Here’s the scenario: Your company fell short on sales goals and top-line revenue is way down. Your expenses are greater than your earnings. It’s time for some tough financial decisions, and the most obvious choice is to cut expenses. But is it the right choice? From a financial perspective, making cuts can be a good thing if they part of a long-term growth strategy, but making cuts to achieve short-term profitability is a huge mistake! Here’s why: Random cuts can hamper long-term [...]
Focus on the short-term can kill long-term growth Sometimes you must be the bearer of bad news. We are often asked, “what can we do now that will increase our sales this quarter?” Unfortunately, for most businesses, the answer is, “Not much.” Sales cycles are long and getting longer. Successes today are often the result of actions taken 3-9 months ago. And, while short-term solutions sometimes yield results, the success of a short-term push is usually insignificant when compared to the long-term opportunity. [...]
America is waking up to a new President-Elect. For many, the results of the election between businessman Donald J. Trump and Secretary Hillary Clinton are shocking, but they are only shocking if you haven’t been paying attention. Sure, the polls had Secretary Clinton winning in several swing states and President-Elect Trump had virtually no newspaper endorsements or support from his own party, but this election wasn’t about politics. It was about marketing, specifically disruptive marketing. What is disruptive marketing? A disruptive company [...]
If making a lot of money in sales was easy, then everyone would be doing it. These ten things separate the winners from the losers in sales.
Five years ago, Eric Zoromski started the Vx Group with one simple goal — to make companies grow. He started with a simple concept borrowed from the aviation world - "Vx," or a pilot's maximum angle of climb. Flying at Vx gets the plane as high it can as fast as it can, and altitude equals safety. The Vx Group adopted the term to illustrate how our efforts would lead to maximum sales growth for our clients. For the first year we worked with a small group [...]
Marketing your business has never been more complicated. Traditional avenues – television, radio, trade shows and print - are still in play, but so are new ones like the web, streaming video, social media and more. You hear terms like search engine optimization, social media strategy, content management systems, video pre-roll, site analytics, paid search & display advertising, and email marketing platforms, and your head starts to spin. You know you need someone to manage your marketing efforts, and your first [...]
Television personality Jon Stewart once said, “The Internet is just a world passing around notes in a classroom.” One quick look at Facebook, Twitter, Yelp, Angie’s List or any of the websites on seemingly endless list of places one can express an opinion, and you can see Stewart was on to something. Here’s the scary thing, though, some of these notes are about you! Yep, it’s high school all over again, but here’s the difference: you can actually control those messages! Right [...]
In a July 6, 2016 New York Times column, writer Farhad Manjoo highlighted a quote from “Future Shock,” the 1970 book by author and pioneering futurist, Alvin Toffler. “Change is avalanching upon our heads and most people are grotesquely unprepared to cope with it.” Toffler, who died in June at the age of 87, coined the phrase future shock, referring to the psychological state of people, or a social sickness that occurs when there’s "too much change in too short a period [...]
The eight-hour workday is an outdated and ineffective approach to work. Let go of this relic and try a new, more productive approach.
You can calculate your customer concentration risk by dividing the revenue from your top customer by the total gross revenue of your business in a year.
A disease could be afflicting your business right now, and chances are you wouldn’t even know it. It starts off slow, attacking the central nervous system of your business – the sales department – weakening the effectiveness of your sales staff by diminishing its ability to do the one thing it was born to do – sell. We call it sales sickness, and while its symptoms may seem like only minor inconveniences (sales staff bogged down with account management, a lack of [...]
It’s hard to believe that this actually happens, but some companies make it hard for customers to buy its products. Strange, right? Well, it does happen and it has to stop! If your company is doing and of these things, knock it off! Contact forms that go to nowhere. Someone is contacting you about a product, and you need to email them back. Clarification – a real person from your organization has to email them back, the automatic form submit email doesn’t [...]
A lot of companies have a sales organization, but what they really have is an account management organization – spending most of its time managing existing accounts instead of hunting down new leads. How do you know if your company has a sales team or not? Look back at the last 12-24 months calculate your customer base diversity ratio. Sales made to new customers -------------------------------------------- = Customer base diversity ratio Sales made to existing customers Your customer base diversity ratio should be [...]
Sales productivity is the #1 challenge for B2B organizations and it continues to decline. Consider these 7 helpful hints for increasing sales productivity.
Are you suffering from org chart disintegration? Since the recession of 2008, many companies have been operating lean — keeping the “do more with less” philosophy alive. While this seems like an effective way to maximize productivity while minimizing expenses, it has a harmful side effect. At the VX Group, we believe many companies – especially mature ones — are now seeing org chart disintegration – as people in traditional leadership roles are now devoting more time to short-term tasks [...]