Most of us in this industry earn our income based on the gross profit margins of each sale we make and the percentage of that gross profit dollar margin we keep. The problem with our industry is the hyper focus on this percentage commission split and the lack of focus on increasing the total gross profit dollars. And yet it’s focus on the total gross profit dollar volume that will increase your personal income.
And just how do you go about increasing the total gross profit dollar volume on your own sales?
Here are the top 10 ways I focus on Increasing my Total Gross Profit Dollar Volume …
1. I push the products from my preferred suppliers that give me EQP or better.
2. I upsell on every order that I can.
3. I build relationships with outside sales reps of preferred suppliers I work with.
4. I push quarterly specials and clearance deals that add value to my client relationships and give me better gross profit margins.
5. I let others handle the admin/back office work so I can focus 100% of my time on building client relationships and sales.
6. I negotiate with suppliers for larger orders ($5K+ NET cost deals)
7. I have Gross Profit Dollars as my daily/weekly/monthly/yearly goal and I post it at my office, over my desk, so I remember what I am focusing on.
8. I position myself as an expert in the industries I sell to … playing less of the price game and allowing me to execute on #1.
9. I cross sell by asking my client if other buyers in their company want to get in on the order and save money.
10. I try to sell “necessity” products to my clients – e.g. uniforms, name tags and products that are a part of their supply chain (vs those used for marketing/recruiting/etc).
Thanks for taking the time to read this coaching point. Ping me if you would like a complimentary coaching session to discuss how we can increase your total gross profit sales volume. You can also contact me at firstname.lastname@example.org to learn more about the benefits of The Swag Coach® Program.