When companies think about profitable niches, they typically think of selling a “hot, new product.” For the same investment, most companies could squeeze more profit out of their existing product line. By purposefully starving their least profitable products of resources to focus exclusively on the highest margin products, companies can dramatically improve their bottom line without having to add salespeople or find new customers. Put simply, identify the 20-50% of your product line that must “sell itself” and incentivize your sales force to concentrate on the remaining high margin products!
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