Increasing sales is a big challenge that every business faces. Engaging on social media is necessary to reach potentials clients and buyers looking for your products and services. Without a good marketing strategy to support your sales efforts, it is difficult to achieve revenue growth. In this fourth blog of a 5-part series, we will explore cost-effective, easy to apply tips that small and medium size business and solopreneurs can use to generate leads, build visibility, and grow sales revenue. For all five key strategies, visit JMK MarComm Blogs.
Here, we address a critical marketing strategy that will help you effectively generate leads and increase sales. To generate leads and increase sales, buyers need to know that you exist and what you offer. Finding new clients is much more difficult today and very much like trying to find that needle in a haystack. They need to find you when they are searching based on keywords (from their computer or phone) when they have a need to fill. You must make it easy for them to find you. Let’s get started!
To generate leads and increase sales, buyers need to know that you exist and what you offer. Finding new clients is much more difficult today and very much like trying to find that needle in a haystack. They need to find you when they are searching based on keywords (from their computer or phone) when they have a need to fill. You must make it easy for them to find you. So, let’s get started!
Your first step is to evaluate your position in the marketplace. You may have conducted a SWOT analysis in the past, but things have changed considerably since COVID-19 came onto the scene. A SWOT analysis will help you focus on the selling points of your business that set you apart from all others in your industry. It will establish your brand identity and help you craft all your sales messages.
Many of my clients never conducted a SWOT analysis or have vague recollections of doing so in the past. Business owners can generally succinctly state what service or product their business provides. Many are aware that the market is shifting, but they find it challenging to adapt their “elevator pitch” to be relevant to today’s buyers. Their employees also struggle with a lack of clarity describing what they do better than anyone else in the industry. That makes it pretty difficult to sell your product or service.
This is an excellent time to do a new SWOT analysis with a fresh perspective based on current market trends and marketplace factors. In fact, it is a good idea to do a SWOT analysis annually and compare it to the previous year to understand what is shifting in the market and help you respond quickly. You do not need to spend money – except maybe on flip charts and markers – to conduct a SWOT brainstorm.
Identify your strengths, weaknesses, opportunities, and threats. Assemble a brainstorming team of various people in departments. If you are a 1- or 2-person business, engage a couple of people from a networking group or Chamber to participate. They will bring valuable perspectives to this process. If you cannot meet in person, a video meeting (e.g., Zoom, Google Meet, Google Hangouts, etc.) is perfect for this.
- Be clear about your strengths. Have they changed? How?
- When you examine areas in your business that hold you back, you’ll uncover weaknesses.
- Identify every possible opportunity, then rank them according to what will yield the most revenue in the shortest time with the least change or resources.
- What competitive threats have you uncovered in your research? Are they new?
TIP: Focus on two new opportunities you can pursue right now. Select the best one to act on first. Set goals and a timeline for measuring progress. Assign a champion to drive it forward. When you start to realize progress, keep the momentum going and add the second opportunity. Set goals and a timeline for measuring progress. Assign a different champion to drive it forward.
Understanding your businesses position in the marketplace and defining actionable opportunities for growth is your starting point. Take the time to perform a SWOT analysis. It provides a reference point that helps you measure your business going forward. Communicate the results to your team, so they can all be on the same page.
Implementing the strategy provided here is a good step on the path to aligning your marketing efforts with your growth goals. This is a challenging time, but there are buyers with evolving needs, and new opportunities arising in the most interesting ways. Position your business to meet those needs and discover those new opportunities for revenue growth with solid marketing strategies.
For help and guidance on applying any or all of these marketing strategies in your business, reach out to Jill Kovalich at JMK MarComm LLC. We offer marketing support with monthly fixed plans or project-based fees to fit your needs. Our prices and plans are scalable and flexible.
To learn more about JMK MarComm LLC and connect with Jill Kovalich for a free consultation about your business’ needs, go to www.jmkmarcomm.com.