Are You Producing Customers?
Are You Producing Customers?
Successful businesses focus on generating new customers in multiple markets while servicing current customers constantly strengthening the value being offered by their product and service. This enables a business to add additional product offerings to customers and increase the lifetime value of each customer to their business.
Where do your new customers actually come from? As an owner entrepreneur or business manager, you should have a good handle on how a prospect becomes a customer within your organization. What type of sales team do you have? Do they have the correct incentive plan motivating them to convert prospects to customers and generate sales? Are they properly trained and managed? Can you use Rep’s to plug some of the holes in your sales territories? Do you know where the holes are? Does your product or service have a good presence at area trade shows? Is your company getting any business from trade shows? How many new customers do you generate each month? Again, where did they come from? What are the average sales per customer?
As the owner entrepreneur or business manager, you should have the answers to these questions. Cash is King, but without sales, there is no cash. Every business should be generating new customers and trying to increase the average sales per customer.