Marketing and selling are two different things and you need to keep them clear. Marketing is to get your potential customers interested enough to engage with your organization to allow selling to take place. Selling is presenting all the positive features of your product/service, minimizing any negative reactions until the customer is willing to exchange their dollars for your Product service.
Lets face the facts… old-fashioned marketing tools aren’t going to keep your business a growing and prosperous entity in today’s marketplace. Hey, this month’s hottest techniques and information will be obsolete in six months. Now, I’m not saying that old marketing principals cant be upgraded and incorporated successfully, but as a rule marketers have to stay on top of the latest marketing trends.
If you’re wanting to stay ahead of your business savvy competitors you’ll need to implement 3 tactics to stay one step ahead.
1. Watch For New Advertising Methods
You never know what will work for you unless you take the time to experiment! Who knows? The next marketing experiment you test may be a million dollar idea. Keep your eyes peeled for the latest marketing news.
It never pays to put all of your eggs in one basket. Don’t neglect the tried and true marketing tools that have been successful in the past. Invest about 20 percent of your advertising budget and time into testing for new marketing strategies that will increase your profits.
2. Spruce Things Up
Don’t get stuck in a rut. Yeah, you have products that have been successful for years, but what would happen if you gave them a “face lift?” Would you attract new customers? Would your old customers enjoy the change? You’ll be surprised at what a new packaging will do for old product sales.
Sprucing up doesn’t have to stop with your products. A few minor changes in the store appearance can bring new life to your place of business as well.
The more products you have to offer, the more insulation you have against the decline in popularity of one particular item. Don’t go out on a limb, when you’ve got a good thing going. Look for products and services that compliment your current products and services.
Don’t let the speed-of-light changes in the market take your business under. Stay afloat with these proven tactics.
Conversion of Marketing Leads to Sales Prospects, is a skill set that some sales people do not have, and as a result some salespeople will spend way too much time on leads that are only minor customers at best, or in a worse case they do not recognize a real buyer and fail to close on sales unless the customer is demanding to buy.
If you can review the sales records of your staff you will find the first type “selling everyone” talks about the most opportunities but has the lowest profit or sales dollars per sale. This is because they feel the need to make every sale no matter what they have to give up to get the order signed. The second type “oblivious” you will see they only have large sales from larger organizations who know what they want (more than 50% of the Buy/Sell relationship comes from the buyer).
How to solve this problem
Well first it might not be a problem if you have a large enough sales staff and they are open to trading Accounts / Leads you simply ensure that they get the right type of clients to work.
If only have a limited number of sales people, you might try modifying their behaviour the first type modify their commission structure such that they are rewarded by profitability not just total sales dollars. The second type simply needs training (or review) to better recognize clues for closing.