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Your company's profitability underpins customers' success with your products and services

Why strong gross margins and profits for your company are also good for your customers - Monday 2 October

Hello Subscriber,

I hope you’ve had a great weekend!

All this week, these emails will be about key aspects of Commercial Awareness.

Everybody in sales roles needs the highest possible levels of commercial awareness to underpin their sales success. Today, we’ll look at the central role of strong profitability.

I’m sure you already know that profit is the amount of money a business earns after deducting all its expenses and costs from its total revenue or income.

It's no secret that profits are essential for any business. But how much thought have you given to how your company’s profit benefits your customers as well?

If your company is highly profitable, why is this good news for your customers?

When young people start their sales career, they may think that profit is exclusively about business owners taking lots of money out of the business for their own benefit. Strong profits mean an even more luxurious life for business owners!

The reality is that in the best-run businesses, the large majority of profits are reinvested to make the business better. It’s typically a much better decision to reinvest profit to grow the business rather than take the profit out of the business.

Profitable companies are able to invest in all of the things that will help their customers better. This means investing in better products and services, better systems and processes, and more people and resources for providing support.

And this is all great news for your customers!

As a salesperson, what can you do to influence your company’s profitability?

As we keep on saying at Sales Reset, your customers’ success starts with how you sell. A key element of ensuring your customers’ success with your products and services is ensuring sufficient profitability.

Here is one very practical suggestion for today.

Remember the need for strong profits! - In every conversation with each customer today, remember your role in maintaining the level of profit that will enable your company to deliver the success this customer needs.

Here’s a prime example of when it will be good to remember about profit. How many customers ask for discounted prices?

Almost everybody!

And a lot of salespeople want to “help their customers” by offering some sort of deal. But as we’ve seen, if we undermine profitability by discounting, we’re putting our future customers’ success at risk.

Tomorrow, we’ll look at how to focus on value and not price as a key way of responding to customers’ inevitably wanting the best deal.

Here’s one area of practice to emphasise today

In every conversation with each customer today, remember your role in maintaining the level of profit that will enable your company to deliver the success this customer needs.

Coaching Focus

  1. Review recent conversations where you have asked your sales manager to approve additional discounts “to help out a particular customer”.

  2. Role-play conversations where you can refocus customers on the value they will gain from investing in your products and services.

If you have questions or comments, it would be great to hear from you. Just hit reply and send me an email.

Have a great day!

Founder & Leader

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