Sales Strategies For Growth (Week 2)
It's a powerful question that every entrepreneur must consider: What makes your product or service the preferred choice for customers? In this episode of the Women Choosing Growth podcast, Tina Sue continues her series on sales strategies.
Tina discusses the importance of using diverse sales channels in the digital era, highlighting the need for both online presence and offline channels like physical stores, depending on the business type. She stresses understanding the target audience, using analytical tools for data-driven strategies, and monitoring competitors to tailor approaches effectively. Social engagement is also pivotal, with businesses encouraged to use social media and online communities for better understanding and addressing customer needs, while also emphasizing the importance of analytics in strategy refinement.
The significance of expanding the sales team at the right time is explored, such as when leads become overwhelming or sales aren’t a personal strength, focusing on hiring individuals who align with the company's values. Tina also highlights the role of technology in sales, advocating for CRM systems and sales automation to track prospects and enhance sales processes. Additionally, networking and building relationships through industry events and online engagement are presented as key strategies, along with the importance of collaboration with parallel industries.
This episode also discusses pricing strategies, stressing the balance between profitability and market competitiveness. Tina introduces an 80/20 rule for pricing, where a higher than 80% acceptance rate may indicate underpricing.
Ready to elevate your sales game? Tune in to the full episode for valuable insights and actionable strategies.
What You’ll Learn in this Show:
- The importance of balancing online and offline sales channels in today's digital age.
- Why knowing where your target audience spends time can significantly enhance your sales strategy.
- How defining your target audience and using data analytics like Google Analytics can sharpen your sales approach.
- The role of social media in engaging potential customers and addressing their needs.
- The importance of hiring team members who not only have the skills but also align with your company's core values.
- The 80/20 rule for pricing to balance profitability with market competitiveness.
- Balancing lead generation with the capacity to deliver quality products or services.
- And so much more!
