The best way to improve company sales

There are many ways to increase revenue, but first you should clearly define your goals.
Are you looking to:

• Increase profit
• Increase  your number of customers 
• Gain a larger market share
• Gain a larger share of the customer’s wallet
• Grow new business from new customers
• Grow new business from existing customers

For each of these, your approach should differ as they are not the same thing.

Leverage existing customers to improve company sales.

Existing customers already know your company so are more likely to buy than a new customer who has to get to know your company, your brand and your product. 

• Ask yourself  "Can I get this customer to buy more, either of the same product or differing products/services?"
• Is there a solution that your customers need to a current problem that you can provide?
• Are you able to offer an additional feature or add on to a product or service they have already purchased?

Be sure to plan carefully your sales and marketing strategies for this extra offering to your customers.

Increase your profit margin.

If you gain more profit margin on a certain product/service line, focusing on selling this product will not only grow your revenue, it will lift your gross margin as a percentage of total revenue. 

Focus on the gross margin.  This is how much money you have left after you pay the cost to produce and fulfill the sale. Look for areas to improve the percentage by negotiating better prices with suppliers or minimising waste if you are manufacturing.

Those products or services with the highest gross profit margin generate more money and are therefore most important in your business. Once you have identified your most profitable items you should concentrate on achieving higher sales targets for them - this is where a business advisor can help.

Sell more per transaction.

Each sale we make has a transaction cost.  The more revenue that is part of this transaction, the lesser the percentage of the cost to do the transaction becomes.  Upselling and value-add options often allow for additional revenue and gross profit generation, with an overall lesser transaction cost.  Do your numbers carefully.

Improve customer service.

Most importantly to improve company sales, improve your customer service. Get help to develop a sales manual for your staff which clearly defines your sales process and methodology, focusing on existing and new business development. Then help your staff to develop the sales skills they need through customised sales training.