5 Reasons For A Drop In Sales And What To Do About It?

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A drop in sales could be due to many reasons, but as a business owner, you need to instantly hit the panic button, take a step-by-step approach, and look to rectify the problem. In this post, we will tell you the five main reasons for a drop in sales and what you can do about the situation:

1. Advertising only on one search engine:

For most companies today, Google is the heart and soul of their business. If you are only on Google due to Adwords or keyword optimization, you can potentially rule yourself out of the game. Google holds a large majority of the market share, which amounts to almost 83.3%, as per stats by Searchengineland.com. You are still leaving a sizable chunk, 16.3% out. As the silent minority grows in the shadow, your strategy of not targeting other search engines will make you miss out on potential leads and business.

2. Not using live chat:

Engaging with customers is a requisite for any business owner, and what better medium to do so than live chat? Having Live Chat engages your customers. It leads the browsing traffic straight to your side, giving you a prime advantage over your competition and showing you have a great customer service staff. Live chat is more than just interacting with customers or solving their queries. It is a direct funnel to your B2B sales line. Looking for more interesting content in this particular niche? Then, be sure to visit admarketingbuzz.com.

3. Lacking additional value:

As per Forbes, free shipping remains one of the best incentives customers look forward to, with almost 88% agreeing. Even if you and your competitor are selling the products at the same price, offering free shipping will make you lose your business. One good way to ensure that such a thing doesn’t happen is to start and offer your customers a loyalty program and provide different incentives to customers using it effectively. Putting a good loyalty program in place will enhance your customers’ confidence and help boost your sales.

4. Marketing and sales teams are misaligned:

B2B marketing isn’t easy. If your marketing strategies and your sales and marketing team aren’t aligned properly on the same goals, it will lead to a decrease in sales. Now, the marketing division only focuses on getting and converting many possible leads into sales. Meanwhile, sales are focused on closing the individual information in front of them. A proper solution is to align their goals with marketing, delivering only qualified leads to complete or build an effective funnel or drip campaign. This would mean having fewer leads and ensuring they are effective before sending them to the sales team.

5. No assortment optimization:

The last thing a business wants is to lose potential customers and leads. An example of this can be a customer entering the store and not finding what they need. No marketing trips like assortment optimization strategy were there in the first place. Doing an assortment optimization begins with analyzing your past and present inventory trends. This will help forecast and identify demand patterns, leading to a positive customer shopping experience. So there we have the five best reasons for a drop in sales and resolving it effectively.