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30 Jan 2015

How Salespeople Make Customers Rich

Gone are the days where people will buy what you sell if you sell well.  Also, a long established brand may not bring in sales.  Look at the dismal sales of Windows Phone and you'll realize that what customers want is nothing but increase in profits.  (see here for winning sales strategies)

Profits to an individual could mean more convenience, faster productivity and reduction in cost.  If you are selling to a business, there are 36 ways a salesperson can increase his customer's profits:
  1. Increase in sales.  Like our sales training can help our clients achieve a 10% increase in sales in just 2 months
  2. Reduction in wastage
  3. Lower direct and indirect labour cost
  4. Lesser overtime and thus lower labour cost
  5. Higher and more predictable quality products and services, leading to more sales
  6. Cut down in repair and maintenance cost
  7. Faster turnaround, resulting in higher sales and lower overheads
  8. Lower overheads
  9. Higher productivity, leading to lower labour cost and higher profits
  10. Better risk management, resulting in more stable profits
  11. Improvements in cash flow
  12. Higher yield, resulting in more sales and profits
  13. Lower finance cost, due to lowering of labour and other costs
  14. Lesser management cost, as higher productivity arise from fewer labour used
  15. Better branding and image, resulting in higher sales and profits
  16. Ease of use, resulting in higher output at lower cost
  17. Happier team, giving higher team productivity
  18. Increase in staff rewards, as higher sales and profits will ultimately increase staff remuneration
  19. Better utilization or capital and other resources, resulting in higher return on equity
  20. Better compliance with government and other environmental regulations, leading to lower cost
  21. Stronger customer loyalty, leading to higher quality sales and profits
  22. Lower utility and other energy cost, arising from higher output per time
  23. More convenience for users and customers, giving rise to more business and profits
  24. More time for staff to do value-added activities, resulting in higher sales and profits
  25. Higher creativity and innovation resulting from higher output with less input
  26. Fewer customers' complaints and problems, leading to higher sales at lower cost
  27. Better profit margins, giving more payouts for all
  28. Increase in customer retention, giving you to more sales
  29. Better control and management, giving more time for business development
  30. Leaps in strategic management and leadership, resulting from the above
  31. Lowering of stress level, because the team can now handle more work with less resources
  32. More efficient use of human capital
  33. Better deployment of financial capital, leading to higher business value
  34. More free time to pursue higher value activities like strategizing
  35. Compete better in the marketplace, resulting in higher quality and lesser problems
  36. Do more with less
I could go on and on: but the point is all salespeople must able to increase the profits for their customers or they are just wasting customers' time and money.  Related articles: