Don’t Boil the Ocean

Focus on the market that needs what you sell. Period. Many times, we see companies that have lists of thousands of contacts in a database. The owner or sales reps are calling all of them with no specific order or prioritization. Do you attend trade shows? Are you following up diligently with the contacts you’ve made at these shows? This would count as a priority because you’ve already made initial contact with these prospects and likely spent considerable funds to do so!

Create a smaller list of companies that you dream of having as customers and do what it takes to earn their business. Make a list of 10, not 100, and focus intently on them. Get to know them and make recommendations that help them. In a word, prioritize. In two words, prioritize and focus.

Be Part of the Team

How often do you personally go on customer visits or participate in customer calls?  How comfortable are you that your sales reps understand your potential customer’s environment and the decision-making process of that customer? When was the last time you asked your team, “What do I need to do to support you? What can we do together to help you close this business?”

 “Productize” Your Offerings

So many companies have scrimped on marketing functions to support revenue growth strategies that their employees are making it up as they go along. In order to create clarity across the board, “productize” your offerings. Group your products into logical packages and prepare well thought out templates that are easily customized for any new opportunity. This will allow the market to self-select the desired deliverable so you can dramatically shorten sales cycles.

For example, a client of ours offers an online directory service of various industries. They also sell marketing services that support their clients’ efforts to reach the members listed in those directories. To shorten the sales cycle, they could productize their offerings by bundling a basic level of marketing services into a package for their core directory service. This way, their buyers can experience their services and help to establish a trusted relationship that can lead to upsells of other offerings.

When considering how to productize your offerings, it helps to give the packages or bundles you create a name to help users process what it entails. Using the example above, the “Membership Touch+ Program” helps potential buyers understand what values and benefits come with this program—a way to reach out to directory members, not just access them. Potential buyers may respond more favorably as they feel you’ve understood their needs and given them added value for their purchase.

Don’t Take No for an Answer

Rather than walk away from a potential sale, do more homework so you can call on them again when you are better informed. In the meantime, ask yourself these questions:

• Do I understand the challenges this potential customer faces every day?
• What do I know about the potential customer that can help them do their jobs better starting today?
•  How can I prove to the potential customer that we will not give up on their success?
• What do I need to do to earn their trust and their business?

Ask for their business after you've answered these questions, and only walk away if they say "no" a second time