Every company has the wish to increase turnover. But how do you do that? Basically there are two ways to increase turnover:
Two ways to increase turnover
- more clients
- more products
Selling the current product to more clients will increase sales. Selling new products to current clients will also increase sales. But how can we increase the number of clients. Basically there are five ways.
Five ways to grow the amount of clients
- more sales activities
- more marketing activities
- improve sales efficiency
- improve marketing effectiveness
If a company is successful then it would make sense to do more of the same. The success-formula can be copied to new internal markets. Exporting is also an option (Business-Developer.nl can help you enter the Dutch market). Repeat the success abroad.
If the sales-process is not running smoothly then it would be wise to “sharpen the blade”. Start with mapping the complete sales process and research at which steps potentials are lost.
Some possible causes for low sales efficiency are:
- no Sales focus
- which sub-product-submarket combination thrives your turnover?
- potential feels misunderstood
- the sales agent talks more than he listens. If you don’t understand the problem of the potential, how could you possibly fix it
- potential is doubtful his problem will be fixed
- the product does not fix the problem to full content
- The product developer does not listen to clients of sales agents
- not all obstacles the potential sees have been overcome
- The sales-agent lags the sensitivity to spot the obstacles
- target group is not mapped
- do you know exactly when each potential is in the market in the coming year and which product you should offer? Register all contact-moment in you CRM. Start with yearmonthday to be able to sort by date. Ask you client what date would be meaningful to contact again. Make a note to call at that date. Open the conversation which referring to the last time you called and what was discussed
- Price to high
- Your client must be able to make money with you product
- personally I’m not convinces about the price-elasticity theory
- negotiating about the price is a last resort and unnecessary if the product best solves a problem
- the problem that your product solves is not in the top 5 of problems
- if the potential acknowledges the problem but only invests in the top 5 problems, then it might be wise to ask what this top5 includes and next create a new product
Improving Marketing effectiveness
The effectiveness of marketing is already at debate since years Marketing is often not accountable. An enthusiastic marketing team often start with a lot of new plans but they are unable to predict what the result will be. Or your marketing manager does the same thing as last year because this worked 10 years ago.
An often misunderstood idea in marketing is that strangers must be turned into clients. But strangers should be turned into friends first. Friends can be turned into clients. A marketing activity should connect a stranger in your target group to your company. A newspaper add will vaporize very soon with no long-term effect.
When a consumer likes the company Facebook-page the company is able to stay in touch by blogging messages on the Facebook-page. The same goes for the website blog, newsletter, company newspaper etc. Before and after each marketing activity it should be clear how many more strangers have been connected.
During marketing activities us AB-testing to improve effectiveness
If two companies have products that are complementary it is possible to use each other’s sales and marketing infrastructure. The cooperating company will piggy-bag your products during their sales attempts. Meanwhile your sales agent has extra means to connect the potential to your company.
If you want us to support you in your sales activities feel free to contact us. We will gladly talk about what you need and explain how we can help.