{"id":944,"date":"2020-04-04T19:51:45","date_gmt":"2020-04-04T19:51:45","guid":{"rendered":"https:\/\/www.b2bcfo.com\/rick-perrin\/?p=944"},"modified":"2023-01-25T16:26:13","modified_gmt":"2023-01-25T16:26:13","slug":"financial-strategies-to-increase-sales","status":"publish","type":"post","link":"https:\/\/www.b2bcfo.com\/rick-perrin\/financial-strategies-to-increase-sales\/","title":{"rendered":"Financial Strategies To Increase Sales"},"content":{"rendered":"<p>Have you just about run out of ideas to increase your sales? How about some financial strategies!\u00a0\u00a0Here are\u00a0some I use:<\/p>\n<ol>\n<li>Work with the CEO\/owner to increase the amount of time they are spending on sales.\u00a0 The CEO has more punch with customers and potential customers than anyone else in the firm.\u00a0\u00a0If\u00a0we can help the CEO increase time spent on sales from say, 10% to 20%,\u00a0what would be the resulting increase in sales, and how much\u00a0would flow to the bottom line?\u00a0This simple concept is often overlooked and can bring more to the bottom line than many other activities, including cost cutting.\u00a0 It is not difficult &#8211; we can show you how.<\/li>\n<li>Strategic Pricing\n<ul>\n<li>Understand your costs in-side out.<\/li>\n<li>Understand your true overhead rates (service firms too).<\/li>\n<li>Understand your variable and fixed costs and breakeven.<\/li>\n<li>Have a\u00a0robust quoting program to accurately estimate the cost of your product\/services\/jobs.<\/li>\n<li>Understand the bottom line benefit to the company of winning the quoted business, including\u00a0net contribution\u00a0and\u00a0cash.<\/li>\n<li>Identify minimum margins and\u00a0products\/services that are not meeting these margins.\u00a0 Determine how to increase those margins (reduced costs or increased prices).<\/li>\n<li>Use this information to develop &#8220;strategic pricing strategies&#8221; to win the business you want.<\/li>\n<\/ul>\n<\/li>\n<li>Identify and Increase\u00a0Good\u00a0Customers:\n<ul>\n<li>Calculate true customer profitability.<\/li>\n<li>Understand the soft side of good vs. bad customers.<\/li>\n<li>Rank\u00a0customers by profitability and the soft aspects.\u00a0 You will quickly identify the attributes of a good customer (e.g. size, industry,\u00a0geography,\u00a0etc.)\u00a0and can then target additional potential clients with similar attributes.<\/li>\n<li>Aggressively seek out these good customers.<\/li>\n<li>Weed out bad customers.\u00a0 Remember the 80\/20 rule &#8211; your bad customers are actually hurting the bottom line.<\/li>\n<\/ul>\n<\/li>\n<li>Build an ROI (return on investment) model around your products or services to help your customers understand the financial benefits of using your products or services. Work directly with them to fill out the ROI worksheet.<\/li>\n<li>Calculate the ROI of your advertising and other marketing activities and employ only those that meet a specified benchmark.<\/li>\n<li>Create and implement sales incentive plans to properly reward sales staff for\u00a0achieving the goals you set out, increasing sales to &#8220;good customers&#8221; and following the other items laid out above.<\/li>\n<\/ol>\n<p>Financial\u00a0strategies can have a great impact on increasing sales.\u00a0 If you are not employing these 6 strategies, you are\u00a0missing\u00a0out on incremental sales that could have huge bottom line impact.\u00a0These should be included in your overall sales and marketing strategies and annual plans.<\/p>\n<p>If you don&#8217;t know how to address these strategies on your own, don&#8217;t hesitate to contact me.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Have you just about run out of ideas to increase your sales? How about some financial strategies!\u00a0\u00a0Here are\u00a0some I use: Work with the CEO\/owner to increase the amount of time they are spending on sales.\u00a0 The CEO has more punch with customers and potential customers than anyone else in the firm.\u00a0\u00a0If\u00a0we can help the CEO&hellip;<\/p>\n","protected":false},"author":36,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_editorskit_title_hidden":false,"_editorskit_reading_time":0,"_editorskit_is_block_options_detached":false,"_editorskit_block_options_position":"{}","cybocfi_hide_featured_image":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-944","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Financial Strategies To Increase Sales - Rick Perrin<\/title>\n<meta name=\"description\" content=\"Have you just about run out of ideas to increase your sales? How about some financial strategies!\u00a0\u00a0Here are\u00a0some I use:\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.b2bcfo.com\/rick-perrin\/financial-strategies-to-increase-sales\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Financial Strategies To Increase Sales - Rick Perrin\" \/>\n<meta property=\"og:description\" content=\"Have you just about run out of ideas to increase your sales? 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