Money Talk: Do You Have a Strategy for Growing Market Share?

All printers are all confronted with customers who are buying less and want lower prices. If they are a critical customer in terms of overall profitability, many times it forces action to adjust pricing to keep the customers. No one wants to create an opening for a competitor. For all customers, ask if you are getting 100 per cent of their work. It’s a fair question. If so, devise a plan to keep it. If not, devise a plan to get more. Understanding the customer’s strategy will always present ways to create more work. Every business action can be enhanced with stronger communication.

In summary, there are numerous tools to help you grow market share. They all start with a strategic sales plan and the buy-in of your organization, with clear and concise goals and objectives, followed by clear communication, and well measured and reported results. These steps are the critical tools of any successful market share growth goal.