Growth Strategy: How to Expand into New Geographical Markets
There are a lot of ways to expand your sales: increase business with current clients, find new clients like the ones you have, or add new products or services. Sometimes, though, expanding into new geographical markets is the best way to create sustainable revenue growth. This comes with challenges of course, namely capturing market share from established competitors. Research the New Competition When considering expanding into new geographical areas, doing your research on the competition first will give you some valuable clues on how to penetrate the market. Is their website and social media presence updated and impactful? How do they position their offering? Cost, features, service? How do they go to market? How do they support their local communities? What kind of reviews do they get from customers? Gathering…
Want to Grow Your Business? Do Things Differently.
As a growing business, it’s normal to feel stuck sometimes. When you’ve hit a plateau or when the things that have been working aren’t getting the same results, it’s time to make some changes. As your business grows, it will progress through these classic growth stages: Stage 1 – Achieving Viability (Entrepreneurial) Stage 2 – Accelerating Growth (Emerging Growth) Stage 3 – Scaling (Sustainable Growth) Stage 4 – Maturity So how do you grow your business and take it to the next level? By doing things differently. It’s important to understand what you need to do differently at each stage to keep that momentum going – and make the changes that propel you into the next stage. Four Stages of Business Growth Many businesses “experience common problems arising at similar…
CRMs – Friend or Foe?
Most businesses use some sort of customer data system to capture contact information and make notes to keep track of conversations – using anything from a spreadsheet to a full-on Customer Relationship Management (CRM) system. However, not all systems are considered valuable tools by the team. Getting the Most from Your CRM The key to a CRM being an effective sales organization and management tool is to make sure: You choose one that is built for the functionality you need.It’s easy to use.It’s easy to update.It provides the ability to clearly display the sales pipeline And don’t forget to make sure it’s accessible from laptops, tablets, and phones! Salesforce Is Not the Only Game in Town Here’s a newsflash – Salesforce is not a good choice for most small and…
Are Your Salespeople Highly Effective?
An important part of developing a high-performing sales team is ensuring the group comprises the best-suited individuals who are or have the potential to be high performers. These salespeople have demonstrated success in their ability to generate new business by identifying prospects who are good potential clients and effectively moving them through the sales process. In today’s business environment, salespeople must also be able to represent the company professionally and prospect competently in person, via phone, and using video conferencing. Salespeople need to be well organized, transparent, and results-focused with the ability to earn the confidence of not only new contacts and prospects but also of the company’s internal stakeholders. Why You Need High-Performing Salespeople There is a clear correlation between the quality of your sales team and the success…