7 secrets to increase your turnover

 

Behind this title, a tad touting, I grant you, hides a real managerial problem: how to increase his turnover and develop the sales of his company . Among the many questions (taxation, HR, cash, charges, crises to name just these five) that punctuate the day of a business leader, one question constantly torments the director: how to find new clients and achieve my goals of sales volume and turnover?


Historically, there are two lungs of turnover: prospecting and loyalty. This is still valid today, but the methods have changed dramatically .

Why ?

Because your interlocutor has changed the way they buy in B2C (80% of consumers check the internet before buying according to IFOP ) as well as in B2B (where on average 6.8 people are involved in the purchasing process according to Gartner ).

The two profiles now have the choice of an almost "planetary" offer just a click away. There were in fact 6 competitors per company in 2014 against 22 competitors in 2019 (source Hubspot Research).

Faced with this paradigm shift and these new rules, how do you get out of the game ? Of course, there are many methods to grow sales in value and this is not to list classic sales promotion tactics or detail like some on the web do about how to become. rich by working 4 hours a week. In this article, we reveal the 7 secrets of the moment to increase your turnover.

 


Redefine the prospecting / loyalty balance

The 2 legs of your turnover are prospecting (finding new customers, thanks to Account Based Marketing for example) and loyalty (better billing to known customers and offering them an unforgettable customer experience so that they recommend you ).

To review the balance, you can do these 2 very simple exercises: 

1.1. List your current customers and the prospects you are targeting:

  • Who are your most profitable customers ?

  • Which customers are the value-minded customers ?

  • Who are the most satisfied customers with your services or products and ready to recommend you?

1.2. Classify your client portfolio in a simple table of 4 columns: 



Precisely, to retain your GREEN customers and invite them to recommend you to others , a CRM (customer relationship management) will allow you to get to know them better. So you will sell more by seizing up-sell ( up- market) and / or cross-sell ( cross- selling) opportunities, and by refining in particular the RFM study , namely the Purchasing Recency, the Frequency of purchase and M ount (average basket if you prefer).


This customer database therefore makes it possible, if it is properly informed and used, to increase turnover.through specific sales actions to build loyalty thanks to better segmentation of your personas  and more precise scoring (a VF rating).

Your real difference is the customer experience

A weak link in companies (and this is an understatement ), a quality customer experience is nevertheless a guaranteed competitive advantage, as we recalled on our return from Boston . In this article, discover the levers to improve it . The stakes around the customer experience are indeed colossal: according to PWC , 86% of consumers are ready to pay more if the customer experience is there.

Today (like yesterday for that matter) , building loyalty is always less expensive than prospecting . Unfortunately, every year, companies lose an average of 10% of their customers, or 50% every 5 years , according to a study by the Harvard Business Review .

In more than 68% of cases (according to Sage ), it is because there is no communication with the customer, while powerful automation  and CRM tools to keep in touch exist today. 

In our opinion, the customer experience is undoubtedly the competitive advantage of tomorrow (today too)

Turn your website into a prospecting machine .

... And let your sellers SELL, that is to say convert the leads generated by your site and social networks (see social selling below). Have you ever wondered what your website  was for that cost you "a blind"?

Even with a point of sale (B2C) network or a smaller sales force than your competitors (B2B), an effective website   is your real business broker , and best prospecting machine (including Sundays, days). holidays, vacations and when you sleep) and a clear competitive advantage in the medium term.

Armed to generate business   and positioned at the top of all Internet users' requests, it must be a contributor to your turnover and its growth . Today's B2C and B2B consumers look for information long before contacting a salesperson . In 61% of cases, the purchase is decided online (Hubspot). 

If you really want to increase your turnover, this step is therefore essential. And, with rare exceptions, you won't be able to override it . Yes, even if in your "sector it is different, it is specific, etc." If your website isn't earning anything, your competitor's website is likely to generate results and rank in the top results of Google searches. 

Finally, if your company has any desire for export, which is a sure lever for increasing turnover, this point is not only strategic but also capital.

If you want to know more about prospecting in the digital age, you can consult our complete guide with all our methods on commercial prospecting .


Focus on your ideal customer: the persona

In order not to disperse your prospecting efforts, identifying a precise target remains the basis of the profession. Focus on the persona  ( a sample of which you can download below ) - your ideal customer in marketing jargon.

By aiming at a target that is too broad (example: “targeting the 50-year-old CSP +”), you risk:

  • Hit a tiny fraction of this target before you've already squandered your entire marketing budget

  • Prospecting and wasting time with customers who are interesting to you, but who will never be interested in your offer.


 

Stay true to your values

A number of businesses, to meet deadlines (and charges), have to go against their values and agree to do business with most of the clients who call on them.

Even when the know-how is not there. However, you will agree, one cannot improvise "King of couscous" in a restaurant of Italian gastronomy, even if the chef is gifted.

The result ?

A muddled offer, affected profitability, a loss of your customers and your values ​​and therefore the obligation to be constantly forced to run after new customers.

Stay focused on your vision , revise your business model if necessary  and put aside unprofitable customers, unnecessary quotes (the famous “cost me” before knowing what to cost ), calls for tenders poorly put together and time-consuming pre-sales, so you can focus on the best customers - your “ideal customer”.


Optimize your marketing and make it modern

Do you not expect to achieve your marketing goals this year, and you are wondering about the relevance of your strategy? You are right.

In the book Predictable Revenue , Aaron Ross, former director of development for Salesforce (a "small" CRM editor) describes three complementary paths to find customers and increase your turnover. Here they are : 

6.1. Lances (spears in original version):

This is what you know best, namely, traditional communication techniques, also called “outbound marketing” , which consist in pushing your “exceptional” offer towards the customer (billboards, radio, TV, press, street, google ads, display…). This PUSH method is more and more contested because it is less and less Roiste (which therefore pays less). In addition, the trend shows that consumers no longer want intrusive and unsolicited advertising . Proof of this are the Stop ads, ad blockers and company ...

In the case of spears, of all the "interesting" customers you target, you "pray" that some will be interested. You are therefore hiring from the audience of potentially interesting people , such as "CSP + 50 years in Reunion Island", but not necessarily interested in your offer.  This is the classic move of the 4 * 3 display (30 K € gross the 300 sides all the same on the island): we sell a number of passing vehicles or opportunities to be seen. On the other hand of the 10,000 cars which pass in front of the poster, not one has the budget or the envy of a BMW. Pity. You will be retorted, to reassure you, that you have acquired notoriety which itself generates preference and therefore future purchase ....

If you have chosen sales promotion to boost your turnover, know that it is only tactical (therefore short-term) and does not however solve your strategic issues in the medium to long term. In addition, it has a certain cost and erodes your margins, and therefore your profitability. 

6.2. The nets (net in original version)  :

Or how to attract in your net, thanks to the inbound marketing , the customers which interest you. In inbound, we create a database of people interested in the problem that the company's offer could solve. To achieve this, you need to produce informative and highly qualitative content on your blog  and via guides at every stage of the sales cycle.

With this type of strategy, know that you no longer rent an audience, you become the owner . And unlike traditional advertising methods, the cost is not linked to the audience : whether you interest 50, 500 or 15,000 people, the cost of producing the content is the same .


In addition, this growth strategy  allows you to:

  • shorten your sales cycles

  • drastically reduce your customer acquisition cost

  • get to know your customers better in order to retain them , by  communicating directly and in a personalized way

  • reduce your traditional investments in advertising in favor of acquiring more profitable leads

  • truster the first natural places of search engines including Google (77% of clicks are in the first 3 results)

  • finely qualify your audience (in the CRM)

  • increase your notoriety and expertise

  • generate leads automatically using marketing automation tools

  • make yourself known outside your catchment area (export)

Without a doubt, it gives you a competitive advantage if we also consider the savings on costly "cold" prospecting (+ 62%) and less efficiency ( 3 x times fewer leads or hot prospects ) .

6.3. The seeds (seeds in original version)  :

The word-of-mouth or recommendation (or score NPS Net Promoter Score) is a formidable weapon . Ask your best customers (those who rate you 9 or 10 on a scale of 1 to 10) to recommend you. They are your best salespeople .


If you are interested in the recommendation, you should take a look at this page.

Finally, deploy social selling and take advantage of social networks

Might as well get straight to the point for this last "secret".

Nowadays, training your teams (all of them and not just sales and marketing) in social selling remains a CAPITAL issue , even more so in a B2B context where on average 6.8 people (according to Gartner) are involved in the sales process.  

Social selling, which uses techniques similar to inbound marketing, makes it possible, with a different approach, to find new customers . Social networks (we explain here  simply what they are used for) should indeed allow you to carry your messages and generate leads (requests such as RV, incoming call, request for quote, information, etc.).

However, consumers and B2B buyers have taken root on this new media : 4.55 billion users of social networks around the world, including more than 600 million on Linkedin   ! 

All this on the condition of "aligning" the sales and marketing teams. We then speak of Smartketing , the teams working on the same objectives defined together.


increase turnover meaning,how to turn turnover into profit,increase revenue streams,how to increase turnover in restaurant,increasing productivity,unique ways to increase sales,turnover vs margin,increase revenue meaning


أحدث أقدم
Post it ART Creators