High Impact Opportunities?
People keep asking, what can have the greatest impact on my business?
Based on our observations (and the research of a whole lot of others), there are three areas that deliver real game changing results.
Pricing Strategy – When you have thousands of product SKU’s and hundreds of customers, pricing strategy gets complex. We believe too complex for manual operation. David Bauder’s and his Strategic Pricing Associates has historically delivered two points or more additional margin for their clients. I believe a very large chunk of this increase flows straight to the bottom line.
Customer Targeting – Selecting the customer who achieves maximum benefit from your products improves your value proposition. Selecting the right customer improves your sales effectiveness. Research indicates companies with a dynamic targeting process outperform their peers by 47%. What would happen if you brought in more of the right customers?
Employee Effectiveness – In distribution employees consume 60+ percent of the revenue. Most businesspeople claim their employees are their biggest asset. Yet, very few have a budget for employee training. Those who do invest in training tend to spend the money at the bottom. What would happen if your top employees performed better? Independent research indicates that executive level coaching carries a 500% return on investment. 500% is a big number.