This fourth quarter seems especially challenging. We have a handle on accounts receivable, our margins are decent and we have some money in the bank. Now focus on sales?
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This owner has the right attitude. Use sales to move the business forward, or keep it out of a slump. Focus on offense rather than defense.
Here are some things you can do to build up sales. Define the team who will work on sales. Review customer lists for opportunity. Define strategies for getting new leads. Look for opportunities to join forces. Make it everyone”™s job to build sales, which in turn will do the most to help save everyone”™s job.
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Get to work
Start with asking staff to pitch in. Some people may be able to research prospects. Others may be able to build a database. If you”™re lucky, you have one or more people who are good at making appointments; they can call prospects and set up meetings for sales people. Get a group of people together to go to a trade show to hand out literature and gather business cards.
Perhaps one or more people are especially good at talking to customers. Put them to work calling past customers and asking for additional business. Find out what old customers need, then get to work providing it.
Ask why they bought from you last time. How satisfied were they with the products, services and support? Will they consider your company again? What is it that they might need that you could supply?
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Make room for growth
Make space for new prospects. New customers are more likely to walk in the door, and be recognized when they approach your company, if there”™s room for them. Be open to the possibility of something even better coming along, if only you”™ll eliminate problem accounts.
There are lots of ways to open the door to new leads. Telemarketing, cold calling, referrals, testimonials, advertising, direct mail and e-mail blasts are just a few. Don”™t slow down on these efforts just because finances are tight ”“ in fact, speed things up to get cash flow moving.
Telemarketing is a great tool in a recession. Many buyers get conservative, don”™t know where to focus and are less likely to open their wallets without prompting. Effective telemarketing can reach across the barriers of confusion, concern and hesitation.
Gather testimonials. Maybe you saved clients money, increased their profit or helped them expand. Buyers fear making a mistake. Testimonials help to reassure them that they”™re taking the right step in hiring your company.
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Combine forces
Find other companies that call on your target market, but that don”™t compete directly with your company. Offer to share marketing costs. Opening the door to a new prospect is often the most expensive and time consuming part of the sale. If two of you are sharing efforts, you may get twice as far, or cover the same ground for half the cost.
If you can find companies with complimentary services, propose more than lead sharing. Offer to expose your customer list to their services, if they”™ll do the same for you. One of you already has a trusted relationship. That makes it easier to open the door for the other.
Involve everyone ”“ help them see the importance of their role in the success of your company”™s sales. From the time the phone gets answered, until the client says “Thank you,” it”™s up to everyone to make prospects feel welcome.
Explain it to employees this way. A growing company creates opportunity and ensures jobs are there. Helping to get the next customer and keep the last one, leads to job security, especially in tough economic times.
Looking for a good book? Try “The Ultimate Small Business Marketing Toolkit: All the Tips, Forms and Strategies You”™ll Ever Need,” by Beth Goldstein.
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Andi Gray is president of Strategy Leaders Inc., a business consulting firm that specializes in helping privately held businesses grow. Do you have a question for Andi? Please send it to her, via e-mail at AskAndi@StrategyLeaders.com.