Effectiveness of selling techniques

Effectiveness of selling techniques

Effectiveness of selling techniques

• As we know, businesses use a range of strategies and techniques to sell their good or service

• We call this a promotional mix

• If a businesses products, customer service and selling techniques are all functioning well, sales will increase.

Multiple Choice

Which businesses did we NOT study when looking at promotional mix

• Starbucks

• Nike

• Ikea

• Coca-cola

Open Ended

Why would a business need to review and evaluate their selling techniques?

Why & how do they do it?

• Any downturn in sales can be very costly to a firm's profit. Any increase in sales should also be quickly analysed so that the reasons for it occurring are understood (and so the business can take advantage of it).

   

Multiple Select

What are some ways to evaluate the effectiveness of selling techniques?

• Look at previous sales

• Comparing forecasted (predicted) sales against actual sales

• Compare products and sales of competitors to learn from

• Ask friends and family what they think of your business

• Look at engagement ratings with advertising platforms

Surveying as a form of evaluation

A survey is a set of questions given to an individual that require a range of responses.

They can be based on a rating system, multiple choice responses or written responses for a more personal response.

Poll

Why do you think businesses survey consumers?

• To annoy consumers

• To gain a better understanding of their market

• To evaluate how well they're performing as a brand

Open Ended

What data can a business collect to evaluate how effective their selling techniques are?

Data

• Businesses can collect data on sales for the total time period they are monitoring

• They can collect data on the total number of website visits

• Sale figures can be used to track how well a business is doing, though they don't necessarily represent customer satisfaction.

• Businesses can also collect data about the level of customer service they provide

Open Ended

A business has a sales forecast (prediction) of $90 000 but achieves actual sales of

only $25 000. What does this signify? What should the business do next?