3 Leading Ways to Boost your Sales and Hear more Cha-ching!
This week, I’ve noticed a LOT of people asking a variation of the following question:
“How can I get more people buying my product or service?!”
It doesn't really matter if your business is hours old, weeks old, or decades old, I believe all of us should be regularly reviewing this question, so that we can maximise our sales.
Particularly in this challenging market -
asking ourselves this question, and making it easy for people to buy, can really help set our businesses apart from our competitors.
Here are my top 3 methods of how to turn your browsers into buyers:
Identify where the blocks in your sales system are
I cannot stress enough how important this is!
Our natural reaction is usually to jump to conclusions about why we are not getting the sales we would like to. But, there are so so many reasons that buyers might not be buying from you.
My coach Courtney Foster Donahue has this saying:
"Data over Drama" and I believe that this is something we should all embrace more.
What it means is that it's no use guessing what's wrong. The numbers will always tell us exactly what isn't working, so we can then go and fix it.
Here are 3 ways to identify what's not working in your sales system:
(By the way - I suggest you do all of them for best results)
1. Look at your metrics and use this to work out where the system is breaking down:
Start with your website:
First look at how many hits are you getting on your website or sales page:
If the answer is not many, then you have a traffic problem. Working on solving that traffic problem will improve your sales.If the answer is a lot, but no one is buying, then you have a conversion problem. Working on solving why browsers are not converting will improve your sales.
Where are people dropping off in the buying process?:
If you have your website set up with Google analytics, you can see where people drop off. There are clues here.
Sometimes it might be for example that you're getting a lot of traffic, but you are not doing a very good job of describing and selling the product with the copy and photos.
Maybe your buying process is complicated?
Remember, it's normal for as many as 70% of buyers to abandon their cart. But anything over that needs careful examination to see if your cart process can be improved.
If you want help analysing your website, I recommend reading this free article on:
How to work out why your website isn't working for you using Google Analytics.
You might also like this free article: 18 Magic Metrics every small business owner should know
Sometimes our money shortage isn't actually about lack of sales - it's about the absence of profit...
Learn all these different metrics (and more) to make sure your business is financially ready to scale, (so that you don't run out of fuel before making it to your destination) with my 5 Step Profit Formula course...
Next look at your Social Media analytics:
How many people are seeing your posts?
If your content isn't getting much reach (seen by many people), then you have an audience reach problem. Solving that will improve your sales. Try extending your reach using partnerships with other businesses, other social media channels, creating more interesting content or using ads to extend reach.
What are your engagement and click-through rates like?
If the answer is, pretty low, then perhaps you are posting content which is not relevant or engaging to your audience.
Try using call to actions at the end of every social posts to encourage your followers to click through to your website.
If you're a product based business, making sure you have a Facebook and Instagram shop setup, and tag the products in your photos so that it's easy for people to click through to buy them, should also help make it easier for your customers to take action.
Next look at your email marketing analytics:
Look at your open rates and click through rates of your email newsletters...
First of all - are you sending regular emails, and if so - how often are you sending them?
This is a huge one. I find so many business owners are scared to use email marketing. But email gives the best return on investment of ANY marketing platform.
It's a common belief that email marketing is losing its effectiveness. But actually, the statistics tell us that it's GROWING in its effectiveness:
It used to be that for every $1 spent on email marketing, a person would get $33 on average back. But the latest figures I've seen have gone up to $44 on average!
Email marketing can help every.single.business. I can't think of any exceptions to that rule.
If you're sending emails, how many people are opening them?
Industry standard open rates are typically between 18-25%. Which is why I encourage clients to send emails to their list at LEAST fortnightly.
But, most of my clients following my advice achieve open rates more in the region of 30-40%.
As an email lists grows in size, typically open rates reduce. So a small list might get open rates of over 35%. But a large list might get closer to the 18%.
In general, if less than 25% of people are opening your emails, then it's a sign that your subject line needs improving, or that your list has gone cold (possibly because you haven't been emailing them regularly.)
Consider how you can make your emails really appealing for people to open. And I recommend using an email subject line tester like this one from co-schedule.
What are your click through rates like?
Most businesses want to try for a click through rate of over 2.5%. If not many people are clicking then it means that your offer (or reason for them to click) needs to be more enticing.
Improving all of these metrics will improve your sales.
2. Ask people.
The second way to find out why people aren't buying, is to ask them.
But - by asking them I don’t mean sending them a survey. (Let’s be frank, no one has any time for surveys). And just as importantly it’s also not going to tell you what you need to hear, because people will censor what they answer.
Instead, I suggest good old-fashioned talking to people.
Asking people verbally means that they won't have time to sensor their answer, and this uncensored answer will be the most useful to you!
Start with people who have bought from you:
- Why did they choose you/your product?
- What did they like about it?
- Are there any ways they suggest you improve it or the process of buying it?
Then try asking people in your target audience who haven’t purchased from you:
- What are they looking for to make a purchase?
The most important thing you need to get by the end of this is clear on what their problem is, and how can you meet their needs by solving that problem in the most effective way.
3. Check your content is relevant and appealing to your audience
The saying goes “content is King” for a reason.
- Are you posting content which is of high value to your audience?
- Is it calling them to action?
Or, are you posting fluff/filler content which is doing nothing except for filling their feeds and keeping them scrolling?
I’ve seen a few examples recently of Facebook pages or websites where I didn’t even know what they did from scrolling through them.
If that is the case with yours, then that’s a problem. Your social media platforms, or website, should indicate what you do and the problem you solve, immediately upon landing. If it doesn’t, it’s not doing its job of telling customers what you do and getting them to buy very well.
Your online channels should also call them immediately to an action and provide a very streamlined, easy path for customers to make purchases. If it’s too hard or cumbersome, the reality is that they’ll abandon their purchase.
As you can see, there are so many ways your sales plumbing could be blocked. Sometimes it can take an outside eye to help you address where the problem lies.
If you’d like us to help you review your sales process in any of the ways above, book a free chat and we’d be happy to help!
Check your service and customer pathway
Is buying from you a really nice experience for your customers?
Have you taken time to work out how you can create moments of connection through the process - for example following up after the sale and seeing how they are enjoying their purchase?
Making an unbeatable customer experience is so crucial in helping you stand out from the competition. You’re more likely to experience word-of-mouth marketing, and repeat purchasing, both of which will improve your sales.
You can automate quite a lot of your customer service with automated email marketing.
Check out our "Nurture Like a Pro" email templates to help you save time creating an automated email nurture sequence.
Give an incentive to purchase again
Once a customer has made a purchase from you, they are far more likely to purchase from you again than a new customer. So, marketing to existing customers will cost you a lot less compared to marketing to new customers.
Here's a checklist of things you can do to incentivise repeat purchases.
- Are you doing your best to resell or upsell to your customers?
- Do you offer any incentives to purchase from you again?
- Are you communicating with your previous customers about your products and offers via email?
- Do you retarget them on Facebook with Facebook ads?
- Have you offered any VIP or subscriber-only offers to form a pre-launch of any new product/service?
- Do you offer them a discount at cart if they purchase an additional item? Or a discount if they provide a review/testimonial?
These are but a few ways that you can really maximise sales to existing customers and improve your overall sales.
How many of these ways to increase your sales are you doing?
I know that there is an awful lot in this article. But, following it can really REALLY help you boost your sales.
If you feel overwhelmed looking at the list, and would like help implementing them in your business, then please reach out to us, we'd love to help you with that.
About the author:
Kat Soper is the Founder and Head Trainer of The Helpful Academy Online Business School.
Kat is passionate about helping start-ups and small businesses succeed and achieve their business goals so that they can achieve the lifestyle they desire (and deserve).