How to Generate Sales for Small and Medium Business

Competitor's Analysis Helps in Generating Sales

As a small and medium business owner, you should do a competitor analysis. When you do competitor analysis, you will sell more products, you will get more visitors to your website, you will get more users on your forum, and you will get more sales on your freelancing services. Competitor analysis means finding your strength and weakness. Once you know what your strengths and weakness are, you can use your strength to convert your weakness into your strength. You need to build a proper strategy and your strategy should include things like improving where improvements are needed, finding what your audience wants, and finding the most effective channel for your business. Simple things such as knowing what platform your competitor uses to advertise their products or service, how they build traffic, how they generate sales, and where their customers are based will greatly help you. If you plan to run ads, knowing where they advertise, where their ads appear, and what their ad conversion rate is will help you plan your marketing and advertising campaigns. You should always devise a plan to outperform your competitor. Your product pricing should depend on your competitor's price for a similar product.

Reasons Why You Are Losing Your Clients

Here are some of the possible reasons why you are losing your clients and customers:

Absence of proper communication: You don’t respond to the clients’ or customers’ messages, or take a lot of time to answer.

No new offers: When you do not have any new offers, your existing customers and clients start deserting you.

Not offering better solutions: Instead of offering better solutions, you seem to agree with everything your client says. Clients don’t need Yes man, they need critics.

Taking clients for granted: You are treating clients just like objects, or money, you start ignoring them after you have sold your service or product.

Unrealistic offer: If your offer is unrealistic, your clients start disbelieving you.  NO one will believe you if you tell them you can make them appear #1 on Google in 3 days.

Not focusing on clients’ goals: Not delivering what the client expected, not helping the clients grow their business, or not offering what the client actually wanted.

Effective Methods to Generate Sales

iPhone succeeds because Apple is not selling a mobile handset, it is actually selling a lifestyle. When you are buying iPhone, you are not just buying a mobile phone, you are buying the lifestyle promoted by the company. These days a lot of brands are not actually selling products, they are selling lifestyles.

When you are watching facebook or youtube videos, you can skip ads only after watching them for 5 seconds, which means whether you like them or not you will have to watch the ads. If you watch the ad and if it can grab your attention in 5 seconds, you might be interested in checking the ads. If that happens the advertisers will manage to generate sales. That's why video ads are effective.

Getting industry influencers to market your products is very effective in spreading awareness about your business. You also get social proof through influencer marketing. You can use social media ads to reach a wide section of your target audience. Social media promotion also builds your brand.

Do you Really Need to Run Ads To Generate Sales?

There are numerous promotional media, for example, radio, TV, newspaper, Internet. If you choose the internet to market your product and services, there are many options, for example, search engines, social media, blogs, websites, etc. If you chose to advertise on social media, you will have a lot of options, such as facebook, twitter, etc.

A new business can survive without advertising, this applies to online businesses as well as offline businesses. Let's say you launched a clothing store, you chose a prime location to open your shop. You spent a lot of money on store decoration and hanging a banner in front of your shop. Your business will be noticed by every passerby. If they are interested in the products you are selling, they will buy from you. Let's say you have an online store, you spend money on SEO, and managed to appear on number one search results. You will be generating sales without running ads.

You need an effective marketing method to generate sales. There is no point in promoting products if you are not generating sales. In my opinion, the most effective method of promoting products is through content marketing, especially video content. If you promote affiliate products through youtube, TikTok, Facebook, and Instagram videos, you can generate sales without spending money on ads.