You cannot plan effectively unless you first look back. This 10-point sales review highlights the major areas to consider as you look at 2004 and develop a strategy for ensuring increased revenue for the New Year.
- Sales by Product
Consider all of the products you are selling. Determine which have been most often requested and what items should be deleted from your product line. Are there products that are selling so quickly that you need to watch your inventory more carefully? Look for products that have had maintenance problems, been returned or generated lots of complaints.
- New Accounts
Make a list of all of your accounts for 2004, and make special note of those that were new. Are any new physicians now calling you? Have you located any new social workers or case managers now referring business to you? Is about 10 percent of your business now coming from new accounts? Since managed care and other business networking arrangements can easily change your customer base, make sure that you are continually building your list of new referrals.
- Marketing Events
Look back on your calendar and make a list of all the health fairs, conventions and meetings you attended, and identify what it cost you to attend. Rate each event on a scale from 1 to 5, with 5 being an event you must attend again next year, and 1 being an event you can avoid. Others who attended these events can help you decide which ones are a “must-go.”
- Inventory of Marketing Products
Look in the closet and see what marketing products are in full supply. Determine what products you can do without, what products the customer most enjoys receiving and what marketing items should never be ordered again. Planning ahead can save money as you purchase certain items in bulk.
- Business by Account
Look at the buying trends from each of your accounts and compare them to previous years. Has there been a change in buying habits from particular accounts that may not be calling you as often? Are certain accounts no longer buying products they used to purchase from you? They could have had a change in staff and may need to learn more about who you are and what you offer.
- Key Problem Areas
Review the list of complaints you received throughout the year, and note areas in your operation that may require a new policy or procedure. Once you become more aware of frequent problems, begin working on their solutions.
- Most Requested Special Services
Develop a list of those services and products continually requested. Consider purchasing new products, developing new programs or altering the manner in which your service is delivered. Learning from your customers is your very best training opportunity.
- Revenue by Sales Representative
Look at the records of each sales representative. Determine who is selling what and who is NOT selling the full line of products. If certain salespeople are not being as productive as they had been — or should be — talk with them to see what can be done to help them reach sales goals or quotas.
- Evaluate All Contracts and Determine What Business
Arrangements to Avoid
Look over all of your existing contracts and business relationships. As you look ahead to 2005, determine which contacts need to be renegotiated and which business relationships should be cancelled. Often, it takes 60 to 90 days to get out of a contract, so you do need to plan ahead. Review your business records to make sure you are not continually accepting problematic business.
- Retail Sales
Check your sales floor. Do you need to move things around? Has the arrangement and placement of products prevented customers from reaching certain items? It is time to look on the shelves and see what products are outdated and need to be discarded. Are there products on your floor that, once sold, should not be reordered? This is the time to spruce up, clean up and evaluate your entire retail sales operation.
While these points are not the only issues to consider, they can set the stage for building a strategy to grow your business in 2005. Take the time to see where you've been — and then you can begin to determine where you're going. Take the time to see where you've been — and then you can begin to determine where you're going.
Louis Feuer is president of Dynamic Seminars & Consulting Inc. and the founder and director of the DSC Teleconference Series, a teleconference training program. He can be reached at www.DynamicSeminars.com or by phone at 954/435-8182.
