Sales Strategies for Startups in the UK

Sales tactics are essential to achieve solid revenue and to expand a business to new markets. In this article, I explain the key aspects of sales strategies for startups in the UK.

What is a Sales Strategy?

Sales strategies are tactics that seek to increase or improve sales of products and services that a company offers. These plans will define how a corporation will sell its assets and how it will set global

goals for all its departments.

It is important to keep in mind that, for a sales strategy to be effective, it should involve all sectors of the business. Doing so, will ensure the greatest possible effectiveness in its implementation.

Factors to Consider to Create Effective Sales Strategies for Startups in the UK

Regardless of the objective to which a sales tactic is directed, it must meet several factors to ensure its reliability and effectiveness.

Analysis of company’s sales. The first step should be to assess the current situation of the company. The directors should analyse factors such as sales in previous accounting periods, which products customers have acquired more and less or what previous investments the corporations has made in sales strategies.
Analysis of the competition. After knowing the situation of the enterprise, you should evaluate your business rivals. This is done with the aim of comparing prices or sales tactics and to find niches of markets that nobody is covering.
Study of the target audience. What problems are the clients looking for the company to solve? What expectations do they have of its products? Which prices would they be willing to pay for them?
Cost optimization. Each pound wasted contributes to a lower profitability of the company’s business operations. There are two main options to optimise expenses: copying the decisions of leading companies (benchmarking) or through testing and error of strategies until finding one that provides the highest profitability.
Increasing productivity. In relation with the previous aspect, every minute your workers waste is money that the company stops perceiving. Productivity can be improved with the use of more advanced tools and machinery or through internal marketing. The latter will help make workers more efficient.
Measuring results. A company can use the objectives that you have set to check whether the tactics have worked or if you should make some corrections. To do so, the directors may employ KPI metrics. In this article, I explain in detail what are these indicators.

The Main Sales Strategies for Startups in the UK

There are different types of sales tactics. Using one or the other will depend on the specific characteristics of the business, its legal structure or its objectives.

Inbound Sales

In the first place, this methodology focuses on finding the problems for which customers need a solution. In addition, to attract the clients to the company, the company will offer personalized options that are of value to them.

This type of strategy is usually employed in digital environments. Unlike traditional sales approaches, inbound sales try to attract customers in a less aggressive and invasive way.

Live Events

Live events, both in digital and face-to-face format, serve to reach an audience that may have interest in acquiring any of the corporation’s products or services.

It is a tactic that enterprises are using more in recent years, especially in technology-related areas. An example would be Nintendo Directs. These are conferences in which this video game producer informs their clientele of the games that they will release in the near future on their consoles.

Cross-selling

Cross-selling consists of offering clients who have already purchased brand products complementary articles to those they have previously bought. It is a technique that large sales portals use, such as Amazon, but that small virtual businesses that sell several different goods can also employ.

Finally, other sales strategies that startups can apply in the UK would be email marketing, loyalty programs or advertising through social networks, among other tactics.

In ukstartcompany, you will find information about how to establish, register and operate companies with different legal structures and business activities in the UK.