911 Situation: Just Had a Big Missby Jason McElhone
According to CNN Money, corporate America just experienced its worse quarter of economic results in seven years. As top and bottom line growth continue to slow, a June 2016 U.S. Bureau of Labor Statistics report shows that the number of new jobs created for the month of May came in at 38,000—well below consensus estimates of 165,000.
Margin compression, combined with rising healthcare and regulatory costs, has many organizations feeling the burn of a big miss.
Here is the question: What are you going to do about it?
Consider the 80/20 rule—a widely held concept that applies to almost every company in the technology, industrial, manufacturing, and automotive space. According to the rule, 20 percent of your A-list customers are responsible for generating up to 80 percent of your results.
How then do you address “the tail” (the bottom 80 percent of your customers)? The tail includes the small and mid-tier accounts with the largest margins. These accounts can actually help you get back on track after a slow start to a new year.
Do What You Do Best, and Outsource The Rest
MarketSource runs highly successful inside and field sales teams for large consumer electronics, IT, automotive, chemical, and telecom companies. In 2015, we generated more than $6 billion of incremental revenue growth for our clients. Our dedicated programs are designed to gain new customers and reactivate dormant accounts. MarketSource will align with your current infrastructure, and we have the speed and flexibility to ramp up or down in response to real-time demand.
This short video features Damon Joshua, Executive Director, Commercial Client Services for MarketSource. In it, Damon discusses several best practices that can help you recover from a challenging quarter.
By focusing on what you do best and outsourcing the rest, MarketSource can deliver a significant increase in market coverage while optimizing sales expense. The net result is a powerful, go-to market strategy that can help you compete in any marketplace. Contact us to learn more.