What gets measured gets managed. You would have heard this several times. There is so much focus on measuring and reporting all data that is easily available. This leads to information overload. Colorful charts on the projector screen scream for attention. Quite often, teams waste energy and time on meaningless reports. What are you monitoring? What are your goals? Are you chasing the right goals?
Increase in sales revenue and profitability are the two most common objectives for every business. Businesses measure month on month, quarter on quarter, year on year growth in sales. However, it is important to segment the growth data for actionable insights. How do you measure business growth? Do you look at the overall trend? Do you segment customers into groups and monitor trend for each group?
Sales is less art and more science. The skills to excel in sales can be taught. However, there are lots of common misconceptions and sales myths you should avoid. You would have heard some or all of these 6 sales myths.
This is a sales case study with two examples. Minu, a banker and Suraj, a relationship manager with an insurance company meet Rajat to convince him for investing in respective schemes. What made them lose or win the sale?
A great product or service needs to be complemented with a dedicated sales team and innovative sales strategies. Lets look at 3 tips to increase sales.
The assessment of the returns on investment (ROI) of human capital can get you into a tricky territory. Unlike other resources, you cannot have an absolute objective assessment of human resources. I would not suggest you to do so either. People should not be judged solely based on some metrics on a dashboard. Contribution of employees go beyond numbers reflected in performance reports. However, as a business owner, it is important you measure the ROI of human capital.
Profitability and sustainability for most businesses depend upon customer loyalty. Repeat transactions from customers is what every business aims for. You may have heard about the concept of measuring customer life time value (LTV). There are several strategies and tactics businesses use to lure customers into repeat and more frequent transactions. Delivering a great customer service is one of these and is a zero cost strategy.
This has been a year of forced changes. The global pandemic has forced us to change the ways we live, work and interact. It certainly has given a push to everything digital. Online shopping, online classes for kids, webinars, video calling, online doctor consultations. The shift in consumer behavior towards digital needs an identical shift in business strategies. It has been so for the past few years. However, digital will play an even bigger role in sales and marketing. How to plan your small business marketing strategy in 2020.
How Important is Business Strategy?
Business strategy is intended to give your team the direction and guidance. How to win more customers? How to stay ahead of the competition? How to establish a clear value proposition? How to turn profitable and sustain growth?
New Business Idea: Cloud Call Center Solution
Traditional call center setup required high start-up capital and equally high maintenance costs as well as logistical complexity. A cloud call center can be setup within a few hours and there are no significant hardware, software or maintenance costs.
How to choose a CRM for your Small Business?
Data collection, integration, analysis have become critical for success in sales. This has made CRM software immensely popular in the last one decade. There are plenty of options available, both free and paid. How do you choose the most appropriate CRM for your small business?
todo.vu CRM for Small Business, Consultants and Freelancers
Small business owners, independent consultants and freelancers often look for FREE or budget friendly options for their business requirements. todo.vu claims to bring all your customer management and project management into one place, with built in time tracking and billing.
3 Tips to Increase Sales for Your Small Business
A great product or service needs to be complemented with a dedicated sales team and innovative sales strategies. Lets look at 3 tips to increase sales.
