Art Jacoby's Monthly Newsletters
Newsletter Library - July 2006
Driving High-Profit Sales
What’s even better than increasing sales? Adding sales with the highest possible gross profit rate. So, how do you generate these high-profit sales?
Here’s the formula: provide greater benefits, find the right customers, and optimize profits.
Provide greater benefits
Delivering greater benefits begins with understanding your company’s strengths and weaknesses relative to two things: your competitors, and the benefits desired by potential target markets. Pursue the target market niche that most highly values and benefits from your product and service strengths.
Add the right customers
If you craft a very compelling story and use the right communication vehicles, you can raise awareness and whet the appetite of your target customers. Once you’ve got their attention, get to work with a carefully constructed, repeatable sales process that demonstrates the value of having your company in their lives.
Optimize profits
You’ve earned the right to charge a premium that reflects the high level of value that you bring. Combine this premium pricing with process improvement to eliminate extra cost, and you’ve maximized your company’s profits.
Aim for these:
- Increase sales and gross profit per customer
- Meet with more good prospects per month
- Improve conversion rate of good prospects
Art Jacoby advises high potential growth companies.
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