Average Transaction Value: This will generally follow the sales cycle. If a cross sell or upsell is integrated into the sales process, results could be seen within the typical sales cycle. “Would you like fries with that?” could have an impact the day it is implemented. It is possible the implemented changes could pay dividends in a shorter period than the sales cycle as prospects would be at various stages in the decision making process.
Here are some strategies to implement to improve your Average sale value:
- Increase your prices
- Up sell, cross sell and down sell
- Use checklists in your sale process – make sure your customers are aware of the options available.
- Train your team and use sale scripts
- Educate your customers on value, not price
Now go back and review your plans for a fast start to 2013 (or if you haven’t done one yet, do it NOW). Note what actions need to be taken right now. If your business has a sales cycle measured in months, there is no time like the present to be taking ACTION to impact the first quarter. Remember that a 1% improvement each week equates to a 67% improvement in a year.