Warning. You should just scroll down to the last paragraph, watch the video, and you will know the point of this post! But for those of you that love to read here’s what we’ve identified as reasons your company is not growing as fast as you want!
There are many reasons why small companies don’t grow at the pace they expect. Most times these reasons are not because of a sub-standard product but because the company doesn’t sale or market itself effectively. This doesn’t require a huge marketing budget but a consistency and commitment to developing a sales a marketing department that is aligned and focused on the goals of the company.
We have identified the following sales challenges for the small business and startup and working with BSHG will help you overcome and generate more revenue.
Not Understanding Your Customer: Many startups start companies without a marketing plan and because of this operate without a real understanding of what the customers wants. Yes, there are generalities for each customer, improved sales, decreased costs, and increased productivity are a few but taking the time to understand the specific need of the customers is crucial to growing a business.
Talking Features Not Benefits: When you have a meeting with a client the more time you take understand his challenges and being able to talk about the features of of your product benefits his company the nearer the business is to closing.
Go Where Your Customers Are: It is so important to network especially for the small business. Networking serves as the first place to get feedback on your sales pitch, the potential of your product and to start developing long-term relationships.
Not Following Up Again, Again and Again: If it takes a customer 6 times to make a yes or no decision about whether they want to do business with you then the first no is just a starting point. The small business needs to understand that the relationship with a customer doesn’t end just because they are not ready to buy today but consider it a nurturing relationship. Stay in touch and always deliver on the big and small promises.
No Process in Place: The advantage that the small business and startup has today is the knowledge to create a sales and marketing process that can grow with a company. For those that want to attract investors tracking and sharing track basic metrics for their sales funnel; calls/emails, connections to decision makers, qualified leads, closed deals/deal value and time to close can make the difference between investment or not.
Don’t Ask and You Won’t Get: Always ask for the next step in your sales process or in the words of Blake from Glengarry Ross, “ A-B-C. A-Always, B-Be, C-Closing. Always be closing, always be closing”.
C1st understands that Glengarry Ross is dramatic view of sales but we have to respect the commitment to sales. Enjoy the video. We hope its motivational but if your ears are sensitive do not play it and read the quotes instead.
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