Sales are the most important function in any business. This is because the sales professionals are primarily responsible for bringing in the moolah to keep the lights on in the office. At any given point in time, the entire organization is effectively trying to help the salespeople reach their targets. When this is accomplished you can safely say that a small business is on the road to success.
Small and Medium Enterprises (SMEs) always function under extreme pressure. There is always the threat of an unforeseen event (think demonetization or GST) throwing your revenue stream off track. So you need to be prepared for cash flow hiccups and must ideally have some money put away to meet emergencies. Smart business planning and sales forecasting will ensure that you know your numbers can keep a tight leash on costs and avoid burning out money.
Since sales are of paramount importance to small businesses, let’s see how you can increase it without driving up costs.
Smart networking skills will help you connect with the right people in the right places.
It is also possible to get to know entrepreneurs like you who may be facing challenges similar to yours. Knowledge and resource sharing will enable you to acquire new skills as well as find business solutions without investing any money.
Entrepreneurship is very often a lonely journey. Networking events, seminars and conferences will help you engage with other like-minded businessmen and broaden your perspective about your role and challenges. You may also come across opportunities where businesses can refer one another to potential customers. This can be a significant sales driver if you are at the right networking event.
If you live in a city with plenty of SMEs, then it will be easy for you to choose a few events to attend every month. Local Chambers of Commerce and Industry will have information regarding trade shows, events and conferences taking place in your city. Sites like https://www.meraevents.com/ list events happening in almost every city in India. You just need to choose ones that interest you and book a seat or buy a ticket. To be more specific, https://www.socialbeat.in/blog/digital-marketing-events-india-2019/ lists all events happening in the digital marketing space. https://10times.com/india/engineering/tradeshows has info regarding events catering to manufacturing industry. Big events like the India Manufacturing Summit coming up on December 7th 2018 (Mumbai) are co-located with smaller events like Pharma IT Summit, Artificial Intelligence Connect and Cybersecurity Summit, which make it a deeply engaging experience for you.
Automate and Streamline
Small businesses should make cutting costs one of their topmost priorities. You can save money or generate revenue only by increasing sales or controlling costs. Inefficient processes and work flow procedures lead to waste of money and time.
There are plenty of day-to-day tasks involved in running a business that are repetitive, manual and routine. Such tasks can be identified in every function – sales, marketing, customer service, social media outreach, operations and HR.
There are automation tools available for every business activity from raising invoices to reposting blog articles.
In warehousing, Automated Storage and Retrieval Systems (AS/RS) are estimated to provide a productivity improvement of almost 50%.
Some of the intelligent automation software for lead generation and marketing include RS Lead Extractor, Hootsuite and JustDial Extractor. JustDial Extractor scrapes data of SMEs listed on JustDial to give valuable leads to B2B businesses. Thus you can see using the right tool will help you take your sales game to the next level.
In the same way you can automate invoicing, source and recruit candidates, carry out customer satisfaction surveys and run email marketing campaigns. The more you automate and streamline your business processes, the more time you have to devote to productive activities like client visits.
Today businesses face fierce competition from local as well as foreign competitors. Ecommerce and smartphones have given rise to the global customer who is aware, smart and demanding. So now the time has come to take your sales and marketing strategy to the next level to meet global challenges.