Grow Profits Without Breaking The Bank

Executives want more profits from sales and marketing managers but aren't willing to increase spending.  How do you create substantial results with limited funding in todays tough business to business professional services markets?  The answers will surprise you.

Now before I share the answer to this all important ... Are you doing everything you can with the budgets you have?  I hear you, budgets were cut last year, your marketing department is limping by, and you don't have enough sales people.

You can't rely on sales to sell more volume.  And, without increased funding marketing can't ramp up campaigns outside of what they are already doing.  I could list for you at least 100 other excuses I've heard perpetrated by sales and marketing managers ... all of which are lame excuses for poor productivity.

Chances are 25 to 30 percent of your customers account for 100 to 120 percent of your profits.  At least 10 percent of your existing customers are actually costing you money to serve (even if their dollar volume is high.)  With these new facts, here are a few strategies to grow profits without breaking the bank:

1. Fire unproductive customers it you can't make them profitable;
2. Focus efforts on finding new customers that look like profitable ones;
3. Alter marketing campaigns to talk specifically to your upper crust;
4. Make every sales or marketing campaign accountable with measures;

Just these four strategies can add six-figures to your bottom-line, because they focus your efforts on customers you've proven are profitable to serve.  Failing to observe these strategies could cost you twice that.  Why are you wasting time with unprofitable customers?

For a sequential approach to building a stronger more profitable customer base, be sure to get a copy of "How to Cultivate Your 'Top Ten Percent' Customers for Greater Profits" -- in it you'll find effective ways to do what's recommended here, and new strategies for business to business firms you can implement without increasing your budget.

More profits without increasing your budget?  Now that's something your executives will want to hear.  No matter what you do, take a moment to jot down your most profitable activities and move toward actions that do more of what is working (and cut out those things that don't.)

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