When you’re starting your own small business, you have limited resources at your disposal, including money and time. To keep costs low, it’s essential to maximize every opportunity to make more sales, both by increasing the number of people who come into your store or business and by increasing the value of what they buy once they do come in.
Starting your own small business can be exciting and scary at the same time. No matter how good your idea might be, it can be hard to get noticed by all the other small businesses out there trying to do the same thing you are. However, if you can put in the hard work, learn from past mistakes, and avoid these seven common mistakes, you’ll be well on your way to increasing sales volume in your new small business and turning it into something big.
Have the Right Attitude
No matter how qualified you are, how good your product is, or how well-crafted your marketing is, no one will care if you don’t treat people well. If you’re trying to grow a business, but you’re constantly frustrated with slow sales and lack of progress—take a step back and look at yourself first. You might not be building your company on solid foundations that encourage growth.
Emphasize Customer Benefits
When increasing sales volume, focus on benefits more than features. People are drawn to companies that offer more value and better experiences than their competitors. When you can articulate these benefits clearly, customers will be more likely to make purchases from you, so they can get more of what they want out of life.
Build Brand Loyalty
Building brand loyalty is just as crucial to your small business’s success as increasing sales volume. When you treat your customers right and make sure they’re satisfied, they’ll keep coming back and bring more of their friends along with them. To increase sales volume in your new small business, it’s a good idea to focus on developing a loyal customer base first and foremost. Those repeat buyers will become your strongest advocates with time, which can only be a positive thing for your company. You might not always get an opportunity to directly interact with every customer who walks through your door. Still, if you use technology strategically, you can reach out frequently and forge stronger relationships that pay off long-term.
Understand Customers’ Challenges
As an entrepreneur, your number one job is identifying and solving customers’ problems. Whether you’re developing a new product or service or designing a marketing campaign, keep customers at center stage. Don’t develop what you want to create; develop what customers need. Your customer’s needs will guide everything from product specifications to advertising copy to sales techniques.
Some typical customers’ concerns within small businesses include slow delivery time and trouble with payments. You can address these issues by offering better payment terms if they pay upfront before delivering goods or services. With the payment method options, you can choose merchant services that allow you to accept different forms of payments online, like PayPal and credit cards. It can be such a convenience to your customers.
Develop a Long-term Plan
Creating a long-term sales plan is an effective way to set goals and measure progress. Even if you’re not focused on volume, at least think about how much revenue your company will need to bring in every month. Pinpointing where you are now and where you want to be can help ensure that new marketing initiatives don’t send you over budget or force scaling before it’s time.
Partnerships are an easy way to extend your reach while establishing yourself as a thought leader in your industry. These partnerships don’t have to be formal, but they should provide mutual value, so you both come out of it with something positive. For example, maybe you both decide to cross-promote each other’s content or participate in a social media campaign together. If you’re just starting, create a list of potential partners and reach out to them.
Record Your Improvement
It might sound tedious, but there’s a good reason why you should keep track of your sales numbers: so you can see what works and what doesn’t. At any given time, there are dozens of different strategies that small businesses use to increase sales volume—but most fail. By writing down your progress and seeing which methods work best, you can learn from other people’s failures and avoid their pitfalls. Each month or quarter, be sure to revisit your recording sheets; as long as you don’t take criticism personally, even positive feedback can give you some new ideas to improve your business.
Determining how to increase sales volume can be tricky, but there are some tried-and-true techniques that you can use to improve your results. By adopting these strategies, you’ll be able to gain valuable insight into improving your next sales campaign.