Seven steps to sales success this festive season

Make Christmas sales a cinch with these handy tips from MYOB
By: MYOB
 
SYDNEY - Nov. 26, 2013 - PRLog -- The lead-up to Christmas is a frenetic period where many business operators yell hallelujah for the appetites of enthusiastic consumers. It’s also a crucial time to get active and plan well for a prosperous selling period.

With this in mind Australia’s largest accounting software provider, MYOB (http://facebook.com/MYOBteam), has prepared seven steps to help SMEs set a successful sales strategy.

MYOB CEO Tim Reed (http://linkedin.com/in/timjreed) says, “For many businesses, activity reaches fever pitch in the lead-up to Christmas – both online and offline. With so much going on it’s easy to focus on surviving rather than on thriving, so it’s critical to make sure you’re prepared.

“Putting time aside to work on your business strategy can really help drive sales success. Effective planning now can mean the difference between flourishing and flimsy Christmas sales. There’s more competition for the shopper dollar during this time so plan a range of tactics for attracting them.

“This includes selling your products and services online or, for business-to-business operations, locking in contracts for next year. With more than 50% of consumers researching online prior to making a purchase, it’s no wonder our research shows SMEs with a website and a social media site are 63% more likely to see an annual revenue rise.

“The demands of the silly season coupled with the commitment of running a business can be overwhelming. Remember to focus on why you love your work and not lose sight of the reasons you’re in business.”

MYOB’s seven steps to festive season success:

1. Examine the last 12 months’ wins & losses


The time is ripe for a spot of soul searching. Step outside your business to reflect upon the initiatives that worked, those that didn’t and those that can be refined. Did your staffing levels match the workload? Are you sufficiently staffed for the Christmas crush? If you have downtime over Christmas is leave locked-in? Knowing the strengths, weaknesses, opportunities and threats to your business today can help you improve your business for tomorrow.

2. Consider a customer retention plan

It costs 5-7 times more to acquire a new customer than to retain an existing one, so it pays to identify your most profitable customers. Don’t have a customer retention strategy? Make time to build one. It’s a great way to develop and maintain productive relationships and grow referral sales. It also enables you to explore ways to grow revenue and recurring sales, and add stability to your business. If you have key clients make time to call them before end of year. While the intent would be to say thanks for their patronage this year, the outcome may well be locking in orders for next year. It’s easy to keep customer and sales records current by using up to date accounting software.

3. Activate a customer acquisition strategy

Want to attract new customers to your business but are unsure how or where to find them? A customer acquisition strategy is a powerful way to determine who your existing customers are, and equally who your target customers are. It can help you understand the customers you want to attract and retain, what they want, how much they’re willing to pay, the products or services they’ve tried, plus their expectations about your brand, product or service.

4. Evaluate your product and/or service offering

If it’s been a while since you took a close look at your products and/or services, then there’s no time like the present to reassess your mix. How well is your market offering helping you reach your goals? Are some elements more profitable than others? What changes can you make? Are there new opportunities you can add to the mix? A great idea is to write what you think the answers to these questions are and then do the work to find the real answers.  Any gaps can highlight a blind spot in your strategy.

5. Review your pricing strategy

Knowing what to charge for your products and/or services can help you build a sustainable, profitable business. If you’re unsure where to start, calculate your hours as well as your hourly rate and service rates. Establish what it costs to offer and deliver your products to determine whether your prices are sufficient to not only cover all your costs, but to return a profit.

6. Perform a cash flow forecast

With cash flow ranking as the second highest pressure point for SMEs in the latest MYOB Business Monitor (http://myob.com.au/businessmonitor) report, there’s never been a better time to add a little cash flow know-how to your business toolbox. Cash flow forecasting is a gift that keeps on giving. It makes business life easier in many ways, enabling you to track your performance against predictions, map how it might fare during challenging economic times (or boom times) and even model the effects of a strategic shift.

7. Get your financial house in order

If your receipts, payments and credit card paperwork are in disarray, it’s time to embrace online accounting solutions. By using up to date software such as MYOB LiveAccounts (http://myob.com.au/myob/business/liveaccounts-easy-online...) or AccountRight Live (http://myob.com.au/business/products-1258090781431?gclid=...) you can get a comprehensive snapshot of your finances at your fingertips, 24/7, minimise stress and maximise peace of mind!

When the dust finally settles post-Christmas and after you eventually take that well-earned break, don’t forget to plan for the year ahead. Arrange a ‘health check’ of your business with a trusted advisor, such as your accountant, bookkeeper or other business advisor to start your new year’s success story.

For MYOB product information, research results, business tips, discussions, client service and more visit the MYOB Australia (http://myob.com.au/) website, or its The Pulse Blog (http://myob.com.au/blog), LinkedIn (http://linkedin.com/company/myob), Twitter (http://twitter.com/MYOB), Facebook (https://www.facebook.com/MYOBteam) and YouTube (http://youtube.com/user/MYOBAustralia).

-ends-

For further comment or other information please contact:


Kristy Sheppard
MYOB Public Relations & Corporate Affairs Manager
P: 02 9089 9068, M: 0407 450 860, E: kristy.sheppard@myob.com

About MYOB Australia
Established in 1991, MYOB is Australia’s largest business management solutions provider. It makes life easier for over 1.2 million businesses across Australia and New Zealand, and provides support via many client service channels including a network of over 20,000 accounting firms, bookkeepers and other consultants. MYOB’s solutions simplify accounting, payroll, tax, practice management, CRM, websites, job costing, inventory and more, for businesses of all shapes and sizes. It is committed to ongoing innovation, particularly in cloud computing solutions, and now spends more than AU$30 million annually on research and development. In 2013, MYOB expanded its offerings with the acquisition of accounting solutions provider BankLink. For more information, visit myob.com.au.

Media Contact
MYOB
***@myob.com
61290899071
End
Source:MYOB
Email:***@myob.com Email Verified
Tags:Christmas Tips, SME christmas tips, Sales Tips
Industry:Accounting, Business
Location:Sydney - New South Wales - Australia
Account Email Address Verified     Account Phone Number Verified     Disclaimer     Report Abuse
MYOB Australia News
Trending
Most Viewed
Daily News



Like PRLog?
9K2K1K
Click to Share