Sales Growth

You can be the smartest person in the room, but if you are not hungry to do more, give more, to create more. Then are you making the most of your capabilities? As we know, building a successful business is not easy. Generating and managing organic growth is all about investing in capabilities. Those capabilities, for example, could be in yourself or team (continuous learning and development), facilities, inventory, marketing, selling, hiring new talent, research and development or, more likely, some combination of each. However, without that hunger, drive, practical follow-up actions and discipline on how you manage your time - any investments you make will most likely fall below expectations.

💡How many successful entrepreneurs and business people can you list who dropped out of college or claimed they were not smart. But claim their success came from hunger/drive and action?

So depending upon where you sit on the 'hunger scale.' We've compiled this list of twenty-one ideas to make your life easier. Either as a quick validation guide to what you may already be doing or spark something that could move to prompt action and results. 

Before you dive in, here are some suggestions on how you can get the most out of this article:

1. If you are starting in business - as an owner or at an early stage of your career. Suggest you read the article - start to finish.
2. If business acumen and experience is something you would describe as 'proven.' Then suggest you skim the headlines of each idea, only picking out those of interest (either as a point of validation or from a potential to implement standpoint.)

Nothing on the list of twenty-one is a breakthrough. However, all are proven to increase your chance of sales growth success if applied effectively.

Check out the list below:

#1: SEO Growth

Ranking for your target search term through search engine optimisation is the most cost-effective way to increase sales from new customers. Ensure that you optimise your product/sales pages to ensure that you get the best results possible! 

Social Media

You can also use social media to attract your target audience and then convert them to purchase. By having an active social media page that posts content regularly, you can draw your target audience and, from there, get someone to make a purchase. For ideas on how to make this happen, check out the post' 7 Simple Ways to Drive Sales on Social Media [With Examples]' 

#2: Online Discount Codes

Discount codes are a powerful way to encourage new customers to make a purchase. These codes are a simple and effective way to get people to take the plunge. So, send out discount codes to your email list! It can be the little thing that can tip someone debating whether to purchase to taking action. 

If you don't have an email list, post it on social media or your site's homepage banner. Wherever you have an audience—no matter how small—or wherever traffic lands on your site, make sure your discount code is there.

Do you need support in setting up your discount codes or promotional coupons? Try voucherify to enable you to build personalised coupons, discounts, referral, and loyalty campaigns faster.

#3: Word of Mouth Marketing

One of the most effective marketing strategies is knowing how to attract customers by word-of-mouth. However, what will get people excited in their circle and make a story spread far and wide? Why do some stories travel like wildfire while others flounder? What makes online content go viral? Wharton marketing professor Jonah Berger has spent a large portion of his career researching the answers to these questions. 

Professor Jonah Berger's believes six factors (STEPPS model) are the drivers which can make content go viral. These factors are: 

1. Social Currency - people care about how they look to others
2. Triggers - top of mind, the tip of the tongue
3. Emotional - when we care, we share
4. Public - built to show, built to grow
5. Practical - is the news something you can use
6. Stories - good information travels - how great stories are like trojan horses.

Not only is word-of-mouth the most effective sales strategy to grow your revenues if executed in the right way. But it will also have one of the highest returns on your expenditure/investments in marketing.

#4: Affiliate partner programme

From our perspective, Wikipedia does an excellent job of providing an in-depth outline of answering everything around What is Affiliate Marketing? 

Consider affiliate marketing through the lens of four stages - each stage needs to be thought through upfront - especially stage four. However, the chances are you will fine-tune your affiliate channel and your partner(s) over time.

The first stage is generating traffic. From your perspective, you will want a captive audience (ideally primed to buy.)You're going to want an audience that is ready to buy. Selecting a relevant affiliate partner for your product or service is important.

The second stage is capturing traffic. If your affiliate partner is doing a great job of bringing good quality traffic to your site, how do you effectively engage that audience on your site to make the sale?* Depending upon the terms (technical and commercial) of the set-up with your affiliate partner.

The third stage is following up the traffic. Without a well-planned follow-up strategy, leads are likely to wither and die. *

The fourth stage is to make sure you have an effective and timely way to reward your affiliate partner for the sales they help you generate. Therefore, establishing the rate and terms (technical and commercial set-up) of your scheme before reaching out to any potential partners is essential.

Increasing your sales through an affiliate is a great way to reach potential customers. 

As outlined above, while your affiliates do most of the marketing work, you need to consider all four stages above to ensure the prospects you get convert into sales. 

Set up the scheme and channel right (especially with some automation). Then, not only will you be rewarded with growth, but you can also focus your energies and time on other growth strategies.

#5: Abandoned shopping carts

Research shows that an average of 68% of customers who add items to their online shopping carts abandon them before completing the purchase. Use a shopping cart abandonment follow up campaign to capitalise on this behaviour. You could significantly boost your shopping cart conversions and generate higher sales revenues from your online store.

#6: Welcome Email

 

You'd be surprised what an excellent welcome email can do! Someone's already made a significant investment in your business, so show them you're committed to the relationship with a relevant and personalised email. 

Your welcome email also gets a 86% higher open rate, which means anyone who has signed up for your mailing list or purchased from you will be much more likely to read future messages.

So how do you write a great welcome email? To get started with the right tone between you and your new subscriber/customer, then make sure you address the following as a minimum:

1. Show your appreciation - say thanks!
2. Say: Do ratio of 100% - if you've made commitments - deliver!
3. Add value
4. Start Building Trust with your Brand

#7: Email Newsletters

The first email marketing campaigns surfaced in the 80s. In the late 90s, the average click-through rate was 0.33%. Fast forward more than 20 years, and we now live in an era where it's standard practice to get 50+% open rates and 10+% click-through rates for inbound marketing emails. If you're not regularly sending out email newsletters, you're missing out on potential revenue. For instance, link products your audience might like, alert them to new releases, including a promo code at the bottom of the email, or ask your subscribers to respond to the email with any questions they might have about your products.

Here is a good resource to expand on this opportunity and make sure you've got the basics covered.

#8: Get more sales, more often

Of course, it makes sense for you to retain existing customers instead of the costly stream of acquiring new ones. Existing customers also bring in a significant portion of the revenue. A study has shown that existing business can generate more than 40 per cent of the sales revenue for a business.

A good way to stimulate growth from existing customers is to:

Customer loyalty programs

Once your customer is aware of your brand, remind them of the features and benefits it provides, why it's superior to other similar products, and how they can benefit from it. A great way to do this is through a loyalty program that you can use to reward repeat purchases, but you need to be careful not to overplay your hand with the approach. Otherwise, customers will become irritated or look elsewhere for their needs. The key is understanding when your customers are going through the "Purchase Cycle." Then using targeted post-purchase messaging and content to keep them on track with their purchase decision rather than on getting them through the entire cycle upfront.

In the event, you would prefer not to build a specific loyalty program. Then consider that customer loyalty is about creating and delivering (every time) the service and customer experience that makes an emotional connection with your customers. Here are seven ways customer loyalty pays back for your business.

#9: LinkedIn: A powerful strategic sales tool

Image Credit: hocus-focus

There are a few ways to grow sales on LinkedIn. These include advertising, content writing, personal and company branding, leveraging groups and applying various outreach methods alongside other growth hacks.

It can benefit both inbound and outbound processes. The platform allows you to target professionals from specific industries, locations, and job titles, so it's easy to find whom you're looking for, whether you're prospecting or trying to identify new leads.

When you use their paid marketing solutions, you can set a bid amount on both impressions and clicks, giving you some control over how much you'll pay for your ads on the platform.

Before you invest money on the platform, ensure you've got the foundations in place, such as having a strong LinkedIn profile set up - both personal and company.

Overall, LinkedIn is an effective tool for increasing your business sales and building stronger relationships.

#10: Google ads revenue

Image Credit: Brightstarts 

Google Ads are a great way of getting to the top of Google's SERPs as they let you target keywords and focus on specific demographics, meaning that your message can reach people who are likely to be interested in it. While running Google Adverts can be time-consuming, they result in high conversion rates, and you should try them with your business.

#11: Blogger and Influencer Reviews Are Like Word-of-Mouth Advertising on Steroids

There are seven reasons why you should get your products reviewed by bloggers in your industry. 

1. A blogger review of your product will instil trust in your potential customers. 

2. By having a blogger review your product, you're marketing to people already interested in the same product. 

3. People will see your product and think to themselves, "Hey, this was reviewed by a blogger! The product must be good!" 

5. When bloggers take a particular product to social media, the people in their feed will click on the link, which will lead them to your product. 

6. Social media can help spread your product at a high rate. After just one prominent blogger review, your product could reach thousands of people within a few days. 

7. If you are lucky enough to have a blogger review your product, it can increase search engine rankings.

Search for suitable bloggers in your niche and ensure they're high quality before inviting them to your event. If you'd prefer someone to curate your bloggers for you, you can try Grapevine Digital or GleamFutures in the UK.

#12: Build a fanbase on YouTube and grow sales without advertising

Image Credit: pressureUA

Many businesses feel that they need to advertise on YouTube, but this isn't true. If your product is fantastic, you can reach out to influencers to get them to create a video discussing or reviewing what you're selling—getting your product reviewed on YouTube can result in multiple views without you even advertising.

 

#13: Use Popups and Opt-In forms as an effective way to convert a visitor into a customer

Popups are one of the most effective ways to convert a visitor into a customer! They can provide a different experience to your online visitor, and so many big brands use them because they get results. 

Popups are particularly effective to entice first-time buyers to take the plunge (offer a discount!) or to keep those customers who are about to abandon their cart on your site. Therefore, if you want to use popups to gain more clicks, subscribers and sales for your business, then check out this excellent provider, sleeknote.

#14: Create Lead Magnets, so your audience finds it easy to say YES! 

The idea of a lead magnet is pretty simple. These are things you offer to your readers in exchange for their information. It is one of the best ways to create a lead generation source that allows you to grow your email list and get more customers consistently. 

If you don't capture the attention of your audience right away, they will click away. You want to offer something attractive. Sure, your potential customers can naturally be afraid of being spammed; that's why it is essential to provide each prospect with enough value to overcome the fear of being spammed or the fear of missing out (exclusive content, early access, etc.)

#15: Hold a meet-up and make some sales revenue in the process

Meet-ups are a great way to generate revenue. It's a fact – we all know people buy from people. However, we all understand the impact Covid-19 has made on face to face meetings with customers and prospects. 

The number of ways to build a network has evolved and will continue to do so. Virtual summits, face to face exhibitions, industry and local business events. We will naturally have to adapt to a world where both the virtual aspects of meet-ups and face to face selling coexist. Check our blog 'How can virtual selling coexist with face-to-face selling?' for more information.

#16: How "Giving It Away" Can Help You Make Money

Giving away products for free is part of the growth hacking process (link to gloo's growth hacking blog). It's a process used to get new customers, engage existing ones, and create brand awareness. In 2015, Sean Ellis of Qualaroo used this tactic to help his company grow. He hosted a hackathon where he offered his product for free. An overwhelming 11,000 people signed up. If you think about it, the hackathon was a brilliant idea. It gave Qualaroo more exposure and allowed potential customers to road test their product before increased sales conversions.

#17: Effective way to get some extra sales: Post or hand out promotional flyers.

Image Credit: pressureUA

There are many ways you can generate new sales for your brand in the modern age. We've already covered 16 strategies so far that are all worthwhile. Although potentially viewed as old school. One of the best ways to get a sale is by using a tried and tested method: handing out sales/promotional flyers. (NB: You can put them in your parcel shipments too!)

#18: Hey! SMS Marketing Is an Effective Way to Get Sales

Mobile phones have become a vital part of peoples' lives and especially their working lives. And it's only going to get more critical with time as internet usage on mobile grows every year and even faster than laptop and desktop use. So, if your product is sold online or over the phone (or both), it makes sense to have an email list and develop a promotional strategy on mobile devices. In short - grow sales through SMS Marketing! 

SMS marketing is a cost-effective way to reach customers. Because almost everyone in the world owns a mobile phone, and because sending text messages costs very little compared to other forms of promotion, this form of communication is growing more and more popular.

A common misconception is that SMS marketing is only for businesses that need to connect with consumers locally. But, lots of companies have realised that they need to reach the people at an emotional level. Raising customer satisfaction and loyalty are both critical factors in building better experiences for your business to grow. SMS allows you to connect with your customers at a more personal level. By sending timely messages, you can show them that you care about their needs, wants and desires, which keeps costs down dramatically as the message has been tailored directly towards their particular needs or concerns. Check out simpletexting  if you would like guidance or support with your SMS Marketing requirements. Other alternatives are ClickSend and TextMagic.

#19: Local business marketing, how to earn more visibility and boost your sales

Local press publications and other local brands can drive brand awareness for your company. By getting featured in local newspapers or publicly consumed magazines, you can help climb up the rankings on Google and earn more visibility for your business. When people search online and find positive mention of your brand, they are more likely to trust and align themselves with your company. These referrals apply even to business reviews that you leave on third party websites like Yelp, Yellow Pages, Google+ Local, etc. What's more, these types of mentions will also boost the trust of your brand from people who see it shared or read about it in their favourite publication or website.

#20: Offer a money-back guarantee to increase your sales

Money-back guarantees are excellent for increasing the amount of converting traffic by reassuring the customer that they can purchase without any risk. Common conditions include customer satisfaction with the product, price match, etc. Even with the incredible value of responsive service, a money refund policy you follow to the letter builds trust and peace of mind in customers who buy from you.

#21: Virtual Summit

Virtual summits are an excellent opportunity for you to profit from an online event, grow your following, and increase your expertise.

What is a Virtual Summit?

A virtual summit is a conference that you hold online where you and other experts in your niche share your expertise with your audience. Hosting a virtual summit can be beneficial to you in a few key ways:

o Grow Your Audience

o Grow Your Email Subscriber List

o Earn Money Directly

o Save Money on Conferences

o Connect with People in Your Industry

o Build a Relationship with Your Audience

Whether your goal is to grow your audience, build an email subscriber list, make money, save money, or purely connect with people in your industry. The first step is to clarify your goals and decide what you want from your summit. After that, it is vital to start planning your summit about 3 to 4 months in advance.

If you want to make money, we've offered five ways in this related post. 

Knowledge is only power if you use it

So there you have it! Twenty-one sales goals to get your business rocking and rolling. If you do these regular enough, you'll start a proper, scheduled process where these sales strategies and tactics will become part of how your business operates.

Achieving growth and making it stick is a disciplined process. 

Implied or otherwise, creating good content is a common thread in this post. Your content is the most important touchpoint between your brand and your customers. Therefore, optimising your content impacts directly your Customers Experience.

Constantly innovate, test and learn new things to outpace your competitors. If you do, then this post has reached its goal - more profitable growth that sticks!

Remember to review your productivity and results along the way. If it works - keep it; if it doesn't - kill it quickly. See our related post 'When Growth Becomes a Waste of Your Time (Hint: When You Don't Have Any)'