National Entrepreneurs Day celebrates the intersection of entrepreneurship and salesmanship, highlighting the shared skill set essential for success in both fields. Entrepreneurs and sales professionals alike thrive on innovation, keen market understanding, and a relentless drive to succeed. These individuals build and elevate companies with a blend of tenacity, strategic marketing, and a profound grasp of sales dynamics. In entrepreneurship, sales acumen is not just beneficial; it’s crucial. Approximately 13% of all U.S. jobs (1 in 8) are in sales, emphasizing the vital role of effective sales strategies in organizational success.
Both entrepreneurs and sales professionals are at the heart of a company’s financial health. In a competitive market brimming with talent, standing out requires constantly evolving and innovative approaches to business growth. In the words of the 20th century management mastermind, Peter Drucker:
“The aim of marketing is to know and understand the customer so well the product or service fits him and sells itself.”
This principle is foundational for both entrepreneurs and sales professionals, who must adapt and refine their strategies to meet changing market needs. These include reassessing target audience needs and cross-selling complementary products.
Such tactics are vital for enhancing sales skills and entrepreneurial acumen, thereby boosting overall company performance.
1. Focus on solving problems, not selling
Though many sales professionals are taught that making the actual sale is the primary goal, helping the customer find the best solution to their problem is the ultimate mark of a competent Seller. A solution-oriented point of view centered around the customer’s individual needs will elevate you or your team’s mindset around this industry. Potential clients won’t feel pressured to buy something that fulfills your intention of hitting a sale’s goal and instead will gravitate toward an approach aimed at helping them solve an issue.
Showing value during the sales process and remembering that an individual is on the other end, not a data statistic, will make the process more meaningful and valuable to the prospect. The conversation should be less centered on a customer being “sold” to. Instead, it should feel like a natural dialogue headed by an expert (you) who’s trying to find the best solution.
2. Reexamine your audience and niche
At this point in your professional career, you’ve mostly likely created a service or product that speaks to a specific consumer base. If you find that your product is not reaching the audience that you’d like, it’s time to reevaluate. Take a step back and rethink what exactly your product offers, identify which audiences you truly need to speak to, and how your service differs from competitors. It may be best to relaunch your product, and thus your sales approach, to better appeal to your targeted niche.
Before officially restructuring your business methodology, identify the exact attributes of your clientele. Revisiting your customer profiles and studying them will help you evaluate what they liked or disliked, their decision-making process, and so on.
3. Use Social Media to increase efficiency
With over 4.59 billion social media users across the globe, Social apps have become a primary source for lead generation. With access to such a large pool of potential customers, it is no wonder that 78% of sales reps engaged in social selling outsell peers who aren’t. Social media provides you with connections that traditional sellers aren’t able to tap into.
To ensure greater success than you may currently have in the digital space, you must change the way that you use social media, too. Posting content isn’t the only way – be sure to reply to comments and share others’ posts. On-brand messaging, relevant content, and strong calls to action will further boost sales. According to 31% of sales professionals, social selling allowed them to build deeper relationships with their clients, further elevating their skills.
Thoroughly engaging on platforms like Facebook, Instagram, TikTok, YouTube, and Twitter are sure ways to keep connected with your core audience, as well as engage prospective customers.
4. Circle back to previous Customers
Completing a sale with a customer shouldn’t be the end of your relationship with them. At the six-month or first anniversary of a customer purchase, consider reviewing their account.
If they haven’t made the same acquisition, reach out to see how they’ve been enjoying the product. Remind them of the benefits or see if you can offer a new, improved service that will complement their previous one.
Keeping up with previous buyers not only engages your existing customer base, but also is an opportunity for you to boost sales.
5. Go deeper into the Sales Funnel
As we know, a Sales funnel is the visual process of following a sale from the beginning to the end. Or rather, turning a lead into a paying customer. It is important to have a sales funnel in place in an effort to maximize conversions and revenue.
Consider revisualizing your sales funnel with fresh, and improved, eyes. Gaining a deeper understanding of your company’s sales funnel will broaden your current customer-focused practices. Start with assessing your actual vs. target customer and customer retention efforts.
For additional help, feel free to bring in contracted help, like industry-leading marketing and sales experts, to help streamline the customer experience, creating a seamless process that encourages customers to come back. Additionally, consider branching out to current conferences and events to expose you to new audiences.
6. Upsell Complementary Add-ons
Places like the grocery store, gift shops, and even movie theaters do a good job of tempting you with extra products in the checkout line, right? Well, that’s for good reason.
Not only do strategically placed add-ons increase sales at little extra cost to the company, but they can increase customer enjoyment and confidence in their existing purchase.
Add-ons may be an untapped market that you haven’t yet fulfilled. Brainstorm ideas to come up with ways where you can take certain services of yours and restructure them as additional, premium offerings that aren’t included with the original service.
7. Utilize Customer Testimonials
Before going to a restaurant, don’t you sometimes read the reviews beforehand? The same process applies when it comes to customers trusting your services. Make it a point to speak to your current client base to capture the real value, preferably measured in dollars, that your product or service permits.
Combine multiple in-depth reviews from your clients, ask for permission, and piece together a testimonial page that highlights the results of your work. Often, through reflection upon a successful project, you might discover new opportunities to grow your network and expand upon your current skillset.
RELATED: An Entrepreneur’s Guide to Success
Conclusion
National Entrepreneurs Day serves as a powerful reminder of the symbiotic relationship between entrepreneurship and salesmanship. The success in both realms hinges on a shared skill set of innovation, market insight, and resilience. By embracing and refining these skills, both entrepreneurs and sales professionals can significantly contribute to their business’s growth and success.
The strategies and techniques offer practical ways to enhance these skills, ensuring that both entrepreneurs and sales professionals are well-equipped to meet the challenges and opportunities of the ever-evolving business landscape.
– Rachel Estes
(Staff Writer)
