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MYOB Survey reports sales revenues dropped

Monday, December 05, 2011 Back

A recent MYOB survey found that 40% of NSW businesses and 50% of QLD businesses with less than 200 staff reported their sales revenues dropped in 2011.

Here are 3 strategies to help avoid this happening to you in 2012

1. Don’t write off January!

Companies that ignore January because “everyone is on holiday” are writing off more than 8% of their year – and probably turning their backs on 8% or more in potential sales revenues.  By the time they get back to business it’s the middle of February, so the impact on revenues is probably more like 12%.  Wouldn’t that make a difference to their business?

While it’s true that some business people are on holiday in January, many are not.  For those business people who are in the office, it’s often a relatively quiet time and they are thinking about the year ahead.  This makes it an ideal time to be speaking to and meeting with new sales prospects.
Our Business Development Agents generate 39% more appointments per hour worked for our clients in January and those who make the most of this period report that the fast start to the year has made a big difference to their financial performance for the year.

The same thing applies to writing off December: it’s another good time to be speaking with business decision makers – some will meet prior to the Xmas break, the others will meet you in early January, once they are back in the office.

2. Maintain a consistent supply of sales leads for your sales team

When markets are tough, relying on inbound enquiries and on servicing existing clients is not going to grow revenue, so make sure that you have an outbound strategy in place too.  A good lead generation campaign will deliver a consistent supply of qualified leads to your sales team.
A recent survey of 35 clients found that we had introduced them to over $64 million in new business opportunities and that the average ROI from their lead generation campaign was 1,289%.

Lead generation is a proactive strategy that will keep you well ahead of your competitors and drive dollars to your bottom line.

3. Nurture all sales leads – not just the high priority ones

It sounds obvious that all sales prospects should be continually followed up until they buy or give a definitive no, but most sales people only have the time to look after their high priority or high value leads.  This means that longer term leads, or those that have a lower value get pushed to the bottom of the pile and often aren’t followed up diligently, or even at all.

If this applies to your sales team, consider outsourcing the follow up of lower priority/longer term leads.  We run lead nurturing campaigns where all leads are followed up until the prospect is ready to take the next step, at which time the lead is passed back to your sales team for actioning.
Your sales team stay focused on their hot prospects, while all other leads are being professionally and diligently nurtured until they are ready to buy.

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