The success of a fashion business lies in developing a great quality product. That said, creating a sales strategy is just as important for growth.
A sound sales strategy will help you to identify prospects, generate leads and improve revenue. Here are some essential factors that fashion designers should consider when creating a sales strategy that is optimized for efficiency:
Identify your goals and objectives
First off, identify your company’s goals and objectives. It’s imperative that you set realistic, measurable, relevant and timely goals to ensure you can achieve them. The SMART method works well when figuring out your business goals.
Conduct customer research
Once you’ve defined your goals, you need to carry out intensive research on your target audience’s needs, wants and demographic.
Your target audience consists of your primary customers. Knowing both your primary and secondary target audiences will help you create a sales strategy that can cater to their specific needs and wants.
Speak with your target customers directly or make an online survey on an affordable platform such as Survey Monkey to get to know your customers.
Determine your unique selling proposition
Unique selling proposition (USP) is an integral component of a sales strategy. Put simply, your USP is what differentiates your business from your competitors. It’s a defining factor that makes your business stand out from competitors.
Compare your business with your competitors’ strengths and weaknesses. If there are gaps in your business, adapt your sales strategy accordingly.
Focus on old and new customers
Customers are the backbone of a business. While you may want to attract new customers, do not ignore your existing customers. Reward your existing customers for their loyalty, while building new customer relationships at the same time.
According to this research, it costs five times more to attract a new customer than it does to retain an existing one. Never underestimate the significance of your current customers.
Implement and measure
Finally, after implementing your sales strategy for at least 3 months, it is also imperative to measure the outcomes. Reviewing your sales strategy will help you to determine what is working and the areas that need improvements.
If you’re looking to improve your sales strategy, we can help! As a full service apparel and accessories design and manufacturing company, Lefty Production Co. offers wide range of solutions to new and established designers under one roof. Our services include product design and development, marketing, packaging and much more.