It is no surprise that with the volatility of markets and the complexity of consumers and customers, companies across industries are in continuous search for more aggressive and accelerated business growth systems. Strategies on lean management, review on supply chains and revamp on operations management is a common story. However, it does not always translate to sales performance improvement.
As companies pursue profitable growth, processes from cradle to grave are scrutinized with the goal of boosting revenue and maximizing every asset and opportunity along its way. With this being the trend and assuming that the thoroughness of rival businesses is at par, what then is the secret to an accelerated growth system? What spells the difference between surviving and thriving? Service.
In a study featured in the Journal of Global Business and Technology, the unparalleled significance and growth of the service sector was highlighted. Case studies illustrated how multi-million dollar firms have experienced exponential sales performance improvement when they zeroed in on customer satisfaction. Investments on Customer Relationship Management tools are creeping its way up as budget priority while services are taking its spotlight in the global arena. This is true especially since companies with accelerated business growth systems are aiming for positive corporate revolution.
After looking at numerous research work done in this popular subject, there are evidently three most popular factors that customers are looking for:
1. Consultative selling
Given the volume of available resources, training materials and success stories on the power of customer centrism, consultation is indeed an undeniable key for improvement in sales performance. Decades ago, this approach would be frowned upon. The marketing and sales people are anticipated to be the experts. Now, the companies ask questions and on the other end of the spectrum, answers are given. The real bosses are the ones who bring money to the institution. It has finally been realized that once the needs and expectations of the customer are understood, there can be a more accurate accelerated business growth system that the company can better bank on.
2. Commitment and flexibility
Research done by Accenture to evaluate the role of supply chain in enabling profitable growth and high performance stressed the pivotal role of flexibility in satisfying the preferences of a highly dynamic market. Companies should be able to give more options down to the grassroots. Gone are the days when the basic assumption is that one size fits all. If an industry is committed to improvement in sales performance, it should be willing and able to stretch itself and walk an extra mile to gain the competitive edge. Product features, terms, pricing and should not be rigid but workable.
3. Credibility and consistency
Public relations, branding and advertising are just some of the investments companies are willing to make to establish their credibility. The increasing demand for training as well as organizational and talent development are also proof that businesses serious about accelerated growth systems are giving much value to the way they are perceived by their customers. Credibility is priceless. Yet, a reputation built for years can go down in rubbles if not backed up with consistency. Performance checks, monitoring, evaluation and feedback systems must be in place to ensure service excellence.
In a world of cut-throat competition, what defines and sets apart the winner from the losers is the lifeblood of sales performance improvement – service.