One of the main reasons why salespeople fail in sales is their lack of attention to business development. Business development is integral to sales success yet many salespeople I have spoken to avoid or put minimal effort into prospecting activities. This in my opinion borders on sales call reluctance.
What is business development?
• Business development is about developing new business with both potential and existing clients
• A sale rarely happens on the first meeting. It requires multiple and varying touch points such as the phone, social media and email over a period of time
• Business development needs to be consistently implemented to maximize new sales opportunities and to create sales growth.
Creating new sales opportunities
The less you know about a potential client the more difficult it is to succeed in getting a meeting. Your targeted clients can be divided into:
• No Information – you know nothing about the organization and have no contacts
• Limited Information – you have some information about the organization but haven’t developed any contacts.
Strategies to connect with potential clients you have never contacted
• Use social media to gain information that you could use
• Phone direct once you have developed your value statement
• Use 6 degrees of separation – who knows who within your circle of influence who knows the potential client?
The ‘cold’ call
The term ‘cold’ has been used in sales for decades and conjures false thoughts and feelings. There is nothing cold about contacting a prospective client for the first time. It’s new but not cold so could I suggest you replace ‘cold’ with ‘new?’ Words impact on how we feel.
Words impact on how we feel
Salespeople often struggle and can become mentally immobilized when calling a potential client because:
• They put too much pressure on themselves to make the appointment
• They become self-centered instead of focusing on the client
• They become fearful of saying the wrong thing
• They have a push instead of a pull mindset
• They start selling when the client isn’t in the process of buying
• They use words and phrases commonly used by most salespeople
• They try to take short cuts.
Salespeople often start by talking about themselves and their company. For example, “The reason for calling is I’d like to set up an appointment to introduce myself and tell you about our new product/service”.
The attention needs to be on what is in it for the potential client. This is done by stating value from their perspective and can be measured. A value statement can be tangible and/or intangible that lets the potential client know what they can expect when using your product/service. Intangible value is not easy to measure, for example lower risk, sense of well-being and trust. Measures can be expressed as a percentage, timeframe, or in financial terms.
Measures can be expressed as a percentage, timeframe, or in financial terms.
For example, “We completed a project recently with a company of your size and reduced their overheads by 20% without losing one employee. Would you be interested in how we did this?”
Words that communicate value are and not limited to:
Improve, increase, reduce, downtime, productivity, operating cost, turnaround, maximize, minimize, downtime, save, eliminate, enhance, cut, gain and profit.
Success in business development requires persistence and consistency using a variety of touch points whilst focusing on stating value from the client’s perspective. This will provide you with the greatest opportunity to secure an initial meaningful conversation and a meeting.