Forming A Sales Strategy
 

Below we've detailed key items business owners should take into consideration when they need to increase sales. If you'd like more insight regarding sales, including market research, contact the Pace SBDC for no-cost, personalized business counseling.

The best thing you can do to improve your sales strategy is to write it down! We all have wonderful ideas in our heads, but they need to emerge onto paper in order to be critiqued.

  • Get to know your customers. If you have an existing clientele, ask them how they found your business and why they chose you. Settle on a target market and conduct research on trends & habits affecting that customer base. Contact us to access our research network.

    • Focus on the decision makers. For example, if you're selling to a business, find out what employee handles purchasing. If your product is for kids, focus on selling to parents.

  • Get to know your business. What value do you add over your competitors? What are your business' core principles and why should this matter to customers? Become well-versed not just in your own product or service, but in that of your competitors too. Preform a competitive analysis. 

  • Explore different sales channels. Will you sell directly to customers? To businesses? Will these sales be online or at a farmer's market or trade show? How will you get your product or service into the hands of your customers? It's best to zone in on one or two of these and meet your consumers where they already are.

  • Form SMART goals. A SMART goal is specific, measurable, achievable, realistic, and time-bound. An example would be a goal to increase sales by 25% among youth aged 18-24 by running 2 social media ads each week for the entire summer.

  • Create urgency. Market your product or service as an essential good that will drastically benefit the consumer. Turn a 'want' into a 'need'.

  • Become a thought leader. Start writing a blog, going to networking events, posting on social media, and doing other engagements that paint you as an expert within your field. Show that you're on the forefront of your industry.

Finished with your marketing plan? Send it to us (sbdc@pace.edu) along with our counseling form and we'll give you feedback. The Pace SBDC provides advice and guidance to NYC small businesses at no-cost.

Not based in NYC? Find the SBDC near you.