Remarkable ways companies can ensure revenue growth this year

We’re delighted to bring you a guest article from someone at the top of their game in helping businesses grow profitably.  Jane Bromley works with businesses to bring about massive sales growth and we’ve persuaded her to share the secret process she uses to help companies succeed. 

Here’s how she does it…

Over the past 20 years I have worked with dozens of companies across the UK, Europe and USA. Almost every single one of them had omitted to make some essential decisions and it seriously limited their growth.

The thing to bear in mind is that although these decisions make all the difference to Sales and Marketing results, those departments cannot make them on their own.

So, take a step back and learn 3 ways to guarantee the success of your Sales Force

1.    Limit Your Target Market

Too often companies have no clearly defined, target market focus and it kills their success. They just have never spent the time to work out what type of customers they can really make happy, let alone which ones are best for the business.

Does your company’s marketing budget runs into the tens of millions? If not, unless you profile your best customers and then focus on winning more customers like them, you will set your business up for failure. The more precise and contained your target market is, the more successful your company will be. A good target market definition needs to be precise, match the profile of your happiest clients AND give your company access to a large enough market to meet your financial targets.

By the way “SMEs” account for over 80% of the total business market so that is not a target market.

So examples could be:

  • Companies with 200 – 400 employees who have no actual computer system to manage their Human Resources today across the whole UK
  • Financial Advisers firms with between 3 and 6 people in the company across the California
  • English speaking companies with 5- 30 employees across the Thames Valley, who wish to automate their book keeping/ reduce monthly costs over time.

Case Study:

We worked with an international, €60m professional services organisation. Revenue had not grown in 5 years. Worse still, because they had staff in many countries, in order for the business to work effectively, they needed to win multi million, multi-year deals across several countries. Despite this they had not defined the target markets they would focus on. We guided them to focus on 3 focused target markets, 2 where they already had good traction and one more. Within 5 months they had won a €6m deal. From then on they have been growing in double digits, winning the sort of deals that assure excellent profits!

2.    Make your value compelling

The number of companies which expect their sales teams to hit targets without ensuring the product/ service really solves a customer problem/ pain, just blows my mind. Why would businesses waste so much money on an expensive sales team without doing that? It is crazy.

Some companies have worked out how to communicate a compelling value proposition and are accessing the great margins and revenue growth that follows. You can too. You simply need a value proposition that attracts customers in droves.

Just so we are clear, a value proposition is not a marketing claim on some brochure.
A value proposition is how you solve a big problem for a specific group of target customers – which no one else is solving.

Don’t copy others; it kills profits!  In the eyes of their customers, most suppliers in most industries look identical.  Consider banks. If you took the logos away, could you tell them apart? Now consider companies your industry…

Can your prospective customers easily see that your business solves their problems?

Here’s how can you tell for sure.  If your customers are spreading the word about how good you are, if sales are growing faster than your competitors’, if margins are good and customer loyalty is strong then your business is the “Honeypot” it should be. However, if your sales are flat or your margins are tightening, then your products or services are actually just commodities. It’s time to attract a lot more customers.

Companies are growing quickly, year after year – because they are Honeypots

“Honeypots” are companies that are growing at 15% or more, year after year, whatever the economy is doing. The value each and every one provides their customers beams out in the market.

An example is Slingshot SEO. They were a creative agency but realised they were in a fog. So they worked out where they excelled and decided to focus on search engine optimisation (SEO). The leadership team did not stop there. They chose to make each and every one of their customers successful, to the point where they could dominate their industry. Then they worked out exactly what they needed to do to make that happen. They created software to ensure their customers’ success and hired the very best SEO people in the world. In fact they pulled out all the stops. Now that is a powerful value proposition. Slingshot SEO grew at 3,597% over three years….. Wow!

Actions to turn your business into a Honeypot

  1. Find your customers’ pain.
    Spend time with them. Get under their skin. Ask them where they or their business is headed and what gets in their way. Persevere until you know exactly what wakes them up in the middle of the night in a cold sweat.
    Note:  Do not limit your thinking to the pain that is relevant to your business or you will miss the massive value of this step.
  2. Stand in their shoes.
    Putting yourself in their shoes, ask yourself how your business can help to resolve, or greatly ease, their pain. For best results forget your existing offering and start from a blank canvas. Define, in very concrete terms, what value you could offer that would make all the difference to them. Make it so specific and tangible that you bring it to life.
  3. Test it.
    Select a few trustworthy potential customers and see how they react to the value proposition you have now created. If they score less than 10/10, ask them to describe what worries them, ensure it really resonates and ask what would close the gap.
  4. Not marketing, delivery.
    Before you make any marketing claims ensure your business can deliver this value proposition each and every time. It is the consistent delivery that will get customers flocking to you in droves, telling their friends/ colleagues and willing to pay good margins.
  5. Spread the word.
    Once you delivering that 10/10 every single time, spread the word. Shout it from the rooftops. Do whatever it takes to ensure that your target customers understand exactly what you offer – where the honey is. Describe their pain so they know how well you understand them. Just remember – ensure that reality always exceeds their expectation.

Outstanding return on investment

The 5 steps above take time and effort. Having said that, when we have worked with clients we have cracked the hard part in one or two days. It is well worth the effort because the return on investment is always well over 20x. Look forward to a major increase in sales revenue!

Case Study

A Fintech client works with Accountants and Financial Directors. Following our advice they uncovered what worried their customers the most. They discovered their clients’ largest issue was the amount of time it takes to prepare information for and service their customers.

They realised that this problem dramatically limited the numbers of clients an adviser could look after, capping earnings considerably. As a result our client has developed a software system to significantly reduce the time required preparing information for and servicing their customers. Not surprisingly, by adding so much value, sales are increasing fast – AND they have the opportunity to totally transform their market!

3.    Quantify the value you provide

You can now hopefully see that your customers’ pain is a big issue for them. So having created a solution that solves that pain, then take time to quantify it.  Be really specific and give examples of other, similar clients. Then teach your sales team how to  make the benefit tangible and real to your clients.

For instance, we were recently working with a software company. Their system solves some major problems faced in the advertising world – saving their customers literally days of work. So they can go into their prospects saying “Our system will cost you x but, from what you have told us, you will save y”. As the value is so good – the saving is five times greater than the cost – there is actually no longer a decision for the client to make. He cannot lose.

And the client mentioned above in the Fintech market went on to work out how much time the accountants/ Financial Directors save. They also know the amount they tend to make each year. With those 2 figures each prospect can see that the cost of the product is only 10% of the savings they will make. Sales are amazingly easy now!

How will you begin?

You can start right now with the information provided.  This is the full method to growing revenue and profit in your business.

But we understand that these are not easy discussions, and there are many people in the business to get on side.  As you can tell, we’ve been through the process many times with many different types of businesses and can help you through it too, if you wish.

Strategenic works with CEOs, Boards and business leaders across the UK, Europe and USA, We specialise in speeding up growth, year after year.  All our clients have enjoyed excellent results. They have all cleared the barriers to sales success.

A few client examples:

  • An international computer hardware business increased revenue by £29m under a year
  • A global software firm started to enjoy far greater sales through their main channels and improved customer satisfaction improved the bottom line
  • A technology company increases sales by 400% in under 3 years
  • A Fintech business where sales had stalled, started to work as a team and developed a value proposition with the power to totally transform their industry

What clients say:

“Thank you for helping us to develop strategies to improve sales performance. Your expert support proved very beneficial in helping us to grow the business.”
Nigel Norman, MD, Sarsen Technology

“When I look back at how hard we have worked, what we have achieved and where we are headed, I realise working with you on your growth strategy was one of my good decisions.” Mark Oliver, MD, Raytheon Professional Services.

“Jane Bromley of Strategenic Ltd speeds up business growth through her sound strategic planning ability. Recommended.” Graeme Hogg, Director Business Strategy HP

Are you ready to talk?

If you’re a leader looking for results like the ones Jane describes here, Jane meets a few senior Executives each month to help them define exactly what they wish to achieve and to investigate how they can make faster progress.

Just call or email Jane to see if she has any slots left this month:

Tel:        +44 (0)207 0604 006
Email:    enquiries@strategenic.co.uk
http://strategicplanningforgrowth.co.uk/