A company’s internal business processes can be turned into sales. There are a number of different approaches that organizations can use to turn this hidden capability into additional sales with minimal additional investment.
One of our clients developed an internal software quality system. They recognized that some of their customers needed to create or improve similar systems and procedures. This led to the development of a consulting practice that now generates additional sales from existing customers and new sales from prospects.
Increasingly, we are exchanging information with customers and suppliers. For years, purchase orders, invoices, and payments have been transmitted electronically between companies. Banks provide online banking applications which link credit cards, payroll direct deposit, cash management, and a host of other services making it easier to manage the banking relationship. As customers take advantage of multiple services, more revenue is generated for the bank.
Smaller businesses are finding ways to enhance the services they provide customers to augment the products they sell. Files and other information are shared using email attachments, virtual file sharing tools like Google Docs and Dropbox, and other techniques. Information sharing provides the “stickiness” that builds relationships. The more usable information you provide to your customers, the more valuable your relationship becomes. The more comprehensive the relationship, the less pricing is a major factor. It also becomes more difficult and expensive for the customer to find a replacement.
The easier your company is to work with, the more organizations are going to want to do business with you. It is almost always less expensive to keep a customer that find a new one.
When was the last time you reviewed the way you interface with your customers? To start the conversation, ask your company leadership team and other staff who talk to customers the following questions:
- What business processes touch our customers?
- Can we improve any of them to make it easier to do business with us?
- Could we use any of these to provide more information to our customers?
- Could any of these processes generate more sales?
Based upon the answers to these questions, new ideas may surface which could lead to the creation of new products or services.
You can generate sales from your business processes. Do you have the time or staff to accomplish this? We can identify which can potentially generate revenue and help you turn this hidden capability into a new product or service. For more information, contact us.