How can you avoid the big sales banana skins?
The selling of goods and services requires a plan. We have already discussed how to create a sales plan. Now it’s time to look at the pitfalls in creating one. Just as having no plan is a bad idea, having the wrong plan causes its own set of problems.
In this article we will:
List a set of common sales strategy mistakes
Talk through how you can avoid making them
1. Not using a range of sales channels
Deciding on one sales channel and sticking with it sounds like an easy option. And it certainly is easier, if you are prepared to lose out on swathes of sales. Omnichannel retail isn’t a choice made by retailers, it’s a demand made by customers – driven by their desire to shop in a range of different ways.
If you refuse to acknowledge this you risk falling behind you competitors. A website, mobile site, social media and marketplace – these are all channels which you need to consider serving.
2. Targeting the wrong customer
When you are choosing products to sell you probably have an idea of your target market and how to reach it. These assumptions need to be backed up with research. Look at what your competitors are doing, speak to your manufacturer and scour the internet to make sure you have the right audience in mind. Getting this wrong will throw off the success of your entire sales strategy.
3. Sticking rigidly to your plan
Being nimble is an essential element to success in business. What is right one week might not be right the next and you need to be able to read the signs to move with the market. What feedback are you getting from your sales teams? What are the analytics telling you? Your plan should constantly updated to make sure you are getting your focus right.
4. Making is a one way process
Your sales strategy involves you talking to your target audience. But occasionally your audience will talk back. Make sure you are you listening to the feedback from your customers wherever they choose to contact you from – social media, live chat, comments on your site. Not listening will lose leads.
5. Prepare for growth
You sales strategy is aiming for high sales and big growth but can your business handle it if it comes? Will your site crash if it gets a spike in traffic? do your sales team know how to handle multiple orders? These are questions you need to ask yourself and plan for in the strategy.
6. Not cross-selling?
Cross-selling is an effective way of boosting sales by increasing the value of existing sales. An engaged and interested shopper is likely to spend more than someone you haven’t drawn onto your site yet.
7. Skipping channel research
Each of the channels you will be using to sell your products through require a full understanding to got the most out of them. Throwing yourself and your brand headfirst into a Etsy or Facebook without grasping their nuances is a mistake which you might pay for down the line.
8. Forgetting about budgets
Using these extra channels will cost you. They might involve an initial investment, an ongoing fee or take up a lot of time. Whatever the costs are and how they come you need to keep on top of them. Don’t blow budgets for no good reason.
great article. I agree a lot of startup businesses do not have a proper business plan, and often do not perform sufficient research before they jump into it.