Losing Sales Is A Big Deal. So Where Are You Going Wrong?

By Business Desk

Friday, March 31, 2017.

Sales figures aren’t the only crucial barometer to measure the success of a business. Nonetheless, those revenue statistics are integral to the overall performance of the operation. Furthermore, they will dictate your future as well as the present. Quite frankly, if you’re not gaining the level of sales that you desire, fixing this should be top of the agenda.

You may have the foundations of a solid business model in place. However, even the smallest errors could be costing you valuable sales. Here are some of the common traps that contribute to the failure of up to nine in 10 new businesses. Make sure that your company avoids them, and your hopes of success will look brighter than ever.

Poor Marketing:

Before worrying about the conversion of interest to sales, you need to generate that initial attraction. Unfortunately, you aren’t going to see any sales until people are aware of the business. Building a suitable brand that advertises its products in a winning fashion is a crucial step to take. After all, it might not only increase the level of sales. It might bolster the sale prices too.   

Inadequate Selling Facilities:

Products and services should always be the priority. However, it’s still important to appreciate the other expectations held by the customer. This is especially true when looking at the transaction itself. Investing in advanced POS systems and ecommerce systems can help overcome these issues. Likewise, accepting multiple payment types and repayment methods can keep the doors open to a larger audience. Let’s face it; losing a sale simply because a customer cannot pay would be a business sin.

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Lack Of Team Support:

In truth, the vast majority of the company’s sales will be handled by the staff. Therefore, knowing that your employees are equipped with the right skills to thrive is essential. This could mean launching a specific sales script or strategy, or may just require generic staff training. Either way, it’s equally important to ensure that all employees interact with customers in a friendly and positive manner. If the atmosphere throughout the company is lacking, your sales figures will be slacking.   

No Reputation:

In today’s business climate, virtually all clients will research your company’s reputation before completing a deal. For most customers, this will mean visiting the business website. A well-designed platform supported by a strong Google ranking will set a positive platform. However, the unbiased views of other consumers often carry a far greater influence. Using testimonials and customer reviews to underline your reliability can put many consumer fears to bed. In turn, that could get the sale over the line.

Trust Issues:

From the customer’s perspective, knowing that any potential troubles will be handled in the right way is almost as important as the products. Boasting a strong customer care team will immediately reduce those worries while a fair returns policy is equally vital. Meanwhile, software escrow services can protect both parties when dealing with licenses. Whether it’s a consumer or a b2b client doesn’t matter. Providing the reassurances regarding the long-term benefits of your items can only have a positive impact.

Slow Delivery:

As the seller, you may not think that 48 hours makes a big difference. However, many clients demand their products ASAP. Finding a delivery service that offers next day services rather than a 3-5 working day service could transform your business. This is naturally a huge factor for online sales but can be very useful for localized offline ventures also. Quite simply, if you snooze, you lose.

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Limited Incentive:

With so many companies fighting for a customer’s loyalty, you need to show that your service is the best option. In truth, it’s often the external matters that have the biggest impact in this arena. Running loyalty schemes and promotions can provide extra motivation for a consumer to choose your business. Meanwhile, simple gestures such as supporting a charity or operating in an eco-friendly way can aid the cause. If it gives you an edge over the competition, you’d be a fool to miss out.

Lack Of Time Scale:

People work hard for their money, and won’t part with it lightly. Quite often, you need to give them a little push in the right direction by forcing them to make a decision. Limited time offers are a great way to do this. Whether you’re using email marketing schemes or other methods to embrace these ideas isn’t important. The crucial factor is that it will generate an increase in sales figures. Let’s face it; the people that decide not to complete a transaction wouldn’t have done it even without a time scale.

Targeting The Wrong Audience:

Every business has its niche. Even if your potential customer base is quite large, it’s important to find your place in the market. One audience may love one concept while another may love it. As such, conducting your market research to know where you are is key. Remember, your demographic may have evolved since launching the business too.

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Bad Pricing:

It sounds a little obvious, but far too many companies ignore the importance of suitable pricing. If your items are overpriced, customers will go elsewhere. That’s not to say you can’t charge premium rates for premium goods. Knowing what else is available on the market will allow you to act and keep sales figures high throughout the business journey.

No Interest In The Customer:

Customers deserve to be seen as more than a route to profit. Ultimately, they are the most important people in the entire business model. So if you don’t respect that fact, they will choose a competitor who does. Showing the client that you care builds a far stronger relationship. And when they are invested in the people behind the brand, they are far more likely to invest in its products also.

So try those 11 simple tricks to resurrect your dying sales. You’ll be back to selling for fun in no time.