The strategy for "Growing Sales Volume for a New Business Arm" focuses on three main approaches: expanding product awareness, enhancing customer engagement, and optimizing sales channels. The first strategy targets increasing exposure of the new business arm through comprehensive marketing plans, in-store promotions, and collaborations with influencers. For example, hosting events or workshops could help engage potential customers by showcasing the unique features of new products.
Enhancing customer engagement involves training staff and creating loyalty programs to build lasting relationships with customers. This could include organizing contests, setting up referral systems, and using social media interaction to spark interest in products.
Optimizing sales channels is about ensuring the new business arm is accessible and visible through various sales platforms. By analyzing customer data and streamlining e-commerce tools, businesses can identify and focus on the most profitable channels. Expanding distribution networks and maintaining consistent branding across all platforms ensure a seamless customer experience, which can drive strong sales performance.
The strategies
⛳️ Strategy 1: Expand product awareness
- Develop a comprehensive marketing plan to introduce the new business arm to current customers
- Conduct in-store promotions to showcase new products
- Leverage social media platforms to run targeted advertising campaigns
- Collaborate with influencers in relevant niches to increase visibility
- Host events or workshops within stores to engage potential customers
- Create informational content highlighting unique selling points of the new products
- Implement email marketing campaigns to alert existing customers of the new arm
- Use in-store displays and signage to draw attention to new offerings
- Participate in industry trade shows to reach a wider audience
- Offer product samplings or trials to increase customer interest
⛳️ Strategy 2: Enhance customer engagement
- Train staff members to effectively communicate benefits of new products
- Set up feedback mechanisms to gather customer opinions on the new arm
- Introduce a loyalty programme with perks for purchasing from the new business arm
- Engage with customers on social media by responding to queries and comments promptly
- Organise contests and giveaways to spark interest in the new offerings
- Create a referral programme to encourage word-of-mouth promotion
- Develop interactive content that allows customers to learn about products in an engaging way
- Host Q&A sessions or webinars about the new business arm
- Personalise communications to align with customer interests and buying behaviour
- Utilise CRM tools to maintain ongoing relationships with interested customers
⛳️ Strategy 3: Optimise sales channels
- Analyse customer data to identify the most profitable sales channels
- Expand distribution network to include new retail locations or online platforms
- Ensure that all sales channels feature consistent branding and messaging
- Invest in e-commerce tools to streamline online purchase processes
- Offer exclusive deals through less-utilised sales channels to encourage their use
- Optimise logistics and supply chain management to ensure product availability
- Use analytics to track sales performance across different channels
- Negotiate partnerships with channel partners to improve sales reach
- Incentivise sales staff to drive performance in underperforming channels
- Continuously review and adapt sales strategies based on market feedback
Bringing accountability to your strategy
It's one thing to have a plan, it's another to stick to it. We hope that the examples above will help you get started with your own strategy, but we also know that it's easy to get lost in the day-to-day effort.
That's why we built Tability: to help you track your progress, keep your team aligned, and make sure you're always moving in the right direction.
Give it a try and see how it can help you bring accountability to your strategy.
