If you want to grow your business, establish your business online everywhere eager buyers are searching and you will be rewarded by legions of loyal customers who will gladly tell the world about how your business changed their lives. How, then, can you increase sales?
New sales leads are the creme of every business. Knowing the demand for your product is essential to be able to generate sales leads. It is a known fact that businesses survive and flourish on sales. New sales leads are the oxygen business breathes. How do you anticipate those shopping for what you offer?
New Market Research Discovers Sales Leads
Every business irrespective of size and type must conduct thorough market research about your industry. Perceiving the attributes of your market equips you with intricate details about it. Understanding the exact requirements and wants of your customers helps you serve them better. Once you see and know your buyer personae, tell your business story to the right people and new sales leads will come to you.
New Leads Are Also Aware Of Your Competition
Market research also provides competitive analytics. With this information you can understand where to reposition your brand to achieve a competitive edge over your competition that will generate new sales leads. What do you have that benefits your customers more than what your competition offers?
Marketing To New Sales Leads
Communicating your main benefits to your customers is of utmost importance. To explain this better, let’s look closely at the 4 P’s of Marketing:
Product — As explained earlier, knowing about the market dynamics equips you with diverse knowledge and helps you to position your product and service everywhere consumers are shopping for it. Redevelopment and re-engineering of your product in light of consumer demand is necessary to capture new sales leads. Furthermore, to induce repeat sales and referrals, give your customers reason to come back for more.
Price — The price of your offering should reflect its value to your customers. Setting high prices without commensurate value will simply drive customers away. Even selling premium products, keep the high price in line with the perceived benefits. This not only attracts the cream crowd but also substantially increase your revenues. Truth be told, prospects are less concerned with price and more with what’s in it for them.
Place — This is the location where you sell your offering, the distribution channel. Again make sure that your business is convenient to your customers and reduce their effort to the minimum. Your distribution system must be devoid of middle men. Proper replenishment of stock is necessary to avoid customer dissatisfaction and keep up with demand. New sales leads benefit from you being at the right time and place.
Promotion — Perhaps, the most important aspect of generating new sales leads is your communication strategy. Based on your audience and product, marketing communications should nurture relationships. Whether you’re advertising or promoting sales, your desired result is to anticipate eager buyers shopping for what you offer. For example, during a sales lull, offering discounts and incentives will continue your revenue stream and keep customers interested in you, your business and your products.
By John Hester