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As the economy begins to pick up steam, the opportunities will become more plentiful for growing your sales. But instead of depending on the economy, why not review your current sales methods to see if they can be adjusted to begin to increase sales now. Here are some of the most effective and practical ways to increase sales that we've observed. Which of these can help you increase sales? These suggestions fall into 3 parts: Part A. Finding New Customers (In this Issue)
Part B. Close More Estimates and Increase Your Average Sale (Coming in our October Newsletter)
Part C. Increasing sales from existing customers. (Coming in our October Newsletter)
Part A. Finding New Customers 1. Selling by the Numbers What are your C-A-S numbers? To make one Sale to a new customer, how many Appointments do you need? And how many Calls did it take to get each Appointment? For example, if you know it takes 10 calls to get an appointment, and that you need 1 new appointment each day to make one new sale each week, then you know that you need to make 50 calls each week. And keep in mind, once that new customer has bought a sign from you, there are numerous things you can do to increase the chances of them becoming repeat purchasers. 2. Network, Network, and Network Some More Making sales calls to new prospects is an essential part of growing sales. But networking is equally important. Networking will enable you to get introductions to a) people that need your products; and, b) people that may know other people that need your products. And if done well, networking can make it faster and easier to build the relationships with the prospect. There are several methods for networking. Let's take a look at three approaches: targeting an industry; joining / forming a networking group; and, joining a local community or civic group. a. Targeting an Industry: Are you targeting the key industries for your products? Do you know who the companies in these industries are in your area, and who the decision makers are? Are you constantly working on developing better relationships with the decision makers in these businesses? For example, let's take a look at targeting interior and exterior building signage for existing buildings in your area. Do you have a strong relationship with a real estate property manager or building owner? If so, ask that property manager if they would coach you on growing your business here. Ask questions like what signage related problems are property managers likely to have? And what else is on their wish list? How can I find a list of the other property managers in town and their contact information? If one doesn't exist, will you help me make one? Would you give me a favorable introduction? Many cities will have a published directory which will list all the property managers, leasing agents, developers, and construction firms (e.g. Black Guide, Maddux Report). Next, you call these other property managers and arrange appointments. When meeting these prospects, be prepared with a few key questions and be prepared to listen. It is critical that you find out what their personal and business objectives are, and which objectives your company could help them achieve better. Regardless of what industry you want to target, there are key people and sources of information that can be enormously helpful for you. Look through your contacts to see which may be able to help you in this effort. Other good sources include local business newspapers, many of which will compile "Book of Lists" (a list of the leading companies by industry in your area). This makes a great prospect list. Another good resource is your local Chamber of Commerce or Economic Development Commission. It's worth taking the head of these organizations to lunch to learn more about what they are doing that might benefit you if you were to join. Use SMS to collect what you are learning from your insider and about your new prospects. Winning the business of these new prospects may take time. And when they give you the chance, you want to make sure that you get it 100% right the first time. To help in this process, use SMS to help you to remember their needs better and to win their business. b. Joining / Forming a Networking Group: If you're not already in a productive networking group, you ought to think about joining or starting one. There are many ways to form a networking group. Here is one example: Think about people you know that meet the following:
This group should meet every week in a place where you can have some fun and some confidentiality. It is important that people feel comfortable sharing their ideas openly. And finally, have some patience. It may take a few months for the group to "gel" and begin to trust each other. This is a necessary first step. c. Join a Local Community or Civic Group: Most areas have numerous organizations that you can join that will be beneficial for networking. Let's take Rotary International for example. Rotary is a club that meets weekly to discuss local issues, work on local community service projects, have fun and network. It's a great way to meet new people, often times business owners and leaders, and to get involved in your community. And with a club like Rotary that has hundreds of chapters, there will likely be a few in your area that you can visit. Rotary is just one example. It's important to find a club or group that fits with your interests and business. One final detail: Be sure to see if the group you are thinking of joining has any rules regarding business networking. Some organizations restrict this kind of activity. Next Issue … Join us in the next issue to read more ideas on closing more estimates, increasing your average sale, and increasing sales from existing customers. For more information on using Cyrious software to increase sales, we recommend that you contact Cyrious Software at 800-552-1418 (U.S.) or 001-225-752-2867 for international callers, or by email at info@cyrious.com.
- This Months Humor Mill entry comes to us via the Internet from Anonymous. At a recent computer expo (COMDEX), Bill Gates reportedly compared the computer industry with the auto industry and stated, "If GM had kept up with technology like the computer industry has, we would all be driving $25 cars that got 1,000 miles to the gallon." In response to Bill's comments, General Motors issued a press release stating: If GM had developed technology like Microsoft, we would all be driving cars with the following characteristics:
Think you have the next "Joke of the Month"? If your joke is selected, you win $50 off your next purchase. All you have to do is click the link and e-mail us your name, e-mail address, and name of your business to enter. Submit your jokes here.
Most economists expect the economy to continue growing throughout the year, with increases in nearly every sector except telecommunications. The U.S. economy is on track to grow by as much as 4 percent in the remainder of 2003. Many speculate this growth was infused by tax cuts and mortgage refinancing. In the close future, the labor market is also expected to improve. Already unemployment claims are down from past months. On the whole, the economy is looking up. What does this mean for you? More money in a healthier economy usually results in increased spending on marketing related goods (i.e. print ads, trade-show signs, etc...). Get ready for a strong finish to a slow year.
Positioning Your Company For Prosperity With the economy on the upswing this is good news for everyone. It is a slow comeback for sure and as always there will be naysayers who continue with "the sky is falling" cry. But take heart; there are some things you can control regarding the success of your business. For a positive approach to doing business in today's market, be sure to read: Benefits of Advertising in Any Economy. Click here for full story
Did you know? 5 or more servings of fruits and vegetables per day are recommended for optimal nutritional health? However, many people have a hard time fitting 5 servings into their daily diet. Here are a few tips to help you get your 5 a day:
Serious Problems / Cyrious Solutions Each month, we will raise one common problem in the sign and graphics industry, and demonstrate how Cyrious Software directly solves this problem:
Q: Do you have inconsistent or unprofitable estimates? As the owner or manager, are you the bottleneck for estimating?
A: Cyrious Software is so easy to use for estimating that you can teach other people to estimate almost any job. It's fast enough to save you hours of work each week. The software is also extremely profitable because all estimates are consistent & estimators are reminded to sell add-ons and to make follow-up calls.
"There must be a beginning of any great matter, but the continuing unto the end until it be thoroughly finished yields true glory."
Francis Drake, 1587
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