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3 Approaches to Increasing 1st Quarter Sales

3 Approaches to Increasing 1st Quarter Sales

Because much of the industry experienced a performance dip in the final quarter of 2008, an effective sales strategy will be paramount in the first quarter of 2009. Here is a snapshot view of three possible approaches to maximizing your results in the first quarter.

Approach 1: Organic Growth / Market Share Focus

* Many of your customers, particularly corporate customers, do business with multiple transportation providers. Focus efforts on securing more market share from your existing customers—pulling business away from competitors.
* Assess the most effective marketing and advertising mediums and reallocate budget accordingly. If possible consider increasing existing budget to further invest in the most proven advertising channels.

Approach 2: The Hired Gun

* Although rarely recommended by Charles Tenney & Associates, hiring a seasoned outside sales professional may be an option for the right business. Someone in your organization or some group of individuals needs to be playing the role of the hunter—proactively seeking and effectively closing every sales opportunity available.
* Many businesses do not have the resources to risk on an unproven sales person—particularly on someone who may not have an existing network of contacts buying from this industry. If you are considering hiring someone, make sure they have the ability to be effective immediately.
* It is possible for a sales professional to light your business on fire—in a good way. But, if you are not a seasoned sales person who has successfully managed professional sales staff, the risks associated with hiring a sales person often outweigh the potential rewards.

Approach 3: Growth by Acquisitions - ( 30 day to 9 month Cycle)

* It is common for business owners in our industry to be long in their ability to deliver amazing service and short on professional selling skills and/or the desire to proactively sell their service. Owners are even shorter on “time” to capitalize on the selling talent they do have. Acquisitions offset that problem by creating a dramatic influx of volume overnight.
* Acquisitions, when structured properly, can be far more risk averse than waiting on an unproven sales professional to produce or expecting an overwhelmed owner to find time to produce. A business suffering needs results now. It is often unreasonable and potentially detrimental to expect serious and timely results to be produced from within.
* Charles Tenney & Associates can address your questions/concerns about acquisitions and help you locate, structure, and secure the right acquisition for your business. And in the process, stop the bleeding, stabilize your cash flow, and increase your market strength.

If you would like speak to industry specialist about acquisitions or other methods of improving your business, please submit the contact form below.

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