Selling products and services in markets that are stagnating or highly influenced by seasonal cycles may lead us to believe that there are no more growth opportunities. However, it is essential to "think outside the box" to allow expansion into new markets that you had not initially considered, especially if those in which you are established are saturated.
Here are some tips to help you identify and succeed in new markets.
Is it easier to change a company's sales culture when sales are going well, or on the contrary, when they are going badly? Actually, this is not the right question, because working on the sales culture will never be easy, whatever the conditions of the company and the market.
The real question to ask is whether there is a more appropriate time to make a sales transformation, so that the company can gain the maximum benefit from it, both quantitatively and qualitatively.
Let’s begin with an example. Suppose you are selling construction materials for a specific territory, which we will call Canada, in which you have a lot of success. Now that you are successful and you have made a market analysis, you believe you could expand your sales territory to the United States.
From there, you must consider the different elements you will need to approach, such as the differences of factors between the United States and Canada, and how you are going to approach those elements. That is what it looks like to build your strategy in a very specific sliver.
But, from now, I’ll look at the subject in a much more basic perspective.
In general, companies are often looking for growth flows. Indeed, most are looking to grow faster by generating more revenue and profit.
The problem I often encounter when I work with business leaders is that they feel blocked and limited in their growth. They claim that the market is saturated and that they no longer know where to seek growth. However, when I ask them what their market shares are, many of them have no idea. That's why I recommend conducting a market study to better understand your situation and identify growth opportunities. But this study will only tell you where you can look for growth. However, there is no guarantee that your sales force will know what to do and how to bring you the sales opportunities identified in the study.
So, what can you do about it?
Companies wishing to establish a recurring revenue business model are looking to ensure the stability and profitability of their organization.
However, before doing so, it is important to be aware of the impact that this realignment will have internally, particularly on the structure of the sales team and the compensation plan. It is also necessary to acquire the right technology to support such a reorientation.
A few years ago, Pete Caputa, VP of Sales for HubSpot posted a list of the 3 best sales books that new representatives should read. In this short list figure Baseline Selling by Dave Kurlan which is the consultative sales methodology Prima Resource uses for its clients.
You may be wondering what baseball has to do with sales! The purpose of the article is to answer this question by explaining the fundamentals of the methodology.
MONTREAL, March 18, 2019 – Prima Resource inc., a Canadian leader in sales excellence, announced today that Baseline Selling, a Consultative Selling Program, has been accredited by the Canadian Professional Sales Association (CPSA). Canadian sales professionals are now able to earn their Certified Sales Associate (CSA) designation in a fresh, memorable way.
The Baseline Selling program teaches essential sales skills necessary to close a sale in any situation, using what learners already know about the game of baseball. Modern salespeople can relate to and use the learning right away.
The secret to a successful business is in the details. Sometimes perceived as trivial, these details are in fact very specific and closely tied to strong will and singularity.
Today, decision makers manage their organizations by focusing on increasing sales and reducing expenses independently from one another!
However, increasing sales and reducing expenses are simply the result of good management decisions and not objectives in and of themselves. They are simply the outcome of actions that end in higher or lower profit. Ultimately, the combined actions and initiatives of decision makers result in successfully meeting your profit objectives.
Is trying to find THE strategy to grow your company's sales overwhelming? Well, stop it! There is a secret and straightforward strategy to improve and increase your sales: use your sales force.
Here are 7 elements to optimize before considering changing your growth strategy.
Business leaders need to contend with countless situations and difficulties regarding their sales force. These problems are often more complicated than they seem and although there are challenges with every department, they are usually more apparent with sales departments, because the privileged position they often
The reasons are numerous and, they tend to add up. Moreover, in addition to the “traditional” sales problems that hinder performance, there is also the need to adapt to today’s ever-changing sales environment.