5 tips for sales optimization
Here are 5 concrete ways you can optimize your sales:
1. Start with your ideal customer
Many business owners don't actually have a clear picture of exactly who they are trying to sell to. That is, who their product or service is aimed at. Because while you might be able to sell a pair of chic, fashionable designer sunglasses to a man in his 70s, you're far more likely to close a successful and profitable sale to a woman in her 20s.
Therefore, always create a profile of your ideal customer's key characteristics. This can be anything from buying behavior, economic class, family background, gender, age, motivation to buy, goals in life, and more. The more detailed, the better your sales optimization will be later on. There's nothing more important than trying to sell to the right customers.
2. Good lead generation and warm-up
Before you get customers, you should make sure you get leads. And of course, the right leads. Reach leads that are relevant to you and no one else. Once you've generated good leads, you need to take good care of them. That is, warm them up and get them interested in your product or service. Show them why they can't live without it. It's a balancing act, because you don't want to be pushy, of course, and always remember to keep the customer's interest in mind: What's in it for them?
3. Track and analyze data
Once your sales start coming in, you start building an invaluable knowledge base. Data is important, and your own data is the most important of all. Nothing in the world can tell you more about what works for your business than your existing data. From your data, you can extract a wealth of information and you can perform almost endless rows of tests.
For example, test different lead groups. Based on an isolated factor (e.g. age, gender, interest or finances), which group of leads ends up converting best? Where geographically do you get the most sales?
4. The 80/20 rule
Your sales process can always be optimized. And the 80/20 rule is a great starting point. It basically says that around 80 percent of your profit (in this case: closed sales) comes from 20 percent of your effort (in this case: advertising money, time spent, staff salaries, etc).
The rule also states that you should continuously optimize the 20 worst performing percent of your sales process. This is where your data comes into its own again. Take a close look at the different steps in the process, from start to finish. Where is the biggest waste? Where is the most difficult challenge? Where do most leads fall off?
Leave the top 80 percent performers alone and use the bottom 20 percent to improve, fine-tune and test new avenues. That way, you'll see ongoing sales optimization.
5. Feedback.
Getting feedback is crucial for any business. From customers who have bought from you, leads that have dropped off along the way, and your staff and employees who work to bring in the sales. In sales optimization, feedback of all kinds is absolutely crucial. It's important to listen, because only then can you discover pitfalls, errors or shortcomings.
Start with these 5 tips and you'll be well on your way to effective sales optimization in your business. Also, remember that it's an ongoing process that, in principle, should never end.
