METHODS INCREASINGLY SALES

III. SOLUTIONS
1. Humans
1.1. Market Research and Customer Understanding
Market research is so important that it can mean the difference between success and
disaster for a business. In addition to analyzing past and current trends, market
researchers face the difficult task of finding ways to improve, use forecasts to predict
how the market is going to shift, and determine what a business can do to stay one step
ahead of the changes. There are some ways to improve market research.

● Identify new opportunities and needs

One thing is certain about the market – it’s always changing. This state of constant
evolution means a market researcher needs to use their analytical skills to study: current
trends; demographics, market size, market shares, trend forecasts, industry suppliers,
geographic distribution,... Collecting this information and pinpointing potential areas of
improvement is a critical first step in understanding the existing market and finding
opportunities for business strategies, advertising, and products.

● Understanding your customers

In order to accurately target the customers in your market niche, you need to know who
your customers are. This type of research can be conducted through focus groups,
questionnaires, surveys, interviews, and analytical data collected from online interactions
with your brand. It’s important to create a customer profile that not only identifies
demographics such as age, income, and interests, but also identifies needs that aren’t
being met and how your audience may have changed over time.

● Don’t make assumptions

One of the most dangerous pitfalls a market researcher can fall into is allowing
assumptions to enter the equation. It’s easy to notice patterns and make automatic
assumptions without diving deeper to explore why certain trends are happening. That’s a
recipe for disaster. Decisions should be made based on the numbers, studies, feedback,
and trends – not unverified assumptions.

● Apply personalized problem-solving techniques per project

Every project should be handled individually. There is no blanket, one-size-fits-all

approach when it comes to problem solving for different aspects of the market. If you’re
sending out surveys as the primary means of collecting data for your market research,
take the time to consider your goal each time. Don’t create an all-in-one survey and send
it out to everybody. Instead, tailor your questions and send them to targeted people.
Customers participating in your brand awareness survey should not be getting a carbon
copy of your customer satisfaction survey, nor should both groups be receiving one
survey that covers questions from both topics.

1.2. Customer Engagement and Support

Customer engagement is a powerful success strategy that allows businesses of any size
and industry to collect an ideal frame of data, intended to improve their decision-making
capacity. Ideally speaking, opting to improve customer experience is a gateway to
optimize operations performance as well as brand impressions. When customers have a
satisfactory experience, they are more likely to make a purchase, but it doesn't always
happen immediately. Sometimes customers have to experience your brand many times
before they place an order. On the other hand, it only takes one negative experience to
discourage customers. It's essential to note customer experience and customer
engagement are sometimes used interchangeably, but each has its distinct role in the
customer cultivation process. There are some tried-and-true strategies to get you started:
 ● Share your company’s story, mission and vision

Stories are memorable and relatable. They give customers a reason to believe in your
company. Humanize your brand with messaging that highlights your mission, vision, and
story. Help customers understand your why for the business. Be sure to incorporate your
customers into your story and give them a starring role: Take the opportunity to relate,
listen to their goals and frustrations, and ultimately form a shared vision.

● Personalize interactions

Generic customer experiences blend into the noise of ads, email newsletters, and social
shares. You want customers to feel like they matter and aren't just one of many. The key
to a successful personalized experience is listening, and providing customers with the
unique touches that connect with them. Use data and customer surveys to gain buyer
insights and tailor customer interactions to their liking, focusing on preferred cadence,
format, and how they're best served. From custom communications to curated online and
virtual events, create personalized customer experiences that let consumers know that you
are in tune with their needs and interests. And remember: sometimes personalization
doesn't register with prospects (a key insight that can be gained from collecting data), so
don't force it!

● Practice active listening

Customers are very vocal about what they want, so listen. What are they saying and not
saying about your business? How do they compare you to your competitors? Make it easy
for customers to provide feedback, share their experiences, record responses, and follow
up. A timely follow-up communicates to your audience that you've heard what they said,
and you're committed to improving the customer experience. When confronted with
unfavorable feedback, be sure to listen to solve the problem, not just calm the customer
down.
 ● Offer lots of helpful content

Your customers don't buy products; they buy solutions. Customers aren't as likely to
search for your specific product as they are to seek out answers to common questions or
challenges. Providing helpful, authentic resources to address these needs positions your
company as a solution. Distribute content across channels to reach all corners of your
customer base. Create videos, blogs, and social posts that share proven tips and practical
techniques that your customers will find helpful.
Producing relevant content will also keep you top of mind. For instance, flagging key
feature/product updates or industry news for existing customers can help ensure they'll
continue to look to your company for answers. Be sure that you're continuously
reviewing content performance to assess customer response and modify your approach,
when necessary.

● Collect and address feedback

User feedback is a way to gauge your customers' satisfaction. Collect a blend of

technical, quantitative data (through your CRM, sales engagement platform, etc.) and
anecdotal, qualitative feedback to fully understand your customers' experience.
Implement a system of checks and balances that ensures follow-up and proper
communication. Remember, even if negative, feedback is an opportunity to learn more
about the customers and make adjustments that will increase your success.

1.3. Sales Team Training and Motivations

Inadequate product or service knowledge and lack of sufficient effort are two main
reasons why sales personnel fail. Rather than simply blaming the sales staff, a savvy
small-business owner will first analyze business processes and take training and
motivational programs seriously. New-hire and ongoing training and motivation are both
essential to increasing chances for success of sales personnel and increased business
profitability.

● Sales training should incorporate both the mechanics and reasons for selling.

A training strategy such as customer relationship management instructs sales personnel

on what to do but doesn’t explain how. Just as important, for example, is training that
tells sales personnel how to develop an effective solutions-based proposal and how to
demonstrate a product in a fashion that reveals the best solutions to a customer’s problem
or problems. A comprehensive training program that takes a trainee through each step of
a sale demonstrates the selling skills necessary within each step and sets the stage for
sales success.

● Motivating salespeople to work toward and ideally exceed organizational goals

and milestones is a crucial consideration for organizations everywhere.

The responsibility of each individual and the sales team’s overall capacity to generate
revenue by selling products or services makes their productivity and engagement a top
priority for effective sales leaders. You already know that working in sales can be
challenging. Persistence, confidence, and hard work are required to be successful in any
sales role, and it’s easy for sellers to become discouraged when prospects just aren’t
biting.

That’s why without adequate motivation, sales teams are less likely to perform at their
best. Keeping sales teams focused, engaged, and confident is essential not just for
meeting your quotas, but for keeping your valuable team members happy and engaged.
The benefits of improving motivation for sales personnel are endless, but here’s how
motivation can help your salespeople meet personal, team-based, and company-wide
objectives. There are some common ways to motivate your sales team

● Build trust
Building trust is one of the most important methods for motivating your sales team. If
you can do this right, it will be a strong foundation for all the other ways you can
motivate the team. But why is trust so significant? If employees trust leadership, their
productivity, team unity, and career satisfaction will increase. If there’s a lack of trust,
that will lead to lower engagement, higher employee turnover, and an overall decrease in
performance. We all know when we have an inspiring leader that we believe in, we’re
more likely to be dedicated to our work — that’s why building trust can have such a
positive impact on sales team motivation.

● Get in the trenches

This goes hand-in-hand with building trust. Show your team that you understand the
work they do on a daily basis. Get involved, and when they see you working hard next to
them, they’ll be more motivated — and achieve better sales results. Send them a lead.
Cold call with them. Strategize on a deal together. Be a hands-on leader. Spending time
with your team will also make it easier for you to coach them, provide valuable feedback,
and keep them encouraged throughout the day.

● Set goals and celebrate when they’re accomplished

If you’re working closely with your team each day, you’ll be better equipped to help
them set SMART goals. These goals can be big — you should push them to get out of
their comfort zones. However, by working together, you can also make sure their sales
goals are realistic. After they set goals, try to remember when certain milestones are so
that you also celebrate them along the way. Hitting a big goal is cause for celebration, but
don’t forget the small wins. This is important in sales because not every day ends with a
huge close. It can be easy to get caught up in the bottom line. Make a habit of celebrating
the activities that get you to the big wins.

● Offer opportunities for growth and development

Talk to your sales reps about their strengths, their plans for the future, and upcoming
promotions. Build plans around performance and interests. But don't stop at just offering
career opportunities. Offer your reps the opportunity to truly thrive as whole people while
building careers in this demanding profession.

Many sales reps are struggling with the changing sales landscape. Traditional sales
investments focus on productivity tools and ad hoc training, rather than building the skills
and behaviors that ultimately impact performance. At BetterUp, we believe supporting
sales leaders in building the mindsets and behaviors to thrive and inspire will help them
motivate and coach their teams to succeed personally and professionally.

● Offer financial incentives

If you want a simple way to boost sales team motivation, monetary incentives could be
the way to go. These could include spot bonuses, contests, or higher commissions. You
could even adjust compensation plans completely for top performers. Rewards are a great
way to power your team through periods of low motivation. Offering a financial incentive
is a great way to make an immediate impact on your team — but don’t fall into the trap
of thinking it’s all they care about. We'd be lying if we said money doesn't still matter,
but it isn't all that matters. People have walked away from tremendous compensation
packages because they didn’t feel appreciated or valued in the ways that matter to them.

2. Product
2.1. Product/Service Improvement
The business's reputation improves as a result of the high quality of its products and
services, which not only retains familiar clients but also attracts new potential customers.
Improving product quality entails boosting a product's usefulness, longevity, and safety,
as well as lowering environmental pollution, conserving resources, and raising the value
of an output product. Improving product quality also involves increasing product
usefulness, meeting consumer needs, and lowering costs per unit of product through
perfecting the innovation process, enhancing operations, and lowering costs. Waste,
defective products, or products that need to be repaired. Businesses' earnings will rise as a
result of this.

Improving products and services helps businesses increase product consumption

efficiency and maintain sustainable development in the market.

2.2. Ensure product prices drive profit margins

Stores aim to keep their pricing down by offering incentives or making their product
more appealing than the competition. Retailers frequently sell products that are more
affordable than the original without sacrificing quality; examples of the most popular
include Great Value from Walmart, SE Grocers from Winn-Dixie, and Publix Brand by
Publix. Customers are enticed to shop at chain stores since they provide even more
affordable options. The demand for some products increases based on the time of year,
holidays, or unanticipated occurrences such as natural disasters; this is leveraged by
businesses to boost inventory of that product and offer it at a special price.