Companies that are looking to grow and increase their revenue tend to focus on improving their marketing campaigns or increasing their advertising budgets.
While those strategies can be very effective, with the right sales strategies, companies can target the people that have already decided to make a purchase from the business, and are at the stage of the buying journey where they’re deliberating on which purchase they want to make.
According to research, if a business lacks legitimacy, it tends to result in up to 50% in cart abandonment. In terms of legitimacy, companies need to show that they are a business that customers can trust.
Plenty of customers have gotten themselves into bad situations because they previously trusted a business that actually wasn’t trustworthy, which can make them feel uneasy during the buying process.
To avoid mistrust with the customers, companies can add trust signals throughout the buying journey.
Those trust signals can include an SSL certificate to the company’s business website, third-party endorsements, and verifications, customer testimonials and reviews, and showcasing the badges or awards the company has received from other trustworthy organizations.
When companies decide to collaborate or create a partnership with another business, or an influencer that’s going to promote the company’s products, that business is utilizing influencer marketing.
This is a common strategy on social media platforms like Instagram and TikTok. There’s a lot of potential in terms of influencer marketing since the market has grown to over $16 billion in the last year.
The best way to start influencer marketing campaigns is to first reach out to relevant influencers in the industry or the market and ask if they sell their endorsements to audiences.
Companies can send free samples or products to those influencers so they can test out, and then talk about their experience with their followers, intern, creating an influencer marketing campaign.
Plenty of small businesses tend to avoid utilizing one of the best sales tools that they have, which is upselling.
Most small businesses tend to think that investing in upselling isn’t worth it, but that’s not quite the case.
According to studies, up-selling can increase the average order value of a company, which can really add up over a long period of time. In fact, in the first year that Amazon decided to test up selling on its platform it managed to increase its sales by 35%.
There are different ways that companies can increase their ups selling rates, such as providing customers with free shipping for any orders they make over a specific amount, offering related products on the product pages themselves, or suggesting similar products on the checkout page when they’re trying to make a purchase.
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