Rhonda Abrams At Gannett News Service:
Looking for opportunities to make more sales? Well, I know one place you can find it, and you don’t even have to leave your office: examining your customer sales records.
Yawn. Looking at sales records has to be boring, right? After all, that’s in the past and just a bunch of numbers. But there’s a wealth of new sales potential in those figures if you only know what to look for.
Last December, I sat down and examined my own company’s customer sales records. Sure, I already knew who our biggest accounts are, but until I crunched a few numbers, I didn’t really understand just how my income was distributed.
Boy, was it enlightening. I learned that one customer represented a much bigger percentage of my income than I realized. We weren’t spending nearly enough time with them; they could probably have been buying a lot more. I also realized there were other prospects very much like them, and we needed to be out cultivating similar companies. Meanwhile, we were spending resources chasing customers who actually weren’t bringing in as much cash as we thought.
The truth is that in most businesses, like mine, a few key customers account for a major amount of total revenues. There’s good news and bad news in that info.
Read more.
Photo by MSDesigns.
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