Tuesday, 31 December 2019

How to Improve the B2B, B2C and eCommerce Sales?

       
            When you consider the sales funnel, there are 3 types of traffic. Those are cold traffic,warm traffic, and hot traffic. The cold calling is to sell something when you are doing door-door sales, picking up the phone calling for businesses or trying to reach on social media etc., This is cold outreach called cold calling. It is hardest to convert the sales. The way of communication with cold traffic person is different than the warm traffic person and hot traffic person. Because, whenever you try to pitch the big package consists of 3 to 5 features, it is really hard to get that kind of sales. When you try to pitch something smaller or lower front end type of offer is good for cold calling. So, it is suitable for the people those who are aware of the problem they're are facing. But, they are not aware of you nor they are not aware of the products or services. Warm traffic are aware of the problem and you have started to develop the relationship with them but they haven't purchased anything with you. In the sales funnel, you can see that they have opted in email list and communicate with them. It is to develop a bond and developing the relationship with you. The hard traffic for the people those who likes you and trust you. They are aware of their problem, their solution and aware of yourself. They are taking some offer and are the buyers. The sequence of the sales funnel can be described as,

                           Cold Traffic ------> Warm Traffic -------> Hot Traffic
                             (unaware)                 (Aware)                     (Buyers)

       
         The Value Ladder helps you to convert the cold traffic to a warm traffic and the hot traffic.
The cold traffic comes from the blog post, social media updates, podcast, content videos, case study etc., In order to covert them to a warm traffic, we have to give some sort of Bait. This is  low tick front-end offer. Now, that offer can be a lead magnet through the cheat sheet, drop the email or free offering of the ebooks etc., This will bring them into your sales funnel eco-system and it is the warm traffic. You can develop the relationship by providing the low ticket offers of the physical products like product demos, branding videos, software plugin, free trails etc., Then, you start communicate with them and start selling the stuff. Warm traffic to the hot traffic by simply providing high-ticket paid type of people.
       Sales funnel is basically a marketing message in very specific format. Funnels are selling the physical or digital products. It is used to generate the leads and make the sales. If you are selling the digital product, you have to give the value. There are different types of funnels and different kinds of user journeys depends on your product. For ex, if you want to sell the ecommerce product, there are different kinds of funnel to think like membership funnel, application funnel, lead magnet, summit funnel, product launch funnel, trip-wire funnel, store front funnel, hero funnel etc., The most popular is trip-wire funnel which is basically low ticket front-end offer. Because, you are marketing the cold traffic. Cold traffic doesn't know about you, but they might aware of the problem and don't know about the solution. Our goal is to acquire the customer and we might lose the money on the front end and deliver the value. But, you need to keep the big picture in mind to look up the up-sells and follow up the funnels that you can squeeze more of the relationship.

Opt-in Funnel: It is obviously that you are grabbing the contact information of the lead. Most funnels have the opt-in elements like ecom, webinar etc., After the opt-in, you make them an offer. For ex, if you are getting the traffic from different places like facebook, instagram, youtube etc., the lead magnet is attracting to give them a contact details of the lead. So, the cold traffic becomes the warm traffic. Now, you wouldn't just want to give them a thank you page and you need give them a offer. It could be a thank you page with an offer or thank you page with webinar. Then, you can send email sequence regularly to develop a relationship with them that is an point of an opt-in. It is not just about selling, but creating the impact to solve the problems.
          The opt-in page has to be designed in such a way to capture the email and name with your offering. You know your target audience and what you have to provide for them because you know the problem that they're experiencing. If you don't know the problem of the target market and want to succeed with the funnel, you need to do some research that what problem your prospects are struggling with. It's to figure out something actionable that your prospects want to take action for solving the problem. So, you need figure out the problem of your prospects and create an actionable piece of content. The cheat sheet and checklist will get lot of people join in your email list. If the people wants an opt-in, you need to give them something to consume in 10-15 minutes. This could be the software trials, recipes, video training, checklists, how to guides etc., Whatever you offer, it is good to add private label(eg.,PLR products) like logo and name on it.

Typical B2B Sales Organization: B2B sales involves bunch of stipulation like you need to sell atleast 4 of the features or 3 brand new clients who has not done the business with us. So, if you are a team leader or individual contributor, you likely need to negotiate the goals before building to achieve the goals. Once, you have the goal, it is necessary to build the plan to achieve those goals. To build the plan, you need a Pipeline Report which is the excel format that will help you to achieve the long term goals. This document contains the perspective deals. Deals are defined as the real opportunity, created proposal, expected deal size, and signed agreement etc., The pipeline will tells  what can expect in the quarter. So, it gives the clear picture of where we are relative to the goals and what do we need to do to be successful. If you don't have enough deals in your pipeline, you need to find more leads. If you have a lot of deals, but it doesn't expected to close, then you need to figure out to close some of them. The steps and ratios will help to keep motivated and push forward. The pipeline will help to prioritize the daily activities. Finally, the structured process and weekly metrics will ensure success.
      The good sales team enjoys the synergies that allows to sell beyond the capabilities of individuals alone. Sales people understand the sales pitch, corporate process and culture of the organization. Sales admin to schedule the appointments and manage the sales tracking. If you try to blend too many of the skills into single job description, you might end up with a role that no one can do and no one wants. When you find the right person for each role and every one knows who does what and how the different professionals work together which will pay the big dividends across the organization. There are different skills needed to run the sales organization and selling to businesses. Basically, it is to focus on the next deal and creating an environment to support the deal makers. Having the right people with right skills are the key to success in sales organization.

Business Analytics: Analytics are also called as Business Intelligence and Decision Support. It involves mathematics, predictive modeling, Machine Learning Techniques that define the meaningful patterns and insights of the data. Analysis of data will enable and enhance the knowledge for the discovery. If we follow the instinct, there will be the loss of revenue and loss of life. Analysis of data uncover the correlation and pattern that helps to answer the following types of questions,
   * What happened?
   * How or Why did it happen?
   * What's happening now?
   * What is likely happen next?
     Analytics help you to understand the organization to retain the customer, prevent the fraud, finding effective ways to deliver the products and services etc., The Business analytics are useful in the areas of,
    * Discover and take advantage of trends
    * Predict and forecast the occurrences
    * Identify the risk and threads
    * Find hidden patterns like why the customers are leaving
    * Identify the opportunity especially for new products and services
    * Optimize the performance or quality of processes, people and machine
    * Digitize offering
    * Improving the Customer experience
    * Develop a new Business Model
    * Monetize data
    * Improve Safety
    The Analytic helps to take the ideal action of the humans or machines. Business Leader, Executive need to encourage or mandate that the organization become more data driven. It is the driving force of corporate strategy. Business leaders provide the necessary resources(including the budget) for particular project and ensure that analytic output acted upon it. The IT organization needs the acquisition, implementation and support of the technologies.
      

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