How to increase the sales of your micro or small business? See 7 tips!

Revenue and, in particular, the profit margin are two essential components for the success of the business. To raise them, it’s worth finding ways to increase sales and improve your company’s business performance.

However, the strategy cannot be based on reducing prices to attract more consumers. For the results to be sustainable for micro, small, and medium-sized companies, it is necessary to go further.

Want to know what to do to increase sales? Check out 7 tips that can help in this process!

1. Know your audience well

Before thinking about promotions or product pricing, it is essential to know who buys from your business. Therefore, to sell more, the first step is to do an in-depth study of your audience.

Understand who the average buyer is and build a semi-fictional persona based on demographics.

Also, understand how your communication reaches people and which market share is most interested in your offerings.

From then on, it is worth identifying what the public’s needs and expectations are. This can be done through market research or by simply gathering feedback from previous buyers.

This data should be used to guide the company’s way of speaking and selling. By being able to better meet the demands of buyers, the tendency is for your venture to achieve better results.

2. Find a commercial differentiator

One of the strategies to increase sales is based on the prominence of competitors. Showing yourself differently from other ventures can make the customer choose to choose you.

For this to happen, it is necessary to find a competitive differential.

Evaluate what your company does uniquely and how you can help customers in a special way. Sometimes, the difference is not a product or service, but the service or experience, for example.

If the business doesn’t have a highlight, it needs to be developed.

Just as important as recognizing what makes your brand stand out is being able to communicate it. Therefore, the differential found or created must be at the center of your communication, favoring conversions.

3. Be present in the online environment

The internet has turned into a great tool to generate sales and get leads. To exploit this potential, it is essential to have a presence in the online environment.

In this case, digital marketing for small businesses is worth thinking about.

This is positive because the initiatives can be cheaper, have more reach and offer a better return. Start by identifying which social networks are worth a presence and consider having a website.

For retail, an online store can increase sales potential. It is also important to have a strategic marketing plan and create an editorial calendar.

One must have consistency, act with authority and attract customers and potential stakeholders.

4. Focus on the customer relationship

The focus of business and commercial management should not only be on attracting new customers and closing sales.

To generate new business, it is crucial to take care of people — and one of the steps is to establish a good relationship with customers.

The idea is to stay close to the public both before and after the sale is made. By staying present even after the conversion, your company humanizes the contact and demonstrates that the customer is more than a number.

Therefore, it is worth building the so-called relationship ruler. It plans what touchpoints should be with stakeholders, customers, and dormant opportunities. Try to plan the contact in different ways.

For example, via email, phone, SMS and other possibilities. It is also important to communicate more than offers or promotions.

Offering tips, receiving feedback and helping the customer, in general, favors a relationship of trust and encourages future returns.

5. Invest in increasing loyalty

According to market research, acquiring a new customer can cost 6 to 7 times more than retaining those who have already purchased from your business.

Therefore, investing in loyalty is a strategy with especially high potential for micro and small companies to increase sales.

The intention is to keep the public close, making people buy again. Therefore, it is necessary to invest in delighting the customer, and generating the best possible level of satisfaction.

When the consumer feels contemplated by the business and has his expectations fulfilled, the chances of him returning (and spending more) are greater.

That’s why it’s important to know your customer base and focus on offering a positive experience capable of convincing them to return.

6. Ask current customers for referrals

Audience satisfaction can also help you increase sales through what is known as a referral program.

The mechanics are to encourage current customers to recommend the services or products to other potential buyers.

To encourage this type of behavior, it is possible to offer specific discounts or differentiated conditions.

It is the case of giving a fixed percentage of discount for purchases made by referral from a certain amount.

However, you can only be successful with the strategy if the customers are satisfied. Thus, it is essential to create the conditions for the public to help you increase your sales.

7. Track competitor performance

As you’ve seen, one of the tips on how to increase sales includes defining and communicating a competitive edge. However, this does not mean ignoring the competition and what has been done in other businesses.

Nor is the intention to copy competitors or base all decisions on what is done externally. However, following up is important to identify opportunities and gaps left by other companies, for example.

It also serves to compare your results and see what works. Thus, it is a solution for those looking for extra information to help them make more effective decisions.

Once you know these 7 tips, you have a clear idea of ​​how to sustainably increase sales over time. Adapt the guidelines to the reality of your company and see how it is possible to reach new commercial levels!

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