Wednesday, January 4, 2017

Increasing Sales in 2017

Increasing Sales in 2017
Most of us are worried what is going to happen in 2017. I am also in the same group.
I have analyses the sales and marketing data in 2016 and this is my suggestion:
1. The conversion rate.
Current conversion rate is about 20%. Which means that you get 2 orders for every 10  sales meeting. In order to increase sales we can increase the conversion rate.

You will ask, how to increase conversion rate?
Increase the leads quality.

How to increase the leads quality?
Do your pre meeting calls or custmer contact.
Ask questions to qualify the customer.
Only customer that qualifies we will have meeting with.

2. Increase the sales meeting.
If you have 20% ssuccess,
then for every 20 sales meeting you will get 4 orders.
If we increase sales meeting to 30,
then the orders will go up to 6, assuming the rate is 20%.
Of course if we implemet the quaifying leads strategy,
 then we may be able to increase the conversion to 30%, and sales will shoot up to 9,
which is much higher than 4 last year.

You will ask, how to increase sales meeting?   
Now you are spending a lot of time because you drive to see customers.
So maximum meeting is 2 only per day.
Cost will also be high, travel, petrol, toll, parking etc.

If we analyze the customer behavior in the early majority segment, you will see that they are looking for company that is trusted. They want to have low risk. They want company that is leading in the area. There is a big chance that the manager or CEO wants to visit the company. Really confirm that the cmpany is realiable. Can support them. have enough team to support them. Will not fail them.
Chances are the CEO will want to visit our company.See for himself.
Ths is good for us.
More sales meeting, more sales.

3. Increase leads.
if we increse leads, then we can do the qualifying the leads bette.
If you have only one leads, you are introuble becuse you cannot be choosy.
if you have a lot of leads, then you can do the leads qualification exercise.

Your target now is the increase your leads from 150  in 2016 to 225 per month in 2017.
More leads. More chance to work on leads quality.

More leads > more leads quality > more sales meeting > more conversion.

So as a conclusion,
we are doing three things to increase the revenue:
 1. Increase sales meeting from 20 to 30 per month.
2. Increase leads quality by pre sales leads quality filtering.
3. Increase leads so that leads quality processing can be successfully done.


No comments: