Posted: Tue 18th Jan 2022
The first quarter of the financial year (Q1) is here again. Now’s the time to make a positive impact on your top line.
We asked three School of Sales trainers for their top tips on how small businesses can increase their revenue over the coming months. They are:
Read on to find out what the trio recommended...
Paul Durrant, PDT Sales Consultancy
Here are my top seven measures and techniques that should help you boost your revenue.
Do a gap analysis of what all your customers have bought from you and what they haven’t. This should throw up some opportunities for cross-selling (when you sell additional products or services to an existing customer).
Do reviews with your customers (especially the regular ones) to remind them what other things you sell.
Think about offering customers who want to place an order an incentive to buy more of what they’re ordering. In other words, upsell.
Launch a referral scheme (if you haven’t already) to give your customers, suppliers and business associates a reason to push new sales leads your way.
Go through your pipeline of sales opportunities and see if you can help any of the stalled ones over the line – with a further inducement/incentive.
Revisit opportunities you’ve lost previously to see if those potential clients’ needs have changed (or if the person who told you originally has moved on from that organisation).
Do a marketing campaign, using a seasonal message or special offer-type theme.
Catherine Erdly, Resilient Retail Club
Q1 is a really important time for small businesses, so here are three key things to consider.
Know what you want your sales target to be. Setting yourself a sales target can help you really clarify what you’re aiming for and give you something to focus your energies on during busy times.
When planning out your first quarter, make sure you know exactly what marketing activities you’re going to be doing each week to drive sales. Is it social media? Email marketing? Blog posts? Co-ordinate all those elements to have the biggest possible impact.
Always put yourself in your customers’ shoes. Concentrate on what they need in their first quarter.
Rosie Davies-Smith, PR Dispatch
Make sure you’re visible. People will be actively looking for businesses and products online so make sure consumers can find you.
Potential customers make their buying decisions much more quickly now. Once you’ve captured someone in your sales funnel, it’s much easier to sell to them. Get people at the top of your funnel and turn them into customers now. You’ll achieve this by focusing on your marketing/social media, paid ads and PR.
Don’t forget to capture sign-ups on your mailing list. You shouldn’t underestimate the power of email marketing, especially during Q1. It’s an excellent channel to keep potential customers engaged.
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