Tips To Clinch More Deals

Tips To Clinch More Deals

Following a set playbook might make it even harder to get sales, find new clients or hit targets. With the changing environment businesses need to be dynamic to keep up with the demands of the target audience.

Given below are some tips on how you can effectively sell your product or service repeatedly.

Social Media Is Important

Using social media platforms only for your personal life is naive especially in an era where people turn to the internet to find information regarding a person or a business. Your social accounts must contain information regarding your personal life and your business. Strike a balance between the both these aspects.

Remember to stay away from politics as you are dealing with a large and varied audience. Stay away from any form of negativity and post helpful articles and videos. Always stay consistent and this will bring in more people.

Case Studies And Feedback

Providing proof or evidence has become highly important in today’s world. People often claim to be experts and pretend to be the best. Clients often need evidence and customers today perform a fact checking before they even approach a company.

This is where collecting feedback becomes important. Ask your customers to provide you with an honest review of their experience with your company.  Collect their photos and post their feedback and reviews on your website, blog and social media. Such a case study will help you stand out in your field.

Pricing

People believe that higher prices mean better clients and higher profits. The problem is unless you are providing a high end service and you are a high end brand you cannot charge a really high price.

You need to charge the right price considering your product, your brand, your presentation and the overall value of your work provides. When you are just starting out it is ridiculous to set a really high price. But overtime you can build up your brand and through research you can raise your prices.

Charging the right price at the right time is key in sales. You should align your price with your level of business.

Presentation

Always be at your best and build a solid positive reputation regarding your company. Positive reviews and a brand name will bring in more clients.

Consider the way you are projecting yourself to the outside world. Study what you post on social media. Be aware of social problems and get involved in causes that are dear to you. Be a socially responsible organization that is known for its employee welfare, customer service and overall reputation.

Consistency

Consistency is the key to success. Keep your social media up-to-date and also constancy meet clients and set up meetings. Follow ups is also important. Even though it’s a slow progress, keep moving down the sales pipeline.

With persistent efforts you will see the desired results. Keep doing your best and improve your business process and operations along the way to become the best in your market.

Are Multiple Choices Always Good?

Are Multiple Choices Always Good?

It is often believed that more choices are better. Businesses believe in offering a variety of products ranging in colour and models in the hope that it will attract customers. It is easy to believe that more options and freedom of choice make customers happy but this is far from the truth.

Choices Are Overwhelming

When you give people a multitude of options they become overwhelmed. If at all they do make a choice, they often contemplate about what they had to “sacrifice” or not choose when they made their decision. They wonder if a different decision would have made them happier. This leads to unhappiness and never being fully happy with their final choice.

This applies to buyers as well. When you offer more choices to a buyer, chances are higher that he will not buy anything. Too many options lead to anxiety and inevitably, inaction.

Making a decision is a mentally stressful and emotionally taxing process. Considering the varying factors, while making a choice, makes the entire process even more difficult. That’s why buyers find it easier to say a no than saying yes to any one of the options.

Choosing Should Be Easy

Make the entire buying process simple by cutting down your offers. Give your buyers single choice. It should be whether they should buy something or not. In every scenario you must ensure that the decision to purchase is made simple, easy and quick.

Eradicate and remove all unnecessary factors that might prolong or distress the customer. It most cases, it the vast number of options that scare away potential customers.

Simple Yes Or No

Simplicity of choices must be seen even in your marketing and sales messages. Let people make a simple choice within a limited time period.

This does not mean that you offer a single product every time. Consider your target audience and their budget and income. The idea is to provide three different levels of service to accommodate people with varying budgets and needs. This is also called “Olympic Factor Pricing.”

This is especially important when you are selling high end or costly items. It need not be taken into consideration with cheaper products because more products only complicate the process and the complication is not worth the end result.

Simplification Is Key

Reducing your options can also be applied in your marketing strategies. When you want people to share your content online, provide them with lesser options. Choose one or two of the best platforms that appeal to your audience and do not clutter your site with other icons and options.

The same can be applied for e-mail marketing.  Do not overwhelm customers with innumerable offers and choices through a simple e-mail. Instead, stick to one major offer which the customer will be automatically drawn to.

Keep your homepage and websites relatively simple and user friendly. Do not bombard potential clients with your latest products and news. A simple website will be easier to navigate and let buyers make their decision.

All in all, if a business wants to improve its sales it must take away the customers’ freedom of choice by removing options. This will make customers happier and earn you profit in the long run.

Do You Know When to Pull the Plug?

Do You Know When to Pull the Plug?

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No matter what the causes behind project failure might be, one thing is for sure, it is never easy to stop a failed project. Here are some things that make it hard to kill the project. People will often continue projects based on incorrect assumptions, such as the belief that if you throw money at a problem, it will get fixed. There is a point at which no matter how much you invest, recovery is impossible. Sometimes people are so dedicated to a project that they refuse to accept defeat to the point of catastrophic loss to their project, and company. Here are some tips to know when to kill a project.

1. Project Is Not Delivering Value Anymore

If your project cannot deliver value, it is worthless. You need to focus on value delivering when executing projects. Assume you cannot kill a project that is costing you more than expected for any reason. You will try to justify the additional cost incurred on the project. And this will affect the growth of the company. if it is the other way around and you want your project to be completed inside the budget and you start to cut down corners to keep the cost down. Even if you manage to complete the project within the budget, it will not deliver the same value.

2. Project Is Costing You A Fortune

Cost is one of the most critical constraints in the project management triangle. Completing projects inside the budget is one of the biggest worries for project managers. If your project costs you a fortune, then you should seriously think about dropping it. Holding onto a project that is costing you much more will only prolong the financial loss and as a business, you can not afford it. The best way to resolve this problem is to cut down extra expenses. If that does not work out, end the project.

3. More Important Projects Waiting For Your Attention

With so many projects running concurrently, it sometimes becomes very difficult to give attention to every project. This is where prioritizing projects can help you. Give special attention to projects that have a greater influence on your overall business. Diverting resources efficiently is key to project management success. There is nothing wrong in shutting down a less important project to redirect all your energies towards a more important project.

4. Change in Business Plan and Strategy

The rate at which the business world evolves demands for a change in business plan and strategy. Hence, a project that does not follow your business plan and strategy can never add to your business’s success. Spending time and resources on such projects is a waste, especially when you can redirect them to other projects and get better results. Therefore, It is better to abandon those projects that cannot keep up with the changing business strategy. Knowing when and how to pull the plug is very important for both the success of the business and project manager.

Tips To Launch A Winning Product

Tips To Launch A Winning Product

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A winning product launch gives a head start in sales for your company. It is one of the few opportunities to go from gradual to exponential sales. 

Here are seven tips to achieve a winning product launch:

Matching Product to Market Needs

A winning product launch begins with meeting the capabilities of your product to the requirements of your target market. This is often the domain of a product manager. If you are presenting a new product or service into the market you would be well served by getting out and talking to the potential buyers that your product addresses. Odds are you learn something unique and possibly so enlightening that it could be the turning point in your business.

A winning product launch cannot happen if the market wants a different thing from what you are delivering. 

Study the competition

A detailed competitive investigation based on your research and visits to the target market will help you make key choices. Check for the need to modify your product or service and customize it for that market.

Clear Positioning and Messaging

Positioning is the set of actions you do to place your product clearly in the minds of your buyers. If your positioning is not clear, your buyers and possible partners will be confused.   

Effective positioning is a communication process that makes the benefits and capabilities of your product so crystal clear to your buyers such that they get it without tremendous effort on your part. Your message forms the foundation for all communication to your target market.

Setting Clear Launch Goals

Be particular about what you want to achieve in your new market, including the level of sales you can anticipate reaching.You will not have a chance at a winning product launch if you do not establish clear goals. 

Proper and clear goals frame the purpose of your product launch. Once you have established the goals of your launch you need to consider how they will be measured.  

Priming the Pump

One of the most important tips to a winning launch is priming the pump. Priming the pump refers to all the activities that are conducted to build excitement and create demand for your product before it is generally available to buyers. You can do this no matter how large or small your company or the size of your budget.

Some ways you can achieve this is by involving customer support, though the sales team, your channel partners, executives or by involving industry analysts. 

Time the Launch Event to Maximize Sales

Identify the times and locations that afford maximum leverage and plan your lunch accordingly. Timing a launch can make all the difference in the world. This can be especially true if you launch your products on a global scale.