If you’re a business owner, the one question that probably keeps you up at night is how to increase your sales?
The economy, tough market conditions, a proliferation of competitors, disruption…just a few factors that may be impacting on your sales.
“Sales”
On its own, the word seems harmless enough, but when followed by descriptors such as “performance” and “targets“or preceded by more ominous terms such as “declining” or “sluggish” it suddenly takes on a somewhat different connotation.
As a business owner, you just want one thing…to increase sales. An upward sales curve. Growth.
Simple. Isn’t it?
Well, today things are a little different. Actually, they’ve been different for some time.
But, before I continue, let me ask you…
When last did you go out for an ice-cream?
Think back to when you were a kid (or, perhaps it was just last week). You were being taken to your favourite ice cream shop (OK, Gelateria!) to be treated to an ice cream.
As you entered the shop, you headed straight towards the freezer display cabinet, peered through the glass and immediately surveyed all the flavours to see which ones were available. The “usual suspects” – vanilla, chocolate and strawberry – were inevitably there, but there were also other, less familiar varieties on show (could we even pronounce “stracciatella” back then?).
Presumably, you would have asked the assistant behind the cabinet for some clarity, and even tasters (be honest, how many times did you ask for a taste of other flavours, even when you knew exactly what you were going to choose!).
Finally you would make your decision and choose the flavour/s to buy.
The store assistant would have done little more other than to identify your need, informed you of the range, provided some clarity, allowed some tastes. Ultimately, it was you that controlled the process. No-one sold you anything. You chose what you wanted to buy.
“Sales” is NOT about selling!
As a business owner, where you may think in terms of sales and selling, your customers think in terms of BUYING, and it is here where the critical distinction must be made.
Buying, Selling – opposite sides of the same coin.
Selling is a process that is built from the inside, out – it’s about what you have or what you do and how you sell this to the customer. It’s about reaching targets, driving teams – it’s about “pushing”.
Conversely, when looking at creating a process for the customer to buy, the emphasis is reversed and shifts from the outside, in. It’s more about understanding what the customer really needs, positioning your product/service, informing, delighting, and doing whatever is necessary to provide an ideal scenario for the customer to buy-from you. It’s about “pulling”.
Meanwhile…back at the Ice Cream Shop
Going back to our ice cream analogy, this is exactly what store assistant did, guiding you on a buying journey, by highlighting the range, providing information, delighting and ultimately creating the perfect scenario for you to buy.
But sales people sell. Surely?
OK, so let me get this out the way, sales people are a vital component in any business ecosystem, many of whom are without question brilliant at what they do and as a result, are equally successful. They are assets to your business.
Even with an e-commerce or platform-type business, there is usually still some form of intervention by a sales representative to close the transaction (or offer related support).
However, it can be argued that these people are not salespeople per se, but instead, are gifted at understanding human behaviour, equipped with an inherent – or perhaps trained – ability to build rapport with potential customers; identify their specific needs, and then effortlessly position their offering accordingly, as they skilfully guide their prospect towards a close.
It is perhaps the weaker salesperson who looks to “sell” the customer, usually relying on (over)confidence, and persuasion techniques to cajole the prospect into submitting to the sale….
“ABC – Always Be Closing”, to echo the words, spoken by the character played by Alec Baldwin in the 1992 film Glengarry Glen Ross.
Remember, not everyone can be your customer
Importantly, if your business doesn’t have what the customer is looking to buy, then you shouldn’t even try to sell. Sure, you may secure a sale. Once. But, it is unlikely that the customer will come back.
If you know that you do not have what a prospect needs, then let the them find another brand than does. Move on to another customer prospect that is looking to buy what you have to offer. It will be far more worthwhile in the long run in terms of your effort, time and ROI.
The flipside of digital
Most business owners and marketers today prefer to focus on digital marketing metrics such as impressions, engagement, clicks and conversions – with conversions being the only metric that is deemed to have real value (i.e. sales – or at least hot leads that will soon translate to sales).
Do we really care about Impressions?
However, what is often overlooked is the true power of the digital realm – i.e. it provides customers with greater access to knowledge to inform the choices they make. In short, it makes them more discerning buyers.
And it is here that the opportunity really exists. To use the data and analytics that digital marketing provides to better understand the buying journey of your customers.
Today, it is very seldom to hear of a sales representative (at this stage, let’s rather call them “Buyer Facilitators”}, who has engaged with a potential customer that has not done at least some form of investigation into the product/service they are thinking of buying – checking websites, assessing user-ratings, looking for comments on social media and so on.
Customers today are very well-informed – sometimes more so than the representatives of your company!
Bottom line: As a business owner, you need to accept that today, your customers buy, you do not sell.
So, what must I do to increase my sales – er, “buys”?
It’s about knowing what your customer prospect really needs and then ensuring that you present as much information, via as many “touch points”; to take them along a journey that ultimately concludes with them ideally deciding to buy from you.
Each business will have its own unique buying journey – for some it may be mostly a digital one, for others, it may involve your people, or perhaps a combination of both. However, the principle remains the same – a shift away from “selling to” your prospects, and a move towards inspiring them to “buy from” your business.
OK…But I really do need more sales!
Assuming that there is a market for your business category – and face it, there is! – your sales figures should be seen purely as a barometer of your audience’s buying behaviour and used to assist you in exploring why your prospects are not buying from you; to identify where the breakdown is in the buying journey pipeline so that you can fix it.
It may be at the beginning of the journey – i.e. your brand and how it is positioned – or, it may be closer to the actual transaction, but if a prospect does not buy from you, there is a reason and this is where the work needs to be done.
Invariably, and perhaps contrary to what your sales team may tell you, you’ll find that it is not a sales problem, but something bigger, something that is influencing customers to stop their journey with you and decide to start another journey that results in them buying from someone else.
