Solidify Your Client Base
I have worked with dozens of companies over the past several years and have been surprised at how many concentrate more on client acquisition than they do on client retention. Sales managers often make the mistake of focusing their team on acquiring new accounts (cold calling) rather than nurturing their existing accounts.
While cold calling (new business development, client acquisition, prospecting) certainly has its place, giving it paramount importance over growing your current client base may not be prudent over the long haul.
In the high-stakes nature of sales, first impressions are everything. And nothing feels — or looks — worse than slipping up when it matters most.
I recently attended a meeting that went terribly wrong, and this hard truth sank in. The sales team had sent executives at the prospective company 10 iPads preloaded with the sales presentation in hopes of wowing them at the meeting and gaining an edge on the competition.
No matter how clever the marketing program, how creative the advertising, or how friendly the customer service reps, if you mishandle the sales call, everything else is a waste.
The sales call is the most critical point in your sales and marketing system and the ultimate test of your marketing program — It’s the point where all your work comes together and you either succeed or fail.
Mishandle the sales call and you may lose a customer for years. Handle it correctly and you’ll take the first step toward a lifetime relationship.
This tip rubs a lot of people the wrong way, especially managers, but I’m a firm believer in it. I know I will have more success if I have fewer prospects whom I can really focus on rather than a bunch of names I don’t have time to deal with.
To get to this point it means you must have a prospecting process that allows you to qualify quickly whether or not the prospect is really a prospect or if they’re nothing but a suspect.
Way too much time is spent by salespeople chasing suspects. Many times the suspects are nice people — they will engage you, the salesperson, so you think they must be a potential customer. You should never forget the first objective of prospecting is to qualify the prospect.
I recently spent a day on the golf course with my son-in-law. He and our daughter were visiting from North Carolina, and the sun was bright and the temperatures mild for a midwinter day in southern Mississippi. It was the first time I’d picked up a golf club since late October, so I knew I’d have to scrape a little rust off my game.
If you are a sales manager who wants to continue to develop your team and grow your business, there are questions you should be asking yourself.
They are simple questions but have far-reaching implications for how well you are preparing your sales force for the ever-increasing competition for the products / services you sell.
Value selling training experts suggest you take the quiz below to measure your sales success potential:
1. Do you make it easy for your customers to buy? Check to see that your sales process does not present barriers that make it confusing or complicated for your clients.
To save my fingers from early onset of arthritis, let’s shorten the term from Key Account Management to KAM. I understand that it doesn’t sound great, but I need my fingers to blog with.
I often get asked to deliver Key Account Management training at Salestrong, and having done so for a number of organisations, I notice that companies have vastly different views on what KAM is. Some simply call their larger accounts, “Key Accounts”, whilst others have a well defined KAM program.
Did you know that top sales performers spend between 75% and 95% of their time on high-payoff or ‘worth-it’ actions? Low performers spend between 25% and 40% of their time on ‘worth-it’ actions, and don’t even notice that they are wasting their time.
They think they’re working hard, but produce little at the end of the day. If you are working hard but not selling much, there could be simple tweaks you can make to your system that could double your volume within three months.