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Winning in Turbulence

How to Turbo Charge Sales in Turbulent Times

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Management Seriesan inspiration from management article

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Why Business profit margin reducing, Shrinking?

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When companies are hit with declining sales and shrinking margins, the options can start to look bleak. 1. Attacking one challenge2. By raising prices or lowering prices (for example--can make the other worse).3. Go-to-market approaches by using data.4. Disciplined analysis 5. Systematic selling tools to focus the selling efforts and retain more of the customers.

Turbulence situations

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The key is a numbers-driven approach to boosting the effectiveness of your sales organization. The methodology is summed up in a framework we call TOP Sales. There are four levers for turbo charging Sales:-

Optimized tools, procedures

Sales resource deployment

Performance management

Targeted offerings Sales force productivity

How to handle (a short term solution)

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Short term solutions (Turbo charging Sales)

• Targeted offerings.

You know who your best customers have been. Which customers will still be strong and keep buying in a down market? And which prospects should you go after now? Once you identify these high potential customers you can create a "heat map" of the market as a guide for your sales efforts. A few months ago, a broadcasting company refocused its sales team on market segments such as specialty retailers, who badly needed advertising to counter declining consumer spending. The result: after two months, sales in the broadcaster's two test regions were up 90 percent and 450 percent.

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• Optimized tools, procedures.

Sales cycles always lengthen in a downturn. But close, disciplined pipeline management attuned to the heat map can improve win rates. Tools such as "digital cockpits" can help. But what matters most are rigorous management processes and disciplines: systematic channeling of leads to reps; routine, detailed account and pipeline discussions; and meticulous tracking of customers' readiness to purchase under current cash-and-credit positions.

Short term solutions (Turbo charging Sales)

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• Performance management.

Territories and quotas that made sense last year may not be realistic in today's conditions. The network equipment company, for example, had been pursuing fifteen different industry segments, but its heat map showed that five accounted for most of its revenue and profits. So it redesigned territories and reset quotas accordingly.

Short term solutions (Turbo charging Sales)

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• Sales resource deployment.

Measure the time reps spend in front of customers; if it's less than it should be, consider channeling some functions to support staff or rearranging territories to minimize travel. A downturn also offers opportunities to beef up less-expensive sales channels, such as telesales or sales through partners. Aggreko North America, the equipment rental company, directs inquiries about commodity rentals to the Internet or handles them through telesales, while inquiries about large consultative projects are routed to specialized sales reps.

Short term solutions (Turbo charging Sales)

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Winning in Turbulence

I quote a simple formula in turbulence time from Stephen R Covey's book “ First thing First”,

See something Do something = Get something

Thank you,amirsaiftaz@gmal.com