The ultimate goal of every business is to boost sales and increase profitability. In today’s digital era, the business landscape is changing at a very fast pace. The changing business environment spells a great challenge and opportunity for Value Added Resellers. To have a competitive edge in today’s highly evolving digital space, VARs need to do more than just simply offering services. Communicating value is an essential aspect of capturing leads and increasing sales opportunities. Figuring out how to increase sales is a tricky task. To regain your upward mobility, VARS need to focus on effective strategies that will help improve your brand recognition, customer base and profits too.
Here are some strategies that will help drive customers, sales, and profitability.
- Understand your target persons
The first key is to understand your customers well. Identifying and understanding distinct niche target audiences is of great importance. The most important insights come from understanding buyer personas. This will help you target the right people. Several factors play a role in the buying decisions of a customer namely age, gender, demographics, etc. So try to figure out buyer personas by asking specific questions such as who would most likely to buy your product? Which people buy it immediately? What drives their buying decision and so on. Enlist all the benefits that the customers would relish while using your offerings.
- Merchants Buy Benefits
Rather than buying products, merchants intend to buy results that the product will offer them. Therefore, instead of just adding value to your product, VARs need to focus on communicating the value and benefits than the features. VARS need to make the audience understand how all these features will be valuable for them. So clearly portray what you want to sell, in a way a customer wants to buy it. Simply put, develop your competitive advantage.
- Upsell and Downsell Your Knowledge Commerce Products
Upselling is everywhere. It is a strategy to sell a superior, more expensive version of a product that the customer already has or is looking for. Down-selling means an exact reversal of upselling and still it is beneficial. Simply put, if a customer is not willing to buy the product you want to sell, suggest some cheaper alternatives. Surely, higher-tagged items may make you have a larger profit margin; however, down-selling is also important to your business. Suggesting cheaper alternatives will be helpful to build brand loyalty when a customer has a tight budget. Through email marketing, you can upsell and down-sell. Make your audience aware about high range products as well as tell them that less-expensive options are also available. This will prove beneficial to keep your products moving and thus boost your sales.
- Figure out the Problem:
Understanding the problems of your potential customers and factors that contribute in decision making is an integral aspect to consider. Problems may be varied. Identify the problem correctly and come up with a solution. Surely, people are going to pay you for solving their problems. Find out whether the problem is clear, hidden and complicated. If you figure it out correctly and have apt solution for it, people are ready to pay for it.
- Focus on Content and Social Media Marketing:
Be socially active as well. In today’s digital era, numerous ways are out there to reach people and present products to potential buyers. Smart gadgets today have made it easy to increase access to customers. People are making use of social media to build relationships. Businesses are utilizing thee platforms to reach the customers. Furthermore, these platforms are absolutely free. By building relationships through different social platforms such as Facebook, Twitter, blogs and Instagram, etc, makes it possible to communicate in numerous ways. This also spells better access to customers. Proper use of Content and social media marketing proves beneficial in terms of access to qualified leads, cost savings, and more channels to sell products.
- Make use of Proper Negotiation Techniques:
Skilled negotiation means Win-win scenarios with the perfect solution that is satisfactory to both parties i.e. merchant and reseller. If everybody is well-taken care of, the deal spells satisfaction. For an effective negotiation, it is necessary to ask the questions correctly, have patience and be ready to tackle any kind of situations skillfully.
- Focus on enduring customer relationships:
Purchasing a product or signing a contract is not the end of the relationship with the customer. It needs VARs to invest lots of time to make customers well-versed with how to optimize the payment technology. Focus on keeping a strong relationship. This will prove beneficial in building trust while adding value to the services offered.
- Use Cold calling:
Many of us don’t like it; however, cold calling is an essential step at the beginning of your sales process. In today’s highly digitalized era, reaching out customers and making them feel valued is of great importance. Use of personal channels helps in building relationships with new as well as existing prospects. Just a phone call or personalized email at the right time can add value. It simply helps you to be on the top of the list when a customer makes a buying decision. Cold-calling strategies bring in a greater number of potential buyers for VARs. It is necessary to sound like a trusted advisor, rather than just a sales representative. Ask the right questions, listen to their questions, answers and needs, understand their pain and propose products that might be helpful to the exact pains. Simply put, effectively use cold calling for generating interest in your prospects.
To conclude with, all above-mentioned strategies when used effectively will surely help in making your business flourish. There are various other strategies as well such as reviews, offers, cross promotions, etc. Invest your time to figure out strategies that work for your business. Get to know your customers and think from their perspective. Focus on creating healthy and long-term relationships with your customers. This will let you have a competitive advantage.
Start leveraging above-mentioned strategies to increase sales and get ready to enjoy manifold benefits in terms of increased sales and profit now.