New sales simplified
Essential guide to prospecting and growth
Description
The truth is, if a company's sales team fails to acquire new business, the cause boils down to one of three issues: First, unclear targeting. Without a defined view of the right customers to pursue, marketing efforts flail. Value must align with customers' needs to compel buying.
Second, lack of effective sales tools. Salespeople need the proper weapons and skills to wield them. Access and proficiency drive results.
Third, insufficient action. "Sales" requires discipline, not passive intention. Performance requires monitoring and improvement through consistent execution.
Most struggling sales teams falter on multiple fronts. Still, establishing an effective new business program need not be complicated. With market clarity, strategic targeting, proficient teams, and meticulous execution, new sales simplify.
Table of contents
01Step 1 – identify your ideal customers
It's a common pitfall among many companies; they fail to define the type of customer they aim to attract. This oversight can be detrimental to the growth and success of a business. If you're looking to proactively expand your business rather than passively receive orders, it's crucial to create a clear vision of your ideal future customers. Identifying your target market is the first step in this process.
As business consultant Mike Weinberg points out, when pursuing new business, the key initial questions to ask are: ‘Where will this business originate?’ and ‘Who should I contact?’ To develop an effective sales strategy, determining our direction and targets is essential. That's why selecting targets comes first.
Too often, salespeople find themselves merely responding to leads generated from advertisements instead of proactively creating fresh opportunities. Similarly, some sales managers mistakenly believe their teams are contacting prime accounts, when in reality, they lack direction. To enhance sales performance, it's important to clearly define target accounts worth pursuing. This strategic decision determines where you invest your limited time - your most precious resource. It also offers an opportunity to break free from the daily routine and chart a new course.
To select worthwhile sales targets, consider the following questions: Who are our best current customers and why? What motivates new customers to buy from us or our competitors? Why have past customers left us? Who nearly became customers but didn’t? Why? Without clarity on these points, creating an effective prospect list is impossible. The answers to these questions help establish whether your sales pitch resonates with those most likely to become satisfied, long-term customers - your “dream clients.” If you can serve their needs exceptionally well, your sales are likely to increase.
02Step 2 – build your sales tools and resources
In the competitive world of sales, having a plethora of tools at your disposal such as social media, emails, and brochures is undoubtedly beneficial. However, none of these tools hold as much significance as your Sales Story.
This narrative is not just a tool; it's the foundation upon which your entire sales strategy is built. A compelling Sales Story does more than just communicate the value of your offerings; it sets you apart from the competition, captures the attention of your prospects, and positions you as the go-to expert for solving their problems.
To craft a Sales Story that resonates, it must first pass the "So what?" test, addressing three critical questions that are at the forefront of every prospect's mind.
The first question revolves around the critical business issues you address. It's essential to delve deep into the top frustrations, fears, and problems that your target customers face. By articulating these pain points, you establish a connection with your prospects, demonstrating your understanding of their challenges and your capability to alleviate them.
The second question pertains to what you sell. This part of your story should be concise, as it's often the least compelling aspect for your audience. A few well-crafted sentences should suffice to explain your offerings, allowing you to maintain the momentum of your narrative.
The third and perhaps most crucial question is why you are better than the alternatives. This is your opportunity to highlight the unique value you bring to the table. Share at least five reasons why your solution is superior, citing aspects such as technical expertise, proprietary methods, service guarantees, and the personal touch you offer.
03Step 3 – execute your sales strategy
To execute a sales plan, follow these steps:
1. Create a tactical blueprint. 2. Identify target markets. 3. Build a sales pipeline. 4. Integrate sales and marketing strategies to convert prospects into customers.
Develop your sales business plan:
Creating a personal sales plan for the upcoming quarter or year is a highly effective strategy for achieving marketing success. Successful individuals often commit their plans to writing, which helps in thinking from a broader perspective and setting clear, achievable goals. A comprehensive sales plan should include five essential components: sales goals, strategies, actions, obstacles, and personal development.
Starting with sales goals allows you to define what you aim to achieve, such as revenue targets, profit goals, the number of new accounts, personal income objectives, and specific product targets. Strategies outline the approach you'll take to meet these goals, whether it's expanding existing accounts, entering new regions, or increasing cross-selling. The actions section details the specific sales activities you'll undertake, including developing new business, delivering proposals, and scheduling face-to-face meetings. It's crucial to identify any obstacles that might impede your progress, as acknowledging these challenges upfront can help you navigate them more effectively. Lastly, focusing on personal development by listing books to read, seminars to attend, and mentors to connect with can significantly enhance your effectiveness.
Writing down your sales plan and sharing it with your team can foster accountability and alignment, ensuring everyone is working towards the same objectives. This practice not only allows for valuable feedback but also promotes a culture of collaboration and creative thinking, especially when new team members contribute fresh ideas. Sharing your sales plan can act as a safety check, potentially saving resources by identifying flaws early on. Ultimately, a well-crafted personal sales plan that is written down and shared with stakeholders significantly increases the likelihood of executing an effective strategy that delivers tangible results.
Use the best sales tool there is – the telephone:
When developing new business, it's crucial to not only rely on inbound marketing strategies like ads, search engines, and social media but also to proactively make calls to potential clients. This approach is about initiating a dialogue to understand their problems and offer solutions, aiming to set up a meeting. Mike Weinberg emphasizes the importance of having a clear goal for these calls, which is to secure an appointment based on the belief that there's value to add to the prospect's business.
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