June 12

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The economy is growing, are you? Why not?

 

UK GDP Growth 1990 to 2014
UK GDP Growth 1990 to 2014

5 sales tactics to take advantage of economy

I was fortunate to have visited the Wakefield Business Conference last week and was very uplifted by the positive attitude of all the delegates and speakers. The economic statistics from ONS published a 0.8% GDP growth overall for Q1 2014 UK an increase on 2013 (see picture). The CBI have also published recently that the Yorkshire & Humber economy is showing strength mainly because of its diversity across many business sectors. The area is boosted by the amazing fact that it is the largest food production region in the UK and has the fastest growing digital sector outside London.

However, even with this news it’s still not been that great lately for many companies as there is yet the bad taste of the recent reduced revenue and profits. I was speaking to a company just yesterday about the fact that things seemed to be on the up but still a slight air of caution and gloom. There is a real pressure to improve turnover in many companies. This should be achievable and will be helped greatly by changing the sales tactics from those of reducing costs & pragmatism to tactics more suited to the new economy and the giant changes in marketing activities through digital & social media.

The purpose of this blog is just to highlight quickly some points that hopefully will help companies refocus and put themselves in a better position to grow their sales this year.

  1. Take full advantage of the increased number of leads – As the economy recovers you should be getting more leads. Make sure you have a really good sales strategy to take advantage of this and follow all of them up well and effectively, don’t cherry pick because you’re busy.. you never know.
  1. Go back and follow up “not at the moment” leads – You will have a system in place that has captured all the people you talked to during the lean times where perhaps potential clients weren’t in a financial position to commit. Give them a call and see if they are ready now.
  1. Change the company mindset – Now is a great time to think positive and motivate staff. Companies that are growing at the moment are focusing on growth with a very positive and constructive attitude and are passing it on to all the staff and clients.
  1. Increase sales targets – Salespeople aren’t stupid and they will not be offended if you increase their sales targets. In any case, you may have reduced their % growth in the lean times. With the right support, sales plan, incentives and ability to deliver to the clients, this a great opportunity for your team to benefit from increased individual and company targets.
  1. Don’t lose your key performers! – With the job market picking up, your star performers might be attracting interest from your competition and they will be more likely to leave. Make sure you listen to what they want, it may not be financial but incentives, training, motivation and support are the main areas that if done correctly should ensure loyalty to your company.

Tags

growing sales, improving sales, key account management, manufacturing, technical sales training, understanding your business, Yorkshire


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