How to increase a company's sales

All businesses normally plan annual growth, although not all of them achieve it. Increasing a company's sales in 2022 is very important because it is a sign that the company is evolving and is healthy.

Currently there are different strategies to increase sales that can be applied to all types of companies and sectors, although the nature of the business will determine which strategies will be most effective and for whom.

Here we bring you 5 strategies to improve your company's sales based on: the sales goals you want to achieve, how long it will take to achieve them and when they are expected.

5 types of strategies to increase sales

1. - Hire adequate, trained and motivated personnel.

First and foremost is hiring. Traditionally, companies focused on hiring the best talent. But for marketers, the best talent are those with a great education.

So whether you have a team of 1, 10 or 100 people, you must train them all to be on the same page to establish basic sales strategies. To do this you must identify the mission and values of your business and how you want customers to perceive it and the people who work there. Remember that without a strong team, you will lose sales.

In addition, different studies indicate that workers perform better if they are motivated by showing their appreciation by working harder and better to achieve the company's objectives.

2. - Analyze competitors

Doing market research on your competitors' products can help you create a solid sales strategy that differentiates your product from the rest. To do this you will need to consider the following points to analyze your competitors:

• Price: The first thing you need to know is how much your competition is charging for a product similar to yours and whether they can help you sell the product more accurately based on price.
• Value: Value is the features and amount of benefits a customer receives for the price of a product or service. By identifying the value of your competition, you will be able to position your product to be more valuable in your industry.
• Promotions: See what promotions companies run for their sales and examine which ones are the best to work on to increase sales.

3. - Providing customers with privileged information

If you have a promotion or sale coming up, tell your customers. They'll come back and probably bring some friends with them, increasing your sales even more. And don't forget, you can give your customers insider information by emailing them, calling them or posting reports on social media about their industry.

4. Use KPI metrics

To compete in the world of sales, your team and your strategies must track the most important sales performance metrics for continuous improvement. To do this, your team must have data so they know what is needed at all times. Plus, you'll be able to set the right goals, hold people accountable for their numbers, and know how and when to course correct if your team is getting off track.

You can use key performance indicators (KPIs) to identify the causes of low sales volume. From there, you can create a strategy for improvement. Below are some KPIs to consider when you want to increase sales volume:

• Sales volume by location: this metric can help you find out which territories are buying the most of your product.
• Conversion rate: this indicator can tell you how often leads are being converted into sales.
• Units per transaction: measures how many products customers buy during each sale.

Related: Sales KPIs. What they are and which are the best

Related: Sales KPIs. What they are and which are the best

5. - Use tools to increase sales with a CRM

Many sales teams already have Artificial Intelligence integrated into their daily work to improve the sales process. According to a Salesforce study, 21% of sales teams were using Artificial Intelligence in 2018. And at this point, projections predict that by 2021 it will end up above 50%.

AI is transforming CRM tools by enabling a better understanding of the target audience and customer needs in order to better inform them, offer them products specific to their needs, and indicate when and at what price.

What is a CRM?

A customer relationship management system or CRM software, itself a feature-rich and fully functional tool, is currently undergoing a major transformation driven by artificial intelligence (AI). 

CRM systems are powerful data aggregation tools that enable companies to better collect, store, manage and centralize interactions.

With this information, companies can better understand their customers and develop new strategies to increase sales.

► GAMCO's Intelligent CRM can increase sales +24%

What are the leading international companies offering AI-enabled CRM solutions?

The CRM vendor market includes a wide range of solutions to support your business and increase sales. 

These are the leading CRM vendors that also leverage artificial intelligence technologies in their solutions:

• Adobe Sensei
• IBM Watson
• Microsoft Cognitive Services and Dynamics
• Oracle AI
• Salesforce Einstein
• SAP Leonardo
• Sugar CRM
• Zoho

This international list must include GAMCO, a pioneer in artificial intelligence and a benchmark company in Spain based in Madrid. Our Smart CRM (SAIL) for commercial and business optimization in the different commercial channels already has several success stories. Define what product or service to offer, to whom, and how: with what conditions, timing, promotion or campaign.

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In addition incorporates a module for predicting up to 60 days in advance the abandonment of customers and of products or services by these customers. 

It allows collecting quantitative and qualitative information, adjusting predictive models in real time, obtaining results and publishing those results to the company's current operational systems and its users when they need them.