Three Steps to Leverage Your Capabilities for Incremental Growth
Print service providers have greatly expanded their offerings and look to keep all that equipment and those complementary services busy, by helping their customers go to market. How are they doing it and what steps can you take to make sure your sales team is “checking all the boxes?”
It really starts with making sure everyone that is client-facing understands the various capabilities that you offer. Having more and more customers utilize the array of services that you can offer can have a positive impact on the business and further strengthen client relationships. Start by taking an audit of the work you do and the services you provide for your customers. Begin with your top 20-25 customers and work your way down from there.
The audit is meant to help identify the gaps, or the underutilized services for each customer. Use a percentage, or a scale of 1-10, to indicate the amount of business in each sector that you currently provide. For example, the areas that have less than 50% of the work will have more room to grow versus the areas where you have 75% of the business. The allocations are “guesstimates” and will be used mainly to identify potential new opportunities.
You’ve done the audit and have identified the opportunities for growth. Your task now is to determine the best path forward to expand your services within each customer segment that you’ve identified as a growth opportunity. Begin with the low-hanging fruit – the segments where you know they purchase and use these services, but they are not buying them from you. Doing this should provide you with a 60-90 day plan for further identifying opportunities, and executing your action plans for growth. You’re looking for incremental growth here – go for the singles and doubles and you’ll probably stumble onto the triples and home runs.
Whether you are a new CEO, or a seasoned professional, reviewing these opportunities for incremental growth should be an ongoing exercise. How are you evaluating your clients? – send me a note or leave a comment.
Mike Philie can help validate what’s working and what may need to change in your business. Changing the trajectory of a business is difficult to do while simultaneously operating the core competencies. Mike provides strategy and insight to owners and CEOs in the Graphic Communications Industry by providing direct and realistic assessments, not being afraid to voice the unpopular opinion and helping leaders navigate change through a common sense and practical approach. Learn more at www.philiegroup.com, LinkedIn or email at firstname.lastname@example.org.
Mike Philie leverages his 28 years of direct industry experience in sales, sales management and executive leadership to share what’s working for companies today and how to safely transform your business. Since 2007, he has been providing consulting services to privately held printing and mailing companies across North America.
Mike provides strategy and insight to owners and CEOs in the graphic communications industry by providing direct and realistic assessments, not being afraid to voice the unpopular opinion, and helping leaders navigate change through a common sense and practical approach.