Market penetration is the ratio of services/products sold against the projected total estimate. Brands need to know their market penetration to have a sense of their estimated total market size and percentage of customers buying their services and products. Market penetration also refers to actions brands take to surpass competitors and control a large market share to become a market leader.
Steve Job’s quote “Great things in business are never done by one person; they’re done by a team of people” will no doubt inspire collaboration and teamwork for teams that want to succeed. Whether you’re a sales director or sales manager, you must tap into the incredible power of teamwork to increase job satisfaction, productivity, and individual performance. This article captures 5 practical ideas to help you motivate your team.
There are several ways to achieve your goals through B2B marketing. You can use these tactics to generate demand, generate leads or convert leads. For demand generation, the aim is highlighting the problem your target audience is experiencing and showing them a solution. For lead generation and conversion, you’re simply encouraging them to evaluate and purchase.
Account-based marketing (ABM) looks to focus B2B sales and marketing campaigns on target accounts within a specific market. It’s effectively a growth strategy that focuses on the collaboration between sales and marketing teams ostensibly to personalise the buying experience for high-value accounts that are mutually identified.
Having a successful appointment setting strategy coupled with engaging a reputable lead generation company guarantees you an increase in revenue and, of course, satisfied customers. In this appointment setting guide, we help you understand the basics of appointment setting, its importance in your business development efforts and the benefits of having an effective B2B appointment setting.
While some businesses employ outsourcing, others go for insourcing or a combination of both. Outsourcing is an excellent option if your business needs to take advantage of the consciousness and clarity of experts from a global pool of talent. Insourcing is a great option if you already have a rich pool of talent. As a business, you must examine the benefits of choosing either option before making that strategic decision.
With a clear unique selling point, you’re able to have a focused marketing strategy that will inform your branding, messaging, copywriting, and marketing decisions. At the very least, your unique selling proposition should answer a potential customer’s questions about why your brand and not the competition. An effective USP will not only increase conversions but also brand loyalty, growth, and sales that translate to a successful business.
A go-to-market strategy is a step-by-step plan that will help you coordinate your messaging, define your ideal customers, and position your new product for a successful launch or relaunch for an existing product. A GTM strategy will offer a unique and compelling value proposition to gain competitive advantage and enhance customer experience. A go-to-market strategy is an asset to businesses in the B2B space.
Outsourcing entails a company delegating an entire business function to an external organisation. Offshoring involves the relocation of part of your business operations or processes to an offshore location, usually another country. Both outsourcing and offshoring are effective strategies that you can tap to take advantage of their distinctive features to ramp up your revenue.
The cost of living crisis is currently at the forefront of people’s minds. Following its May 2022 Monetary Policy Report, the Bank of England forecast a sharp slowdown in UK growth in the latter part of 2022. This has led economists to talk of the UK economy going into recession at the end of the year. So, what can businesses do to survive a recession?
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