Revenue Growth Strategies
Growing revenues is a multifaceted process that involves analyzing the core markets, developing sustainable sales processes and ensuring the company has the appropriate product or service mix. In many cases, a company can employ revenue growth strategies with existing customers by simply cross selling similar product or service offerings.
We work with business owners to study their business and advise on which areas can have the biggest impact on revenue growth. By using our unique approach to removing the obstructions to higher revenue growth we are able to help business owners achieve their strategic goals.
Target Markets and Competitors
The first thing we will look at is the markets you are targeting with your sales efforts and who your competitors are. Are your markets growing, flat or shrinking? Are you markets being replaced due to technological advances or global market pressures? Do you know who your top competitors are, how they market themselves and what their growth strategies are? These are areas we will explore with you in order to devise components for a revenue growth strategy.
Sales Closing Rate
Do you track your sales closing rate or even how many contacts you make on a periodic basis? Without knowing the details of your tactical sales activities you cannot measure your sales performance. We will work with you to setup a system to monitor your sales activities so that you can get critical Key Performance Indicators (KPIs) for your sales efforts which will allow us to identify ways to increase closings as part of a revenue growth strategy.
Sales Compensation Plans
Do your sales compensation plans for your sales people or channel partners properly incentivize your salesforce? A properly devised compensation plan will motivate your salesforce to achieve corporate goals and objectives in a way that maximizes compensation for the salesperson. If the corporate objective is to diversify the customer base then the compensation plan should emphasize that through higher payout for new customer orders. This is just one of the possible ways to optimize the compensation plan to drive the revenue growth strategy.
Product / Service Mix and Cross Selling
Is your product or service mix directed to maximize revenue and profits? Do you offer additional services to your existing clients to derive maximum revenue per customer? We will work with you to study your product / service mix and margin rates to identify an approach to drive revenue growth and maximize profits for the business. Optimizing the product / service mix and identifying ways to cross sell additional products / services is key to any revenue growth strategy.
Each business is unique and you deserve to be heard by a true professional when discussing your situation. Contact Us to get that personalized approach you have been searching for.