Strategic Selling For Profitability
Let’s face the facts. Selling has changed dramatically since the Recession of 2008. People have less time, do not want to see sales people, and have access to more information than ever before. Some accounts will never be good ones because their interests in buying are so different from yours in selling. Possibly there is a poor fit, different operating styles or other business inconsistencies. Whatever the cause, the buyer and seller should not do business. Too often your sales people want to sell anyone at any price. Unfortunately, salespeople waste a tremendous amount of time and effort trying to sell accounts that will never buy, or if they do, will never be profitable. “More of the same” won’t take you or them to where you need to go. You must implement strategic selling strategies.
As Sales Managers, you must have your sales force identify profitable opportunities and customers. The old “traditional” salesforce and sales approach is generally not up to the challenge. New approaches to profitably sell and manage accounts is critical. Look at the “old” and new approaches; Ask yourself, “Where is my organization?”
1. Get new accounts At Any Cost
2. Get the order Be A Vendor
3. Cut Price Become A Commodity
4. Manage accounts the same Make My Job Easy
5. Sell to anyone Qualifying Takes Work
Necessary New Sales Approaches
1. Retain existing accounts; get profitable new accounts
2. Become the Preferred Supplier Business Partner
3. Price For Profit Value Orientation
4. Manage each account individually for maximum long term profitability (Understand Cost and their implications)
5. Concentrate on High Potential/Higher Profit Accounts
The challenge for us as Sales Managers is to not only make the Sales Plan but also direct our salespeople strategically. It is our job to grow the business through our people. In reality we must focus on developing clients by directing our salespeople to build, manage and protect long-term business relationships.