As an entrepreneur, you need to learn how to use the right sales strategy. Why? Because sales are the lifeblood of a business. To be able to increase sales, you need to know what turnover is, how to increase sales, what business marketing strategies are to increase sales.
You will find the answer to this question in the following paragraphs. Keep on reading.
Know What is Business Turnover?
Every entrepreneur wants to have a skyrocketing sales turnover. So, what is turnover? Sales turnover is the amount of money that comes in from sales in a certain period. You also need to know that turnover is calculated from sales, whether cash sales or credit sales.
This turnover does not take into account the existing HPP (cost of goods purchased) and Cost (costs). Starting from the cost of electricity, employee salaries, and others.
Long story short, turnover is money that comes in from sales activities. Turnover is not operating profit. Many people misunderstand that turnover is operating profit.
How to Calculate Sales Turnover
In accordance with the definition of turnover above, how to calculate sales turnover is very easy. The method? Multiplying how many products were sold by the selling price. It's as simple as this:
Turnover = selling price x number of products sold
When you know how big your business turnover is, it will make it easier for you to know how big the potential profit for the business you are running is. Fun, right?
How to Increase Sales Turnover
Many entrepreneurs focus on sales turnover. They try to increase sales in various ways.
Why?
Because from sales turnover, you can know how much potential profit you will get. There are many ways to significantly increase sales turnover. The following are important steps to increase sales:
Reading Market Potential
How important is the ability to read market potential? For entrepreneurs, reading the market potential is very important. Why? Because how big our business potential in the future depends on how much market potential and market absorption. The more specific and clear who your target market is, the greater the chance of a sale.
Just imagine, you open a business and a business not only for a period of 1 year or 2 years. But you are opening a business for the long term. Is not it?
So from now on you need to think and calculate how big the market potential is for your selling product. Do not let the market that you will offer the product is too big. In fact, resources, sources of funds are very limited.
Don't sell something that everyone needs because you're afraid there won't be a buyer. Each product has its own potential buyers.
Create Your Own Brand
No less important than the ability to read market potential, is to build a brand. It is very important to build a brand for the company in the future. They think that the brand is the design, logo and tagline of the company. Is this definition correct. Wait a minute.
Let's look at the understanding of the brand from the experts.
What is that brand?
The brand according to Mr. Bi. A familiar greeting from Subiakto Priosoedarsono, a brand is a value attached to a product. So the brand is included in the category of intangible assets (assets that are not visible).
Promotions make people interested and eventually buy, but brands make people feel the sensation of your product, remember it and will buy again at another time.
Create the Best Products
Your product name already exists, your product brand has begun to be known. Then the next is to create a quality product. The brand name is already cool. Massive promotion but your product is ordinary, so the chance for massive long-term sales is very small. People buy once, already. There is no chance of repeat orders over and over again.
Have you ever seen a new product promotion, bombastic. Many people come to buy. But after tasting the product. They are silent, don't make positive comments, let alone give recommendations.
Always remember that the best product sells itself. This is what Mr. Bi said, lol. The master of homeland branding.
Do Massive Promotion
One thing that you should not miss as an entrepreneur and businessman is promotion.
What is that promotion?
Promotional activities are one way for a business of goods or services to be easily recognized by potential buyers.
In short, promotion is an effort to increase the activity of introducing the products or services you offer to potential buyers (target market). You can use various media to promote your sales.
What is an effective way of promotion? The best way to promote is to find out where the target market for your products is. Once you know where they congregate, you can study their characteristics. What do they like, how do they communicate, how do they shop.
When you know your target market well, know where they gather and understand their characteristics, then you have the opportunity to win many times over. As the saying goes "A thousand wars, a thousand victories"
How did it happen? Because you have mastered and understood the characteristics of potential buyers in depth.
Business Marketing Strategy To Increase Sales
To increase sales, you need to create an attractive business marketing strategy. How can your target market know that your product is good and of good quality if there is no marketing strategy.
Then you need to make a careful marketing plan to increase your business sales.
Determining Sales Target
An important step in building a business is determining sales targets. The sales target is how much sales you want to achieve in a certain period.
For example, in 1 year how many sales you want to achieve. Knowing the sales target will make it easier for you to find the right strategy how to increase your business sales quickly and precisely. Clear sales targets will make it easier for the sales team to go through the sales process in accordance with established procedures.
How to Determine Sales Target
In order for the business to achieve the sales targets that you have implemented, it is necessary to learn how to determine sales targets.
Here's how to set a sales target:
Set Clear and Specific Goals
In a business that consists of many teams, it is necessary to have a goal or target to be achieved. This target should not be grandiose and bombastic. A sales target needs to match the existing resources. How big is the production capacity. How big is the team's ability to handle all orders, etc.
Why do you need to set sales goals and targets? The goal is to know what to do. The marketing team, sales team and production team will know what to do if there is a target from the company.
If your business is still small and you do everything yourself, that's okay. Let's just say you're practicing team building starting with yourself.
Understand the Market Conditions of the Target Market
Setting a sales goal or target is very important but it cannot be carelessly. You need to adjust to market conditions and target market.
You need to learn how the behavior and shopping patterns of the target market. What products are they most interested in. This understanding will make it easier for you to determine which products will be scaled up, how much to produce. And most importantly determine what marketing strategy will be applied to boost high sales.
Conclusion
Everyone builds a business to make a profit. The essence of profit is cash (money) in the cashier of the company. What is the meaning of high profit from sales that have no cash because there are more credit sales than cash sales?
To increase sales turnover, you need to determine the right sales strategy according to the abilities and resources you have.
So that your business turnover will be able to increase profits. This profit has the opportunity to generate a fairly large cash. Cash that enters the business on a large and massive scale has the opportunity to make the business you are running experience large growth from time to time.
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