Figuring out new ways to improve your sales is key to your business’s success. That’s especially true for the current market of capital equipment sales, which is becoming more and more uncertain thanks to the erosion of brand loyalty, the unusual economy, and the state of supply chains. Learning and using new tactics to improve your sales can help your company continue to grow and develop in the capital equipment industry.
5 Tips for Improving Capital Equipment Sales
Here are some helpful ways to improve your capital equipment sales:
1. Create an Active Online Presence
Creating an active online presence helps strengthen your marketing and sales efforts, improves your brand awareness, and also keeps you in touch with potential customers. An active online presence can come in many forms, such as social media, content creation, and email campaigns. When you respond to your buyers online, you show them that you can be an active part of their projects and an integral part of their success. However your audience prefers to receive their marketing and sales materials, you can use an online presence to keep your brand top of mind.
2. Focus on The Relationship
When making a sale, dealers often focus on the products they sell and the features those products include. Though it’s important to communicate this information, many buyers find that your products or tools are easily interchangeable with your competitors. That’s especially true in the current climate of brand loyalty.
Focusing on the relationships between you and the buyer can help you solidify that sale and show them what you have to offer outside of your products and services. Showing your prospective buyers that you have an active and established customer support or client success team can drive your selling efforts and make your sales conversations much more effective.
3. Understand the Buyer’s Business
Even if you’ve taken the time to research a business before making a sales call, don’t assume you know everything about them. Getting to know a prospect’s business and how they operate through conversation can not only help you develop stronger relationships with them, it can also help you finalize the sale. Asking key questions and showing interest in their current projects can reveal key insights into their business set-up, including:
- The intended use for their new equipment
- An understanding of their current needs and pain points
- Information about current projects
- Information and timeline for future projects
- Their current budget for support services
If you haven’t already guessed, each piece of information listed above can lead to future sales conversations. Knowing what your prospects hope to do with their equipment purchase and their hopes for future projects or purchases can help you continue that relationship with them down the road and open the door for even more sales opportunities.
4. Research Your Audience
Researching and knowing your audience can help you understand where they like to consume content and what type of content they like to consume. This can help you in multiple ways. For starters, knowing what type of content your audience likes can help you create more effective marketing materials and content to better attract their attention and engage with them. It can also show you the best places to use targeted advertising.
For example, let’s say, through your research, you discover that a majority of our audience likes to read a specific blog. You can buy advertising space on that blog to potentially target people you know have the most interest in your products or services. You can also see what types of articles that blog posts to learn more about what your audience likes to read, and include those high-interest topics in your own content and website.
5. Gather The Right Data
One of the best ways to improve your selling efforts is to pair it with expert data. Using data products, like RigDig BI or EDA, you can drive your sales prospecting and find potential buyers in your trading area more easily. See when businesses are most likely to make a purchase, what types of brands they currently own, and which brands they might prefer over others. Going to a business armed with the right information at the right time can help strengthen your selling efforts and allow you to steer the sales conversation.
