Ed's AV Handbook.com
Home Theater & High Fidelity Stereo Audio


Chapter Ten
AV Business & Marketing

Page 4

Batting practice for the audio/video pro and a primer for the novice 



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The micro audit
          This is a statistical examination of the fundamentals that drive the P&L and the Balance Sheet.  This stat data includes the number of executed promotions, the number of leads generated, presentations made, closes, $ales, plus your batting average and dollars per close.

A 'to-do-list'
with stat counts

          Initiate this stat exam with assistance of
a daily to-do-list that includes:
   a. People to call.
   b. Projects to address.
          Prioritize the list.  Begin with the first item and continue until completed.  Use the list as a scratch pad for names, phone numbers, etc.  
But for the objectives of the 'micro exam',  add the following five statistical abbreviations at the bottom of the list.
  1. P   =   Promotions completed (customer phone calls emails & letters, advertising, events, etc.)
  2. L   =   Leads produced    
  3. Pr =    Presentations made  
  4. C   =   Closed sale  
  5. $   =   Sales amount    
         Keep a count of each stat with simple pencil marks.  Run an ad make a mark under 'P'. Make a phone call, make a mark under 'P'.  Send a thank you letter, make a mark under 'P'. Get a lead, make a mark under 'L'.  Make a presentation, make a mark under 'Pr'.  Close a sale, make a mark under 'C' and note the $ale amount under $.
         Tally each stat count weekly, monthly, quarterly, annually.  In addition calculate and add the following two stats to the tally:

  1. Batting Average  (closes presentations)
  2. Dollars per Close  ($ales closes)
Stat charts
          Convert the now 7 stat results to points on a line chart -- one chart for each stat.  
Over several periods the 7 charts develop into 7 dashboards that illustrates each stat's
history and condition.  A chart’s slope or direction is also a predictor of that stats future.
    
  1. Promotion - its direction predicts leads.
  2. Leads - their direction predicts presentations.
  3. Presentations - their direction predicts opportunities to close.
  4. Batting Average - its direction predicts closes.
  5. Closes - their direction predicts sales.
  6. Dollars per Close - its direction predicts sales productivity
  7. Sales - its direction predicts the direction of the P&L and the Balance Sheet.
Chart prescriptions
The following are prescribed plans of action for
a chart's direction.

1. If a Chart's direction is at a steep skyward inclination,
    Then keep doing what you’re doing.

    Do not change anything.
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2. If a Chart’s direction is less than skyward but still upward
,
    Then look at the tactical areas that affect that chart.
    Keep doing what works and do more of that.
    Do not make any drastic changes.


3. If a Chart’s direction is flat,

    Then look at the tactical areas that affect that chart.
    Do more of what works
    Eliminate what does not work.
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4. If a charts direction has a downward slope,

    Then reevaluate each tactical area of the market plan that affects that stat.
    It may be time to change tactics.
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5. If the direction of a Chart is dropping as a dive-bomber,

    Then parachute out and reassess the marketing plan.
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Ed's AV Handbook.com
Batting Practice for the AV Pro and a Primer for the Novice.
Copyright 2007 Tux1-598-288   Revised 2018