Sales tech has developed considerably over the past decade. Cutting-edge tools, increasing market demands and innovative marketing polices bring forth tremendous competition. At present it t is moving faster than ever. Just in a blink, new competitors appear, products similar to your business are released, and before you even know it, it’s a race to the bottom.
But with thousands of competitors out there, how can entrepreneurs know which are right for them and their businesses? Keen business persons never think how to sustain; for them the only concern is how to become a top seller.
So, below are five golden rules that help you achieve your business niche.
1. Know Your Competitors
Your competitor is your best guide in the market. If you start researching your competition and bigger companies in your industry, you will realize that they are actually your new best friends. Why? It’s mainly for three reasons-
- You can learn from their mistakes
- You can get insights into what works for them
- They also reveal opportunities in sales
By doing a bit digging online, you are bound to dig up some achievements and mistakes that your competitors have made. It will smoothen your path to success, as you will have a better understanding of your target market.
2. Keep an Active Presence on Social Media
Social network is the biggest influential tool in today’s market economy. Over 90% of young adults (age 18 – 19) use social media in some way or the other. Active presence over social networking sites can be a game changing choice for your business.
Do you know?
- 95% of online adults (18 – 34) are most likely to follow a brand via social networking sites. (Source: Marketing Sherpa)
- 71% of customers, who have had a good social media service experience with a brand, are likely to recommend it to others. (Source: Ambassador)
- There are 1.65 billion active mobile social accounts globally with 1 million new active mobile social users being added every day. (Source: We Are Social)
- 81%+ of marketers found that increased traffic occurred with as little as 6 hours per week invested in social media marketing. (Source: Social Media Examinar)
The highest benefit that you can have from social network is a huge scope to interact with your existing and potential customers directly. Direct interactions generate brand loyalty and long term customer relationships. It enables you to further bolster your prospect database as well.
You can even monitor your brand reputation, keeping an eye on customer conversations and relevant feedbacks. It will give you a clear vision on your sales prospecting process.
Social media happens to be the most effective marketing platform to carry out brand promotion and campaign. You can gain maximum visibility and considerable number of responses from customers.
3. Bestow more Importance on Content Marketing
Content is the finest armament for any kind of business. By ‘content’ generally people understand blogs and articles. But, in the marketing term wherever you use content, it comes under content marketing, including videos, infographics, Google Ads, images, GIF, Emails, so on and so forth.
In order to understand the valuable impact of content marketing, let’s see some quick facts-
- Three major goals of content marketing are- lead generation (85%), sales (84%) and lead nurturing (78%). (Source: Marketing Profs)
- 70% of B2B marketers are planning to create more content in 2017, compared to 2016. (Source: Content Marketing Institute)
- The demand for infographics has increased by 800% in the past year. (Source: Urbounce)
- 69% of companies report their video marketing budget has been increased. (Source: Ascend2)
- 75% of marketers to use interactive content plan to increase their use of medium this year. (Source: Content Marketing Institute)
- 45% of marketers say blogging is their top most important content strategy. (Source: Social Media Examiner)
- 80% of business decision makers prefer to get company information in a series of articles versus an advertisement. (Source: Stratabeat)
Content is the easiest way to convey your message in a very interesting form. Videos, images, graphs and patterns add something more to it. It helps sellers to reach out to their target customers to increase sales opportunities. It has a positive implication for search engines that helps to improve your website visibility as well. Besides, people do prefer learning articles to make important decisions, instead of advertising based click-baits.
4. Think more about Email Marketing
Among the different content marketing strategies, give little bit more importance to Email marketing. Why so? Let’s check-
- 44% of email recipients made at least one purchase last year based on a promotional email. (Source: Convince and Convert)
- 72% of B2B buyers are most likely to share useful content via email. (Source: Earnest Agency)
- Email marketing technology is used by 82% of B2B and B2C companies. (Source: Ascend2)
- 95% of companies using marketing automation are taking advantage of email marketing. (Source: Regalix)
- 56% of companies currently use an email marketing provider and are 75% or more likely to be purchasers of marketing automation software over the next year. (Source: Venture Beat)
- Marketers have noted a 760% increase in revenue from segmented campaigns. (Source: Campaign Monitor)
- 81% of online shoppers who receive emails based on previous shopping habits were at least somewhat likely to make a purchase as a result of targeted email. (Source: eMarketer)
According to the report of Monetate, Email marketing drives more conversions than any other marketing channel, including search and social. This cost-effective marketing policy can help you reach anyone in the world; however, its effects can be easily measured. Furthermore, email marketing is also a much more personal way to reach out to your target audience, than advertisements.
5. Connect the Dots with CRM Software
Whether you are in a B2B or B2C business, you need an integrated CRM system that helps carry out the entire business strategy. It gives you the holistic vision and a common platform to take control over each segment of your business strategy. Besides, it helps you gain a complete understanding of your customers and business prospects. That is why-
- The CRM market is predicted to reach $36 billion by 2017. (Source: Gartner)
- 80% of marketing automation users declared their numbers of leads increased. (Source: VB Insight)
- 6 out of 10 small businesses are using their CRM for email marketing. (Source: Marketing Charts)
- We can see that 6 years ago only 12% of businesses used cloud based CRM – This figure has now increased to 87%. (Source: Super Office)
Why CRM software has become so much popular in business sector? In order to understand its indispensability in increasing sales revenue, we need to know some of its features-
- It leverages customer data management.
- It makes contact management easier than ever.
- It helps to track leads and follow up with the prospects.
- It integrates a common platform to track social media feedback, queries, comments and even the customer calls and emails.
- With the CRM system you can speed up your customer response.
- Its exclusive ticketing facility enriches the entire system of customer service.
- It empowers the process of sales analysis, the entire sales force automation and sales forecasting.
- With its cohesive tools it reinforces workflow automation and employee collaboration.
Business is like riding a bicycle. Either you keep moving or you fall down. – Frank Lloyd Wright
If you want to keep moving, you must keep up with the current trends in the industry you belong. Otherwise, you will fall behind. The five strategies mentioned above are the most eccepted and trendy business strategies that give any organization a vision to excel.
Factually, it is not easy to maintain all the five strategies simultaneously, but CRM software makes the work more organized and simple. A CRM software is not only a strategy by itself, but it also helps to execute other business strategies.