For SMEs, having strategies to increase sales is key in their day to day, if they want to prevail over time and overcome the competition, as well as grow and forge strength in the market.
According to data from the 2021 Business Demographics Study, there were a total of 1.6 million businesses in the country that had to close their doors, compared to 1.2 million that started activities. It is a figure that can be reversed, and one of the ways is by boosting profitability and implementing different sales strategies for SMEs that can help.
10 sales strategies for SMEs
1. Know your target market
The basic thing is that you know who you are talking to and how you should talk to them. Research everything about your target audience, so that you capture their interest and consider buying your products or services.
2. Know the product or service you sell
Although it may seem obvious, one of the main challenges in a business is that you need to know very well what you offer, who can benefit, what are its advantages, and what makes it better than other products that may be similar.
3. Know your direct competitors
Locate businesses in the same category, find out what they offer, how they offer it, the prices they manage, and locate areas for improvement so that you can apply them in your company.
4. Offer something different
Derived from the previous point, once you know the competition, you add an improved product, service or experience. Always offer something that sets you apart from the rest.
5. Make use of broadcast channels and invest in them
If your target listens to the radio, invest in radio, if you are more into social networks, use them and run advertising campaigns through Twitter, Facebook, Instagram or TikTok. Have a presence on the channels that your target audience consumes.
6. Expand sales channels
Try to make agreements with stores that can offer your products, and develop a website to enter the field of electronic commerce. This will expand your presence beyond a physical point.
7. Ask for feedback and offer post-sale service
Ask your customers how their experience was, if they would recommend someone else come to your business, and provide post-sale follow-up on the product or service you have sold. So the client will see that there is interest in him.
8. Build a work team
You may not require it at first, but as your project grows you will need the support of more people, so that said growth is sustained.
9. Offer something extra
As part of the strategies to increase sales, you can consider a complementary service, a good presentation, offer samples of your products or give promotional coupons, all of this is a plus that is well valued by people.
10. Seek to retain your customers
Offer your most loyal customers special discounts, a points program or some promotion. Whatever you can think of that can keep them happy with your business, and that represents a situation where everyone wins.
Pymes Capital to boost business growth
Much of the above can be achieved by having financing such as Pymes Capital, which offers you resources that you can pay with a percentage of the sales achieved. In this way, the better performance your venture has, the faster you will finish paying.
Investing in your sales and paying for financing with them is a good strategy for your business, which you can achieve with Pymes Capital, with its MCA financial product, so that you have immediate capital and make your project prosper.