Sales and marketing alignment occurs when those involved in awareness building work together with those tasked with lead generation and nurturing. Because smaller teams often have to perform more than one role, alignment is often easier for small businesses to achieve. However, it does take planning and in some cases, additional training. You can strengthen…
How to Sell Stock Photos Online: Top 11 Places to Sell Your Photography
Selling stock photos online is a terrific way to make money from your photography. There are many ways to go about selling your photos, but 11 stand out above the rest. The easiest way to sell photos is to become a contributor on stock image sites that already have millions of buyers, such as Shutterstock,…
Customer Acquisition Cost: What Should You Be Paying for New Customers?
Customer acquisition cost (CAC) measures how much money it takes for a business to gain a new customer. It includes marketing costs, salaries, and advertising. CAC is measured during specific periods of time to compare how it goes up or down. It is important because businesses aim to reduce CAC to improve their bottom line….
25 Sales Pro Tips Every Salesperson Should Know
Every small business is looking for better ways to increase profits. After all, whether you’re starting your own business or you have been running your business for years, there’s always more to learn. We’ve talked with a wide range of sales experts in various industries to discover their secrets for closing deals and increasing revenue….
What Is Lifestyle Segmentation? Definition & How to Use It
Lifestyle segmentation is a categorization of target audiences by how they live, which includes activities like healthy eating, staying active, and participating in sports and other hobbies. It’s best for companies whose customer lifestyles drive their purchasing decisions like shoe purchases for active moms. Benefits include customized messaging and better rapport-building, which increases sales. If…
Channel Sales Strategy: How To Get Your Product To Market
Channel sales is a strategy that uses third-party distribution avenues to sell products. Examples of sales channels include external retailers, value-added resellers, affiliate partners, and installers or integrators. This strategy is best for businesses like manufacturers needing third-party facilitation for building relationships with customers and generating sales. The success of the strategy depends on building…
Customer Segmentation & Why It Matters to Your Business
Customer segmentation is a strategy for grouping customers based on similar characteristics like location, market, demographics, or value. It helps sales organizations identify commonalities among those accounts and can provide insight on which businesses to devote time and resources to, allowing them to focus their efforts where they will be most effective. Using a customer…
B2B Sales: The Ultimate Guide to Business-to-Business Selling
Business-to-business (B2B) sales is the process of selling to another business instead of to consumers. In general, it includes a more involved relational and consultative sales process, along with a longer sales cycle, as opposed to the transactional sales process that is more common with business-to-consumer (B2C) sales. How Business-to-Business Sales Works B2B sales works…
Top 29 Sales Training Videos From the Pros
Sales training videos provide a very efficient and effective way for small business sales teams to learn new skills, brush-up on old ideas, and get a positive inspiration from top sales professionals. To help you get the sales skills needed to increase your conversion rates, we gathered this list of 29 free inspirational sales videos….
What is Cross-Selling: Definition, Principles & How to Use
Cross-selling is a strategy used by salespeople to increase the overall value of a sale by suggesting additional products or services that complement the existing purchase. It is commonly used in retail sales but also has become common in B2B sales as well as service-based industries like professional firms and agencies. One of the best…
What is Upselling? Definition & How to Increase Sales
Upselling is a sales tactic where you offer your customers an additional product, service, or upgrade during or immediately following their initial purchase. Examples include offering extended warranties on laptops or premium features on a car. Upselling can be used to increase sales by getting customers to spend money besides the basic purchase. How Upselling…
Inside Sales vs Outside Sales: Definition & Team Structure
Inside sales and outside sales are sales functions focused on different tactics. While teams can be structured similarly, inside salespeople primarily accomplish tasks by phone and focus mainly on high volume sales or administrative support for outside salespeople. Outside salespeople conduct tasks in person and are employed primarily for low volume, high-ticket sales. CRM can…