I usually talk about how to maximize, improve, or maintain your margins. However, in this blog I am going to ignore margins and focus on top line.
This is not my typical blog topic, but one that is absolutely necessary if you are going to grow. Margin needs to be an area of complete and absolute focus, but not to the detriment of top line growth.
You can achieve margin through savings but in the end, it can still cost you your business if you are not growing.
So how do you grow?
Easy – sell more!
There, done; hope you enjoyed the blog. Just kidding.
I hope you caught the fact that I said sell more – not increase your prices. Your customers have been doing business with you for a multiple of reasons and pricing is one of them so DO NOT justify a price increase to grow your top line – it could kill your top line.
However, price is not the only reason your customers buy from you – your “secret sauce” is definitely a reason.
So, you have price, you have your secret sauce – any other reasons?
I can give you a bunch including:
- Ease of doing business
- Industry/specialty focus or
- Completeness of product line
- Partnering vision
- Product availability
I am sure you can think of more, but I believe I have made my point.
Every one of the reasons listed above can increase top line with existing customers, capture more of their business, as well as add new customers.
I would argue that a combination (if not all the reasons listed above) will not only increase your top line with more sales but at a point in time you will have a unique offering of service and value that will support a price increase that your customers will accept.
Then, you can apply margin protection concepts and you will achieve an amazing winning combination.
A plan to move forward is great, but you still need the tools to achieve it. Is your existing software system capable of helping you achieve your top line goals? Without a system that can intuitively manage your needs and allow you to extend and grow you will not be able to successfully grow and maintain your margins.
Advanced Supply Chain Software was built to meet the needs of companies that manage all aspects of their business and provides an intelligent and intuitive approach to business. Let’s connect so we can talk about your top line goals and how technology can help you crush them.