January 28, 2019
In visiting with some of the world’s top sales and marketing thought leaders, as well as CEOs whose firms are seeing dramatic increases in revenue during this downturn, several actionable ideas have emerged which you can act on immediately.
1. Dramatically Reduce Sales Cycle Time, nothing improves cash flow and revenue more than reducing your sales cycle time. An important technique to dramatically reducing it is to use synchronous communication throughout the sales process.
Start with NEVER presenting a sales proposal to a customer without being on the phone or in person with them. Emailing a proposal to a customer ahead of a meeting doesn’t give you the opportunity to react immediately to potential concerns and objections that might arise. The more time a customer has to ponder an objection and potentially pollute their colleagues with negative reactions the more difficult it will be to move the sales process forward.
2. Price with Confidence
Of the four P’s of marketing, price is the only one that directly puts money in your pocket. Yet I find companies setting price with very little strategy behind the decisions. For more on this topic read Pricing with Confidence, 10 Ways to STOP Leaving Money on the Table by Reed Holden and Mark Burton. This is the time to increase price, not provide discounts you can’t recoup later.
3. Multiple Channels
“Place” is one for the other four P’s of marketing. Give up protecting territories and give customers as many options for purchasing your product and services as possible.
4. Half the Customers; Twice the Attention, eighty percent of your revenue comes from twenty percent of your customers. Focus on Best Buyer or Best Market and create a “nurturing marketing campaign” that touches these customers 10-15 times with educational information. If you’re not familiar with nurturing marketing read Jim Cecil’s book Nurturing Customer Relationships.
5. Keep Learning
Now more than ever, the field of sales and marketing is undergoing a transformation while harkening back to basics that have always been critical to driving revenue. As one CEO put it, “it’s a mystery to me why companies cut back on learning and training in down times. Now is when more focus should be put on training and capturing opportunity.”
Posted by Donna Hover-Ojeda at 1:23 pm | Comments | Permalink | Growth
November 22, 2018
If I had a dollar for every time someone asked me “how did you get the opportunity to really do what you wanted to do?” I would have millions! So many people go to the college their parents went to, they get the first job their ‘suppose to get’ and they think they are on […]
Posted by Donna Hover-Ojeda at 9:34 am | Comments | Permalink | Growth, Leadership
November 1, 2018
“Culture will eat strategy for breakfast every day” stated by Peter Drucker. You can have the best strategy, yet if the people don’t want to do it, they won’t! Execution, execution, execution – how do we make that happen? All the companies I am working with are showing dramatic growth! Which leads to weak […]
Posted by Donna Hover-Ojeda at 4:39 pm | Comments | Permalink | Growth, Management
October 18, 2018
Strategic planning is the ‘what’ people do together to create a future. Culture is ‘why’ people want to associate with you to create that future together. We can have a strategic plan that may be the best and greatest direction but if the people don’t want to help you it won’t happen. The other way […]
Posted by Donna Hover-Ojeda at 12:30 pm | Comments | Permalink | Growth, Organizational Modeling
July 12, 2018
Strategy is about hitting the target in the center every time! Recently, I was asked to review a couple of strategic plans because they weren’t getting the results they had hoped for. Some might say it is all in the execution. Some would say the strategy isn’t right. Some would say we have the wrong […]
Posted by Donna Hover-Ojeda at 10:48 pm | Comments | Permalink | Growth, Management
March 22, 2018
PART II: The One-to-One: How to Coach Your Direct Reports This is the second in a three-part series on how CEO’s can become more focused, efficient and effective in their role as CEO. Part one is The Six Essential Roles of the CEO. In today’s business environment, one of the most important roles CEOs can […]
Posted by Donna Hover-Ojeda at 10:42 am | Comments | Permalink | Leadership, Management, Organizational Modeling
January 28, 2019
CEO’s who know how to make money are getting together to focus on the challenges of fast growth. Confidential, experienced, seasoned CEO’s (10 years experience), who want to create a strong, new future for their companies, their employees, and their communities are meeting monthly in the Detroit area. Leaders Laboratory is a collaborative and energetic […]
Posted by Donna Hover-Ojeda at 12:37 pm | Comments | Permalink | Growth, Leadership