Superior Sales: New Strategies at Your Fingertips
I’m an aggressive salesman and usually the first one to try different marketing and sales strategies to gain new customers, retain profitable customers and drive sales. But when I find something that works, I will use it over and over again. Along the way, I’ll also tweak those processes to improve them.
GM seems to follow the same strategy. In the summer of 2005, the manufacturer found its sales and profits decreasing. Most of the country was in an economic downturn, so GM decided it needed to be more aggressive to attract customers. The company created a program that sold a vehicle to anybody at the price a GM employee would pay. It was reported that the move boosted GM sales 20 to 30 percent.
Fast-forward three years and GM once again finds itself in a market slump. Sales and profits are down. So they have revived employee pricing. I am sure the company’s thinking is, “If it worked once, it will work again.” A strategy like that helps drive sales and traffic, but it does eat into profits. All the more reason to tweak your promotions for maximum results. By the way, the idea for the employee pricing grew out of an employee’s suggestion.