Whatever the size of your company, the goal is the same: to earn a profit.
The way you do that is with regular sales. But you do not want your sales figures to stagnate. You want to see consistent growth, which requires regular increases in SMB sales.
Today, we’ll review multiple steps you and your team can take to continually increase sales as you enjoy watching your company grow year after year.
Ready to Increase SMB Sales? Implement These 7 Steps
Small to medium businesses are typically more risk-averse than larger companies. Therefore, you need to adjust your sales and marketing strategies to appeal to them. Creating and implementing an SMB sales strategy takes time, effort, and patience, but it will pay off not just with lead generation but also with sales growth.
1. Personalization and Specialization
If an SMB is going to invest in you, you need to earn their trust. To do that, you need to offer personalized products or services.
Personalization is essential enough that McKinsey & Company points out that customers now expect it from a company. Traditional approaches to sales are not as effective anymore because competitors easily duplicate them. To set yourself apart and gain a “sustainable competitive advantage,” you need to show your customers that you:
- Recognize that their problems are unique
- Have a solution that will fit their needs, rather than a one-size-fits-all approach
Doing this will not only help you gain the interest and trust of SMB customers, but it can also help lower your marketing and sales costs by 10% – 20%.
2. Connect and Engage Early to Develop Trust
When you start working with SMBs, you’re basically building personal relationships. To do that effectively, you must develop trust before you can expect a sale.
Avoid outright selling to someone before you have developed that relationship. Instead, start engaging with potential customers in person, via social media, or through email marketing. Get to know them. Ask questions. Answer questions they ask of you.
Start establishing trust before they are ready to make a purchase by availing yourself to them throughout the customer lifecycle. Marketing this way will help ensure that your company is at the top of their mind when they’re finally ready to buy.
3. Think Ahead to Handle Objections
Your ideal customer is not always going to say “yes” the first time you invite them to invest with your company.
You have likely taken the time to create an avatar of your ideal customer persona to more readily appeal to them in your marketing campaigns. Also, take some time to consider what type of objections they might have to invest in your product, service, or company.
When you have a list of potential objections, brainstorm with your team. What can your sales team say to overcome the objections? How can you address objections (and their solutions) in your marketing materials?
4. Demonstrate Value to Your Customers
Your customers are always going to ask: what’s in it for me? Your value proposition summarizes why customers should choose you based on the benefits they’ll receive by investing in your product or service.
To demonstrate your value:
- Highlight the outcome they will experience from using your product
- Offer ongoing support even after they make a purchase
- Build a community
- Offer improvements regularly
5. Keep Things Simple
Potential customers don’t want (and often don’t have time for) an in-depth sales pitch. If you really want to impress them, consider delivering a personalized yet simple and straightforward sales pitch and product demo. And don’t forget to have a quote ready.
6. Offer Turnkey Solutions
If you have ever watched a show like Property Brothers, you know that people looking to purchase a home are looking for a “move-in-ready” option. The idea of having to fix up a home before they can move in and enjoy it seems exhausting.
Similarly, small to medium businesses want something that is easy. They want a solution to their problems that is not complicated. Instead, they want something that can be up and running right away – and with as little effort on their part as possible.
Like you, SMB owners are busy. They need something that is going to save them some time, not make life more complicated. Therefore, clarify that the solution you’ve created will meet their needs without requiring a ton of time or spending more money on extra features.
When you take the turn-key approach, you show your customers that you value their time and that what you have to offer is highly relevant to their needs.
7. Request Regular Customer Feedback
Ask your customers for feedback on your:
- Customer service
Learning in which areas your company is lacking or where customers are having issues is helpful. By addressing the issues, you provide the type of service your customer base wants and needs.
Getting feedback provides a different perspective, one you might not have considered. You are looking at the customer’s pain points from your own perspective. Receiving insight from their perspective helps you craft a product or service that fills their needs more effectively. It’s yet another way to set you apart from the competition.
Additionally, asking for feedback puts you in an even more positive light with your customers. They appreciate that you value their feedback. It makes them feel like you value them and their insights. And when you implement changes based on their feedback, they feel like you’re a company that strives for excellence because you actually listen to your customers.
For Best Results: Focus on Effective Leadership
Implementing changes to your marketing and sales campaigns takes a lot of work. Your team is well-equipped to accomplish everything involved. They just need your support and encouragement.
Leading your team with motivation, good communication, flexibility, and approachableness will help you, your team, and your entire company enjoy better lead generation and an increase in SMB sales.