Amazingly less than half of all supply contracts are won by the incumbent supplier.
My expert guest is Graham Ablett, Director at Strategic Proposals.
He shares his insights and ideas explaining why a pro-active sales approach to renewals is the answer to winning more of them.
Watch the insightful interview here
There are some businesses and sales people thriving at the moment. That is great for them. Yet, for many sales and revenues are down. Here are 7 lifelines coming back on board again.
This sales idea is aimed at the many agents, sales development representatives, account executives, sales people and account managers who need to re-focus their sales activities right now.
Here is a snap shot of what I have experienced and heard in the last few weeks:
Wearing my sales hat, I have been reflecting on how I have responded and should have responded to the massive changes taking place in my market right now.
As a result I compiled 7 lifeline tips you may find useful. I called them life lines because the are here to help sales careers survive and thrive again. These lifelines have started to work well for me, so perhaps some will work for you too.
1) Don’t panic
Panic leads to bad decision making. A poor decision now could have far reaching negative effects down the line. Instead, take your time, look at your previous results and numbers, and focus on the things you can influence rather than the ones outside your direct control.
2) Plan for tomorrow, deal with today
You have had sales success before and you will have it again. The future is bright. You are in sales because you are a born optimist. There are prospects and customers who need your expertise now and tomorrow. Start building a personal sales plan and do this imagining where you sales pipeline and results will be in the next month, in six months time, a year, 2 years, 5 years. Create your own vision of the future.
3) Stick with what you do best
Your core competencies have helped you creating a successful sales career. You have the skills, knowledge and attitudes for success. It may be tempting to throw it all up in the air and try something completely new. I recommend you don’t.
Avoid radical unproven sales techniques or magic prospecting tools. Instead, focus on existing clients and prospects fitting your style and target markets. It has worked well up to now. You will have to adapt, yet the core of your skill set is what got you here.
4) Stay in touch with existing customers
You have built a mutually beneficial relationship with your clients. Now you can learn from each other and support each other during these testing times. Call them, email or message them. Set up a video call and ask: ‘how are you? ‘ ‘What can I do supporting you and the business at this time? ‘ This is what account management is all about and what you are trained to do.
5) Build closer relationships with your best customers
They are your best customers and deserve your best endeavours and professionalism. Besides that, it is an investment for the future that will pay off. Loyalty is noticed.
Consider offering your key accounts complimentary services. Brainstorm ideas with them moving the business forward. If you can, get involved in customers’ projects/initiatives even if they are not directly related to your product or service.
6) Invest in smarter prospecting/networking for new customers
Soon we will all have to work harder and smarter to make up for lost sales and revenues. We need to be ready when things return to a new normal. And if you are not, you will be left behind. Just think how the ‘rep doing the milk round’ from yesterday, has now become the ‘virtual video rep’. Some changes are here to stay or are the start of a new trend. Be part of it.
I recommend you scan the market and learn about new and different methods to find and engage customers. Start increasing your social media activity, learn to pick and write about content your markets and customers will find useful/interesting. Build relationships first and sales will follow. Discover which technologies can take your prospecting to new levels.
7) Find new collaboration initiatives It never cease to amaze me how much we can learn from each other and become better sales people. The synergy between different industries and sales practices can create competitive advantage. I recommend you approach new contacts with ideas. Be open to new ideas from strangers approaching you. I have had four in the last week and am actively working on one today.
I hope you find some of these tips useful encouraging thought and perhaps action.
As your sales coach I can help you getting back on board right now. find out more
This 2 minute read helps Customer Success and Key Account Managers achieve their high growth sales targets. account activity and outcomes for 2020.
The prime role of the Key Account Manager is to grow and retain accounts.
It makes sense having a planned approach with key accounts especially if they are large and very important to your company’s success.
In addition to obvious numbers such as quote to order history and annual turnover, there are just six fundamental questions for each key account relationship to answer. Having the answers will help to improve sales, retain the customer and deliver great service.It will deliver the account strategy for 2020.
Here are the 6 questions:
1. Current Relationship:
What is our current position with this customer?
For example:
Do we get all the orders we could get from them? If not, why not?
How does the customer see us? A partner, a fall-back supplier, expensive, fabulous?
How would you describe the key challenges we face in developing and managing the relationship?
2. Customer Agenda:
What is the customer’s agenda of essential goals and priorities?
Like your own company, they will have a monthly, annual or even longer plan. If we have good knowledge about this plan, we should be able to gain more business from them. We should help the customer achieve their plans. Some customers would be very happy to share their plans or vision. It can often be found on the website or in brochures.
3. Our Aspirations
What are our aspirations for this customer relationship?
What should it look like in terms of turnover, product mix, order methods and relationship with key contacts? Numbers are good to state our timed, objectives, yet the quality of the relationship should also be articulated. Great account management includes sharing some of the aspirations with the customer. The larger a customer, the more they want a deep relationship.
4. Major Opportunities:
What are the most promising opportunities to deepen and grow this customer, given their goals and priorities?
This could be through products, service led, relationship based or projects the customer is hoping to win.
5. Key Relationships:
What senior relationships must be developed or deepened to capture the opportunities?
This should cover decision makers as well as influencers. It makes sense to matrix this with other people in in your company to ensure the key players in both organisation have a relationship with each other too.
6. Internal support:
What help do I need to achieve the plan?
What internal resources and people do you need to leverage to capture the best near-term opportunities and reach your ultimate aspirations for the relationship. This can include products, delivery mechanisms, bespoke pricing or even customer incentives like football tickets or other entertainment.
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Key account template
Below is a template you can use to complete the 2020 plan for one key account.
Account Name: 2020 Revenue/GP target:
Key Account Manager:
1. Describe the current relationship
2. What is the customer’s trying to achieve this year?
3. What are my plans with this account for the remainder of 2019:
4. What are the major opportunities I aim to achieve with this account:
5. Who are the key relationships that need developing for this account:
6. What support do I need to grow this account?
Good luck and if you want some idea on key account planning and how to achieve your 2020 targets, feel free to get in touch. gert.scholts@thebestsalescoach.co.uk
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