Are your salespeople selling based on price or value?
How can sales deliver a price increase that sticks?
How do we identify and fix profit-leaking accounts?
Are your salespeople leaving money on the table because they lack negotiation and closing skills?
If you want to improve your profits, we suggest following the no smoke and mirrors process by first assessing the current state. We suggest a net profit by customer analysis. In this analysis we review your revenue, profit, and cost of sale. This produces a report that shares your net profit by customer analysis curve, sometimes referred to as your Whale curve
As you see in the image above 20% of your customers deliver over 200% of your profits, 60% of your customers are break even after we include the cost of sales and 20% are profit leaking accounts. Each time you sell a profit leaking customer you lose money.
The good news is there are five ways to improve profit leaking accounts and when we identify profit leaking customers and train your salespeople how to improve them you will typically experience a profit increase of 3% on average in the next 90 days.
In addition to developing customer specific plans, we provide sales skills training based on how your team scored in the sales effectiveness and improvement analysis report.
To improve profitability, we often focus on the below sales skills and beliefs.
How to deliver a price increase that sticks
Value based selling.
Negotiation Skills
Build and present a business case.
Closing skills
Handling objections
Developing your value proposition
Business acumen
Upselling
Cross Selling
How to win a greater share of the customers wallet
Comfort discussing money
If your team would like to discuss how to improve your profits leveraging transaction data and sales skills let’s schedule a call.
Contact Mark:
Mark@NoSmokeAndMirrors.com
1-330-413-8552
