While CEOs of S&P 500 companies are overwhelmingly seeing tepid revenue growth and declining profits, a few highly innovative companies are successfully accelerating organic growth by building emotional connections with customers.
Every company that markets products or services produces sales. Ringing up transactions, however, is not the same as having a sales culture or selling system in place.
CEOs have likely already conferred with their leadership teams about how they will deliver sales- and marketing-fueled growth for 2016. Yet while no successful leader submerges him or herself in the nuts and bolts, you must have a dashboard, even an informal one, for guiding your team, asking the right questions and keeping your eye on the high-level feedback.
Every company that markets products or services produces sales.
Peter Drucker, the guru of modern management theory, said these now famous words: “the purpose of a business is to create a customer, and the purpose of the leader is to grow the value of the customer.”
If you’re best salesperson is a cut-throat, take no prisoners, numbers-oriented deliverer, he or she may become a has-been in the near future. That’s because the ability to “serve” is overtaking the ability to “sell” as the key trait of a champion salesperson, according to a new study by the National Center for the Middle Market.
Rebranding a business is a great opportunity for a company to show how it has evolved over time and debut its forward-thinking vision and mission to its constituents. It also is a tremendous undertaking, which requires precise strategy, exact timing and a great amount of preparation that must be communicated from the top all the way down.
Your company’s product—no matter how unique or superior to a competing product, no matter how affordable or cost-agnostic—isn’t enough anymore. Winning the war for customer acquisition and retention is no longer a product game, it’s a relationship game. The battleground is omni-channel consumer engagement. This requires a holistic view, which can only be achieved by having a complete customer platform.
Make no mistake; the world of sales is changing. Technology seems to be driving the sales vehicle in today’s society, but it’s the old school, tried and true, consultative techniques that separate the good from the great sales professional.
Former Valeant Pharmaceuticals chief executive Martin Shkreli may be the poster boy of price gouging run amok, but the heat is increasingly on for the rest of the industry to tamp down on drug price increases and base growth more on productivity and less on arbitrary hikes to please shareholders.