NEW START // ISSUE 6 // 51 SALE-ING
But while it’s clear that the economic downturn is bad news for business, many firms are making the best of a bad situation and turning it to their advantage.
Mark Gillanders at Sales Evolution, one of Scotland’s leading providers of sales and marketing experts, says that for businesses to get the best out of the recession, they need to simultaneously build and protect revenues.
He said: ‘It’s not an easy task as taking on new clients and protecting income from existing clients requires differing strategies and skills but companies can no longer rely on a ‘bit of luck’ as a key factor in hitting revenue targets. They need to rely on sound strategy, effective sales management, and an unwavering focus on results.
‘Companies in an opportunity-scarce environment need to build a strategy to focus on key strengths and work to take market share if they want to grow. They need to meet the competition head on.’
Gillanders believes that many firms need to sharpen up their sales skills, business development processes and their strategic account management if they want to get the best return from their resource.
‘Having clear strategies to protect existing client revenues as well as a target list, incorporating a number of competitors’ clients, will help to boost sales - but all this will be useless without a strictly adhered to calling plan.
‘In this economic environment, knowledge is power. Companies need to begin to think about their current client base and competitors on a ‘strategic’ level. Think about your business - do you have enough knowledge of both to ensure high probability of your business’ success?’
THROUGH THE RECESSION
SCOTLAND’S ECONOMIC PERFORMANCE IS ‘CLEARLY WEAKENING’ AMID THE FINANCIAL CRISIS - THAT’S THE CLAIM OF THE SCOTTISH GOVERNMENT’S CHIEF ECONOMIC ADVISER DR ANDREW GOUDIE.
With companies under pressure to spend less, Gillanders says it is crucial to fully understand clients’ needs. Knowing as much about them as possible, including their markets, strategy and the future shape of their business, will help develop the relationship further.
He adds: ‘In a recession, there are too few opportunities to allow you to gain revenue and/or market space without treading on your competitors’ toes. However, the competitive environment could now be warming up with many companies re- assessing all supplier and adviser relationships in the current market. That presents key opportunities for those companies geared up to grab them.
‘Now is the time to look for trigger events that will make it easier to build a relationship with your competitors’ clients. Look out for staff changes, re- organisation or clients losses from competitors – these can all signal opportunities for your business.
‘If all else fails, know when to stop investing your time and move on.
‘Your competitors will be calling on your best clients at the moment - stomp on their toes before they step on yours.’
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68