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5 Ways to Stimulate Sales Growth and Business Value
Written by: Dennis SommerArticle Overview: Are you looking for new ways to stimulate your sales growth and ultimately increase the value of your business ? In today’s challenging business environment, dramatic sales growth may seem impossible to achieve. In this article we will introduce 5 proven strategies you can implement to quickly improve sales growth and increase the value of your business.
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5 Ways to Stimulate Sales Growth and Business Value
Are you looking for new ways to stimulate your sales growth and ultimately increase the value of your business ? In today's challenging business environment, dramatic sales growth may seem impossible to achieve.
Maybe your sales revenue is down. Or, your sales growth year over year rarely exceeds 20% and you can't figure out how to overcome this hurdle.
In today's business climate, if you haven't changed the way you are doing business, you will never be able to improve your sales growth, business value or overall business performance.
In this article we will introduce 5 proven strategies you can implement to quickly improve sales growth and increase the value of your business.
1. Focus on Niche Markets
Selling everything to everyone in a major market can blur your image and is very competitive. Instead, position yourself as a market leader in a niche market.
Niche specialists focus on specific industries or type of customers. Based on previous sales history, pick a niche market that drives your greatest sales, profitability and quickest sales cycle.
Focus your efforts on the proven niche market and this will drive sales growth with the least amount of effort. Niche market leaders generate strong sales revenue and profit growth driving up the value of their business.
2. Repackage Your Offerings
Drive dramatic sales growth by reinventing what you offer customers in a manner that increases sales volume and profitability. Bigger sales revenue and profitability comes from bigger offerings. Offer super sizes, volume discounts, extended contracts or product bundles.
Try small "Early Buy" incentives to increase volume, but keep them small with a time limit. Stand strong on the value your offering provides and stick with the original price. Do not discount pricing on your offerings if they truly provide the value described.
Provide three options or price points. Customers are more likely not to choice the lowest price. Use a set of three options to move customers from the lowest to the middle price range. Make sure each range is well defined and the differences stand out.
Repacking your offerings will increase sales revenue and reduce your sales and marketing costs, driving up the value of your business.
3. Sell Proprietary Products
Unique design, functionality and technology can make your products proprietary, which can increase the desirability of your products/services and the price a buyer is willing to pay. Proprietary products offer protection from the competition and enables you to sell your products at a higher price and profitability.
4. Differentiate Yourself
Similar to selling proprietary products, you can sell more at a higher price if your customer perceives your products and services are unique and different than others on the market. Even if you sell products that are not proprietary, you must show your customers what makes you different than everyone else. When you do this successfully, you become the best choice and selling at a higher price will not be an issue.
5. Get Rid of Underperformers
The best way to dramatically lower your costs and improve profitability is to get rid of all your underperformers. I mean all of them. Evaluate all of your products and services and shelve them if they are not profitable or help drive sales of other offerings.
Stop all marketing that is not delivering a positive return on investment. You should also evaluate your sales team and eliminate underperformers. This is a perfect time to build a strong team of top performers.
Spending less time on underperformers will help you drive sales growth and improve your business performance.
Next Step
Doing the same old thing, the same way or working harder will not help you improve sales growth or the value of your business.
Starting today, look at changing the way you do business.
© Copyrighted by Dennis Sommer - CEO, Executive Business Advisers. All rights reserved.
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Article Tags: business climate, business environment, business performance, business value, growth business, hurdle, market leader, market leaders, niche market, niche markets, previous sales, product bundles, profit growth, profitability, sales history, sales volume, specific industries, strong sales, time limit, volume discounts
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About the Author: Dennis Sommer RSS for Dennis's articles - Visit Dennis's website  Dennis Sommer, CEO or Executive Business Advisers is a highly sought after sales, marketing and business improvement expert. His specialty is helping CEO's and executive teams improve their business performance and growth. Dennis has been advising business leaders for over 25 years. He takes great pride in helping his clients succeed and adding value to their business. His consulting services, coaching and training is focused on the six key areas of business improvement - your business strategy, sales, marketing, operations, financial management and staff. Using his proven, copyrighted business improvement methodology, Dennis will evaluate what you are doing today, develop an extensive list of detailed business improvement recommendations and help you implement the changes needed to dramatically improve your business performance and growth. For additional information: Company: http://www.executivebusinessadvisers.com/ Bio: http://www.dennissommer.com/ Contact Dennis Sommer at 800-627-6512. Click here to visit Dennis's website   15 Critical Leadership Skills You Need Today 5 Tweaks to Energize Your Business Improvement and Growth Business and Sales Growth Secrets for 2009 5 Ways to Stimulate Sales Growth and Business Value Improving Business Performance by Creating High Performance Teams |
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New Small Business Topic
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I'm on the lookout for new topics to add to my site. We just launched a Franchising section and are planning Human Resources section. Do you have any thoughts for a new section?
Here's a list of what we currently have:
Angel Investors
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Franchises (New)
Insurance
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Online Sales and Marketing vs Traditional
- Hi Evan,
I am noticing that many of the posts in the Sales/Marketing section deal with online marketing, SEM and and SEO and Affiliates. I was wondering if it might be a good idea to separate that section into two; 1) Online Sales and Marketing; 2) Traditional Sales and Marketing
Different Hats
- CEO Sales & Marketing & Leadership Development Company
Strategic Vision 10
Alliances & Growth Strategies 10
Hiring & Managing People 8
Mentoring 8-9
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Great topic Kevin!!
Jude
Re: Online Sales and Marketing vs Traditional
- [quote="ltrahan":31w9r2iz]Hi Evan,
I am noticing that many of the posts in the Sales/Marketing section deal with online marketing, SEM and and SEO and Affiliates. I was wondering if it might be a good idea to separate that section into two; 1) Online Sales and Marketing; 2) Traditional Sales and Marketing[/quote:31w9r2iz]
I second the request...
My entry
- 1. The Best Business Books Ever: The 100 Most Influential Business Books You'll Never Have Time to Read
- this is a fascinating book about the history of Business theory, and I'd recommend it to anybody.
2. The Big Book of Small Business: You Don't Have to Run Your Business by the Seat of Your Pants, by Tom Gegax. Ditto.
3. PADI: The Business of Diving Book
Okay, so this book won't be of use to anyone who doesn't want to start a scuba store, but I did, and this book was of course invaluable to me in reaching that goal.
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