Monday, 23 July 2018

Information and commentary for the small business banking industry

Helping small business customers to increase sales

08 Mar

As a small business banking partner, it’s likely that your small business customers are going to turn to you for advice, particularly if they’re experiencing financial difficulties. Borrowing more money doesn’t necessarily have to be the only benefit they can get from you – what if you could show them how to increase their sales, and subsequently, their profits?

It could be that focusing on closing more sales is something they’ve shoved onto the backburner while they deal with other problems. Of course, the problem with this is that they’re ignoring their best source of revenue.

So what you can do is sit them down and give them some basic advice on how to increase their sales. It could be just what they need to solve some of their financial problems.

Knowing their target market well, then building a database of ideal customers that can be used for analysis, ensuring they have well-trained, friendly and knowledgeable staff, and solving any problems are key factors when it comes to increasing sales. And of course, there’s word of mouth – the most effective sales tool any small business has. Talk to your small business clients about how they can ensure the customer experience they’re offering is exemplary.

Articles like the one below also make for useful reading.

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