The entrepreneur must do at least one thing to improve the marketability of his products, or improve customer communication, or generate new business every day.
Sales A to Z
Each business offers a primary product or service upon which the business needs to focus. Better Business Practice offers a comprehensive strategic and financial service support to empower business owners to concentrate on their main source of revenue. No business is perfect, but can be improved incrementally. To compete and remain feasible it is essential to aspire to better the business that you practise. Practising better business is also not only about PROFIT, for a business to be truly successful it is important to consider other business objectives.
Let’s take a different approach.
In most cases, 80% of sales come from the top 20% of customers. Learn how to find and work with your highest potential customers.
When you have made a sale, follow up with customers, to make sure they are happy with the product and to ensure future sales. Following up after you've made a sale will enable you to capture repeat business, the cornerstone of most successful small businesses. You can follow up by phone, in-person, or through the mail. Here are some tips for you to try in your business.
In any business in any industry, customers play a critical role in determining success. Having adequate customer service and retention strategies are therefore invaluable to the small business owner or entrepreneur. However, before you can sell anything to anyone, you must first understand what it is they need. This article offers advice on how to learn your prospect’s needs.
The strike or hit rate is the ratio between the number of enquiries or prospects against those who eventually buy. This ratio differs widely depending on business type, with over-the-counter walk-in businesses getting high strike rates vs. business to business (B2B) suppliers of capital equipment, which may be around 25%. Whatever type of business you are in, a lot of sales effort goes unrewarded. Improving the strike rate means more sales from the same number of prospects.
What was first – the chicken or the egg? In some way we are faced by the same challenge in business.
Creating and executing on an effective marketing strategy is something that many SMEs struggle with, and without which many businesses may not be able to succeed. It is because of the “make-or-break” power of marketing that it is important for you as an entrepreneur or business owner to have the necessary tools at hand to develop a marketing strategy that ultimately benefits your business. To address this need, Basil O’Hagan has created a neighbourhood marketing checklist for SMEs to better help them attract customers, make sales, and boost profits.
You may not see it this way, but no matter what type of business you operate, you will have to sell. Whether you are selling your product, your service or simply your company's reputation, you have to be good at it to guarantee the long-term success of your enterprise. Here are some tips to help you sell your product or service using the resources at your disposal.
For the second year running, data from cloud-based sales software, Pipedrive, reveals that South Africa is the best country in the world at converting leads into sales.
There is little doubt that one of the key success ingredients is to grow your business by building relationships through networking. I believe that the aggressive hard sell days belong to a different era. It is one thing to adopt the networking strategy. It is another thing entirely to become a world-class networker. Here are a few key tips and tricks to help you on your journey to becoming the best networker you can be.
Over the last few weeks I’ve had several questions regarding sales people.
A sound pricing structure helps companies generate sales and build customer loyalty. The wrong pricing structure can leave businesses struggling to service customers and reach profitability. When you need to determine what to charge for your products and services, steer clear of these common pricing mistakes.
In a competitive market environment business owners are prone to sell themselves short, because they do not take the time to determine a fair and justifiable price for their services and products. There are various methods of determining the worth of your product or service. For example, there are so-called "value drivers" that support the charging of a premium for your service or product, if it solves an expensive problem for the client or saves the client money. This article expands on the concept of value drivers as well as other pricing strategies.
Most businesses would like to increase their turnover, but often struggle to do so. One reason is that businesses simply set a growth target with no focus on where that growth should come from, or why people would buy more from the company. Increasing turnover means more sales to existing customers, more new customers, or higher prices. This article focuses on how you can increase your business's turnover by growing your existing customers.