Donna Brassard, former publisher of Mainebiz and now owner of business consulting firm Strategies+, advises a reader whose sales have hit a plateau. The reader asks a familiar question: “What are we doing wrong?”
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Q: Our sales numbers are flat again this year. I’m not sure I can ask my team to do much more. They are all putting in lots of hours and I’m concerned about burnout. Our best efforts are not getting results. What are we doing wrong?
ACE advises: Remember the old adage, “The definition of insanity is doing the same thing over and over again and expecting a different result.” Working harder or for more hours may mean that you are working on the wrong things. Let’s not be crazy. Let’s be strategic.
Information drives sales strategy: I’ve seen cases where companies have put the most effort into selling the least profitable product. To develop a sales strategy, you need information. Take some time to evaluate your revenue streams. How deep is your understanding of where your sales come from and how they come to you? Sure, you can quote the top line, but dig deeper: Which revenue “bucket” is growing or static or losing sales? Which product is most profitable?
Know your customers, the market and your people: How well do you know your customers and why they do business with you? What’s your customer churn? Don’t expect that every client will remain a client, or even have the same buying habits every year. In fact, expect the opposite. Turnover is a given, so you need to replace lost business before you can grow your top line.
Consider these questions:
- Are you replacing 20%, 30%, 50% or more every year? Do you have a clear picture of who your best prospects are, and why they may not do business with you?
- Have there been changes in the marketplace? How are your competitors doing? Are you in a position to act on new opportunities as they become available? If no, why not?
- Are your sales people motivated to build a book of business or are they comfortable where they are? How committed are you to training them? Are they accountable to you?
Your strategy and success depend on the answers to these questions.
For more on this topic, see “How to Jumpstart Your Sales” at consultexpertise.com/blog/12252603.
Donna Brassard, former publisher of Mainebiz, is owner of Strategies+, a business consulting firm that helps businesses maximize their potential. Learn more at strategiesplus.biz, and you can reach Donna at db55me@gmail.com
