How Business Unit Managers Steal Market Share And Beat Competitors Before They Discover The News

You know that as a business unit manager, you need to drive market share for business unit products. The key is to increase and to measure it so you know how far you’ve traveled.

Let’s look at how the business unit manager manages the marketing plan. Successful marketing plans include these important parts:

  1. Aggressive and measurable to increase business leads
  2. Improve the business sales closing ratio
  3. Increase the average spend by transaction and 
  4. Increase the transactions from customers
blog about how business unit managers steal market share and beat competitors before they discover the news

Let’s discuss the approach. For the plan to be measurable, we need to set targets for each month and each marketing channel (e.g., yellow page advertisements or webinars). We then check each week if we are moving towards the result. If we don’t we need to adjust the methods to get there. Next, we need to convert the leads into new customers; same as increasing the sales closing ratio. It’s necessary to set up a method to measure monthly revenue, gross margin, fixed costs, rolling cash position and finally net balance sheet items such as cash in or out, investments and debt repayments. For converting more leads to sales, one can use methods such as more product demonstrations, positioning in niche markets, following up with potential prospects and offering a longer guarantee period. It’s also important to look at the compelling reason people do business with you instead of competitors. This unique selling proposal could distinguish on better value, information, technology, cost or various other reasons. 

For the selling proposal to be unique, one needs to research, track the trends and imagine the future. The business unit manager has to find out how his business liquidity ratios and profitability ratios compare with the industry in his location. These steps when joined by special sales training will do the trick. Now that we have added new customers, we need to work on increasing the number of transactions. For more transactions by customer, one could use:

  1. Newsletters offering bundled products
  2. Outstanding service 
  3. Spending more time with customers 

The business unit manager has to find out how his business liquidity ratios and profitability ratios compare with the industry in his location.

When the business unit manager uses the right steps and measures them to increase market share, the only way for it to go is up. While he keeps moving the needle on performance and market share, the business builds momentum.

Written by Suresh Iyengar, P.E., President, Business Unit Execution LLC––“Explosive Business Coaching Houston Results For Small Business”. Want even faster results? Are you ready to learn? Call 281.410.5375 and speak to your Profitability Coach Houston today!

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