Supercharge your sales strategy in 2021
Once you’ve crafted your business strategy, your next step is to home in on your sales strategy. How are you going to get the edge over your competitors in 2021? Find out how to set your home improvement business apart from the crowd.
One key way to beat the competition is to diversify: this could be product diversification, diversifying your sales channels, or both.
Finding new products that solve your customers’ problems will give you an advantage. As a retailer, you need to be in touch with emerging trends, new product developments and – perhaps most importantly of all – your customers’ needs.
- Read industry-related news, blogs and thought leadership.
- Research new products, technologies and innovations.
- Keep abreast of your competitors.
- Talk to your customers.
- Be open to change.
A new partnership is a great way of diversifying your offering and bringing together natural-fit businesses and services to deliver better value to your customers. New partnerships provide an opportunity to pool your resources, expertise and customer-base. The right partnership is a win-win solution for both businesses and customers.
A new partnership should:
- Complement your current offering, not compete with it
- Add value
- Share your company’s vision
- Enable you to reach new markets
- Help you achieve growth / scale
Post-COVID Customer Behaviour
COVID-19 has changed all our lives. While some of these changes will only be temporary, others are likely to stick for some time. It’s crucial to be mindful of how COVID has transformed your customers’ expectations and needs.
In 2021, we predict customers will continue to:
- Be hygiene-conscious
- Browse or shop online
- Choose home delivery or click-and-collect options
- Opt for digital payments over cash
- Spend less time / make fewer visits in-store
- Use social media to engage with businesses
- Demand flexible finance solutions like Buy Now, Pay Later
- Pay attention to brands’ social and environmental policies
You need to have your finger on the pulse of all these factors and be proactive.
- Keep your stores and staff COVID-secure with measures like distancing, strict cleaning protocols, hand sanitiser stations and one-way systems.
- Invest in your website. Make it easy for your customers to find your site with SEO and make it seamless to browse and buy.
- Leverage technology.
- Become a Shermin retailer to offer a range of consumer credit products.
Almost a third of all retail sales were made online in May 2020. If you’re not selling online you could be missing out on a significant percentage of sales!
- Your own website – platforms like Shopify make it simple to create an online shop
- Third-party marketplaces like eBay and Amazon
- Social media – Facebook and Instagram shops launched in May 2020
Building e-commerce into your sales strategy is a smart move, as people shop increasingly online, favouring the convenience of 24/7 shopping on whatever device they have to hand, whenever they choose.
Don’t be dissuaded if you’ve got a product that isn’t traditionally sold online e.g. boilers – this is the perfect time to be among the first to offer such a service. Being an early-adopter demonstrates that your brand is modern, tech-savvy and relevant, and will put you ahead of the game.
Look out for part 4 of our 2021 Business Recovery Guide where we discuss the final pillar of your 2021 plan – marketing strategy!