THE SECRET OF GREAT SALES WITHOUT SPENDING MONEY ON ADVERTISEMENTS

 

My business sales have grown 500 % in the last 7 years.  I have not spent any money on ‘advertisements’ during this period.  I would like to share with you how I have been able to achieve this growth.

 

Sales happen when all factors relating to the product, product quality, pricing, availability etc – these factors are well taken care of.  (  I will not discuss these factors in this article ).   We are assuming that all the above mentioned parameters are taken care of and that the product or service is saleable.    

 

There is no magic formula of great sales.  Great sales is simply a function of product knowledge, motivation, perseverance, ideation and follow up. 

 

The person making the sales should have complete product knowledge.  This applies especially if you are selling a technical product.  Product knowledge includes knowledge of the product and knowledge of all the parameters surrounding the sales.  It will include features, benefits, competitive edge of the product, competition analysis, what differentiates it, how is it better than other products in the market, delivery terms, credit terms, discounts on offer, after sales service, how your company fares as a seller etc.   You can answer all your customers query only if you have complete product knowledge.  Additionally, you know what your competitive advantage is.

 

Great sales are directly linked to the motivation of the person selling.  You can have a perfect product, but if the motivation is lacking, sales stay stagnant.  Many people make the mistake of not promoting their product.  They think that if they ensure that the product is right, the product will sell itself.  Now this is possible only in rare cases where is product fulfills a previously unlooked for need.  Most of the time, we have to shout for attention in an increasing competitive market.

 

While running my businesses, I personally focus on sales.  Although I have hired people to sell, I think it is very important to remain in touch with the end user.  The MAIN SECRET of great sales is FOCUS.  When you think that sales are important, you start focusing your energies on sales and then the ideas come, the how to sell comes. 

 

My method of selling is that I am

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SOME CUSTOMERS ARE BEST AVOIDED

 

Yesterday, I refused to take a good quantity order.  The customer wanted a very low price, long credit and had certain other stipulations.  He wanted the best at the lowest price.  Dealing with him was often unpleasant.  I refused because I don’t want this kind of customer anymore.   

 

Certain customers are most unpleasant to deal with.  They always want more from you.  In the past, I have bent over backwards for such customers because I have been wanting to increase my sales.  But I have found that such orders are not very profitable, because these customers negotiate so much that you are left wondering why you are executing this order.  They negotiate on price.  Then they negotiate on terms and conditions of the supply. 

 

In fact, these customers are expensive to service and best to avoid.  Low profitability is one point.  But how about the opportunity cost.  Let me explain how this comes about.  When you service such difficult customers, you go the extra mile to make sure everything is right for the customer.  In the process, you focus so much more on this account.  When we talk of very large orders from such customers, more of the organisation’s energy is devoted to servicing, maintaining and retaining this account.  Your production department, your sales people, your quality people, your entire staff is being extra sure for this account.  Hence, more time and energy is devoted to this customer account.  Now, in this time, additional orders could be catered to at a higher price and profitability.  Hence, the opportunity cost for such customers could be very high.  Seemingly profitable customers could be unprofitable because of this. 

 

It is not just the customer’s right to decide whom to buy from.  It is also the seller’s prerogative to whom he should sell.  Say no to unprofitable customers.