Our topic for newsletter and blogs this month is “predictable, reliable revenue sources.” This is especially important in uncertain economic times which, given the election year, we are in right now.
Just what do “predictable and reliable” revenue sources consist of? Let’s find out.
Marketing
The first element for predictable and reliable revenue sources is marketing.
In reaching out to obtain reliable and predictable revenue sources, your marketing needs to express the benefits of retaining your company for regular services or, for products, the benefits of tapping into your company’s product line continuously. This kind of marketing should continue perpetually, of course adjusted for effectiveness.
Once a customer has purchased, marketing must utilize regular and effective methods for remaining in contact with them. If it makes sense, they should be offered more of the same product or continuing service. They should also be offered additional products and services that could suit their needs.
The right marketing is how you can obtain new clientele as regular revenue sources, and how you can continue to inspire them to remain on board.
Sales
Then there is the sales angle for obtaining and retaining predictable and reliable revenue sources.
From the sales standpoint for new customers, the approach is similar to marketing. Along with selling the customer exactly what they’re looking for (refer to our book CLOSING is NOT your PROBLEM), you also utilize the customer’s needs, wants and desires to sell them on the idea of continuing as a client of your company. As a salesperson, you should approach every prospect as if they’ll be a customer for life.
Once a customer has purchased, you should follow the same pattern as marketing of remaining in regular contact. Routinely reach out and discover what benefits they’re obtaining from your company’s products and services (making sure to resolve any problems instantly). Offer them additional products and services that fit their requirements.
Delivery
The last, and probably the most important, element for obtaining and retaining predictable and reliable revenue sources is delivery. For products, this means getting the item or items into the customer’s hands as rapidly as possible and ensuring they’re satisfied. For services, it means getting the service delivery up and running immediately and providing the service to their liking and satisfaction.
Customer Service
A crucial element of both sales and delivery is customer service.
While many schools of sales thought would argue that customer service is a separate function from sales, top-performing salespeople always incorporate it. The salesperson should service the prospect from the beginning, even to the point of making sure calls and appointments are conducted right on time. Then, of course, the salesperson helps to see that products and services are delivered in a timely manner and to the buyer’s complete satisfaction.
Of course, customer service is part and parcel of delivery. How well products and services are delivered will affect the customer’s perception of your company and its offerings.
Customer service also plays a vital role in rapidly solving problems or issues with products or services. After experiencing a problem, the customer needs to feel that it was not only competently solved but solved beyond the customer’s expectations. They need to know they’ll always receive top-notch customer service from your company.
The Keys
Yes, as we have described above, the keys to maintaining predictable and reliable revenue sources are marketing, sales and delivery. Also, as noted, make sure that customer service, in addition to its own importance, is a real part of sales and delivery.
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