Are you familiar with these strategies to increase the sales of electrical equipment?
Although all the divisions of the company perform important duties. It is your selling team who is accountable to turn your product into a profit. There are many known strategies for improving the performance of sales. While tried and tested strategies be effective, electrical companies use data to gain huge competitive advantages.
Let’s talk about the four ways to improve the efficiency of your sales through electrical information.
Cross-sell and up-sell
How well do your sales staff practice cross-selling and up-selling? Up-selling is the practice of offering an extra luxurious or greater amount of a product the customer who is placing an order. One example is to provide a stronger motor speed control instead of the less expensive model that is purchased. Cross-selling On contrary is based on the idea of providing customers with additional products. You might consider offering an automated control, such as the timer that goes with the latest lighting system to a residential construction project.
Utilizing these strategies can improve the experience of purchasing for your customer. It can also improve profits and margins for your company.
Although these techniques are widely understood by sales professionals but data can be utilized to improve selling techniques. If you’re keen to know more about how simple these strategies are to implement, review our cross and up selling ebook here.
Learn from your sales team’s peers.
If you analyze your sales performance by using analysis of business intelligence it is possible to find that there are differences among sales representatives. Maybe some of your sales reps are selling large amounts of UV stabilized edge clips and tie, but another rep is unable to sell anything?
When you have a conversation with a sales representative who is not performing you may discover that they’re not sure what the product they are selling is intended for, or do they know that you offer the product? Business intelligence lets you learn these details and then share crucial information that could earn you the business.
A salesperson who is achieving a high level of success in the sales of the product can teach other sales reps about the advantages of the product, as well as the methods they employ. If you allow each sales representative to share their knowledge with colleagues about the product that they know about to build the capacity of your colleagues and create leaders in your team.
Based on the size of your company The peer-education program can be carried out during a group discussion through Zoom or recorded and is distributed to employees. Allowing your employees to assist and coach one another can bring great advantages for your company.
Make sure your products are in line with the marketplace
Producers, distributors and retailers of electrical goods typically have products that differ in terms of sales across different regions. This may be due to internal factors like the efficiency of certain representatives in a specific region or external influences like the volume of new construction projects within a particular region, or even the climatic conditions that impact the demand for a wide range of products.
business intelligence can help you spot these trends in regional sales in just only a couple of clicks. A sales representative in an area with a large number of market share of solar paneled items could now be able to offer more modern and green products to their customers. To go another step, sales representatives across different regions that have similar customers might see increases in sales if they begin to focus on eco-friendly products. It’s obvious that it doesn’t have to be only one kind of product. BI provides a variety of possibilities for businesses.
Re-engage the customers you’re likely to lose
It isn’t always easy to recognize when you’re going to lose a customer in particular. When you have a huge number of customers that you service. A decrease in sales for older versions of a product does not have to mean it’s a bad thing. It could simply mean that consumers are moving towards an updated product. Like electrical outlets with safety switches, rather than that does not have them. If a client stops buying from you but does not purchase from you. It could mean they’ve found a different supplier. With strategies such as discounts on bulk orders and other bulk-orders. You could be able to get the customer you’re losing by offering a cheaper price than your rival. If you are unable to provide a lower price for this particular product. It is possible to offer a cheaper price for a different item. And make an offering that the competitor can’t beat.
The trick is in identifying these clients quickly. With BI it will not take much time to review the current order quantity and compare it to previous order amounts. Dashboards within the business software enable you to keep track of the trends. If you were to want to, you can use it on the smartphone or tablet phone while on the move and stay up-to the current.
Dashboards aren’t the only thing that can provide the advantages business intelligence can provide to your electrical company. In a growing number, electrical suppliers and distributors are using business intelligence in order to better comprehend their operations, keep customers, and increase the performance of their business.