Today most SMBs are facing a situation of sales saturation; In this situation, one hits a wall in sales output, failing to achieve the periodic performance increments.
Here, even when you achieve sales improvement, you face setbacks on some other front, cancelling the original improvement. In these situations, sales tend to reach a state of stagnation, demoralizing teams and derail sales strategies. In order to overcome the stagnation stage, small businesses should focus on overcoming the following six hurdles of sales.
Requires building a retail Network
As the bulk of small businesses purchase come through retailer outputs, one needs to increase the number and participation of retailer outlets. There should be an increase in retailer space and number of retailer output. An old-school approach can help you discover small scale retailers and increase your product purchase, and the number of retailers means higher sales volume.
CRM-based retailer management allows you to manage and expand your network of retailers. You can also attain a better way of managing each retailer and managing optimal stock levels.
Products are out-of-date / Non-Competitive
For succeeding in a local market, your product needs to excel in side-by-side comparison with competing products. It demands all the products to be accurately dated across the product range. This means that an SMB enterprise is required to be conscious of related price ranges and dates.
With CRM-based retail management, you can simulate product level and available inventory dates across your network. This includes information about the rate of product sales. You can avoid the roll-out of outdated products across your retailer network.
Increasing customer participation
Whether you are selling to wholesalers or retailers, your product sales are determined by customer enthusiasm and participation. If your product doesn’t have a prioritized exposure or priority mention, you need to increase your customer participation. With incentivizing bulk purchases or setting up rewarding systems for regular customers, you can view increased customer participation, thereby increasing the purchase volume.
Competing with MNCs
Today, Market provides MNC competitors for almost all products and industry verticals. An MNC typically has a higher advertising budget and more budget for product development. For this, actually competing with a big corporate becomes a formidable challenge. Instead of the hard proposition of direct competition, one can focus on a smarter distribution cycle and a better retailer penetration to increase product identification.
Gaining Social Visibility across the Audience Base
If you are selling in a local or smaller geographical circle, having bigger social visibility makes the required difference. This also means that your product has constant visibility across social circles, allowing smarter penetration within a limited budget. The presence of multiple social media channels also provide an amicable means of competing with high advertising budgets.
Make Informed Sales Predictions
Your final product sale is a combination of multiple factors involved in your daily activity. If presented on an excel sheet, you will fail to form a connection and concerned insight. With sales CRM Software, you can view a graphical and visual representation of your sales output, getting a more informed picture. It makes sales CRM an incredible part of your daily sales activity.
If your business is struggling to overcome or figure-out the obstacle towards higher sales output, our customized CRM solution could make a substantial difference.