Businesses are operating on a profit basis, and as such, ought to align their strategies accordingly!
To the customer, brands are in it to meet their needs and duel for their hand in sales, all the while competing with vendors of the same caliber. Think ‘many bachelors, one potential bride’.
With this in mind, customers use varying vetting methods to decide which brands to patronize and which deserve unquestionable access to their Dollar frontlines. While the desire to meet their needs is the primary driving factor, elements like personal, social, psychological, and ideological appeal play enormous roles in the ultimate ‘buy-in’ decision. For this reason, businesses find themselves burdened with the task of ‘appeal’, adopting methods that highlight their strengths, dim their weaknesses, and make them stand out from the competition.
To businesses, on the other hand, customers are the driving force behind and at the center of their profit-focused operations. Their opinions about, experiences with, and sentiments about the brand ultimately inspire the businesses’ trajectories and inform marketing, sales-driving, and retention-based decisions. It is, therefore, essential for them to employ strategies that tick the customers’ boxes and satisfy the bottom line, profitability.
In this blog, we discuss four sales strategies that can be effective in increasing a business’s bottom line, and also touch on how you can include gifting to improve your results.
Set Quantifiable Goals
Journeys embarked on without clearly defining the destination are mere adventures. Everyone loves them, but not everyone needs them. Journeys, on the other hand, require defined trajectories, anticipate potential hindrances, task travelers with defining ‘when we should get there’, and help calculate possible success. It is, therefore, of essence to set quantifiable goals in line with anticipated sales volumes and profit, considering:
- Production/output potential (How much can we produce?)
- Investment capabilities (How much production capital do we have?)
- Target audience (Who are our ideal customers?)
- Core messaging (How do we communicate our offers and who we are?)
- Message driving tactics (What are our marketing methods?)
1. Re-target Existing Customers
Did you know that it costs five times as much to attract a new customer than to keep an existing one?
The great thing about having an existing customer base as your primary point of reference is the research and re-learning potential. Here, you’re able to introduce new products, run upselling trials, and test out new selling methods. The list is endless. Given that existing customers are already familiar with your current offers, have vetted your products/services, and deem them satisfactory, exploring new engagement avenues may help increase brand awareness, referral, and consequently, sales.
You can incorporate gifting by adding gift invite links to customer-focused mailers, offering new product trial periods accompanied by gifts, and initiating referral and review programs that both delight the customer and stretch your business’s income potential.
2. Re-visit Previously-Qualified Prospects
Starting from ground zero and fishing for leads not only costs time, but the effort has a hefty price tag attached to it. When people aren’t familiar with your brand, it takes much more energy to familiarize them with your offers than it would follow up. It is, therefore, imperative for businesses to employ inbound sales driving methods by re-studying their yet-to-patronize prospects and looking into previous comms to better understand why deals fell through, despite an initial display of interest. This way, necessary adjustments can be made to initial offers, and better communication tactics can be adopted.
If your constant sales calls have proven futile, add salt to the chip by using corporate gift invite links as part of your email outreach to enforce a sense of obligation to reciprocate. You can do this by adding a coffee voucher to a meeting invite. This way, communication is reignited, and stagnant business can potentially be picked up.
3. Be Innovative (Sales, Bundle Deals, Exclusive Offers…)
For buyers to be familiar with your products and services, there needs to be an enticing introduction point, and sales and exclusive deals are it. Despite potentially having preferred brands in their books, buyers are always looking to get extra kicks for their bucks, and if offers highlight enough value for their Dollar, chances are, they’ll buy in – even on a trial basis. Sales, bundles, and exclusive deals are, therefore, ideal when attempting to drive voluminous traffic to your sales funnel. It’s a ‘the more, the merrier’ approach.
Appeal to people by offering gifts on attendance for webinars, demos or on-the-ground events, or create an offer where they receive a free gift based on an action that they need to complete. These offers can be sent through any messaging platform. What’s more, you can let recipients choose their own gifts when using the Giftsenda Gifting Platform. This is a fun and interactive way to break the ice and ease clients up before selling.
4. Utilize Digital Platforms To Optimize Sales
Thanks to improved global communication, simpler transaction capabilities, and efficient shipping, businesses can stretch their reach and appeal to buyers across the globe. Social media and other digital platforms facilitate this through the use of search, interest, demographic and geography-based algorithms. Incorporate tools such as SEO, ads, email marketing and promoted content to reach fertile audiences around the globe to increase brand awareness, sales funnel traffic and conversions.
Intrigued and keen on getting your corporate gifting ball rolling in order to optimize your sales efforts and increase your bottom line? Get in touch with us and our gift campaign experts will gladly assist.