Would you consider an underperforming sales force an asset?

Do you believe there are assets within your business that could be leveraged and optimized for more profits?

Would you consider an underperforming sales force an asset? How about advertising that doesn’t get results? How about your database of past and present customers, do you regard it as an asset?

There are many things that can make your company unique. Why was it that you went into business in the first place? Do you have a unique set of skills or experience? Does your staff have unique experience/skills? Do you have good relationships with vendors and suppliers? Do you have a high percentage of satisfied customers? Do you have comprehensive knowledge of your industry including your competitors? A great story to tell? A “leading edge” product or service?

Do your customers know why you went into business? Do they know what makes you unique and why they should continue to buy from you?

If they don’t, they probably won’t be customers for long.

If you don’t have a unique selling proposition (USP), or if it’s not clearly and consistently articulated, then you have probably reduced the buying decision down to price. If you’re set up to win a low-price battle, you might be alright for a while. If you’re not winning, or interested in winning the low-price battle, what do you do?

All of these questions, individually and collectively, represent marketing assets that are already within your business, that can be leveraged and optimized for more sales and profits.

Just knowing what your conversion ratio of prospects to paying customers could be considered an asset. Knowing how much your average first-time customer spends, and how often they return can also be an asset.

A great way to make sure your marketing is as efficient as possible is to focus “in-house” first. Make sure you have identified and leveraged all the “assets” you already have. This is what we help companies do. Before you spend money on advertising, or any efforts that get you in front of more prospects, make sure your closing ratio of prospects to paying customers is respectable. A small increase in closing ratio alone can bring about dramatic results. Also, make sure you understand the true lifetime value of a customer.

Make sure your USP is truly unique, and clearly and consistently communicated, and then your efforts to get in front of more prospects will be much more effective. Your underperforming sales team is an example of an asset you have already invested in! Now, without getting into the psychology of whether you have the right people in the right seats on the bus, your current team can be leveraged for more sales and profits. And it can be done without taking them out of their areas/away from their customers for expensive sales training. One way to do that is in the formation of a solid USP. Arming your underperforming sales force with a carefully crafted and clearly articulated USP, alone, can dramatically increase their results.

Forming a USP, the first step in our system, is often so successful, that the companies we work for don’t know if they can handle the growth!

I’d love to hear of other success stories in the formulation and communication of USP’s!

Best,

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~ by 21stCenturyMarketingSystems on December 22, 2009.

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