Friday, 25 September 2009

Growing Your Business In Tough Economic Times

By Stan Field

Tough economic times causes anyone to look more closely at the bottom line and how any resources can be changed to improve profits. An outbound prospecting company can be one such resource. This article will explain why you will want to look at a prospecting company to gain more sales at a lower cost.

Tough economic times makes you want to keep your staff as productive as possible. With sales, the key is to focus upon what you are good at doing. If you are more successful at closing sales, using a prospecting company will allow you more opportunities to close business, thus lowering your cost per client.

Sales are dependent upon the communication of your message to prospects and this occurs through marketing. In this business climate, it is about maximizing your marketing dollars and a prospecting firm is one of the most efficient uses of those dollars to increase sales.

Many companies do not watch their advertising dollars very carefully. Using an outbound telemarketing company can allow you to closely track your return on investment and often is more cost effective than expensive television advertising campaigns.

One of the first areas of spending any business cuts during a recession is marketing. If you have to cut your marketing spending, you can reallocate dollars to outbound telemarketing and increase your sales at a lower cost to your marketing dollars.

Most people are not interested in telemarketing and put this activity off. This reduces the sales pipeline and increases the costs to find new clients.

Many customer driven salespeople do not have time to find new clients because most of their time is spent in current sales processes and do not have finely honed prospecting skills. Using a prospecting firm allows you to have people whose primary focus is new business focus on finding new clients.

Companies try to reduce all expenditures during a recession simply to maintain their current business. This offers you the opportunity to build your business by using a prospecting company because few of your competitors will be attempting to acquire new business.

McGraw-Hill did a study to compare maintaining marketing activities and dollars versus reducing them during a recession. They found that those who maintained and increased this dollar amount enjoyed a 275% increase the first year after a recession and this is a spectacular argument why to spend money on outbound telemarketing firms.

Many firms have layoffs during a a down economy and pare down their spending. If you find that you are in a similar boat and do layoffs, you can continue to increase sales with less staff by using an outbound telemarketing company. A recession will cause you to look at the bottom line very closely. Watching how much it costs to gain a new client is one such way to grow sales and one way to grow sales in a cost-effective manner is through using an outbound prospecting firm.

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