How can you create a small business sales strategy that is resilient?

Retail is the industry that must be resilient. After two years of challenging, it’s now more important than ever – from Brexit to pandemic, the UK’s cost of living crisis, to the devastating war in Ukraine.

Small businesses need to make time for strategy and planning. A good sales strategy can help build resilience.

Do not put all your eggs in one basket

A well-thought out sales strategy will allow you to plan in many different ways. Many small businesses make the error of focusing only on one strategy when there are many ways to grow their company.

It is easy to get caught up in the latest social media trend. This can lead to wasting time that may not be productive. Although social media can be a great way to increase awareness about your business, it is only one tool in your toolkit.

There are four ways to increase sales

These are the four ways small businesses can increase sales.

1. Increase the number of people who come to you

2. Increase the number of people who buy when they come

3. Increase the number of people who come to you and encourage them to spend more.

4. Encourage people to return more often

These elements will all help increase sales and, if combined, they will make sales more consistent. If a business owner wishes to spend more time on TikTok activities, they must first decide which of the four goals they want to achieve. This is likely number 1, to get more people to join.

Retailers can look at all four points and not just one tactic to increase sales if they consider them. There are many ways to increase awareness and sales. You can work with a PR professional or learn how to do your own PR to get your products in publications and to tell the founder’s story.

SEO (search engine optimization) is another important area to concentrate. Half of all sales begin with someone searching the internet or entering a search term in a search engine. Don’t let this happen to you.

Collaborations are another great strategy. This allows you to grow your sales and reach new audiences by working with non-competitive businesses. Retailers can reach out to the most engaged segment of the partner’s audience and tap into that audience, which is highly likely to enjoy the product.

It is important to maximize online purchase potential. This can be done by including an abandoned cart sequence in your emails. Email marketing is an excellent tool to retain customers and warm them up. Retailers can send personalized offers to their email list.

These four methods of driving sales are interrelated – retailers who can get repeat customers will see an increase in average spend. People tend to spend more on the second, third and fourth occasions they shop with the company than the first.

Retailers who want to create a strong sales strategy must build their own customer base. This includes thinking about the entire customer journey. What is it like for the most loyal customers? What are the best opportunities for customers to purchase?

Product is the king

Retailers should be focusing on their product. A product business is driven only by its product. Marketing strategy can be great, but sales will not be achieved if the product isn’t. The product strategy is an important part of any sales strategy. Small business owners need to think about their top-selling products and which ones their customers will love.

Retailers must be able to understand their products and how to improve them. Retail product companies are in a game with probabilities and percentages – who is most likely to purchase their products at this moment in time? Does their product reflect this?

Monthly check-in

A method for tracking effectiveness is essential to an effective strategy. A monthly tracker is ideal – what are your targets for each month and how can you monitor them? A monthly strategy ‘check in’ allows business owners to make adjustments if necessary.

Small business owners should consider multiple avenues to reach each goal. They should also have clear goals and plans.

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