I clearly remember the look on our client’s face after the first three months. Collectively the actions we’d implemented had a compounding affect that quickly increased the enquiries they were receiving and converting. He was impressed. And we did this without increasing their marketing budget.
This was to become the start of a 5 year client engagement during which our client grew at a pace much faster than their rivals and then throughout the recession when others were contracting.
From this work BridgeBox was born, our unique call quality monitoring system.
So how can a company increase sales without spending more on marketing?
There are a number of ways a business can be more profitable. But the real key to a profitable business is to build in operating efficiencies throughout the business, putting the right building blocks in place to deliver a framework for gradual but continuous improvement.
Broadly speaking to improve your profitability you can implement cost cutting strategies, improve sales performance or improve operational performance:
Cost Cutting Strategies
Buy more effectively
Check fringe benefits
Check payroll costs
Cutting unnecessary or low value costs
Eliminate unnecessary overheads
Reducing direct costs (especially for low margin products/services)
Review company owned vehicles
Improve Operating Efficiency
Concentrate your sales efforts
Focus on a Niche market
Focus on continuous improvement
Maximise the value of all investments
Recruit an effective team
Segment your business operations
Segment your market
Improve Sales Performance
Add new, high value features
Budget and Plan
Create Systems (procedures and methods)
Employee inclusion and engagement
Expand your market
Expand your product range
Focus on your most profitable customers
Review credit limits
Review product/margin sales performance
Review your offer
Turn decisions into policies to avoid making them twice