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5 Ways to Stimulate Sales Growth and Business Value
By Dennis
Sommer
Are you looking for new ways to stimulate your sales
growth and ultimately increase the value of your business
? In today’s challenging business environment, dramatic
sales growth may seem impossible to achieve.
Maybe your sales revenue is down. Or, your sales growth
year over year rarely exceeds 20% and you can’t figure
out how to overcome this hurdle.
In today's business climate, if you haven’t changed
the way you are doing business, you will never be able
to improve your sales growth, business value or overall
business performance.
In this article we will introduce 5 proven strategies
you can implement to quickly improve sales growth and
increase the value of your business.
1. Focus on Niche Markets
Selling everything to everyone in a major market can
blur your image and is very competitive. Instead, position
yourself as a market leader in a niche market.
Niche specialists focus on specific industries or type
of customers. Based on previous sales history, pick
a niche market that drives your greatest sales, profitability
and quickest sales cycle.
Focus your efforts on the proven niche market and this
will drive sales growth with the least amount of effort.
Niche market leaders generate strong sales revenue and
profit growth driving up the value of their business.
2. Repackage Your Offerings
Drive dramatic sales growth by reinventing what you
offer customers in a manner that increases sales volume
and profitability. Bigger sales revenue and profitability
comes from bigger offerings. Offer super sizes, volume
discounts, extended contracts or product bundles.
Try small “Early Buy” incentives to increase volume,
but keep them small with a time limit. Stand strong
on the value your offering provides and stick with the
original price. Do not discount pricing on your offerings
if they truly provide the value described.
Provide three options or price points. Customers are
more likely not to choice the lowest price. Use a set
of three options to move customers from the lowest to
the middle price range. Make sure each range is well
defined and the differences stand out.
Repacking your offerings will increase sales revenue
and reduce your sales and marketing costs, driving up
the value of your business.
3. Sell Proprietary Products
Unique design, functionality and technology can make
your products proprietary, which can increase the desirability
of your products/services and the price a buyer is willing
to pay. Proprietary products offer protection from the
competition and enables you to sell your products at
a higher price and profitability.
4. Differentiate Yourself
Similar to selling proprietary products, you can sell
more at a higher price if your customer perceives your
products and services are unique and different than
others on the market. Even if you sell products that
are not proprietary, you must show your customers what
makes you different than everyone else. When you do
this successfully, you become the best choice and selling
at a higher price will not be an issue.
5. Get Rid of Underperformers
The best way to dramatically lower your costs and improve
profitability is to get rid of all your underperformers.
I mean all of them. Evaluate all of your products and
services and shelve them if they are not profitable
or help drive sales of other offerings.
Stop all marketing that is not delivering a positive
return on investment. You should also evaluate your
sales team and eliminate underperformers. This is a
perfect time to build a strong team of top performers.
Spending less time on underperformers will help you
drive sales growth and improve your business performance.
Next Step
Doing the same old thing, the same way or working
harder will not help you improve sales growth or the
value of your business.
Starting today, look at changing the way you do business.
About The Author
- Dennis Sommer
Dennis Sommer
- CEO, Executive Business Advisers - provides the guidance
you need to take your business to the next level.
Dennis is a business improvement specialist.
Delivering quick, dramatic results has made Dennis a
highly sought after business consultant, CEO and executive
adviser.
Dennis works with a diverse mix of product and professional
service companies. His clients include small start-ups,
medium sized businesses and large Fortune 100 companies.
He helps his clients find new strategies for stimulating
sales revenue growth, attracting new customers, increasing
profits, reducing costs without sacrificing service
and much more.
Dennis is also highly sought after keynote, seminar
speaker and author. His latest bestselling book is “Adviser
Secrets – How to Become a Top Performer”.
For additional information:
Company: www.executivebusinessadvisers.com
Bio: www.dennissommer.com
Contact Dennis Sommer at 800-627-6512.
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