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Suggest You - How do You Get the Most Out of a Limited B2B Marketing Budget?
One of the newer areas, and also the fastest growing area, of accounting is forensic accounting. A forensic accountant has a unique job because the responsibilities involve the integration of accounting, auditing, and investigative skills. Using all of these skills, a forensic accountant is, in summary, a true investigator. Forensic accountants are trained to look beyond the numbers and deal with the business reality of the situation.A forensic accountant is typically an accountant that is hired by a large firm or company, but can also be engaged in public practice, or can be employed by insurance companies, banks, police forces, gover
Action Point
Take the list of your Most Important customers (the Christmas Card List), perhaps also using Pareto’s 80:20 rule to refine the list still further, putting the names in the left hand column. Then, across the top, list out the products or services that you offer. This may be Nuts, Bolts and Washers; Vales, Pumps and Actua
If you're like most Americans you were tired of the high gasoline prices, but you feel rather helpless, as you know there is nothing you can do for you and your family. Perhaps it is crossed your mind that you could start your own oil company. I had considered this scenario recently for a fictional work. And the synopsis goes something like this;The folks would try to start their own oil company with lots of money, they would be mostly all liberals, they would eventually see they could not raise the money or get any of it done. So they would re-design the car and find that there are too many class action lawyers, regulations, unions
If you really are in B2B then you will know all of your customers pretty well because they’ve been placing orders with you for a while and should continue placing orders with you for a good while longer. The reality is that many salespeople, for whatever reason, not only don’t like administrative tasks such as maintaining databases but also regard their customers as their customers, not the businesses.
Action Point
Ensure that your business keeps an up-to-date record of the most important decision makers and key influencers. If you must, give the database an unthreatening title, such as the Christmas Card List. Cost: ?nil
Lesson 2
Just who are your most important customers? Are they the customers that spend the most with you? Are they the ones that give you the biggest margin or the most profit? Or are they the organisations that you currently do some business with but could do a lot more?
Action Point
Make it clear to the sales teams exactly which type of customers are important, and what sort of mix is required, and why. You might need the large accounts to pay for the overheads, the high margin accounts to contribute to profits and the growth potential accounts to fit into the growth plans you’ve got. Not to mention the inevitable customer churn. Once this is done, the Director of Sales can manage how time, effort and resources are spent, making sure that they are in line with your plans. Cost: ?nil
Lesson 3
We all need to sell more to stand still because of the nature of customer churn. When pressurised into producing Growth Plans we must always bear in mind the “hierarchy of risk” map. This hierarchy goes in three stages.
Low risk is selling more to existing customers.
Medium risk is selling your existing range to new customers and selling new stuff to existing customers.
High risk is selling new stuff to new customers.
The safest route to take is to sell more to your existing customers and the easiest way of doing this is through the Windows of Opportunity.
Action Point
Take the list of your Most Important customers (the Christmas Card List), perhaps also using Pareto’s 80:20 rule to refine the list still further, putting the names in the left hand column. Then, across the top, list out the products or services that you offer. This may be Nuts, Bolts and Washers; Vales, Pumps and Actuat
Work at home employment opportunities are growing by the day. If you have ever dreamed of working full time from home and making a full time income, then you just need to find the right work at home employment opportunity and the rest will just be chocolate pudding.In the old days - that is, in the really really old days - everyone worked at home. Work at home employment was the norm. Then, the Industrial Revolution took people out of their homes and put them to work in a factory. Thanks Henry Ford!Well, today, there is a new revolution. It's called the Digital Revolution or the Internet Revolution. You can think of it as a new
Lesson 2
Just who are your most important customers? Are they the customers that spend the most with you? Are they the ones that give you the biggest margin or the most profit? Or are they the organisations that you currently do some business with but could do a lot more?
Action Point
Make it clear to the sales teams exactly which type of customers are important, and what sort of mix is required, and why. You might need the large accounts to pay for the overheads, the high margin accounts to contribute to profits and the growth potential accounts to fit into the growth plans you’ve got. Not to mention the inevitable customer churn. Once this is done, the Director of Sales can manage how time, effort and resources are spent, making sure that they are in line with your plans. Cost: ?nil
Lesson 3
We all need to sell more to stand still because of the nature of customer churn. When pressurised into producing Growth Plans we must always bear in mind the “hierarchy of risk” map. This hierarchy goes in three stages.
Low risk is selling more to existing customers.
Medium risk is selling your existing range to new customers and selling new stuff to existing customers.
High risk is selling new stuff to new customers.
The safest route to take is to sell more to your existing customers and the easiest way of doing this is through the Windows of Opportunity.
Action Point
Take the list of your Most Important customers (the Christmas Card List), perhaps also using Pareto’s 80:20 rule to refine the list still further, putting the names in the left hand column. Then, across the top, list out the products or services that you offer. This may be Nuts, Bolts and Washers; Vales, Pumps and Actua
Autologica presents part four in a series of articles that address some of the common problems and situations that arise in family-owned businesses. The articles are based on an interview between Al McClymont, CEO of Autologica Dealer Management Systems, and J.C. Aimetta, an expert and coach who specializes in family-owned businesses and who has ample experience consulting for this type of company.Al McClymont: An essential issue in family owned businesses is succession planning, a complex subject from whichever angle you choose to look at it.A family business owner may feel quite reticent about handing over such a respon
Lesson 3
We all need to sell more to stand still because of the nature of customer churn. When pressurised into producing Growth Plans we must always bear in mind the “hierarchy of risk” map. This hierarchy goes in three stages.
Low risk is selling more to existing customers.
Medium risk is selling your existing range to new customers and selling new stuff to existing customers.
High risk is selling new stuff to new customers.
The safest route to take is to sell more to your existing customers and the easiest way of doing this is through the Windows of Opportunity.
Action Point
Take the list of your Most Important customers (the Christmas Card List), perhaps also using Pareto’s 80:20 rule to refine the list still further, putting the names in the left hand column. Then, across the top, list out the products or services that you offer. This may be Nuts, Bolts and Washers; Vales, Pumps and Actua
Searching for the Right EMR SolutionThe electronic medical record, or EMR, is a standard electronic database solution used by medical practices and medical service providers. The EMR solution technology effectively manages medical histories, records, and notes; however, all EMR solutions are not created equal. Before adopting an EMR solution, medical practices and medical service providers must search for the EMR solution that meets their specific needs. Two important needs common to most medical practices and medical service providers include medical transcription and SOAP note management.Sifting through EMR Software<
Lesson 3
We all need to sell more to stand still because of the nature of customer churn. When pressurised into producing Growth Plans we must always bear in mind the “hierarchy of risk” map. This hierarchy goes in three stages.
Low risk is selling more to existing customers.
Medium risk is selling your existing range to new customers and selling new stuff to existing customers.
High risk is selling new stuff to new customers.
The safest route to take is to sell more to your existing customers and the easiest way of doing this is through the Windows of Opportunity.
Action Point
Take the list of your Most Important customers (the Christmas Card List), perhaps also using Pareto’s 80:20 rule to refine the list still further, putting the names in the left hand column. Then, across the top, list out the products or services that you offer. This may be Nuts, Bolts and Washers; Vales, Pumps and Actua
Thirty years ago data entry job was handled very differently from the way we do things today. From keypunch, key to disk and now one thing has not changed that is data entry remain key to success, only the tools and the workload have changed. Data entry job today is just as essential as it was 30 years ago. As business depends more on enterprise, Resource planning, customer relationship management and other enterprise applications. More and more of the information needed to run a business must be online.Now a day’s data entry job online is to make money sitting at home. Data entry duties include the inputting of correspondence, reports
Action Point
Take the list of your Most Important customers (the Christmas Card List), perhaps also using Pareto’s 80:20 rule to refine the list still further, putting the names in the left hand column. Then, across the top, list out the products or services that you offer. This may be Nuts, Bolts and Washers; Vales, Pumps and Actuators; or PR, Copy Writing and Consultancy. Now, against each item in the matrix, put the estimated level of penetration (or wallet-share) you have with each customer against each product or service you offer. Show this as a rough percentage – 100% or 80% or 30% - something simple that everyone can understand. You might need help from the sales people on this. Better still, use the delivery drivers. They often get to see the inside of the customers’ warehouses and they know who’s buying what from whom. This is your Window of Opportunity. Cost: ?nil
Lesson 4
So far this exercise has cost you nothing but time, effort, and the embarrassment of not having this vital data to hand in the first place. We should now have on a single spreadsheet a list of the decision makers and key influencers at your most important customers, cross referenced with who buys what and how much of their spend you’ve got. This list needs to be prioritised a bit further.
Action Point
Take the list of customers and add a column for Annual Revenue. This can be for last year, or the last twelve months, or even the last six months annualised. Now sort the list with the highest revenue customer at the top. Cost: ?nil
Lesson 5
Fine-tuning the list based on the Windows of Opportunity can have a huge impact on the direction of the business as a whole. It is best to take the whole figure for penetration rather than the individual scores for each market segment, as this next stage doesn’t want to get too messy.
Action Point
Create a new column entitled Overall Penetration and stick to simple percentages such as 50% or 75%. Now divide the revenue by the percentage figure and the result should be the account potential. Sort the spreadsheet again, with the highest potential, shown in Pound Notes, at the top. This should be a list of your softest targets. Cost: ?nil
Lesson 6
We’ve touched on cust
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