Can you as a SMEs compete with Corporate’s? Here is a Guide on how increase your sales, have life balance and make more profits.
The biggest difference between SMEs and Corporate’s is that they generally have more people to give more smarts to using their data and leverage that they have to enable them to increase sales.
Learning how to realistically harness your data will lead you to increase sales that can bring you in excellent profits. I state this with specific experience.
I have created and assisted many building industry related company, from SME to corporate’s. What I write here is a guide for SME’s based these companies actual experience. Now, I won’t name the companies how have been less successful, but I will later name the company, that I know is successfully harnessing their data and really making it work for them to increase sales, profits and managing their business better.
About 5 years ago, I met 2 companies that created outdoor verandas, pergolas – that style of item for home owners. Through their introduction I then did work for Bluescope Steel. All 3 companies had data and all 3 companies were looking at leveraging their data. So what did they do, that made one company really stand out from the others that was not a corporate.
With the corporate company, Bluescope steel, their marketing division had decided to create a loyalty program to get builders to purchase more products from them. They used their data to increase sales with a loyalty program. This loyalty program planned to give some nice bonuses to the builders that repeat purchased from them. So a smart idea, that had, marketing people, sales people and finally IT people involved in preparing this process. Finally they had administration that managed and maintained the idea. So a lot of staff and money for a simple idea to be implemented. Rather hard for the average SME to challenge – or is it?
This blog is really a guide for SME’s so the 2 SMEs I refer to are real live companies. I will refer to them as SME1 and SME2. SME1 eventually went out of business, SME2 is growing and getting stronger every day in every way, from Sales, Quality, and Service and of course profits. I will review the main data groups that they collect.
Increase Sales with Accounting Data.
Both SME’s in the case used MYOB Premier. Both SMEs had the ability to refer and look at their data via the MS Office tools. So what was different. SME1. Used MYOB to record and store accounts. SME2. Used MYOB to record and store accounts – plus made the accounts and interactive part of his sales process. For example, the accounts directly linked to his sales database, and showed when a person paid, amount paid, values, costs of sales. Plus, if this client was a good client – they used this data to consider “on selling” other options to this client, and to get further referrals from this client. The ability to harness accounting data is not limited to MYOB, in fact, this same function I have used with Xero, Sage, and Quick Books.
Increase Sales with Referral Data
Both SME’s asked for referrals when with a client. SME1, wrote this down in his note book and when and if he could, he has someone attempt to follow these up. SME2, really harnessed their data again, they turned every single prospect into a micro sales person. They did this by sending every single prospect their own Business card sized referral card. This card the client could then give to friends as well as suggest referrals that were immediately entered into their personalized CRM that the manager over viewed and watched. Making sure that people were contacted in a timely manner and the valuable referrals were followed whilst the lead was “Hot”.
Increase Sales with Trade Show Data
Both clients also had exhibitions at trade shows. Both collected data. SME2 had his office staff call the referrals post the trade show, and attempt to set up appointments. He hoped that they got appointments from most of these people, but he had no idea how many he got, how many appointments he got or even how long after the show that these people were contacted. He had no idea how many he lost. SME2 however, entered all his leads immediately via his IPad, had his office staff contact them within a 48 hour period, and had sales people out to communicate. He made sure quotes were timely, and costed correctly. He had procedures and standards for every step of the way, and his reporting told him exactly which sales people were succeeding or not, and to make sure that he got the most out of his sales leads.
Increase Sales with Rectification Process (Complaints)
We all have them. The way we handle these situations shows the quality of the company. SME1 gave the manager the complaints to deal with directly. SME2, has a data based rectification process, that every call, review, call back, photos etc. is recorded. When this began there were a few cases to be cared for, however the open cases at my last check were zero, and it seemed that each case that was raised was less in quantity and less in time to resolution. Having a clear process that could be tracked was definitely working for SME2, plus it seemed from report review, quite a few referrals came out of the clients that did have a complaint that was quickly and appropriately resolved.
Increase Sales with Phone Data
SME1 had gone out of business before he could cost effectively consider using this technology. SME2 however had grown and now automatically integrates the phone call in data. So if the phone rings, the database immediately opens up that phone numbers client information. This is increasing their efficiency, personal service and giving the client a much better service than previously. Plus the manager now knows of all phone numbers of new prospects so sales and leads can’t be lost.
What’s new for SME2?
Well SME2 is discussing other tools that will harness their data. Only a week ago, we discussed more mobile version of data access to assist with QA, servicing, staged photos etc. The tool we reviewed was CRM-Map.com, as this is a google maps database interface tool that allows the storage of files and photos and is not operating system dependent.
So as you can see, SME2 really did harness their data to increase sales. SME1 has since closed his doors. So you are probably wanting to know who the SME2 is – the company I have discussed here is Utter Gutters.
Utter Gutters is a fabulous SA based company, with fantastic caring, diligent staff. The management and growth of this company that I have been able to actively watch and participate in a small way as Accede Holdings Pty Ltd. The instigator of this growth, is not myself, but the owner of Utter Gutters. I have been privileged to be a part of the team that has acted on his initiative, and been able to watch as he led his company to increase sales by harnessing their data.