10 ways to increase sales volume
Sales volume measures how many units of a product your business sells during a particular reporting period. Sales volume doesn’t break down how much income your company is bringing in from product sales. However, knowing your sales volume can tell you what products are and aren’t selling, which is worthwhile information for business growth.
Know the necessary qualities and differentiators of your product.
When you’re looking to increase sales volume, you’re inevitably looking to move more units of your product to be sold. To do this, you need to have a rock-solid understanding of the product’s key features and distinguishing properties.
Keep customer benefits front-and-centre.
Anyone in the buyer’s seat of business has one central question — “what’s in it for me?” When someone is looking to make a gain, they want to know what they are getting in exchange for their time and money.
Identify ways you can exhibit those qualities to show how the customer will directly benefit. Ultimately, customers want to make purchases that will save them time or improve their quality of life in some way.
Thoroughly qualify your prospects.
Are you sure you’re selling to the right individuals? If you notice your sales volume is decreasing, it could be a good indication that you need to restore essential aspects of your sales process and assuring you’re selling to the best people is an excellent place to start.
When qualifying prospects, you want to reach those who are the best fit for your product and are most likely to make a purchase.
Understand your customer’s pain points.
When you’re striving towards the sale, you’re eventually seeming to pair your consumers with products that can act as a resolution to a problem they’re encountering. When you understand what pain points your customer is facing; you can draw similarities between their difficulties and why your product is the right solution.
Work closely with your marketing team.
In addition to thoroughly qualifying your prospects, maintaining an alliance with your marketing team to ensure the right leads are being delivered into the pipeline is necessary.
If you have specific sales volume goals, make sure you share them with your marketing team when your marketing team knows what products you want to focus on selling and why they can produce content and appropriate material to sustain your goals.
Focus on improving sales velocity.
Sales velocity is the measure of how fast you can drive prospects through your sales pipeline to produce revenue. The quicker you can do this, the more possible customers you can reach. By improving sales velocity, you can probably achieve more customers which can confidently impact your sales volume.
Re-assign your sales territories.
If your sales team relies on region supervision as part of your strategy, you may want to take a look at how your regions are selected to guarantee you have your most dynamic sellers authorised to areas or accounts that have the most sales potential.
Motivate and incentivise your sales reps.
Depending on your organisation’s salary structure, giving financial incentives to sales reps can inspire them to move more product. If updating your salary structure isn’t an option at the moment, you can consider other ways to boost sales rep morale.
Implement customer rewards.
While we’re on the topic of incentives, exploring ways to incentivise your customers can also be beneficial. Whether you offer discounts for consumers who buy multiple products at once or award customers who refer to other buyers or other incentives, your existing customers can be an excellent resource for spurring sales volume.
Focus on top buyers.
When it comes to driving sales, prioritisation is everything. Please take a look at how you and your reps are using their time. Are the top accounts those that are likely to buy in more notable amounts or on a repeated basis, being made a priority?
Distinguish those who are more likely to make higher or repeat purchases and keep attempting to convert and preserve these customers a priority for your team.
Click here to know how growth driven sales strategy impacts your sales process.