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5 tips on how you can increase your sales – Malaysia

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Hello our fellow Malaysian entrepreneur! Have you been wondering on how you can increase your sales? Then this article is for you.

Increasing your sales is like extending the life line of your business. After all, sales is what gets money into your company and gets operation running. However, increasing sales is not an easy task as competition gets tighter and tighter day by day.

But regardless of that, there are always companies who managed to drive positive growth again and again, even in bad times. How on earth did they do that? Well, we are sure that it isn’t magic. But it’s something to do with applying the right principle/practices within the organisation.

And today we are going to uncover that, we present to you:- 5 tips on how you can increase your sales.

Key Takeaways
Competition drives innovation and growth within a company. But to keep a company alive, sales is of upmost importance. Here's 5 tips on how you can increase your sales:

(1) Coach your sales team by having milestone review and standard operating procedures (SOP)
(2) Be more aggressive at prospecting new clients and opportunities
(3) Set up affiliate with 3rd party vendors
(4) Leveraging on your existing customers to generate higher sales
(5) Incorporate digital marketing into your business

#TIPS 1 : COACH YOUR SALES TEAM BY HAVING MILESTONE REVIEW AND STANDARD OPERATING PROCEDURES (SOP)

Coach your sales team regularly, it works wonder
Many Malaysian business owners like to blame the market for their dropping sales. “The economy slowed down, it’s normal for my sales to drop.” When a business owners make an excuses like that, it’s not shocking that their sales is not looking great. The truth is, many would think that a fall or a drop in sales is often affected by an external factor. But that isn’t always true. A poor internal management contributes to the drop in sales as well.

Just think about it, how can your sales team perform at their best/ bring it more sales if the platform they are given are not set right from the beginning? Nathan Jamail , the author of “The leadership playbook”, state that often business owners behave like managers instead of coach. They hire great people, place them in a position, leaves them to perform their work and never question them. And this is actually what most Malaysian business owners are doing.

They don’t talk to their people enough and giving them the necessary support for them to excel in their job.

Instead of just hiring people and expect them to perform, try creating a supportive platform for them to work. Have milestone reviews every two weeks so they can tell you what kind of problems they are facing and how everyone can assist each other to reach a goal.

If they are facing difficulties in approaching a prospect or closing a prospect, try developing a standard operating procedure for sales with your team. Get everyone to share their best practices and inputs on how to be a great sales person and bring in more sales.

Remember, sales target is not just a job for the sales team. It involves you, the business owner as well. Change the culture and you shall see a change in your sales number.

#TIPS 2 : BE MORE AGGRESSIVE AT PROSPECTING NEW CLIENTS AND OPPORTUNITIES

Be more aggressive at prospecting new clients and opportunities
Don't just sit there and wait for clients, be more active!
Some Malaysian business owners are really passive when it comes to running their business. They would launch a product or open a store and then expect customers to just flock in.

Well, it might have worked well for them in the past due to the scarcity or limited choices of products or stores. But today, customers or clients are spoiled with the amount of options they are presented.

Business owners need to be more aggressive when it comes to raising sales number. There’s no shame reverting to some old school methods such as cold emailing, cold calling or even asking your existing clients for a referral.

If you need a reference for cold emailing, you can refer to our article here:

Read: 5 newsletter marketing strategy you must have in 2020

For retail stores, it wouldn’t hurt to explore avenue to move some of your business operations onto the internet and consider e-commerce. We are now in a digital era, and we have to understand that the ball game is already different and adjust accordingly.

Read: 3 things you need to know about digital strategy [2020]

Always think of new ways to reach out to your customers, getting them to know about your business and stay relevant.

#TIPS 3 : SET UP AFFILIATES WITH 3RD PARTY VENDORS

Partnering with others
Learn to leverage on others to expand your sales
Another method that you can utilise to increase your sales is to form affiliate with other business owners. This method is still not widely used by companies in Malaysia despite it being a high potential avenue to increase sales.

In overseas, famous companies such as Adobe and Amazon all have affiliate program in place. The trick here is to reward people as they share your business to others or direct their customers to spend on your business either in the form of service or cash incentives.

This method is extra cost effective for small companies who can’t afford to hire full-time sales person. Speaking about affiliate program, check out ours here.

It’s not hard to start one of your own. All you need is just to plot out an affiliate plan, ie what kind of incentives are you providing to your member for bringing 1 sale, payment method, marketing assistance and so on. Next, just start signing up affiliate members as you go. You can start from your existing customers/ clients.

#TIPS 4 : LEVERAGING ON YOUR EXISTING CUSTOMERS TO GENERATE HIGHER SALES

Engaging customers to increase your sales or convert them into sales
Increasing sales doesn't often mean new clients. Old clients work as well!
Did you know? According to outboundengine.com, by increasing your customer retention by 5%, you can easily increase your profit by 25-95%. So increasing sales doesn’t mean that you have to go outside and look for new clients, you can sell more to your existing clients instead!

And this is called “upselling”, it’s the sales technique of getting your customers to spend more after they have already spent or are ready to spend on your business.

It’s not hard to implement this tips and the success rate is so much higher because they are already buying from you or is going to buy from you. That means you have their trust!

To increase customer retention or increase customer loyalty, you have to cultivate an interest of following your business into them. There are many ways to do it, and you can refer to our customer loyalty article here to get started.

But just to share same, ways of cultivating customer loyalty includes rewards, customer services, feedback, communication and many more. Remember, higher customer loyalty means higher sales! This is a very effective way to increase your sales.

#TIPS 5 : INCORPORATE DIGITAL MARKETING INTO YOUR BUSINESS.

How to get started with Facebook marketing [Beginners ]
Internet is where your customer finds you
There’s really no explanation needed for this last point. In order to increase sales, you definitely have to ensure your business is easily discovered by your potential customers. And there’s no better place in this era, than the Internet.

There are multiple ways to get discovered on the Internet, you can refer to our ultimate guide for digital marketing [2020] here.

You can start by making sure you have some sort of online presence, some of the methods include:

  1. Having a Facebook page or Instagram account
  2. Having a website set up
  3. List your own business on GoogleMyBusiness or online business directory


Having digital presence doesn’t always mean that you have to spend money, here are some of the methods you can use to increase your public awareness and get found by potential customers without spending a single cent.

Read: 5 free marketing tools to kick start any marketing campaign [2020]

TO SUM IT UP

Competition can be stiff in Malaysia, but so is everywhere else. Business owners should stop making excuses and blame it on the economy for sales drop. Instead, we should be improving ourselves internally within the organisation and externally with our potential customers or existing clients.

Once we work on ourselves and improve our sales strategy, you will be surprise on how your sales number could still be increasing even at a bad time.

But if all of these are too much trouble for you, and you’re looking to hire a digital agency and engage their services, make sure you read our article here first to avoid a bad hire.

Read: 5 red flags you’re hiring the wrong digital agency [2020]

If you want to read more of our articles, do check out our Knowledge Archive. If you want weekly updates on topics pertaining to life and business, do let us follow us on Instagram and Facebook

If you like how we write our article and would like to start a project with us, tap the link here.
Jin Chi

Jin Chi

The founder of Catalyst Digital. Born in year 1995, a huge fan of blue ocean strategy as well as lean startup. You can contact him by email at jinchi@catalystdigital.my

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