While it’s true that many of the top selling companies also invest tons of money and resources into their sales efforts, it’s also true that they likely didn’t have that kind of budget when they started. Still, it can feel daunting for a startup with limited resources to really get their sales moving in a steady incline. As business owners and managers, you have a real fear of overspending on the wrong things and failed sales campaigns can easily take over a large percentage of the annual budget.
To ensure that you’re being conservative with your funding sources and spending the right amount in the right places, here are a few tips to boost your sales on a tight budget!
1. Never underestimate the power of networking.
You might notice that some of the longest standing local establishments not only have a great product, but also have an owner that is very present in the community. Networking can help get your business earning stable profits simply by being in the right place at the right time. Some ways to accomplish this include attending local events relevant to your industry and joining relevant social media groups. The best thing you can do is start chatting with others in your industry and searching the web for relevant social functions. Depending on your product, or service, it can take just a handful of referrals to start making big sales and establish a regular clientele. If you feel like you’re not the best at social graces, finding a manager willing to add this to their job description can be a huge help.
2. Make referring business appealing to your existing clients.
So maybe you’re attending a few meetups each month and have noticed new local business. Great! Now let’s talk about how to maximize that. The buzzword here is incentive! Offer some kind of promotional offer to your regular clients for direct referrals. Can they have 40% off on their next purchase per referral? Can you give them a free promo product? What about a free month of services? These are all great ways to not only show your customers that you appreciate them, but will also get them very motivated to bring you more business. It’s a win-win!
3. Assess your web presence and improve where you can.
Do you find that your social media posts feel like your business just talking into the wind with limited engagement? Maybe you’re too busy to make regular posts. Whatever the case, becoming aware of your issues with your online presence is the first step. Give a genuine assessment and find some ways to improve. Can you start a blog on your website to gain more trust from your clients and offer more expertise within your industry? Can you appoint someone on your team to manage your social media so it’s more consistent? Maybe you found that you need to update your profiles across the web to ensure accurate locations and contact information is easily found. These are all relatively low-cost actions you can take that will make a huge difference.
4. Develop your sales pitch.
Mastering your sales pitch depends on a few factors. First, you need to understand who your best customers are and the messaging that they’ll relate to the most. Secondly, you need to create language that is genuine and focuses on adding value to your customers. What problem does your product or service solve for potential customers? How can what your selling make their lives easier, or better? These should be the questions that drive your pitch. Lastly, practice giving your pitch at home, and even ask friends and family for feedback. You should develop a list of questions that you’ll likely be asked and find ways to answer them. Consider creating a long and short version of your pitch for different occasions.
5. Automate where you can.
As a business owner, or manager, you know all too well that the saying time is money could not be more accurate. You’d love to have all the time in the world to work on your email list and keep excellent detailed records on all your accounts. Unfortunately, your plate is already more than full. Utilizing automation software whenever possible can offer a tremendous value. Some great examples are social media scheduling tools so you can get your social media posts scheduled out for the next few weeks all in one shot. Find a CRM (Customer Relationship Management) that can make updating your records that much faster. These tools will help put all of your data in one place and make decision making that much more efficient and effective.
J&R Marketing is a marketing company that specializes in branding, development, custom packaging, apparel and products, and business consulting. If you’re interested in discussing your brand or business contact us today.