4 Sales Tips for Businesses in Malaysia

Oct 31, 2018

Besides a beautiful and multicultural country, Malaysia has a dynamic business environment with an amazing economic story of transformation from a developing country to one of the fastest growing economies in Asia.

Many enterprises envisage Malaysia as a perfect landscape to explore various niches and industry. Whereas, other businesses worry about striving in a dynamic environment to grow their business. If you want to grow any business, it must have two things- Great products and services and a stellar sales strategy. Sales are everything to a business and without a sales strategy, you are likely to fail.

If you can’t sell, none of the other skills matters

To grow a business they days, you need to understand why sales strategies fail and how to develop a strategy that works. Here are 4 sales tips for businesses in Malaysia to grow their business effectively.

Form a strong sales team

Building a strong sales team is where you need to start from. It’s a major bottleneck when only one or two people in your sales team are closing deals. Putting together a strong sales team is necessary for your business success. It is important and recommended to hire people with more product or service knowledge than experience people with no product knowledge.

It’s no more a secret that a sales team’s biggest strength can also be its biggest weakness. Your sales team can maintain a powerful relationship with customers and close deals. But, at the same time they struggle with information overload. Finding the right balance in handling information can bring in success to the team. Here’s when implementing a CRM can optimize their daily tasks and prioritize schedules to make sure customers are the priority all the time. A good CRM can streamline the entire sales cycle which results in closing deals fast and to reach the target fast.

 

 

Manage multiple channels of retail effectively

A multichannel selling strategy is the foundation of building a strong multi-channel business that maximizes your ROI. By choosing to sell in new channels, you can grow your business within no time, but you need to do it effectively. Once you have picked your channels, you need to decide upon what systems to use, too. Picking the right system for your business is critical for your company’s success. If you are using an outdated ERP, it is time to make a shift towards choosing CRM for your business. Integrating your CRM with sales is essential for a seamless experience for your operations and customers. To ensure a consistent customer experience across multiple channels, all your process must be integrated. As you grow your business, you have to gear your multi-channel strategy to add advanced capabilities that will set your business apart from your competitors.

Transform leads to Revenue

To convert leads to cash, transforming the buyer journey is essential. To deliver an exceptional customer experience, from marketing to sales to billing must be involved. To achieve this for your any business, a solution which fully integrates both external and internal data and processes are required. Without any doubt, lead to cash conversion is the most significant customer-centric process in a business, starting with the customers’ interest to buy and ending with revenue recognition. By aligning marketing and sales, you can harness the power of CRM to focus on an effective understanding of customer interests and requirements. With an integrated solution, your marketing team can hand off the lead info to the sales team. Utilizing CRM and data integration makes your business process inherently intelligent and through guiding sales to be proactive and convert leads to revenue.

Automate your call center

From simple to complex task in a business, we smoothly automate several tasks and customer service is no exception. As modern customers are both demanding and tech-savvy, the foremost expectation of customer service is need. Automating your call center minimizes human involvement and thereby reduces the potential for human error, wasted effort, delays and redundancy. Call center automation also helps in offering an immediate response to customers and improve customer experience. When a customer tries to get in touch with customer service, long wait times are a pain point. Automating support channels can shorten the wait time by using anything like interactive voice recognition program directing them to the right channel; based on their requirements.

Conclusion

It is difficult to improve what you can’t measure

New ways to grow your business and increasing your sales are popping up these days. However, some traditional methods are still appropriate and proved to be effective when combined with technical advancements like CRM and AI tools. Implementing a CRM strategy boosts your sales potential and is beneficial for both small-scale and large-scale business. By integrating CRM strategy for your company you will be able to increase the revenue of your business to a great extent. Knowing which efforts drive your sales is important and a CRM helps to track the success of your sales efforts with all essential key performance indicators.

Related Article

Client Relationships in Investment Management Companies

People buy from the people they like- It’s the plain truth! In any role in investment management, thinking about the client’s need is of utmost importance. Client relations in investment management are in high demand and multi-dimensional, investment management...

Efficient Client Onboarding In The Investment Industry

Client onboarding can be quite challenging, time-consuming, expensive and success is never guaranteed. However, client onboarding is emerging as a major focal point for investment banks and financial institutions which struggle with evolving market dynamics,...

Why Investment Industry Needs a Deal Management Platform

With the ever-increasing wave of compliance and regulations, investment banks are looking to restructure their practice to become more agile and capital-conscious. As the regular and compliance costs rise, investment banks are under the intense pressure to cut down...

Don’t compromise growth with manual operations or isolated apps.

Manage all your company operations in one cohesive system, covering sales, customer service and all your operations to drive processes, productivity, and consistency the way you want.