How to Increase Sales when market is Slow

How to Increase sales when market is down

As a Sales and marketing Professional, one the challenging task is to continuously hit the targets when the market is slow. During the economic downturn, companies saw a decrease in their sales volumes. Here are the key steps which can help you to increase your sales during slow market.

USP – Need to Highlight the Unique Selling point

USP – Unique selling proposition/Point should be clearly highlighted and communicated among your customers/market. There should be the reason that your product is better than competitor’s which need to be highlighted to customers. ?It could be Quality, Price, after service etc. Your marketing and advertising strategies should be aligned to highlight the same.

“Make sure that your customer’s are well aware of your Products USP”

Put more focus on business development

This is the right time to put more focus on new business or expansion of existing to other markets or adding new customers for your existing business. We need to use our resources like network to get maximum leads for business.

Distribution plays an important role in success of any business. We should put more focus on it and workout how to increase the same.

Goal setting - Set your daily goals

Setting goals especially for sales professionals is key to success. Set yourself a daily target which is both attainable and flexible. Once you set your goal, your path to achieve it becomes easy and helps you to manage your time and resources.

Sales Contests – Incentivize your team

It is human psychology, that when team feels appreciated and equally paid, they are more likely to give more than 100% on each day and are fully satisfied with their jobs. This will create an environment of team work and togetherness. Money is the best tool to motivate teams and get 100% results from people on their jobs.

Communication - Keep in touch with your current customers

It is easy to loose than to win a customer. During slow times, it is easy to loose contact with your customers because they may not be looking or purchasing your products at that time. But you should make sure that your value their business and should remain in touch with them. You can engage them in different ways like through quiz’s, free samples, engagement Activities, Social media etc. When the situation turns, they will be the first to reach out to you for their product needs.