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10 Tips for Effective Business Secrets

1. Know your product or service

Seems simple, right? Yes, but unfortunately, too many salespeople, for one reason or another, have tried to sell without having a grasp of what they are selling. These individuals may have a certain degree of success in a good economy. But they are the first to fail when something goes wrong. You need to know what you are selling from top to bottom. You should have all the features and benefits on your tongue tip. If you don’t, you need to put this first priority.

2. Know your target market

Knowing who wants to buy your product or service is just as important as knowing what you are selling. You need to define exactly who is buying what you are selling and to specifically target them. This is especially true during a recession when you may not have a lot of money to spend on advertising and finding leads.

3. Know your competitors and your competitive advantage 

Your competition is always there, but they are sure to be more ruthless with fewer customers. Start by listing your obvious competitors and then dig a little deeper to discover anyone else who might be sneaking under your watch. Then find out what makes your business different from them and how you can stand out. Evaluate obvious advantages such as cost, features, quality or distribution. Do not underestimate other advantages such as position, reputation or social responsibility.

4. Become an Active Online Business Developer

Right now is not the time to wait for your phone to ring. Create your own opportunities by networking, advertising, making calls and chatting with leads. The more you reach, the more you will get back.

5. Mining for gold in your current customer database

Don’t underestimate the value of your existing customers. When business is slow, use the opportunity to call your loyal customers. To inform them of new services, special offers and volume discounts. You will probably be surprised how much business you get after you contact them earlier!

6. Cross-sell your products and services

This goes hand in hand with the previous tip. Always provide your customers other products or services related to whatever they buy. As long as what you offer is relevant, they’ll appreciate your suggestion and they can also suggest you to what you are offering.

7. Track progress and results

Without tracking your business processes and results, you’ll never know what works and what doesn’t. There are many easy-to-use customer relationship management (CRM) software programs out there that can help you keep track of your sales efforts from start to finish. Trust me. They are well worth the investment.

For example CRMVIET software – software exclusively for Vietnamese people, it is a tool to help you manage your business effectively. Especially, business managers easily check the business situation of each employee. 

8. Learn from your mistakes

Do you struggle with a certain market segment? Or, have you been burned by a particular customer over and over again? Well, there’s a lot to learn from these situations. Don’t keep slandering someone who won’t buy from you. Learn from these mistakes, and move on – quickly.

9. Be persistent

The old adage that sales are a number game is true, especially when business is slow. Persistence is one of the characteristics of all successful salespeople. Do not give up no matter how difficult the customer is. Strive to conquer customers successfully. 

10. Enjoy the process

Let’s face it. Not everyone is born to be a salesman. Sold for fun. You should enjoy the challenge and feel the thrill every time you acquire a new client. If you feel the same about sales, please be grateful. There are many others who are afraid of your job and enjoy doing something else. So, show your enthusiasm, enjoy the sales process and be successful.

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