Profitability… Margins… these words surely resonate in the mind of every business manager throughout the year. According to market sector, company size, business model, and many other parameters, you have different ways to generate profit margins. However, there are two areas of improvement you should strongly consider to increase profit margins: the automation of your sales force and the optimization of your products offering and pricing policy. That being said, here are a few tips to leverage better profitability.
Most of sales reps usually dread the negotiation stage, and they consequently make several mistakes since any small change is stressful. Worse, some of them will barter their discomfort against discounts that are not needed nor solicited. In order to avoid this situation, wouldn’t it be better if your sales reps can face last minute requests from customers wishing to edit a quote?
Any sales manager will tell you that sales reps are rare and expensive resources. Unlike many professions whose work is limited to predictable and repetitive tasks, the sales rep has to have a wide variety of knowledge ranging from the capability to generate interest when prospecting to the ability to negotiate what is best for his employer.
The keynote presentation this afternoon at Dreamforce 2011 in San Francisco has been from Eric Schmidt, the CEO and Executive Chairman of Google. He was interviewed by Marc Benioff, the CEO of Salesforce.com.