Sales Strategy Guide: The Basics of Selling Your Product or Service
You’ve sorted your great new website. You’ve thought of a memorable name and catchy tagline. You know what you’re selling and how much you’re going to make. You even know who you are selling it to (more on that later). The problem seems to be that those people aren’t quite as aware of you as you are of them, which is a shame because the only thing holding you back from succeeding is a proper sales strategy.
The Drawbacks of a Startup Sales Strategy
When you’re a startup, the first thing that springs to mind is going to be marketing. This is how you get your name out there and generate leads, right? However, you can only do as much as your budget will allow, and sometimes that’s just not enough. Especially if you are selling something that can be bought elsewhere. If the competition has a better sales strategy than you (and a bigger budget) then you’re in a bit of a pickle. Money will get you plenty of offline and online advertising. You can run promotions, you could hold a big launch with lunch, you could even contact a PR firm to deal with it all for you. Only very few small businesses have that kind of capital, especially in the very beginning.
This leads us to explain about some other fantastic options which will help you and your brand to be recognised.
Who to Sell To
Firstly, you need to know who your customer really is. Putting together a sales strategy comes much more easily if you have someone in mind to whom you plan to sell. Market research is an essential part of any business plan. While putting in the legwork might seem like an effort, but it will pay off tenfold. Work out what questions you want to ask, stand on a busy street and ask them. It really is as basic as that. In the end, once you’ve spoken to a fair few people, you’ll know who really does want your product. Those are the ones to target. Who knows, it might even work as a little bit of lead generation for your business too!
Spend Your Money Wisely
Now that you know who to sell to, how can you persuade them to buy? Because you have carried out the research, you can now spend your marketing budget in the right way; on campaigns that are going to appeal to the demographic most suited to buying your product. An advert geared towards ladies over 60 is (probably) going to be quite a bit different to one for men in their 20s. Knowing your market makes advertising much easier (and cheaper). Make sure you put together a marketing plan that covers your target audience and ties everything together.
Sales strategy guide: The basics of selling your product or service – Next up: Networking, reviews and picking up the phone…