Sales is all about your clients. After all, they’re ones who buy your products and/or use your services. It doesn’t matter if you have the lowest prices, the most innovative products or the most personalised services. If the customers don’t have a positive experience, they will not choose to do business with you again.
So how do you ensure that you are able to maximise your sales, provide the best customer experience and develop good customer relationships in the future? Here are some factors you should consider:
1. Your Customers’ Profile and Demographics
It’s crucial for any business to understand their customers. This way, you’ll know exactly what they are looking for and you can provide the products or services they need. Begin by profiling your customers, starting with the most basic data, like age and gender. Social demographics are also critical. Income information, for example, can indicate customers buying power.This is important intel as you don’t want to encourage customers to buy your products if they can’t afford it. The customers’ marital status can also affect their buying decisions, especially if they have children. Education level and background, meanwhile, can indicate possible familiarity with your products and services. They may or may not be as easy to persuade to buy your products/services, depending on these demographic factors.
It would be valuable to know the type of products and services your customers buy from your business already, and why, and if they patronise your competitors it would helpful to understand the reason behind these purchases. Finally, it is crucial to listen to the customer feedback. You should regularly check your customers pain points. Remember: sales are not about selling commodities but rather offering solutions for your customers’ problems.
2. Your Competition
If you don’t research your competition, you are running your business in the dark. Make sure to analyse their offerings, especially if they have a product or service that you don’t currently have. You should also consider the areas where your competition has a much bigger presence than you. Study what makes them popular in that location to help you decide whether or not to expand there as well. What in-store or on-line experience are they offering that you are not? Are there technology advances which the competition has implemented that you need to check out. You may also identify gaps in their current offering which may be a way to make your business have a point of difference. It also makes good business sense to figure out any pain points customers’ may have with the competitions offering. If you can address these pain points, there’s a good chance that you can attract some consumers over to your side.It is important to identify your own unique selling proposition (USP), which can give you competitive advantage and can become your focus on in the next marketing plan.
3. Your Own Products and Services
Once you understand your customers, you will need to review your product range and services, to ensure you are providing the best possible customer experience, in the product range and in the service you offer.If customers don’t find that your products and services are relevant to them, then they will not purchase from you, and you will need to go back to step one and try to understand why.
4. Your Team’s Performance
Once you are confident that you’ve done everything to ensure the quality and relevance of your products and services, what is next? You will need to check on your sales team. Are they doing well? Is the sale territory they are covering too wide or too small? Are their communication skills up to scratch and are they familiar with every nuance of what they’re selling? If not, then you might want to consider sales training and other relevant programs to make sure that your agents are well-equipped. People have a tendency to associate the message with the messenger, so to speak. Therefore, you have to ensure that your salespeople are the perfect brand ambassadors for your products and services.
5. Your Potential Customers and Territories
Based on historical data, you can check whether the area you are targeting, is a high-performing territory? Will it continue this trend? Are there high-potential areas that you aren’t servicing yet?
These are factors you will need to consider so you can effectively create sales territories and maximize profits. Make sure to take notes as you implement your sales territory plan so that you can keep track of what works and what doesn’t. The information will help you determine if you need to adjust the territory plan, create new territory divisions, or both.
Remember, no two sales territories are the same. In addition, territories change all the time. For example, real estate developments can attract more residents. The gentrification of an area can also result in a change in demographics. As such, you should be ready to make necessary adjustments to your sales plans, and perhaps the boundaries of your sales territories.
In the end, giving your customers the best possible experience can go a long way towards helping your business meet its potential. No matter how big or small your company is, satisfied customers will always be key to sustained success.