Economists will look back on 2020 as a year with a distinct before and after. In early March, most companies’ sales projections looked a certain way. Just a few weeks later, those projections had changed significantly — and not for the better. Because of the COVID-19...
Most business owners would probably agree that, when it comes to sales, there is always room for improvement. To this end, every company should strive for organic sales growth — that is, increases from existing operations unrelated to a merger or acquisition. That is not to...
Take a mental snapshot of your sales staff. Do only a few of its members consistently bring in high volumes of good margin sales? An old rule of thumb says that about 20 percent of salespeople will make 80 percent of sales; in other words,...
“Love and marriage,” goes the old song: “…You can’t have one without the other.” This also holds true for sales and marketing. Even the best of sales staffs will struggle if not supported by a well-researched and carefully executed marketing plan. Here are six ways...
When market competition heats up, you might provide extra incentives for your sales staff to perform. But be careful: some employees may step over the line — to earn bigger bonuses or out of enthusiasm for the challenge — and use unethical sales tactics. Take...
Autumn brings falling leaves and…the gridiron. Football teams — from high school to pro — are trying to put as many wins on the board as possible to make this season a special one. For business owners, sports can highlight important lessons about profitability. One in...
Among the fastest ways for a business to fail is because of mismanagement or malfeasance by ownership. On the other hand, among the slowest ways is an ineffective or dysfunctional sales department. Companies suffering from this malady may maintain just enough sales to stay afloat for...
Does your business market its products or services to other companies? Or might it start doing so in the future? If so, it is critical to recognize the key differences between marketing to the public — or even certain segments of the public — and...
‘Gamification.’ It is perhaps an odd word, but it is a cool concept that has become popular among many types of businesses. In its most general sense, the term refers to integrating characteristics of game-playing into business-related tasks to excite and engage the people involved. Might...
“I could sell water to a whale.” Indeed, most salespeople possess an abundance of confidence. One could say it is a prerequisite for the job. Because of their remarkable self-assurance, sales staffers might appear to be largely autonomous. Hand them something to sell, tell them a...