Your business has successfully grown year over year for (you fill in the blank) years.
You wanted to invest more in digital marketing, by improving your website, sales skills training and targeting new markets …but you were busy.
The impact of Covid-19 was felt by many businesses in March and April of 2020.
What did you experience?
Think about all the changes and new processes and procedures. How have your buyers adapted to the constraints of Covid-19?
Prior to 2020 approximately 45% of all sales occurred virtually not face-to-face. Fast forward to December of 2020 and 96% of sales occurred virtually.
Prior to Covid-19 as much as 76% of the buying process was over before buyers spoke with a salesperson.
If you were to launch your business today what would it look like?
Chances are you would use the same process someone used when they first launched your business.
- Clearly understand your current market, buyers and how buyers make decisions
- Look for urgent common unresolved market problems
- Design products and solutions to solve your buyers problems
- Create processes, systems, and procedures to help people with those problems find you
- Create processes, systems, and procedures to help your team deliver the greatest return on customer experience
- Constantly listen to your markets, buyers and targeted new buyers sensing any shifts in how they buy, the criteria they use to buy and adapt quickly
- Measure what matters – you have identified what is important to your customers and the behaviors your team must execute to win business and meet your shareholder expectations
Do you need to reboot your business in 2021?
Maybe you are one of those blessed organizations that had record sales and profit year and your biggest challenges are how do we beat sales and profits in 2020?
If you want to reboot your business where do you start?
Data!
The first data sets we need to see is your sales transaction data and strategically analyze that data.
What customers realized sales increases, what markets are they in?
What products had sales increases and what products declined?
Who are the 20% of our customers that represented 150% to 200% of our net profits and who were the 20% of customers that were profit-leaking accounts?
Second we need to engage with our customers with voice of the customer research.
How are your buyers buying today?
Where do they turn for new solutions for current problems?
What criteria must that have to make a buying decision? Of your current customers who are your raving fans, and what customers are you in jeopardy of losing if things don’t change?
Last we need to assess the skills of our salespeople. We must assess the overall sales effectiveness of our sales team, systems, and process and close any gaps we discover.
How effective is your sales team today?
How much more effective could they be?
How long will that take?
What impact will closing skills gaps have on your bottom-line?
Once you have the above data sets you have what you and your team need to strategically reboot your business in 2021 and have a profitable year.
I have led a number of teams through this process over the past 36 years and if your team would like to explore rebooting your business for a profitable 2021 let’s schedule a call.
