It’s a new decade, and regardless of how well your business is doing, there are inevitable sales slumps that many products and offerings endure. Whether your products are doing well but you want a boost, or you want to completely revitalize the sale of a product that hasn’t been performing, there’s no better time to rethink your sales strategy.
Not all products take off on the first try. Andre Palko of Small Business Rainmakers tells us that Dyson vacuum cleaners were first invented in 1979, but didn’t fly off the shelves until 1995. Just because your product isn’t attracting magnificent sales yet doesn’t mean it never well – but it could mean your sales strategy needs some tweaking.
Consider these four unique ways to revive your sales strategy.
4 Unique Ways to Revive Sales in 2020 | Stephanie Burns
1. Open and Close Availability Intermittently
Many products are “evergreen,” meaning they’re constantly available. But if a customer can buy it at any time, there’s no urgency to buying it now. This makes it easier for a potential customer to say they’ll get back to you after they “think about it,” which typically means the sale isn’t going to close.
Depending on your product or service, there’s likely a way you can open and close availability. Perhaps you run a course or a program with cohorts that open only four times a year. Or, perhaps one of your products has seasonality, and is only available during the summer months. Kelsey Baldwin of Paper and Oats writes that this type of open/close launch entails that “your audience must be prepped and ready to buy when the time comes.” So, create a strong marketing plan in the months leading up to the new launch open.
2. Call Past Leads
Next, keep it a habit to not let bygones be bygones if it doesn’t work out with a lead the first time around. Callum Davies , founder of Illuminate Digitl, shared, “I always circle back a few months later with leads that went cold to see if they found what they were looking for. About ¼ of them are open to another conversation, and I can usually convert a few of them to sales.”
Just because it wasn’t the right time for the lead the last time you spoke doesn’t mean things haven’t changed. Keep in mind that they potentially put a purchase on the backburner, got distracted, or needed to allocate time to other matters.
You’ve no doubt heard the old adage “Fortune is in the follow up.”
3. Host An Event Or Mastermind
It can be challenging to only use online relationships to make sales. If it seems appropriate for your company, consider hosting an event or mastermind in your area with related talks, workshops, and materials. Hunter Ballew, founder of the Master Closer & Bold Brotherhood, shared with me that “Events are essentially vortexes. When we give our ideal client the information and inspiration they’re looking for, they want to prolong the experience. Even if they don’t convert immediately, they’re forever part of your community and audience moving forward.”
Give your ideal clients the chance to get to know you and your business in this intimate way. It can be as small scale as a “lunch and learn” at a coworking space or as a big as a multi-day mastermind in a different country.
4. Allocate 10% More Time To Visibility
Finally, consider how you can amp your visibility. This doesn’t necessarily mean hiring a PR firm (unless that’s been a goal for you), but think about how you can utilize social media to reach more of your target customers. Create an outreach plan to pitch yourself and your company to podcasts or blogs. Simply allocating one hour a day to methodically promoting your visibility can revive sales from exposure.
If none of these attempts at revival work, also consider renaming the product or switching up the offering. But chiefly, listen to your target customer. If you’re selling something that doesn’t solve their problem or doesn’t address their needs, your time is better spent thinking up ways you can.