We’re nearly three months into 2015 already!
You might feel like 2015 is slipping away, and that your business is already behind on where you wanted to be in order to make this year your best yet in terms of sales and revenue.
The good news is that it’s not too late! In fact it’s never too late to get everything in order! Here are some steps you should take to get things ticking along.
Set Your Sales Targets for the Year
Have you asked yourself these basic, yet sometimes challenging, questions. If you haven’t, how will you know if you’re on track and whether you ever hit the targets you need?
- How much extra business do you want each month? Set a realistic but ambitious target!
- What is your average sale value? Go back over your recent records to come up with a figure.
- How many new sales do you need each month to hit your target? Is the target achievable?
Work Out What a New Customer is Worth to You
If you keep good customers records (as of course you should) it won’t cost you much to work these out:
- How much profit do you make each year from an average customer?
- How often do they buy?
- How many years do they stay with you?
This will help you determine how much you can afford to spend to find new customers and retain your best ones.
Set Your Enquiry Target for Each Month
To determine a realistic target for this month and the next, an ultimately for your whole year, you need to know your “enquiry:sales ratio”. That is, what percentage of enquiries results in a sale, on average? And therefore, how many enquiries do you need each month to hit your target?
If you think about your past experience you should be able to determine what you had to do, in terms of marketing and sales activities to generate that number of enquiries.
Determine Your Unique Selling Proposition (USP)
Think about your most valuable, profitable customers… They are what we call your “key target market”.
What problems do they have? Are their problems being addressed effectively by your business or are your competitors doing a better job of it? At the end of the day your customers are buying your solutions to their problems.
- What’s special about your business and the products and services you offer?
- What do you offer that’s different?
- Why do customers buy from you and not someone else?
If we’ve worked with you on a Marketing Plan for your business you’ll already have some key messages that express your Unique Selling Proposition (USP). Try to hone those messages down to a single sentence or short paragraph. Use that USP in your marketing materials, online and offline, whenever and wherever you can.
Keep In Touch with Frequent, Quality Communications
Many customers buy one product or service from a company without ever knowing the full range of products and services they offer. It doesn’t cost much to telephone or write personally to your regular customers when you have something to tell them or offer them. They will thank you if you’re offering something of value!
Nowadays, social media, blogs and email marketing make it easy for you to communicate frequently. Are you making the most of these new digital media? We can help you optimise your digital marketing channels and get your marketing communications on track…
Give Information Away to Your Customers and Prospects
Consider putting together an information sheet or leaflet that you can give to people in person, or that you can distribute via email and post on your website and via social media. This sort of free information can also be used to fuel free publicity.
By issuing timely media releases, you may be able to get exposure in the publications that your key target market reads. Getting to know the editorial staff on the publications you’re targeting and be available to create content that they say would be of interest and value to their readers.
Go Forth and Prosper!
We hope these brief pointers give you something to think about as you move forward. If you’re unsure of how to make things happen, give us a call on (08) 8352 3091 or email email@example.com