Solutions

Tools & Solutions—Vector Revenue.Engine™ 

The Goal: Sustaining double-digit revenue growth—here’s how, and what to focus on:

KEY REVENUE GROWTH DRIVERS

  1. Focusing on Pricing—i.e., customer profitability (CP), both to pass along higher input costs and to address low profit customers e.g., make each customer profitable (MECP) initiatives
  2. Innovating—New/improved products. “Build an on-going pipeline of new and improved products.” Drive new volume [use the engine!]
  3. Expanding in new geographies—use local sales forces to sell products tailored to the local markets…

AND, TO SURPASS THE BASELINE [FORECASTED] INDUSTRY GROWTH RATES

  • Introduce new products that enable customers to reduce costs
  • Use cost-to-serve data to more effectively negotiate price adjustments*
  • Improve sales messaging/training to effect across-the-board price adjustments
  • Sell existing products into new industry vertical
  • Expand international sales capabilities
  • Implement lower cost sales & service models to reach new customers
  • Identify/implement new processes to generate more highly qualified leads
  • Add impactful distributors and/or strategic partners

* Note: Always “adjust” prices, don’t “raise, or lower” prices! Scripting, wording, positioning, etc. is critical on this subject.

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