Three Things that you can do about Sales
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The document outlines five common obstacles to revenue growth for businesses: 1) relying on assumptions rather than data, 2) ignoring how customers purchase, 3) allowing products/services to become commodities, 4) inconsistent marketing, and 5) reactive management. It then provides three suggestions to address these obstacles: 1) understand customer purchasing behaviors, 2) focus marketing on value rather than the business, and 3) become a trusted advisor to clients through insights and planning support. Overcoming these obstacles can help businesses and their advisors like KPMG through increased engagements, referrals, and profits.
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Three Things that you can do about Sales
- 1. ( And three things that can be done about it.) The five most common obstacles to revenue growth
- 2. The five most common obstacles to revenue growth (and three things that you can do about it)
Hinweis der Redaktion
- Since we rely on the success of local commerce, as do you and everyone else in this community, we feel it's our obligation to make sure local businesses are as successful as possible. So we have taken three years worth of research and created a 20 minute educational seminar that shows the five most common obstacles to revenue growth. The seminar also shows three untapped opportunities for growth. Over the next few months we are presenting this information to the other national accounting firms in Vancouver and thought you may want to learn what the others will be learning.
- We have the research
- 1. Focus on activities vs. key drivers of business success VP Ops assumes 5% linear growth Projecting interest rates or CDN dollar over next 6 months. Selective revenue allocations I 2. e counting the no of new leads vs. the share of leads that give a sale or, measuring reach or frequency but not knowing if you are getting the message We tried that and it did not work 3. Lack of staff training Not setting up support structures
- Most are not ready when you are 3% rule All suspects and no prospects If it takes more than one phone call to fix an issue the client is 10x more likely to defect. Happy client tells 5 people, unhappy client tells 15. “ I have to do it all myself if I want customer service done right.”
- Butterflies or true friends Sales makes quota - but it’s the low margin quick easy sales with buy once customers vs. those whose will pay more , more often. Why should they trust you to look after them?
- I, Me our, Field of Dreams Me- too? Focus on features Missing the target- who is the target Marketing insanity Underestimating the competition (the English nobility effect) Failure to anticipate market trends Failure to change with the times Inconsistent campaigns/story Missing the target
- Don't know that they don't know Since they don’t know Weak and inexperienced management Inability to delegate tasks. Can only see trees, not the forest Confuse activity and tactics with strategy Especially making an excuse for any and everything that causes you to stumble.
- What makes you unique and attractive for your customers. Summarize your key selling points that make your product or service a 'must have' for your clients. They search logically but buy emotionally They prefer a trusted vendor to someone new
- More than counting the no of new leads vs. the share of leads that give a sale or, measuring reach or frequency without knowing if you are getting the message the right people You must plan. If you are caught up in handling the everyday operations of your business and neglect your marketing, you quickly will have no business. Make it easy to see your value Create opportunities to sell additional products or services to the same customer in the future
- Provide Industry benchmarks Show sales how to read a financial report Suggest qualified companies to work with on their problems i.e. Rocket Builders
- And all the stats you ever wanted