Chinese Government Committed to Improving Manufacturing Practices

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Maxim Group Companies vice president Zvi Sperling has been working in the lighting industry for over three decades. Zvi Sperling is in charge of sales and finance for the Maxim Group but also has other far-reaching responsibilities in the organization, including coordination with Chinese manufacturers for well-known brands.

“Made in China 2025” is a series of reforms and investment strategies designed to place China in a position to match and eventually surpass the technological capacity of the world’s top manufacturers. The plan is not without its shortcomings, however, since long-established government subsidies and inadequate quality and pollution standards are hurting the Chinese by stunting the growth of small businesses and curtailing innovation.

At this rate, university studies estimate that China will take around 35 years to become the manufacturing superpower it aspires to be. Still, China remains a solid option for the manufacture of many popular brands, and China’s manufacturing quality is steadily improving.

Three Low-Cost Ways to Increase Sales

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Zvi Sperling, the executive vice president of Maxim Lighting and the vice president of Maxim Group Companies, handles finance and sales for the business. Over four decades, Zvi Sperling has helped Maxim Group Companies increase sales around the globe.

Regardless of the industry or the business plan you have in place, increasing sales is essential to improving your bottom line. Here are a few low-cost ideas to boost your company’s sales:

- Analyze existing customers’ behavior. Your current customers are some of the greatest assets you have. It’s less expensive to sell to an existing customer than to bring in a new customer. Throughout the year, make a point of analyzing your customers to see if they are struggling with any aspect of your product. Further, consider changing your approach to customer retention so it focuses more on personalized service and creates a positive shopping experience.

- Establish a referral system. Setting up a referral system won’t cost you much money or time, but it can dramatically increase your sales. A referral system relies on word of mouth to drive sales and encourages current customers to share their positive experiences with friends, family members, and others. In return for bringing in new business, current customers receive free monthly services, products, or a simple thank-you card.

- Drive traffic with social media. When they were created, most social media sites simply fostered communication among users. Today, social media has expanded to become a marketing platform. Using social media for marketing gives you an effective way to reach new customers without spending a large sum of money.