Kim Peterson Stone, CEO CommonSenseHealth.org
Here’s a little gem that unfolded recently with a (soon to be former … clients can be fired too) client which offers a profound lesson in how NOT to do things.
My company was hired to provide marketing services and sales generation. To date we’ve increased gross sales 35+% over prior year for this organization.
Time to hit it hard in 4th quarter in order to start the new year strong.
YAY!!! Go Team!!!
Here’s what went down.
Negotiates reduced pricing with supplier X with the intention of moving towards better overall pricing in 2018, increasing sales along with margin
Puts together and promotes special pricing offer campaigns for clients
Clients love it, sales increase
Does not use monies generated from promotion to pay supplier X
Chooses to purchase competing product at a higher price because she has terms with supplier Y and not with supplier X
Racks up bill with supplier Y
Arbitrarily spends cash generated from deal struck with supplier X
Does not meet lower price tier objectives
Creates cash flow crunch
Squashes future up sales coming from clients who took part in promotion
Too many more bad juju items to list
Solution presented from business owner?
Let’s do more marketing !!
Communication, understanding and getting buy in to overall objectives is so key to actually accomplishing healthy business growth and development.
When the company mission statements are “fly by the seat of your pants” and “who gives a rip” you can have the most stellar sales acquisition strategy and execution but it will not result in long term success.
Customer experience, customer retention and employee and partner respect and appreciation are all a big part of the equation.
Here’s to the raising of standards.
“Management is doing things right; leadership is doing the right things.” - Peter Drucker
Kim Peterson Stone is the Founder and CEO of CommonSenseHealth.org. Since 2009, CSH has been helping clients to establish an online presence and grow their businesses and increase sales using social media and online marketing.
Kim has built a network of 170,000 + highly engaged subscribers and fans, for herself and hundreds of thousands more for clients.
She speaks, consults and trains on Inspired Leadership and How to Build Quality Business Relationships and Acquire New Clients Through LinkedIn and Social Media.
To inquire about booking Kim for consulting or appear at your next conference or event, please click here and to learn more about how you can improve your presence online, increase customer acquisition and build your brand, click here.
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