13 September 2021
Are you one of the estimated 400 million small to medium businesses (SMBs) in the world? If so, you represent the leading source for jobs. Over 95% of SMBs account for 60-70% of global employment.
Company leaders are constantly striving to improve SMB sales. Keep reading to learn strategies to boost your selling acumen.
Why do customers choose SMBs?
Before you can learn how to improve SMB sales, you must understand why clients choose businesses like yours. This will allow you to best tailor your business to their needs.
It will also help you identify the pain points they’re trying to solve when choosing you. You can then better market to their needs.
Consumers feel drawn to businesses that offer a more personal and efficient service. Since SMBs are smaller, they’re more agile. With less “red tape,” they have shorter sales cycles.
This means the buyer receives their product or service quicker—satisfaction results in loyal, long-term customers who recommend your company to others.
Improving SMB sales: A step-by-step guide
As an SMB, finding the right sales solutions generates revenue. It also makes customers happy, so they provide you with repeat business in the future. You must know the steps towards improving sales to build a good reputation and optimize your operations.
1. Use Data-Driven tools
Using data-driven strategies provides marketing and sales teams with the information they need. The Kompass Smart Data App is a good choice for a professional tool.
It facilitates data integration into your CRM. It also allows you to update or enrich current databases such as Salesforce. This boosts your customer relationship management (CRM) via improved productivity and efficiency.
CRM project success is shown by the data quality and adoption rate. This data app gives you access to Kompass’s premium database. Thus, your team receives rich, real-time data to use in their sales tasks.
2. Target global customers
Kompass’s EASYBUSINESS gives you the advanced tools you need to compete in the global market. It helps develop prospects, generates leads, and then engages your targets.
Lead generation represents the cornerstone for all marketing strategies. A lead may be any business that expresses interest in your product or service. You may attract these prospects via advertising, phone calls, or your website.
When you generate leads the right way, you’ll find consumers most interested in your products. You can better target advertisements to those in your target sector and location. This means that if you want to target companies in other countries, you can see who is most interested and reach out to them via e-mailings or our Multi-contact option of EasyBusiness.
It also will ensure that you have a more comprehensive understanding of your market and how it varies from place to place. Ultimately, lead generation efforts and the better advertising that comes from them will let you expand globally.
3. Use Digital marketing solutions
Speaking of marketing efforts, it’s essential to use your leads and engage in digital marketing strategies.
Your goal shouldn’t be simply to drive any traffic to your website- it should drive relevant traffic to your site. This is where your leads come in. When you market online effectively, you can raise your web referrals by 93%.
Kompass’ Booster offers a unique search engine optimization (SEO) solution for B2B companies. This Global B2B Portal nets 17 million worldwide views each month, so you know that you’re getting an effective service that brings high traffic volumes.
4. Enhance potential customer’s first impressions
When customers are scanning the search results, first impressions are critical. Your business needs to give the immediate appearance that your legitimate and credible.
Customers are more cautious today due to the increase in “scam businesses.” You want to make prospective customers feel like they can put their trust in you. This is especially important when targeting importers and exporters.
5. Develop a quality online Company profile
Booster assists in creating a profile page that professionally showcases your business. The high-quality presentation tools make your company more attractive to B2B buyers.
You’ll have the ability to upload videos, company news, and catalogs. Be sure to include detailed information about your product or service prominently.
Making it easy for customers to find the answers they need keeps them engaged. This tool helps ensure that all information remains current which builds customer trust.
6. Use KPIs the right way
While it’s tempting to choose as many KPIs as possible and try to optimize all of them, this leads to a lot of confusion. Instead, select three to five trackable KPIs to focus on during a one-time frame.
Examples may include:
- Number of first-time customers or purchases
- Number of first-time inquiries or prospect contacts
- What percent of new inquiries result in new clients
- The total amount of new revenue
- Average spent to acquire a new customer
- Average customer lifetime value
Analyzing a few KPIs assists in developing quality improvement processes. This keeps your business at the forefront of market trend shifts.
7. Examine your ROI
In an ideal world, your business would have unlimited resources. This would facilitate a constant flow of sales engagements.
SMBs must work within their budget, time, and personnel limits. Thus, owners are forced to prioritize and compromise to work with what they have. Booster offers a solution to this problem.
Each month, you’ll receive an activity and analysis report about your audience’s behavior. You can review the number of messages received, calls, and site clicks. This data highlights your customer’s areas of interest so you can meet their needs.
This allows you to focus your efforts on activities that increase your return on investment.
Boost SMB sales today
SMB sales are a lifeline for not only the individual business but also the global economy. Kompass has Smart Marketing and sales solution to support SMB growth.
Contact us today and schedule a demo. We serve over 10,000 businesses in over 70 countries with local teams to offer close support.
Our databases increase efficiency and optimize the continuity of your value chain. We’re committed to helping you improve sales performance and help you meet export goals, so don’t hesitate to reach out.