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7 Ways to Increase Your Sales 10X

Master the art of selling with these tips and increase your sales 10X
Master the art of selling with these tips and increase your sales 10X
increase sales

All businesses thrive on their sales growth to succeed. In fact, modern-day entrepreneurs swear by the 10X rule to increase sales. Because the rule of thumb in any business is that if you can’t sell enough, none of your labour matters. This holds more significance in the post-Covid world as global economies are still reeling under the impact of the pandemic.

A 2020 Sales Insights Lab research states that 61% of salespeople are finding it much harder to sell now than in the past years, while 54% say that it’s now much harder to get in front of prospects. Therefore, entrepreneurs are looking for vetted and new ways to increase sales.

However, before we discuss how to increase sales, here’s a quick refresher on the 10X rule coined by American entrepreneur and best-selling author Grant Cardone.

Now, onto practical ways to increase sales 10X:

#1 Relationship Selling

In the digital world, every place is your marketplace. While this signifies more opportunities, it also means more competition. That is why the relationship a brand builds with its customers holds the key to successful selling. Mark Cuban, the renowned entrepreneur, vouches that being nice is a valuable business lesson.

While you/your team may have designed the best product or service for a customer, the customer may not take a chance unless they can trust you.

selling

A 2020 LinkedIn State Of Sales report acknowledges that 88% of buyers describe the salespeople they do business with as “trusted advisors.” So, whether you’re a novice or an expert businessperson, be sure to ‘sell’ yourself before you talk business. That will help you increase sales 10X.

You could start with a simple newsletter. For example, Ankur Warikoo, entrepreneur and public speaker, is known for his endearing newsletters laden with anecdotes and experiences.

Another option: host a live gathering or an ‘Ask Me Anything’ session with your community on social media. Allow your existing and new customers to know you before asking them to give your products or services a try. That is how a relationship is nurtured. This sustained relationship will foster customer retention.

#2 Body Language

The LinkedIn report also states that 77% of salespeople are holding more video meetings. As per the same report, the reliance on emails and phone calls has increased since the pandemic. A surprising detail from the Sales Insights Lab research is that 41.2% of sales staff feel that the phone is the most effective sales tool at their disposal. Be it the body posture in a virtual meet or tone of voice in a call, the emphasis on body language is essential.

tone of voice in selling

Remember to acknowledge the customer and their opinions even when things don’t go as per your plan. The cold scorn in the tone of one’s voice over a phone call when a customer declines an offer or the lack of eye contact in a virtual meeting can seem disrespectful to a customer.

A positive body language not only helps you end the meeting on a good note, but it also offers you a window to approach them nicely one more time! You may find this piece on using body language for sales helpful.

#3 Innovation in Business

Even for a startup, it is wise to have a decent range of products or services that can cater to a sizeable target audience. But innovation isn’t just about a variation of the same product or service. Thus, before you innovate, ask your customers what they want newly or what problem they wish is solved. Also, ensure that you ask as many relevant questions. And then, listen intently when they speak in the form of complaints, queries, feedback, or suggestions.
innovation in salesInnovation could also mean redefining customer experience. Why? A seamless customer experience will improve customer retention rates in addition to helping acquire new customers. With every modification, assess if it piques your customer’s attention towards your brand or not. Take cues from these companies known for their innovative customer service.

Even for a startup, it is wise to have a decent range of products or services that can cater to a sizeable target audience. But innovation isn’t just about a variation of the same product or service. Thus, before you innovate, ask your customers what they want newly or what problem they wish is solved. Also, ensure that you ask as many relevant questions. And then, listen intently when they speak in the form of complaints, queries, feedback, or suggestions.
innovation in salesInnovation could also mean redefining customer experience. Why? A seamless customer experience will improve customer retention rates in addition to helping acquire new customers. With every modification, assess if it piques your customer’s attention towards your brand or not. Take cues from these companies known for their innovative customer service.

#4 Leverage your Digital Imprint

A McKinsey report confirms that digital sales in the retail industry grew by 25 per cent in two weeks in March 2020. It shows that even in a post-pandemic economy, it’s wise to double down on digital. Small businesses must leverage the digital marketplace and generate sales leads.

social media

Some things you can do:

⮚ Optimize your profile on the Google My Business listing by filling out all relevant information, seeking customer reviews, and building a library of frequently asked questions.

⮚ Invest in an optimized website that will ensure great customer service and serve as a Sales funnel for increasing digital sales.

⮚ Establish your presence on relevant social platforms like Instagram, Facebook, Twitter, LinkedIn, etc., as social commerce is touted to be a gamechanger.

⮚ Promote your deals and new offerings on social media.

⮚ Engage in opt-in email marketing like Mailchimp, etc.

⮚ Optimize your website/app for mobile use.

⮚ Include a call-to-action in relevant messages on all your key communication channels.

The digital space is not only a means to generate sales leads. It is a wide playground that offers the potential to market your brand, build a community, and identify loyal customers with whom you can share exclusive promotional deals. This Forbes article presents compelling stats on the significance of digital transformation in customer experience. In other words, go digital and go deep.

Some things you can do:

➢ Optimize your profile on the Google My Business listing by filling out all relevant information, seeking customer reviews, and building a library of frequently asked questions.

➢ Invest in an optimized website that will ensure great customer service and serve as a Sales funnel for increasing digital sales.

➢ Establish your presence on relevant social platforms like Instagram, Facebook, Twitter, LinkedIn, etc., as social commerce is touted to be a gamechanger.

➢ Promote your deals and new offerings on social media.

➢ Engage in opt-in email marketing like Mailchimp, etc.

➢ Optimize your website/app for mobile use.

➢ Include a call-to-action in relevant messages on all your key communication channels.

The digital space is not only a means to generate sales leads. It is a wide playground that offers the potential to market your brand, build a community, and identify loyal customers with whom you can share exclusive promotional deals. This Forbes article presents compelling stats on the significance of digital transformation in customer experience. In other words, go digital and go deep.

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#5 Influencer Marketing

Social media is inundated with influencers of varying levels of popularity, i.e., social influence. Instagram is where you’ll find most of them. For an up-and-coming brand, getting an influencer on board for social media marketing can be challenging. However, you’ll still have the luxury of word-of-mouth marketing on social media from your existing customers.

Instagram Influencer Marketing

It’s easier to sell to an existing customer than a new customer. So run regular promotions, give them personalized recommendations, and seek feedback to win them over. They’ll bring more organic customers for you.

An Accenture case study highlights that 75% of consumers are more likely to purchase from a company that knows their name and purchase history and recommends products based on their preferences. However, another stat from Accenture reveals that 33% of consumers ended their relationship with a company when the company didn’t personalize the experience enough.

These indicate that existing customers have the power to increase your digital sales through repeat purchases and promote them to others. But only if their experience has been seamless (so, read our tip #1 again).

#6 Co-Branding

Look at co-branding as an opportunity to increase your visibility and generate sales leads from new channels. Plan them for special occasions or turn something ordinary into a special campaign with a clear, creative strategy. To indulge in co-branding:

⮚ Team up with another business that aligns with your values and target audience for cross-promotion on social media. It gives you access to a group of new customers

co branding coca cola mcdonald

⮚ Organize giveaways through fun contests/hashtag challenges. This is why you see brand posts asking followers to like, follow, comment and even tag friends to win contests

⮚ Offer joint discounts

⮚ Collaborate for physical or virtual events/webinars

⮚ Guest collabs (guest post on another brand’s website or blog, release a special guest episode of a podcast, social media takeovers, etc.)

⮚ Release limited edition souvenirs

If you’re a startup and haven’t received a favorable offer from the big players, don’t put your co-branding plans on hold. Instead, keep up with the co-branding through peer-sized brands and keep knocking on those big doors with the right deal. We’ve got your back if you’d like some real-time examples of successful co-branding. Here you go!

Look at co-branding as an opportunity to increase your visibility and generate sales leads from new channels. Plan them for special occasions or turn something ordinary into a special campaign with a clear, creative strategy. To indulge in co-branding:

➢ Team up with another business that aligns with your values and target audience for cross-promotion on social media. It gives you access to a group of new customers

co branding coca cola mcdonald

➢ Organize giveaways through fun contests/hashtag challenges. This is why you see brand posts asking followers to like, follow, comment and even tag friends to win contests

➢ Offer joint discounts

➢ Collaborate for physical or virtual events/webinars

➢ Guest collabs (guest post on another brand’s website or blog, release a special guest episode of a podcast, social media takeovers, etc.)

➢ Release limited edition souvenirs

If you’re a startup and haven’t received a favorable offer from the big players, don’t put your co-branding plans on hold. Instead, keep up with the co-branding through peer-sized brands and keep knocking on those big doors with the right deal. We’ve got your back if you’d like some real-time examples of successful co-branding. Here you go!

#7 Sell the Benefits

Every product or service intends to give its users several benefits. So, your brand communication must reflect those benefits across all channels. Through your brand communication, convince the consumer how the product or service eases existing pain and offers more rewards.

Features Tell Benefits Sell

 Source: www.premlarshop.com

Research says that the budget is the most common reason for stronger sales opportunities to fall apart. In such cases, give the customers more ways to experience the benefits upfront within a reasonable budget. Some effective strategies are:

⮚ to create packages or deals with varying benefits (in different price points)

⮚ to offer a virtual/physical demo and follow it up with a chatbot/representative for queries

⮚ to offer a free trial for a limited period

⮚ to create urgency by enforcing a time limit on exclusive offers

 Source: www.premlarshop.com

Research says that the budget is the most common reason for stronger sales opportunities to fall apart. In such cases, give the customers more ways to experience the benefits upfront within a reasonable budget. Some effective strategies are:

➢ to create packages or deals with varying benefits (in different price points)

➢ to offer a virtual/physical demo and follow it up with a chatbot/representative for queries

➢ to offer a free trial for a limited period

➢ to create urgency by enforcing a time limit on exclusive offers

Once they see the results, the price may not be as much a deterrent. To keep them hooked on the benefits, you can recommend that they sign up to your newsletter for privileged information on upcoming deals.

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Congratulations! You have successfully read the 7 tips that will increase your sales 10X. For those who know us, this is time for a bonus tip.

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Congratulations! You have successfully read the 7 tips that will increase your sales 10X. For those who know us, this is time for a bonus tip.

For those who know us, this is the time for a bonus tip for sticking with us till the end.

#Bonus Tip – Self-Analysis

key performance indicators

Self-analysis is crucial for any business looking to increase its sales. An honest evaluation will disclose what areas the business is doing well in and what areas need improvement. Every brand must determine its key performance indicators (KPIs) to track progress. Unless it is measured, it cannot be improved. For small businesses, revenue, customer retention, cost of selling, etc., are a few good metrics to start tracking. Here’s a detailed guide on metrics you can implement.

 

Conclusion

Conclusion

A smart businessperson is quick in spotting a viable sales opportunity. So, look around and see what areas you may be missing out on for your product/service. Then, follow the 10X rule when setting targets and planning actions. As much as sales is an individual game, it is a team game. Check out these stats on consumer behaviour and prepare, as a team, to increase sales 10X.

Hope you liked these practical tips to increase your sales 10X.

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Tarashme is a blogging website for entrepreneurs. It provides practically useful content that helps them to accelerate their growth.

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