The average consumer is confronted with over 36,000 commercial messages per day. Decision makers face even more options. All available space is being bought up and sold as advertising space. Advertising exposure is increasing exponentially, and this naturally affects your cost of sales and therefore your margins. It now costs three times more to get just half the results you used to get. What to do?
You have two choices.
- You can work harder, which is tactical, short-term and comprised of reactive, daily activities.
- Or you can work smarter, which is strategic, based on a long-range plan and objective.
Your strategy should drive your tactics, not vice-versa. Strategists understand the big picture they’re creating. They agree with Michael Gerber, who said, “If you’re not working ON your business, you’ll soon be OUT of business.” So they create strategies that minimize cost and risk and maximize efficiency.
Why a Good Strategy is Essential
Statistically, motorists slow down when they see a police car to avoid a speeding ticket. Did you know they speed up again within only half a mile? That’s how quickly you’re forgotten by your clients and prospects if you don’t have a strategy that will create ongoing, unique, varied exposure and value. Strategists set goals and consistently work towards them, which leverages the Reticular Activating Systems of all those involved in the process. Involving others in your planning and creating joint ventures and win/win partnerships is essential.
Large companies know this.
90% of corporate executives surveyed felt a Joint Venture with another company was “absolutely essential” to maintain their competitive edge. At least 20% of the revenues in the Fortune 500 and International 2,000 are now coming from Joint Ventures. This strategic approach works in any size business and cuts the clutter to shreds, resulting in increased margins and staff retention, reduced customer attrition, radically decreased cost of sales and risk and exponential growth.
Sales Tip
By creating and setting your Buying Criteria, then educating your customers, you become the natural, logical choice. That overcomes clutter. And remember, it’s far better to spend $100 on each of ten good prospects than to haphazardly spend $1 on each of 100 suspects.
Management Tip
The second biggest problem in sales is that salespeople don’t close. But the biggest problem is hiring the wrong people. There is a proven system for hiring sales superstars and when you get the right salespeople, closing is no longer an issue. Once you have superstars, train them consistently and the sky’s the limit.
