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Business Advice

Bring in more sales revenue

A sales strategy encompasses the planning of sales activities and optimising the marketing resources that are available to you
ST701 Editorial Team - June 8, 2010
By: Sheila Lim
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Bring in more sales revenue

An interesting newspaper advertisement caught my eye quite recently. Not only because it was prominently placed and attractively designed, but because the product featured – a shoe cabinet – was rather unique, and the advertiser claimed to be “Singapore’s first shoe cabinet gallery”. I thought it was a brilliant idea – after all, most families (particularly their female members) own a large collection of footwear and would surely need well-designed cabinets to store them properly.

To survive and thrive in an intensely competitive environment, small-business owners should focus on addressing needs and exploring niche markets, rather than perpetually resort to price-cutting tactics and sale events to attract customers. They should seek every opportunity to win more sales by creating smart sales strategies and tactics that will boost their competitive advantage.

A sales strategy encompasses the planning of sales activities, such as the ways to define your product/service benefits and competitive differences, and optimising the marketing resources that are available to you. It also includes methods of attracting your target consumers, stirring their interest and spurring them to take action to buy your products or use your services. Sales tactics, on the other hand, involve day-to-day selling activities such as prospecting target customers, selling processes and follow-up procedures.

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