26 March 2018
The level of sales a business makes within a given duration depends on two key aspects; demand and supply.
The demand, on the other hand, depends on the customer base while supply depends on the available stock.
For a business to make more sales, it needs to put in place adequate measures that will lure more customers and at the same time ensure that there is enough stock to adequately meet the prevailing demand.
Explore the online market
If you want to make more sales, then you have to make use of all the available opportunities (psst… social media!) that can boost your customer base.
Fortunately, the internet provides one of the best platforms which if properly utilised, can result in a business making a lot of sales at ago.
One of the key advantages of the online market is that it covers a bigger geographical scope which means that more people can easily access a business’ goods and services.
However, for an effective online experience, there is a few requirement that your business must meet.
One, it must have a user-friendly for the target audience to easily navigate around. (I cannot stress this enough. I feel like I’m talking about target audience all the time.)
Secondly, the website needs to be able to attract huge web traffic, this means that you may need to invest in effective digital marketing techniques.
Last but not least, you need to creative, innovative and up-to-date with the current trends both in marketing and business operations.
Creating Customer Loyalty
To a business especially a startup, customer loyalty means everything to them. You don’t want to only have as many customers, buyers, your goods and services, but you also want to retain as many of them as possible for the good days ahead.
There are a number of factors that may come a long way in creating customer loyalty.
To start with, you need to make sure that you only sell quality product or services. This is especially crucial in the online market where the customer may not have the opportunity to physically examine the product before buying it; they only bank on the little confidence they have in the company.
The objective of any business is, therefore, to make sure that the product reaches to the customer in a good start and expected quality.
When a customer is happy and contented, they will not need to consider another company in the future, in fact, they are likely to recommend more customers to your business.
Secondly, make sure that your goods and services are easily affordable.
Last but not least, invest more in forming a business brand.
Outshine your competitors
Another great determinant of a business sales is the type of customer a business is up against. For a startup, penetrating the market is always an uphill task especially if you have a competitor that has dominated the market.
If you want to have the last laugh, then you need to study your opponents, identify their weakness and use them to your advantage.
Besides, you need to be always a step ahead of your main competitors and this will only be possible if you are more creative, innovative and vigilant.
If you feel that your business is stagnant at any point, it is fully recommended you do something about it. And if you need help to branding your business to get more sales, feel free to contact us.
When you hit rock bottom, the only way to go is up.
The author, Hanafi Mohd Sam, also blogs at https://www.hanafimohdsam.com.