Have you ever asked yourself: How much does my client cost? To know the answer, you need to calculate the so-called CAC (Customer Acquisition Cost). If it is too high, the company will start to incur losses, even if it constantly acquires new customers. However, CAC is not the only indicator that is worth tracking - CLV, or Customer Lifetime Value (customer value in the long term) is equally important. How can you calculate both indicators and why not knowing them is one of the biggest mistakes a sales manager can make? I invite you to read the Grzegorz Kubera's article “How much does your client cost?”.
Another question any sales manager would like to ask is: How can I increase my sales without losing my margin? Knowledge of business and commercial mathematics may be very useful for this task, not only when it comes to the boss, but above all when it comes to their team. In particular, it is crucial to control the salespeople’s natural tendency to grant discounts to customers who hesitate before buying. More on this subject you’ll read in the article by Małgorzata Warda.
During a pandemic, many of us succumb to emotions, especially negative ones, much faster. As a result, it is much easier for conflicts to escalate - both in the relationship between the boss and their employees and between sellers themselves. How do you not exacerbate the situation and not to threaten the cohesion of a team? I highly recommend Katarzyna Muzyczyszyn’s article “How to avoid escalating conflict in tense situations”.
Just a few years ago our email boxes were bulging with hundreds of ads, spam and other messages, and we usually paid little or no attention to their content. It seemed that email was passed its prime, and that this innovation would soon become a thing of the past. However, instead of marginalisation there came transformation.
Anyone can find their own sources of motivation. It’s very important to be aware of both what drives us to act and what leads us to put off our goals. How do we do that - how do we move from words to deeds?
Sales is one of the most popular professions in the world and, although it may seem like selling goods and services doesn’t require too much effort, only a select few achieve significant success, earning amounts that others can only dream of. Even though the reasons for this are largely visible in the competences of the best salespeople, it is often an emotional topic.
Any interaction between a manager and an employee provides an opportunity for mutual understanding only if the manager is the right person in the right position (this is surprisingly rare), and if the subordinate takes a professional approach. What does this mean in practice?
The new month began quite unpleasantly for David. His branch manager came up to him and, without asking anything, declared: - A new adviser is coming tomorrow. I’d like you to show him the ropes, how you serve clients and how you look for new ones. Just show him how we work, okay? The next day, a new co-worker appeared at David’s desk and immediately started talking about what he doesn’t like...
Mark is an experienced salesperson working in a car showroom. It was a really hot day. Thankfully, the air conditioning was on full blast in the showroom, allowing Mark to concentrate on work and not think about the temperature outside. However, thanks to the e-mail that Mark received up a few minutes ago, he’s now sitting in a pool of his own sweat. It turned out that a large consignment of vehicles...
As a sales leader, you likely understand the numerous ways a customer relationship management, or CRM solution can add value to your business and help transform your sales processes. Studies have shown that companies who incorporate CRM systems communicate more effectively with their customers and deliver a better overall customer experience, in turn helping to boost customer retention. So how then,...
You don’t necessarily need a huge budge to create a video for your business. Of course, it helps, but it isn’t necessary for creating attractive materials for your customers. In the article, we present some tips on how to create movies with limited financial means.
Salespersons have a lot of data to manage. And today more than ever, when the experience we give our customers is our differentiator, it’s hugely important not to reduce one’s customers and prospects down to just raw data.
Have you ever come out of an important meeting with a strange feeling, thinking, “Did I maybe overdo it a little bit?”, “Were my reactions too spontaneous, not professional enough?”. If you have, I offer you a short article on this topic.
Going down the road of self-development requires the courage to leave your comfort zone. In this article you will learn how to take the first step, that is, how to diagnose your professional weaknesses and determine what criteria should be used when choosing a training program that will help overcome them.
Modern sales are evolving with the development of new technologies. Ubiquitous access to knowledge and information is also changing the customer’s approach to the purchasing process. For years, we’ve been talking about the demise of traditional sales and the smaller and smaller role that salespeople play in the whole process. And how is it really? Here are seven challenges that are increasingly affecting...
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