with influencers to draw in potential new customers. Beyond your own accounts, try paid advertising on Facebook, Instagram and other platforms. You can laser target your ads towards your perfect market segment, a much more effective use of your advertising dollars than blasting a wide audience and hoping your customers are in there.
Once your customer has made her first purchase, it's much less costly to keep her returning than to find another new customer. Existing customers buy more often and spend more on each sale. Increasing your customer retention by just 5% can increase your revenue up to 95%. Up to 80% of all your future income will come from the top 20% of your customers. You can see from these statistics that engendering customer loyalty is the least expensive, most effective way to boost sales. So how do you do it? Obviously the first rule of creating customer loyalty is providing a great product with great customer service. You already believe in your product, so focus on how you can create customer service that goes beyond the average into the realm of extraordinary. Empower your team members to make customer service decisions without the "I'll have to talk to my manager" delays. Take responsibility when something goes wrong, even if it isn't your fault. If your shipping is delayed, the customer doesn't want to hear that it isn't your problem. To him, it is part of the service. Wherever possible, make things right. Not only will you create loyal customers, you can actually charge more when you provide exceptional service. Empowering your team also means increased employee satisfaction which drives better employees and higher employee retention. Being customer-centric creates a positive cycle that affects every area of your business.
There are several ways to highlight the value of your products. First, create a system to get feedback from existing customers. Within a few days of a sale you should be emailing asking for a review. Make it a simple process to leave a review on your website, a process that takes no more than a couple of minutes. You may even want to incentivize customer reviews. Online reviews have taken the place of personal recommendations. No matter what you say about your company, it has more value coming from a third party. Besides reviews on your website, use videos to show your product at work. Through either Facebook videos, Instagram TV or YouTube, you can show all the features of your products. Show it being used in different ways that can emphasize its versatility. Having this type of video can drive sales, with some claiming it increased conversion by 144%. It gives you a chance to explain features that may otherwise appear to be a defect. For example, a video doorbell company received many complaints about the delay in the video, until it made a video explaining the security reasons behind the delay. Suddenly a pain point was removed and a thoughtful feature added value. Consider using social media listening to track mentions of your own products and those of your competitors. Listening allows you to know what's being said about your product, perhaps leading to changes and improvements down the road. On the other hand, when someone complains about a competitor's offerings it is time to jump in explaining why your product will better fit her needs and fix her pain point. Finally, make sure your employees are aware of features and value. It does no good to know all about the product when you aren't the one making the sale. Work with your team regularly to keep them updated on your latest products. If possible, your team should be provided with your product or products so they can speak firsthand about the value it adds to their lives.
These three easy steps can be simplified further by using small business solutions that integrate with social media. With marketing and a strong, trustworthy sales team you'll create a brand story and employees who are excited about your products and your customers.
Publish Date: June 27, 2021 1:28 PM