Each business owner seeks for only one thing: Exponential increase in business. Steady or declining revenues are not good for a business. You have to increase the same. In this article, I will share the 3 things that you can do to achieve this much needed steady increase in business.
I am in marketing, sales and business development industry for more than 11 years. I am a digital marketing expert, but I have performed all roles from lead generation to conversion to nurturing. At the moment, I also benefit some companies with my Operation Management skills and business knowledge. The reason for sharing this brief intro is to give you confidence that you are listening to the person with a proven track record. I use these techniques for my clients who are using my business consultancy services with some other services as well. Also, I suggest these recommendations to the customers that use our digital marketing services. You, too, can take benefit of these suggestions for free. The trick is implementing it wisely.
I assume you all know what exponential growth is. In simpler words, keep on increasing revenues and ROI. There are many things you can do from staff and process revamping to operational changes. In this article, I will share suggestions related to one department that is Marketing, Sales and Business Development with an assumption everything else is perfect in your company.
1. Invest more in marketing
If you are not using marketing, start using it now. If you are already using marketing, you should increase your marketing budget with time. You must use all different types of marketing such as digital marketing; participation in conference, expo, etc.; viral marketing tactics and more. The marketing helps in generating awareness about your brand and increasing trust of people in your brand. A predefined segment of marketing can give you specific reach. To increase the reach and benefits, you have to increase the marketing budget and activities as well. In my personal opinion based on my experience, your marketing team should be bigger than the sales team that handles inbound inquiries.
2. Hire talented business developers and sales reps
This applies to digital marketing experts and all other staff members without a doubt, but there is a reason to outline it in this way. I have seen 3 types of business developers and sales executives:
You should invest on Number 3. They are more productive and beneficial to bring greater returns with a higher conversion ratio compared to others who are confined to a single workable approach.
3. Streamline Marketing and Sales Team
The toughest yet the most important task is to streamline your marketing and sales team. In more than 60% of companies I have seen no coordination between these 2 teams which must work in harmony. The simple reason is they blame each other. The sales and business development team always complaint for no good inquiries and marketing team complaints about no support or coordination from the sales team. This is the reason why your sales and marketing rockstars fail disastrously. You must create a culture in which these two teams help each other in bringing good results instead of blaming each other.
These are the 3 things you must do to increase your business. The last yet really important suggestions are
Hope this helps. Feel free to leave your questions in the comment section.
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Ashvini (Ash) Vyas has 10+ years of practical experience in digital marketing and international business development. She has written 100s of articles on various topics to live her passion of helping people with her knowledge and expertise. In addition to directing Digital Marketers India, Ash also delivers keynote sessions and holds key positions in some international companies as a consultant, director of operations and mentor.