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If you have been reading the news headlines, many CEOs are focused on cutting costs and laying off employees. This does help short term profitability, however these actions are precisely the wrong strategy to take if you want to grow your company in a bad economy. CEOs who want to increase sales, profit margins and drive new business growth in 2009 should consider the following top 5 business growth success secrets. 1. Focus Marketing Dollars on Value Not Brand Focusing your time and money on Brand marketing may increase name recognition however it doesnt generate revenue. Showing customers what value your product or service provides will generate top line sales revenue. Spend more on marketing campaigns where the customer can experience your products value. 2. Stop Scaring Your New Prospects Away Most corporate marketing campaigns, websites, sales collateral and sales processes scare customers away. From a customers point of view, your company looks and sounds just like your competitors. To be perceived differently and attract new customers you must stop focusing on your product features, functions, quality, customer service and company awards. You should focus more on how you solve your customers business problems. 3. Catch Amnesia Forget how great you and your business performed last year. The past is the past. This year its a new game. The rules have changed and the players are different. What worked last year, will not return the same results. Re-evaluate your industry, competition, marketing strategy, sales strategy and financial management. Implement proven best practice business growth strategies. 4. Keep Score Measure and monitor your key business growth indicators weekly. How do you know where to improve if you dont know how youre performing. For example, what is your customer conversion ratio, tradeshow ROI, closing ratio, marketing ROI, advertising ROI, sales cycle times, new prospect calls per week, deal size by industry, profit by product line, etc. 5. Work On Your Business, Not In It CEOs need to pull themselves out of the day to day issues. When times get tough, CEOs spend more time in the details of the business. By doing this, CEOs lose sight of what is most important, focusing on how to improve business performance in a changing competitive environment. Delegate or hire outside expertise to handle the day to day challenges. Focus more on strategic priorities. Dennis Sommer is the founder and CEO of Executive Business Advisers, a management consulting firm specializing in business growth, sales and profit improvement http://www.executivebusinessadvisers.com . Dennis helps CEOs increase sales revenue, reduce sales and marketing costs, improve marketing ROI, and drive new business growth by improving and optimizing their sales, marketing, company strategy and financial health. Dennis is a highly sought after business keynote and seminar speaker http://www.dennissommer.com and author of several highly popular sales, marketing, leadership and professional development international articles and books http://www.advisersecrets.com . Contact Dennis at 800-627-6512.
Article Source: http://www.BharatBhasha.com Article Url: http://www.bharatbhasha.com/management.php/112415 Article Added on Wednesday, January 7, 2009 LD
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