Every business owner wants his business to thrive so that it helps in leading a life of his choice. E-commerce businesses are the best bet for such entrepreneurs because they can run on autopilot once you settle vital tasks at the beginning of the business journey.
E-commerce is a huge market, yet it will always be easy to start an online store and make revenue. The fact that in 2017, 1.66 billion people worldwide bought goods online, shows how big the market has become.
If your online store is doing well, have you thought about turning it into the next Amazon? If you haven’t, now is the time to ponder over it. What are you giving your customers that will bring them back again to your store?
The potential to make your business flourish is always there if you utilize it. Jeff Bezos could let Amazon be a bookstore in a garage if he had not realized the potential in his e-commerce efforts. Sales management is a strategy which can make sure that you reap maximum rewards from the traffic coming to your site.
Even if your site is beautiful and you have a knack for closing deals faster, is that process sustainable? Sales management will show you the way to maximize your e-commerce profits. Use the sales management techniques to push a little higher every time, from 5 percent to 10 percent extra revenue. More revenue will enable you to invest in the expansion of your business and dealing with critical issues that may be halting your progress.
Here are some reasons why sales management is the secret to growing your e-commerce business:
1. Product development
A sales management program keeps your customer service staff close to the customers and keeps an eye on the competitors at the same time. Your competition is also a determinant of the relevancy of your product.
Adding new products, continuing a product line, removing some features from customer feedback can all lead to improvement in your sales numbers. You must conduct regular checks on what you sell and record that feedback. This feedback will be the key to your business success. The more you value your customers, the higher will be your profit margins.
LeatherSkinShop is an online high-end leather product store that prioritizes customer feedback over excessive marketing. These testimonials and ratings have a significant role in convincing other buyers to stop and take a look at their range so highly regarded by consumers.
2. Improves your team
There is no use of a good sales plan if the people implementing it are undertrained or demotivated. A sales plan is as good as the people working on it. The integral part of a sales plan is to recruit, train and manage your sales team.
You should work on hiring the right staff members, training them, expanding their knowledge of products, improving lead management and writing briefs and helping them implement work effectively.
Shopify is a leading e-commerce platform. Its employees deal with hundreds of customer issues regularly. Recently, the team took a challenge to launch their product. They researched extensively and concluded that the customer's trends lead to the popularity of Matcha green tea. They developed a brand called Hello Matcha. In just three days, the team grew above $900 by just playing around with their idea.
When you empower your sales team with the right tools, they can support your business with great ideas and effort.
3. Better decision making
In e-commerce, often your best selling products may be providing you low-profit margins. It leads to low-profit margins and a burden on the administration department. With the help of detailed sales reports, you can get an idea about production costs, sales expenses, and profit margins.
For example, a product in your store that has a low margin with high volume might get you high-profit margin. It is inevitable to keep such a product in your store. Sales management will look at the contribution in profits, cost of opportunity, and impact on product operation.
The owner of Black Milk Clothing found out that the success of his brand largely depended on his loyal fanbase. With an active Facebook group of these customers, Black Milk Clothing grew to a cult-like community of people who loved a brand.
Not only does this contribute to more sales, but also motivates the customers to keep talking about the brand and coming back to the store. Sales management can uncover surprising facts about your business that you couldn’t have known otherwise.
4. Automated sales management
While manual sales management has been a deal for many years around, automated tools have made it easier to dedicate tasks in the sales department. Automated tools take good care of your sales pipeline template by kicking off your lead placements according to a plan.
Salesmate is one of the smartest sales management tools out there, with dozens of integration options available with the most popular tools in the world. It takes care of your entire sales process and automates everything, so you don’t have to do it manually every day. Your team can use this tool to manage CRM and other sales goals’ tracking functions on a daily basis.
The company provides detailed sales tips for small business owners and affordable plans to close more deals through relationship building.
When you adopt these simple management tactics since the beginning or in the middle of your business journey, you will ultimately see some positive results. It depends on how driven you are and your right decisions for your online store. Remember to learn from the mistakes other people have made in your field and adopt strategies that can steer you away from making those mistakes again.
In the end, whatever you do, don’t stop marketing or promoting your business. It has a fantastic way to getting you more sales. Desperate times may urge you to take decisions like cutting down on marketing costs, but these decisions may cause your business more damage.
If you think you can’t set aside a huge budget for marketing and sales, leverage user-based content, and word of mouth marketing. A creative entrepreneur never stops learning and creating something new.