Marketing & Sales Strategies for a Business

Global B2B buy sell marketplace: bytrade.com

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  Word of Mouth

  
  
  
  
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    Marketing research studies confirm that word-of-mouth marketing is a key influence for customers when making purchases. Promotions targeted at increasing word-of-mouth referrals are common in business. For example, many companies launch "Tell-a-Friend" contests that entice customers with prize incentives in exchange for listing the names and contact information of multiple friends who may be interested in a product or service. Prizes may include free vacations or discounted products.
    
    

    
    
  
  
  
  

  Overcoming Objections

  
  
  
  
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    Sales representatives rely on effective communication with clients and customers in order to be successful. According to Robert B. Miller, author of "The New Strategic Selling," sales professionals who understand their clients' businesses are more likely to maintain credibility throughout the sales process. Businesses train their employees to research before selling to clients so that the sales professionals can accurately overcome any objection posed by the customer. For example, a sales professional can learn through research that a branch in a company is closing due to budget cuts. When the sales professional presents a product or service to the customer with this fact in mind, he can address the customer's budget sensitivity and explain how the product makes up for the company's lack.
    
    

    
    
  
  
  
  

  Feedback Loop

  
  
  
  
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    Businesses use marketing surveys to measure customer perception and needs. Instead of making decisions in a vacuum, businesses can use evidence of customer needs prior to launching new products and services. Customers also can help make existing products better through opinions provided on surveys. These are conducted by phone, email and in person at special events or by random interception in public spaces. Successful marketing surveys help businesses avoid loss by accurately addressing the needs of their target markets.
    
    

    
    
  
  
  
  

  Identify Decision Makers

  
  
  
  
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    Identifying decision makers is critical before selling or marketing a business. For example, a manufacturer of laundry detergent will learn the primary decision maker of laundry detergent brands in a household before attempting to market the product. Sales increase proportionately when research is accurate. Companies employ various strategies for learning the decision maker for the purchase of a product or service, including observation, focus groups, and polls.
    
    

    
    
  
  
  
  

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