Profit and growth improvement
Managing the intangibles that lead to a profitable business is key for the business profit and growth. Profit can come from a variety of sources including revenue and managing business overheads, input costs, expenses, people, and products. Exploring and fine-tuning these business elements can yield good dividends. Managing profit goes beyond just managing figures, it is a culture which needs to be inculcated. We are here to help you manage the intangibles which can contribute to a profitable business.
Your profit margin is a metric that should always be on your radar, and for good reason. It answers critical questions about your business :
- whether or not you’re making money or
- if you’re pricing your products correctly.
It’s important to note, though, that your profit margin isn’t just something you should measure; it’s a metric that you should continuously improve.
In today’s hyper-competitive, customer-driven business environment, achieving consistent sales growth can be difficult. Identifying gaps in the revenue capture cycle requires an understanding of its two key drivers: volume (leads, prospects, orders, etc.) and conversion rates (how well leads turn into prospects, and how many prospects turn into customers). That’s where our business growth consulting can help.
JD Business Consulting Group have helped organizations overcome obstacles to profit improvement. With experience across many industries, we know that barriers to sales growth are often more than just sales management issues. They can also be tied to breakdowns in strategic focus, tactical marketing, service handling, and delivery reliability, even how well interdependent functions are aligned in terms of direction and incentives.
We begin by analyzing your company’s revenue picture (by customer segments) so that we fully understand the variances in the buying process. This allows us to identify breakdowns in sales and service that may be affecting your sales volumes, conversion rates and customer satisfaction.
Our business growth consulting experts also examine customer segments by key variables, such as:
- Buying cycles
- Order size and frequency
- Pricing variation
- Account concentration
- Service requirements
- Retention rates
- Segment growth
We match this fact base against your business activity (such as call targeting, territory management or delivery reliability) and look at how well your management systems provide information critical for understanding what is driving or constraining profit improvement.We then work directly with your sales and service leaders to ensure they recognize the constraints that are under their control and that they appreciate their role in implementing the solutions developed. Together we help identify specific process, system, or behavioral gaps in the selling cycle that need to be addressed and develop specific, tangible, results-oriented plans for improvement.
Most programs focused on revenue growth are designed to increase pipeline volume and improve conversion ratios. An increase in pipeline volume can be driven by better customer segmentation, improved marketing to targeted segments, and the methods and materials that better engage prospects. Customer retention and development are also targeted areas to retain or grow revenue streams.
We work with your managers to focus marketing and selling efforts on specific customer segments and to refine the associated sales funnel and sales cycle activities. Improving account management, opportunity identification, selling and service capabilities at customer touch-points are all generally part of an implementation plan to foster growth.
To ensure these improvements are sustainable, we make sure your sales and service leaders have the right executive support, management tools and coaching needed to drive growth.