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Some General Rules To Help You Sell In The Post Recession Economy
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Read More Great Marketing Articles
Some General Rules To Help You Sell In The Post Recession Economy
The 90's and early 2000's were a time of great expansion and sales growth was expected and assumed. However, as we come out of this recession, this kind of sales growth cannot continue to be expected.
By: Michael Davel Anderson
The 90's and early 2000's were a time of great expansion and sales growth was expected and assumed. However, as we come out of this recession, this kind of sales growth cannot continue to be expected.
By: Michael Davel Anderson
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With the future not being as rosy and with more uncertainty, the sales effort has to become more focused and the company has to spend a lot more time and effort on selling.
The first step is to watch your current customers closely. So long as the company has been doing a reasonable job, your current customers are your best resource. What would happen if you lost your top two customers? With the 80:20 rule, we know that the top 20% of customers make up 80% of sales, and with many companies, the top two customers are as much as 50%. Their loss will be devastating. So what are you doing to make sure your competitors do not steal your top customers?
If the only thing you have to keep a customer is the lowest price, there is always someone who will beat your price. What have you done (or are you doing) to insure the customer won't bolt when someone quotes the work at $1 cheaper? You have to have more of a relationship with your customers than just price.
Make sure everything in your products and services is the best you can make it and if it's not, get it fixed. Compare everything the customer sees about your company to the competition. If it's not perfect, or as good as you can make it, fix it.
Yes, what we are talking about is customer service. Your customer is going to pay you good money, and you already know you have to give him good product, but what makes the difference, and will bring him back next time, is good customer service.
Sales cost is a major factor in all businesses, and the customer you don't have to go out and get is the best. Look after your current customers, and they will come back and look after you.
With 45 years of experience in leading positions in business across North America and internationally, Mike Anderson knows the business of business. More important, he has learned how to teach it. He is now consulting to small and medium sized companies, specializing in CEO and senior management training. Please Visit www.trainmetobeaceo.blogspot.com
The first step is to watch your current customers closely. So long as the company has been doing a reasonable job, your current customers are your best resource. What would happen if you lost your top two customers? With the 80:20 rule, we know that the top 20% of customers make up 80% of sales, and with many companies, the top two customers are as much as 50%. Their loss will be devastating. So what are you doing to make sure your competitors do not steal your top customers?
If the only thing you have to keep a customer is the lowest price, there is always someone who will beat your price. What have you done (or are you doing) to insure the customer won't bolt when someone quotes the work at $1 cheaper? You have to have more of a relationship with your customers than just price.
Make sure everything in your products and services is the best you can make it and if it's not, get it fixed. Compare everything the customer sees about your company to the competition. If it's not perfect, or as good as you can make it, fix it.
Yes, what we are talking about is customer service. Your customer is going to pay you good money, and you already know you have to give him good product, but what makes the difference, and will bring him back next time, is good customer service.
Sales cost is a major factor in all businesses, and the customer you don't have to go out and get is the best. Look after your current customers, and they will come back and look after you.
With 45 years of experience in leading positions in business across North America and internationally, Mike Anderson knows the business of business. More important, he has learned how to teach it. He is now consulting to small and medium sized companies, specializing in CEO and senior management training. Please Visit www.trainmetobeaceo.blogspot.com