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Plan of Action to Increase Sales in Your Online Business



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5 Laws of Marketing ROI - By Aaron Hoos

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The goal of any business is to earn a profit. Businesses achieve that goal by generating more revenue from sales than they pay out in expenses. So, if you run an online business, how can you increase sales?

Here is an action plan to increase sales:

1. Ensure that you have identified your target markets fully.

Build out personas (a description of a typical customer written as if they were a real person) to describe who your target markets are and what problems they have. Give them a face and a name and a personality and a back story. It makes it far easier to sell to someone when you "know" them. Create a persona for each target market you have.

2. Outline your current sales funnel.

Your sales funnel is the process that someone goes through, from the very beginning of the relationship when they first learn about you and what you sell, all the way through to the point where they buy from you and you deliver the product or service to them. What are the steps along the way? What are your prospect's motivations at each point? (Hint: Earlier in the sales funnel, your prospect's motivations are often to learn more about the solution you offer. Later in the sales funnel, your prospect's motivations are to make sure your product or service is the right fit for them).

3. Optimize your sales funnel to improve the effectiveness of your marketing.

Once you've outlined your current sales funnel, look for new marketing opportunities based on who your target market is and what their motivations are in each step. A prospect who is looking for more information will respond very differently to marketing content that helps them learn more versus a prospect who is much later in the sales funnel and is comparing your solution against a competitors' solution.

4. Test new marketing activities.

Now it's time to test new marketing activities. E-businesses have a number of online marketing options. Here are a few to test:

None of these techniques are shockingly new. Many of these techniques will probably be familiar to you. If you have struggled with success using a few of these, you might consider changing the message and trying again or testing other methods to see if they work more effectively for your target market.

5. Start marketing.

Now that you have tested your marketing and found a few options that work effectively for you, start marketing consistently. Go for quality and quantity. Avoid spamming but work to be truly helpful within the marketing channels you choose. Remember: Each marketing piece is not a transaction in and of itself that will sell your prospect. Rather, it is part of your larger sales funnel and the goal of each marketing piece is to move the prospect toward a sale.

The key is quality and consistency. Writing two or three articles every month or two, with a once-a-week tweet isn't going to build the relationship with the prospect to move them forward in your sales funnel. To provide quality and consistency, brainstorm 3 months of content in advance and always keep a list of content ideas a quarter of the year ahead. That way, you're never at a loss for ideas.

6. Increase your marketing.

It may seem like a cliché but it's true: Sales is a numbers game. You need to get more people into your sales funnel and you'll convert more into customers. So once you have made your marketing more effective (in the above steps), then it's time to increase your marketing. Test out the impact by doubling your marketing in one month. Pay attention to the period between your doubled marketing and when your sales increase. In theory, doubled marketing should double sales (although there are other factors that might be present, which could dampen or increase this number, such as the time of year or the state of the economy). But doubled marketing should increase sales.

7. Keep tweaking for more sales.

If you've increased your marketing as described above, you should see an increase in the number of prospects and an increase in sales. However, there are scenarios when this might not be the case. If you see an increase in the number of prospects, but not an increase in sales, take a look at the following things:

8. Get other people selling for you.

Once you have gone through the above steps and make sure that your sales funnel is as optimized as it can be, then it's time to ramp up your sales force. Create an affiliate program that shares profit with other people who promote your products and services. Empower other people to sell by also providing them with marketing content and training to help them sell more. Keep some profit for yourself (of course) but generously incentivize your expanding sales force so that the more they sell, the more money they make.

The internet levelled the playing field, making it possible for many small businesses to finally compete with big, established businesses. But this advantage came with a draw-back: There is now so much competition that prospects have more choice, which makes it harder for you to sell. Fortunately, by following these 8 steps, you have an action plan to increase sales.


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Free PDF Download
5 Laws of Marketing ROI - By Aaron Hoos

Name: Email:

About the Author: Aaron Hoos

RSS for Aaron's articles - Visit Aaron's website
Aaron Hoos is a business, finance, and real estate writer. He specializes in helping entrepreneurs develop profitable sales funnels and discover new opportunities and strategies to grow their business.

Aaron is also a speaker, investor, and serial entrepreneur, and he has worked as a licensed stockbroker and sales manager. He holds an MBA in Strategic Management, which included studies at Harvard Business School, and he's the creator of the Sales Funnel Strategy Matrix (TM).
Click here to visit Aaron's website.
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