At SBM & Co we can advise business owners in the London area on many aspects of running and growing a business. Here are some key sales and marketing concepts...
No matter what line of business you are in, marketing is essential. And whether you have a marketing department or the marketing department is you, putting these pointers into practice should greatly improve your performance.
- Make sure your products or services are distinguishable from your competitors'
- Monitor your competitors' marketing activities, and change your own as appropriate
- Have a marketing plan - and follow it!
- Aim to provide a regular stream of new customers
- Respond quickly to customer complaints, investigate the causes and fix the problems
- When you lose a customer, contact them and find out why
- Uncover customers' needs. Find out what they really want from your business
- Keep advertising expenditure within industry norms. Over-advertising smacks of desperation, under-advertise and no-one knows who you are
- Search for new markets for your products or services
- Keep your existing customers aware of all you can offer
- Actively look at new products or services
- Keep your sales forecasts and statistics up to date and distribute them to appropriate employees
- Make sure that staff who come into contact with your customers or clients have high morale and present a positive image of your company and its products and services
- Use your remuneration structure to motivate and reward sales people
- Invest in sales-focussed training for your non-marketers (show them how they can have an impact on sales)
- Evaluate the performance of your sales team and provide training where needed
If you are in the London area and are looking for support and advice from a team of professional accountants and business advisers, contact SBM & Co.