6 Instant Sales Improvement tips for an online business
Improving sales and further developing the performance of the whole brand is like pumping more blood into the heart of your business. This article will focus on the execution part and how you can learn from the secret selling techniques of the top brands!
Improve your Sales Pipeline / Sales Funnel Analysis
Display the Product Value
Work on Product Photos and Descriptions
Have a good Pricing Strategy
Launch a Marketing Campaign
Hire a specialist
1. Improve Sales Pipeline / Sales Funnel Analysis
It doesn't make any difference what industry you're selling in (or even the thing you are selling), the requirement for sales improvement is normal.
The number one thing that seperates good sales from the bad sales is the funnel. What is behind this magic word? This is quite simple.
Sales Funnel is a business channel that simplifies the process of the purchase. There are a few stages to a sales funnel, normally known as the top, center, and lower part of the channel, however these stages might change depending on an organization's business model.
For example - if you're selling B2B the sales funnel is going to be much longer compared to the B2C sales funnel.
How to improve sales pipeline?
At this point you must be wondering: "How do I improve my sales funnel" or even "Do I have a sales funnel?" Truth be told - there is a good chance you have one, but you just don't know yet the specifics of how it works.
First thing you want to do is sales funnel analysis. Get into the shoes of your customer and check what they have to do in order to make a purchase and do it from the beginning until the end.
Analysing your income funnel is the first step towards improving it. Without solid foundations you aren't able to improve anything.
If you don't know how to do it, that's okay. You can get a professional to do it. For example Camel Marketing has a service tailored exactly towards online sales improvement .
You should give it a look.
2. Display Product Value
No it doesn't mean write how much you have paid for the products and all the costs involved in the price.
"Product value is the benefit that a customer gets by using a product to satisfy their needs, minus associated costs. Complexity is the effort associated with delivering such a product to the customer."
Total versus comparable value
The worth or value of a product relies upon two angles: the significance of a goal that a client is attempting to accomplish and the alternative products or value propositions that are available on the market. Total Value measures how well a product addresses the client's issues, through relative worth puts the item esteem in the viewpoint of the available product competition. Understanding both is basic to settling on the right item choices.
Optimal and declining value
Products normally comprise of a bunch of components that, joined together, mix towards the final value. A straightforward thought of "the more options, the better the product," could potentially be true. However - This thought expects that each new component would make the products more interesting towards the customer.
3. Work on Product photos and descriptions
I don't think it can be expressed enough how much online entrepreneurs spend on creating unprofessional photos or descriptions.
You can have a great product, but it's only worth as much as you can sell it for.
A product desctiption is the promoting text that clarifies what the product features are and why it is worth buying. The motivation behind an item depiction is to provide clients with significant data about the features and advantages of the item so they're influenced to make a purchase.
Why is this overlooked? Because nowdays we are images driven instead of text driven. However according to what we have seen, a great product description is going to indeed make the customer decide when they are unsure about the product.
The best thing is - you can shorten the product description into the photos and have the longer copy in the actual product description on the website/store. In order to increase your sales you actually need to work on how in words you display the product's value. Same goes to photos.
In B2C model a good photo is necessary to draw the customer's attention. This is why in order to improve your sales you need to work on how the product is portrayed.
4. Have a great pricing strategy
Pricing strategy can be a difference between selling good and selling great. Without certain level of commitment to how the whole pricing works as one you are cutting on so much possibilities. What actually makes your customer order more products? Is the free shipping actually worth it?
The answer to these questions is - "Well, that depends on your pricing strategy". If you are rushing for just a simple £19.99 or $29.99 well... that isn't really differntiating now is it? You can get so much more if you just let professionals take care of it.
We have created over 60 pricing strategies and we do have the data to back up this sentence.
Good Sales Improvement, starts with Great Pricing Strategy
Surprised? Think of the previous highlighted sentence and you won't be! If you have 100 sales a month with just $9.99 average product value - that's good.
But if you have the same quantity with $29.99 - This is a completely different story!
Don't know how to begin working on your pricing strategy? That's okay we can take care of this for you and most importantly it's not pricy! You can have a sneak peek here - Pricing Strategy | New Business Solutions | Camel Marketing
5. Launch a Marketing Campaign
How can anyone expect a sale if no-one knows about you? Without a marketing strategy, advertising campaign and most importantly brand awareness - your sales will be going down. Without awareness, there is no engagement, no interest, no action and no sales. Easy as it is.
Marketing campaign refers to both actual online adveritising, as well as the actual promotion. Without a great promotion for a product you won't be able to make it about the product benefits.
How to advertise a new online business?
Commonly a lot of new online businesses, especially new ones are looking for ways to market online without spending a dime on advertising. It can work....ish. However when you think of posting on facebook group, your competitiors are doing the same because the channel is free to use.
However if you're using paid channel you are paying for traffic which is great in a short spectrum, but not in a long-term. In order to get awareness effectively you have to work on both paid and owned media in order to have a sustainable way of development.
Don't be afraid to spend on your marketing and advertising. It's one of the most common ways to make more money for your business.
What media should you use to improve sales?
Great question! The answer is - it depends. On the product, your audience, the costs, the goal... well we can list a lot. Which leads to the 6th tip.
6. Hire a professional
Sales improvement is as you can see not so complicated in general, but a lot of work. However the devil is in the details. You could go through the sales channels and analyse your funnel and improve the sales by about 30%.
The amount of time you'd spend on this is going to be (using correct, universal measurement) - a lot. The results will also be limited. This is why we highly recommend hiring someone to do it.
Of course not every professional can do the job the same. Also you always get what you pay for. This is why hiring a "professional" for £15 or $20 to "do your marketing" can bring...mixed results if any at all. These people usually are at the beginning of any career and can deliver minimal results. You'd be far better doing it yourself.
Okay, so do you have to spend XXXXXX to actually have good marketing? Not really, the best indicator to go with is the value for money and the portfolio.
Here in Camel Marketing, we honestly believe that charging our customers too much will drive them away. This is why we prefer to put the length of our relationship over quick profits.
You can get the best value here - Hire a professional