Right now is a great time to own a small business in the U.S., with optimism and confidence in the economy currently at a 12 year high. This year, 90 percent of online SMBs are expected to grow their revenue. And 45 percent of SMBs expect to improve their revenue by more than 25 percent year over year.
How Small Businesses Can Outperform Competitors
Of course, success is not guaranteed at the SMB level, where competition is fierce. In order to capitalize on favorable market conditions, it’s essential to have an optimized sales strategy. Here are eleven actionable sales tips for SMBs:
Build A Winning Culture
It’s okay to be extra selective when building a sales team. Be very careful about the team members you bring on board, and how they carry themselves. Hire people who are confident, cheerful, and interesting to talk to. If you have the right people in place, you won’t have to worry about building a solid culture. And once you have a winning culture, profits are certain to follow.
Use Automation To Reduce Time Waste
Sales teams often waste a tremendous amount of time on backend labor like reporting and updating contacts lists. These types of tasks, though important, can be streamlined using a cutting-edge sales automation platform. This can allow sales teams to spend more time focusing on important details that can help them close deals.
Integrate Your CRM System
Most sales and marketing teams today are collecting customer data in some form or another, but in many cases, the information is sitting in backend systems instead of being shared across the enterprise. By investing in a phone system with CRM integration, sales teams can do a much better job of sharing and leveraging customer data during interactions.
Support Your Efforts With Content
Content doesn’t just have to live on your blog and social channels. You can also use it to send as email blasts, or even via snail mail. By supporting your efforts with fresh, relevant content you can influence and educate your buyers — and greatly improve your chances of driving sales.
Use Mobile Apps
Sales teams can use apps in a variety of ways. They can be used for internal communications and reporting purposes, and they can be used to interact with customers. You don’t have to build your own solution anymore, either. Now you can either build your own app with a no code platform or consult with a communications provider.
Be Selective About Your Leads
One of the hardest lessons to learn in business is that not all leads are good ones. It’s important for sales associates to understand which leads are worth pursuing, and which will either waste too much time or prove to be less than profitable. If you chase every lead regardless of its potential, your team will wear itself thin.
Be Careful When Reaching Out
Sales teams tend to be more successful when they have plans in place for contacting consumers about products and services. Instead of calling randomly, set up a system and stick to it. By using a data-driven strategy, you can avoid alienating customers and maximize your chances of experiencing strong results.
Reward Your Sales Associates
When business mogul Mark Cuban started his first company, MicroSolutions, he would walk around the cubicle handing out $100 bills to salespeople. Get creative—the better your incentives and the more attainable they are, the harder your sales associates will work to achieve them. Making a small investment like this could go a long way in helping you drive profits. Plus, it will give you a reputation as a great company to work for.
Trust Your Team
A growing number of sales teams are now abandoning the traditional top-down managerial approach, and are instead embracing autonomy and teamwork. This model requires placing more trust in sales associates and giving them more freedom. Of course, teamwork and collaboration are still important for this model. But the end result is a sales department that is happier and more productive — and more profitable.
Provide After Hours Care
The traditional 9 to 5 is a thing of the past. Now, businesses need to make themselves available to customers around the clock. Sales teams can use apps, chatbots, and other digital solutions to answer questions and provide information at all hours.
Find Common Ground
It may not be possible to close on every call, but it is easier to try and agree with the customer on some point before hanging up the phone. Finding common ground can help influence a sale. It’s something to build off of on the next interaction.