Common Sense Prospecting, Selling & Business Building “tips” in This Economy

Common Sense Prospecting, Selling & Business Building “tips” in This Economy 

In a booming market, sales people have a tendency to chase the “easy” deals. They shy away from and won’t chase the tough stuff. In a tougher market, the successful sales people must do the tougher stuff and realize that today in 2017 in a less certain economy…customers want to avoid RISK…the greatest risk they see is “over-spending.” They will push harder for discounts & concessions…and “delay” making decisions to avoid “risk.”

Suggested exercise:

List: “What are all the risks in doing business with you/your company…and/or “changing” suppliers/vendors?”)
Be prepared—have your “reasons” to “neutralize these in advance to ELIMINATE them.”

Practical Preparation:

YOUR SALES PEOPLE: must be TOUGH and do the tougher stuff.

Here is a partial list to focus on & IMPLEMENT.

  • Call HIGH at decision maker levels —what issues do they face/are they concerned with
  • Up-sell and Cross sell existing accounts—almost every product has a “complimentary/companion” product or service. Just ask for the add on.
  • Ask for referrals/introductions on a consistent basis. “Everybody takes you someplace else.” (If you don’t ask…you don’t get!)
  • Contact “dormant” accounts as if they are new “leads” …determine which ones are “live” and redeemable. You may have to “start over” …as people change; situations change; needs change; locations change.
  • Get a larger % of existing customers “spend” (TRAPPED POTENTIAL—“Share of Wallet”) what else are they buying & from whom? Why? Why not you…what can we do?
  • Does the customer know all the products or services your company can help them with? (YOU MUST KNOW THIS)
  • Sell incrementally…deal with customers unwilling to make BIG decisions today= get them out of that mindset= sell smaller amounts or deals…. break it into pieces= it doesn’t seem as costly, AND it’s an easier decision…perhaps with even less required approvals…to get you started!
  • Participate in associations; networking, events, trade shows…with a purpose/goal for each event.
  • In new accounts…earn the business and “right to return” and build a relationship…don’t go for 100%…go for a smaller % and the opportunity to earn the rest and earn their TRUST.
  • With so many companies (and bad sales people) “selling on price” …something is bound to suffer at the customer level. Those consistent “price cutters” who “DISCOUNT” TO SURVIVE…. EVENTUALLY CUT “SERVICE” AND SERVICE PEOPLE. THE SUPER PRICE CUTTERS WILL NOT SURVIVE!
  • Sell value…. Now is the best time to sell VALUE. If your product or service saves them money, adds revenue or helps customers increase productivity or other positive outcomes…now is the time to differentiate it.
  • Add Value…prevent losing customers by adding value to the way you service them. Bring something to them that help them be more effective, more productive, or more successful.
  • If you are doing a good job with a large customer & they are satisfied with your company’s performance…. Ask for referrals/introductions to counter-parts with internal departments/locations.

If your entire sales team is not executing these tips – contact us.

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