Business is one of the most desired things humans want to do, but not everyone has the capability to do and accomplish a profitable business. The word startup or business is like excitement to many people, but the journey of sailing with it to a perfect business is very hard.
According to research, almost 90% of startups fail annually and about 10% of new businesses don't survive the 1st year. All these failures include some things, which are negligence and poor understanding of the market and business.
The thing that heightens and extends your business is sales. Sales are the main source of food for your business. The more you give it to business, the more it grows.
Are you going to be one of them? Of course not. Because I'm here to give you 4 top ways to boost your sales up to the sky.
1. Invest in Marketing
Investment in marketing is one of the crucial things that matters in today’s business. Especially after the boom of e-commerce, marketing has become a core part of a business’s profits. The more it matters, the more people overlook or underrate the fact that marketing can drive a load of sales and brand recognition to their business.
If we talk about how much we should spend on marketing, it depends on your revenue. But a general estimate of about 6 to 14 % of your total revenue that you need to invest in marketing.
2. Brand Credibility
Brand credibility is also one of the most important things your business needs to become a well-sustainable and trusted one. Let’s take our example. We won’t buy a thing that we know will not last for long and is not value for money. Now look at your product from the same point of view and question yourself, is this worth it?
- Make your brand more trusted among the people that folks choose your product blindfolded and they have maximum trust in your product. It will do nothing but good for your business.
3. Find and Target Your Customers
The main thing that new startup owners do is blindly spend on marketing without knowing their customers. It is like you are blindly trying to catch a fish in a vast ocean without knowing in which part it is present.
The thing you should do before doing some crazy marketing is to find customers who require your product. It is to find a part of the ocean where that fish resides. When you become aware of this, then congratulations my friend, you now know your customers and start doing marketing for that particular customer.
4. Customer Service
A theory becomes law after passing through a series of questions and experiments. And after continuously applying it, theory becomes law. Similarly, a product or company becomes trusted after eradicating their questions about your product. And the only correct way to ridicule them is good customer service.
Conclusion
All these things come to a single point, which is your way of understanding your business. If you understand your business, then you can easily calculate your marketing expenses, customer acquisition costs, and other things.
Just don't be a blindfolded lion circling a pole, thinking that it has come so far, but in reality, it didn't proceed an inch.
