In the last decade, the method of business execution has changed enormously due to digitalization. And every vertical of business has been impacted by this change, be it marketing, business development, communication, or transaction process. Simultaneously, the sales vertical has also evolved.
In today’s time, customers are well-educated and don’t rely on the salesperson for product or service insights. Referring to sales survey, 57% purchase decision is taken before a customer approaches a salesperson.
This implies in the direction that time is shrinking for the sales vertical at an exponential rate. It may sound disappointing, but you can’t deny it. But that doesn’t mean the sales opportunities have also decreased. Again, thanks to digitalization, you can still increase sales opportunities for your business.
With growing technology and flooding social media platforms, the definition of sales has also broadened. In the words of Siva Devaki- Sales is not about selling anymore, but about building trust and educating!!
And this takes us to another and frequently searched query-
How to Increase Sales Opportunities
Most of the businesses, who are performing brilliantly, in sales are primarily focusing on enhancing overall customer experience and not just increasing their sales profit.
Here are few tips to increase sales opportunities-
1.Nurture Existing Customers–
As per sales and marketing professionals from LeadBridge Partners, the best sales prospects are people who have already purchased and tried your products rather than a total stranger. Based on this concept, it is always recommended to focus on the existing customer instead of only attracting new ones. However, that doesn’t imply that you should not focus on new leads at all. All you need to do is strategize it properly.
This takes us to another point- how to nurture existing customers?
2.Focus on Improving Customer Relationship-
I will start this point by quoting Tom Cates- Strong Customer relationships drive sales, sustainability, and growth.
And one way to build customer relationships is to provide a magnificent customer experience, even post-purchase. Always approach your customers to collect feedback about the product or service that you have provided. Communication is always the key to better customer experience, retention, and innovation. Ask your customers about their problems and provide them with relevant solutions.
Other than that, you can also offer appropriate discount rewards to your customer to make them feel valued.
3.Create Your Database-
Owning a database is one of the most targeted ways to increase sales opportunities. Basically, the customer database consists of customer information that is relevant to the company. Although, the relevance of the data may vary according to the domain and the company services.
Furthermore, the database enables you to keep the data of the customers updated. This, in turn, helps you to contact your prospects and customers, build loyalty, provide suitable services, and increase sales opportunities.
4.Craft Your Sales Pitch-
Indeed the time has changed and your customer or prospect does not want to listen to a robotic script, instead they prefer a normal conversation. Yet the right information is not out of trend!
Train your salesperson with your product description including benefits and problems associated with it. This would help salespeople to talk to customers about the product in-depth.
When I say craft a sales pitch, I do not intend to say a script rather benefits offered by the product or services in a generic way! Different customers come with different concerns, make sure you have detailed knowledge about the services or product you are offering.
While pitching your product or service for the first time, make sure you are explicitly mentioning its beneficial attributes. This will help you to grab the attention of your prospects for further conversation leading to sales.
5.Strategize Time of Contact-
This is one crucial factor impacting the conversions; however, most people are oblivious to this fact. You should be very much particular about timing while calling or mailing your prospects. The rule is set for both B2B and B2C companies. In any time zone, fix the morning time for setting up the prime connection. Whether you are contacting through email or call, decide a certain hour when the open rate and conversion rate are high. And these tactics will certainly help you to increase sales opportunities.
6.Use Content and Social Media Marketing-
Social media and content are two important aspects of digitalization that businesses have used to increase sales opportunities. Content is primarily being used for educating the prospects and bring them into the conversion funnel. At the same time, social media platforms are enabling the companies to put their product in front of their target audience and understand their psychology.
Besides increasing sales opportunities, you can capitalize on social media to access highly qualified leads and acquire new customers at a very low time. And content marketing can be used to build that trust with your prospects and customers for future reference as well.
The technology is evolving consistently, and that brings us multiple ways to increase sales opportunities. All we need to do is read between the lines to reach our target audience. Well, the digital era has provided us with a lot of channels to evaluate the psychology of our customers. But that is the marketing part.
Before that, we need to focus on the demand of customers and be specific about our audience. And once all the checklists are marked, we need to work on enhancing customer relationships to increase sales opportunity, because eventually, we are selling experiences and not just products or services.
We, at Valasys Media, are experts in shaping perennially healthy sales pipelines for our customers. Our services included lead-generation, account-based marketing, lead nurturing, content syndication & business intelligence to name a few; all of which have been designed to help our clients achieve their bottom-line goal of Conversion Rate Optimization (CRO).
For more information on our services, feel free to contact us.