hree actions to increase your organisation’s sales resilience: Discover the top strategies to position your business for success.
1. Invest in design
Research demonstrates that the best design companies increase revenues and shareholder returns at almost twice their industry counterparts.
For example, if your business is online, improving your homepage design can make a tremendous difference to your conversion rate. Consider these statistics:
● 96% of visitors arriving to your website are not ready to purchase.
● It takes only 50 milliseconds (0.05 seconds) for users to form an opinion about your website which determines whether they will stay or leave.
● A 1 second delay in your website speed can reduce conversions by 7%.
Since the majority of consumers (75%) make judgements on a website’s quality and hence a company’s credibility based on the website design, the landing page could be the key determining factor for your sales. If the homepage is difficult to navigate or cluttered, the user will go elsewhere. If the website copy does not show the value of the product or service, they’ll switch to a competitor. These simple changes can increase your revenues significantly and allow you to scale.
For example, Tandberg, a video conferencing company, improved the call-to-action on their homepage through A/B testing and keyword optimisation. This delivered 50 percent more leads in just one month. Similarly, product videos have been shown to increase sales of the product by 144%.
Finally, mobile optimisation is critical. According to Google, 61% of users are unlikely to return to a site if they had trouble accessing it and will visit a competitor’s site instead. 50% of online ecommerce revenue comes from mobile. But if your mobile website is not easy to use and designed well, your online business will not see revenue growth.
2. Invest in people and culture
The best businesses will recognise that a company is only as good as its people and that talent is the scarcest type of capital. Its development should be pursued just as rigorously as any other business strategy. The impact of employee engagement on revenue growth is well-documented, with businesses that have highly engaged employees seeing 26 percent higher revenue per employee than their industry counterparts.
The diagram below illustrates this relationship.
3. Use data
Data is not just a part of the decision-making process – it is the business. The best companies make data-driven decisions and redesign key processes to create new products and serve to improve customer and employee experiences.