All businesses need to keep their sale numbers up as high as possible to ensure that they are bringing in enough money each month to ensure they can cover all costs and still have enough money left over to make a profit. However, sometimes this isn’t always possible. Even though you might think that everything has been going well with your company’s operations and marketing strategies, there could still be periods during which your sales seem to tail off.
Even though you might not think that there is an obvious reason why your sales are dwindling, there probably is a cause for these poor sales. Sometimes, you just need to look a bit closer at your business to determine what that cause is. Here are a few common reasons why a company’s sales might dip every so often. Thankfully, most of them are simple enough to recover from.
Shake-Up At Management Level
Any issues at the management level of a business can create a trickle-down effect, and the consequences can often be felt throughout the organization. Even something that shouldn’t be too problematic, such as a manager resigning and a new professional taking their place, you might be surprised to find just how disruptive these changes can be. They can also affect areas of your business that they aren’t necessarily linked to, including sales. It’s just unfortunate that the trickle-down effect will disrupt most departments, so your sales won’t be immune to any changes at management level.
View this post on Instagram
*Stop wasting your money on the “boost” button!* • Sure the boost button can definitely provide results, but if your budget is tight- do not hit boost! • Come up with a strategy that works or work with someone who knows how to make your budget work! • Running ads from Instagram always, always works better if you set them up from the Facebook Ads Manager. • Happy advertising ? • • • • • #socialmediamarketing #cincysmallbiz #leadgeneration #businesstips #womenhelpingwomen #womenhelpingwomenentrepreneurs #marketingstrategy #marketingdigital #cincinnatismallbusiness
Ideally, your company’s marketing needs to be consistent at all times. There always needs to be a current strategy or campaign that your marketing department are implementing to ensure that your company is always visible to the public. If your business’s marketing efforts ever dip at any time, then you might notice that the quality of your marketing gets slightly worse. This will lead to fewer sales as it won’t be tempting any consumers to come and try out your brand. If you feel that your marketing campaigns need a bit of a revamp, you might want to invite an external marketing agency to come and collaborate with your in-house team.
Forgetting To Follow Up
Most of your sales team will be busy every day with contacting potential clients and cold-pitching to the public. This is hard work and I’m sure that most of the team will have a seemingly never-ending list of leads to contact. However, just contacting everyone once isn’t enough and this will rarely lead to any sales. Your sales team need to always remember to follow up on any leads that they have made contact with. This will then remind the lead about your company and can encourage them to go through with a purchase.
At the start of every year, you should be making a few different business forecasts, including a projection of your potential future sales. It’s also important that these projections are regularly updated to reflect current data and figures.However, if you use bad data or make some mistakes while creating these projections, you could end up with some incorrect forecasts. If these overestimate how many sales you are estimated to make through the year, then there is no way your real sales figures will live up to the forecasts. This could reflect very badly on your company. So, it’s a good idea to use a sales management CRM to help you manage your current sales figures and turn them into a reliable forecast. These kinds of CRM can also give you other useful insights, such as how you can go about increasing your annual revenues.
Can you remember when the last time you offered training to your sales team was? If it was a few years ago, or you can’t even remember when you last trained the department, it’s a good idea to organize a course or one-off training day for them. It’s important that you stay on top of all your staff’s training so that they are continually at the top of their game. If you let training slip, then so will the standard of their work too. Ideally, you need to offer your sales staff at least one day of training each year so that they are always up to date with the current trends and best practices that are dominating the world of sales.
Bad Online Visibility
It’s also a good idea to try to stay on top of your company website’s SEO. Many entrepreneurs think that they only have to work on the site’s SEO when they are in the process of creating the website. Unfortunately, though, that isn’t the case. Ideally, you need to keep on working on the SEO throughout the entire lifespan of the website. Good websites should be regularly maintained or else their SEO will become useless. So, if you haven’t’ worked on your site in a while then there is a good chance that your company aren’t as visible online. Fewer people will be stumbling across the site because it won’t be ranking high in search engine results. And that means fewer people will be buying your products or services.
Aiming At The Wrong Target Market
Every single product or service on the market will have a set target audience. These are the people you need to sell to. If you aren’t 100% sure who is in your target audience, then you can carry out some market research to find out. Once you know, you then need to start aiming all of your marketing at them. If you end up targeting the wrong kind of people, then your marketing won’t be having a positive effect at all. You’ll just be pushing your product or service onto people who aren’t that interested in it at all.
As you can see, there are quite a few reasons why your sales might start to dwindle. Hopefully, you’ll be able to turn things right around before it’s too late for your business’s revenues!
Related content from StrategyDriven