Having a small budget for your company is no fun, but it’s still something to work with. The secret is knowing the best ways to allocate your budget and make some sales.
First, you want to figure out exactly how much you can put towards increasing your sales. The more results you get, the more budget you’ll have to go towards even better sales. Here are some tips to help you get started.
Work your company connections
The first step for increasing your sales — and one that costs little time — is reaching out to current clients and customers.
They might be interested in more products or services. They also might know another company or person interested in what your small business is selling. Many agencies look to current clients to sell new clients. If you’re proud of your service or product, then your current customers should be happy to spread the word.
Another way to use current customers to your advantage is by requesting reviews. They can leave a review of your business on Google, Yelp, Facebook, LinkedIn, etc. This is a simple and quick way to boost brand recognition and get some online validation that could seal your next deal.
In this digital age, people often check reviews and comments before purchasing. If someone is on the fence, a review from a current customer could seal the deal on your next sale.
Turn to digital strategies
There are tons of ways to market yourself in the digital space. Start with something inexpensive like capturing email marketing leads. Using an inexpensive software like Mailchimp is a good way to automate this process and make sure you are capitalizing on email marketing. Take the time to write compelling copy for these emails.
Once you have this strategy in place, shift your focus to social media. Social media advertising is an extremely cheap way to get sales leads. You can get one lead for less than $10 if you use the platforms correctly. Take a crash course on the Facebook Blueprint platform and start running some campaigns.
If you work in B2B sales, try focusing your attention on LinkedIn. A lot of company decision-makers spend their time on LinkedIn. If you put ads in the right place at the right time, it could bring you a massive deal.
Build a powerful sales team
Last but not least is your trusty sales team. If you have a small budget, make sure you hire people who know their base pay will be small. Then, offer a great commission on sales.
This will drive them to produce results and get the extra pay they deserve. As your budget situation improves, you can raise their base salary as well. Smart sales representatives know that their efforts will pay off when they start using your small budget to drive more sales.
Treat your employees fairly and positively throughout the process, and consider hiring more entry level sales people. You can use a T-Mobile signal booster to make sure these representatives always have the service they need when making calls and closing deals. The cost of having sales representatives mostly goes towards their pay. The rest of the resources are inexpensive.
Your small business will thrive with the right team and the right strategy behind it. No budget is too small to put these efforts into action in some capacity. As you AB test for results and grow, you can max out the successful strategies with a new budget.