Sunday, 22 July 2018

Information and commentary for the small business banking industry

Show your small business customers how to increase sales

01 Jul

The best advice

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.

More sales = more money – the basics

People who are new to running their own business may not be aware of how to increase their sales. Experienced business owners may have become so bogged down in other issues that they’ve forgotten some of the basics.

So what you can do is walk them through some of these techniques:

  • Know their target market – all too often, small business owners lose touch with their customers and their buying behaviours. If they don’t know them, they can’t predict what to offer them. Encourage your small business clients to get to know their target market better, so they can re-focus their marketing strategy on their customers’ needs.
  • Build a database of ideal customers – these are people in their target market who might be interested in buying from them. They can do this by asking current customers to refer friends, family and colleagues, attending networking events and making the most of their social media platforms. Here at TSBC, we’ve got content around developing effective customer databases.
  • Well-trained staff – it’s essential that small business owners and their staff are knowledgeable, friendly, helpful and confident. If customers trust the people who run and work in a business, they’re more likely to buy from it.
  • Find out what’s wrong, and fix it – it’s important for small business owners to talk to their customers, particularly during the buying process. They should find out about their individual needs, problems and concerns.

Word of mouth is one of the best and most effective ways to increase sales. So talk to your small business clients about how they can ensure the customer experience they’re offering is exemplary. You can even turn a negative comment into a positive experience. If a customer has a complaint, and it’s resolved quickly and efficiently, the customer is going to tell other people how great the business was at understanding their needs.

And of course, impress upon your small business clients the need for follow-up. Once they’ve closed a sale, they shouldn’t forget about the customer. Staying in touch with them will help to build a better relationship, and keep that customer coming back.

Here at TSBC, we can offer you great content around increasing sales, improving profits and the importance of customer relationships. Contact us on sales@tsbc.com to find out how we can help you.


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Glen Senior
Glen is the founder and CEO of The Small Business Company, a New Zealand based agency that specialises in helping banks communicate with small businesses through content marketing. He has written a number of books on small business principles and is a sought after consultant and conference presenter.

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