In our last blog post, we discussed the importance of a clear mission and values statement to ensure that your team is aligned and that there will be consistent execution of your unique value proposition.
When it comes to revenue growth, boosting your sales is easier said than done. Increasing sales is always a vital business initiative, yet often in planning sessions, higher sales are plugged into business models without careful consideration of how these higher sales will actually materialize. Researching your customers is a proactive approach to driving sales growth.
Analyze your current customer sales data
Make sure that your entire leadership team knows who your best customers are. Consider these questions when determining your best customers’ preferences.
- How much did they buy from your business last year?
- How frequently did they buy?
- What products and services did they frequently purchase?
- Who is most often your key decision maker?
Ask your best customers
Validate your analysis by listening to your customers. This can improve your product and service development and sales processes. You might be surprised at how much you learn by reaching out and listening to customer needs. Research and find out if you have any unhappy customers and learn from them to solve the issue, minimize damage and prevent future problems with customers.
Utilize best customer preferences
Use what you learn to prioritize growth in smaller or new customers. Include what you learned in any Customer Relationship Management (CRM) system that you use. The business of best customers is the best kind of business. Encourage salespeople to go after new customers that look like your best to target the appropriate decision makers.
By utilizing best customer knowledge throughout your company’s business development process, sales will grow organically.