Written by: Betssy Brijit Thomson
Sales fundamentals
SWOT analysis helps identify internal strengths, weaknesses, and external threats in a product. By creating a value pyramid focusing on functionality, emotionality, life-saving, and social effect, businesses can gather data, engage with potential customers, and boost loyalty.
Sales communication
An elevator speech should showcase your business, solve problems, and add value. Successful negotiations involve listening to customers' needs, creating long-term value, being honest, and showing good purpose. Addressing objections, such as customer needs, demographics, and price, can help develop opportunities for growth.
Key sales elements
The sales process involves three stages: Pre-sales activities, which involve understanding customers and using SWOT analysis; creating opportunities; and executing sales. Engaging with customers and Post-sales activities involve gathering feedback, understanding business pros and cons, and maintaining soft skills.
Setting prices
When settng prices, consider the following: production cost, how you want your customers to perceive your product, and what competitors charge.