Always remember your customers and clients are people not assets on a balance sheet.
Don't they sometimes feel neglected or undervalued too? What follows is probably nothing new to you and I'm sure most of you are already doing it.
In today's environment, the cost of acquiring new accounts has skyrocketed. Studies over the years have shown that selling additional products and services to an existing client base can be more cost effective than spending time in new client development. With existing accounts, we have already absorbed the cost of acquiring the business. Our existing client base would utilize more of our services if only we had the foresight to ask for the business. Yet, we seldom ask.
So, how should we bring up the subject? One of the most successful ways to do this is to take your client to lunch. This enables the buyer-seller relationship to change. Inside the office, your client has a role to play and many demands to meeting. Inside the restaurant, you can focus on selling the additional business.
Follow these suggestions for a successful business lunch with your client:
Thank your client for the existing business. Tell the client you appreciate them. Let them know they are an important part of your business, and you will strive to maintain the partnership.
Review the history of the account with your client. Sandler teaches us to have the client do the review. Ask for input as follows:
How long have you been doing business together?
How satisfied is the client with your services?
How does the client feel you could improve your service, and in what areas?
How receptive would the client be to giving you a reference letter?
Most successful salespeople have a book of reference letters or testimonials. Instead of extending the sales cycle by having a prospect call your existing client, you can pull out your reference book for immediate review. A reference letter enables your client to put their thoughts and feelings into concrete form. If your client has trouble putting thoughts and feelings into concrete form, it's helpful to go over the letter with them.
Ask what expectations your client has for the upcoming year.
Ask how much business they have given you thus far.
Then ask, "Based on where we are in the year and projects that you have going on internally, where do you think we will end up at the end of the year? What additional business would I be involved with?"
Get that number.
Use it to help forecast sales and check that reality with the number in your account plan.
Ask for a list of other upcoming projects or purchasing decisions happening.
This will expand the scope of your business. Often, your client doesn't understand your full line of products and services. By having your clients explain what is going on internally, you can use your product knowledge to decide how to best apply it, and where.
Ask your client for the names of other people working in other departments within his/her company.
Ask for the names of those in charge of purchases and projects within the scope of your expertise.
I don't suppose it'll work in your business but do you wonder if you'll experience tremendous outcomes following these suggestions?
Your client may feel that they are an integral part of your business and are in partnership with you for the future. Asking for a reference letter from them makes them feel important, too. Furthermore, you will have a clear picture of what is ahead and a good roster of outside referrals.
Good luck, and bon appetit!
(C)Copyright Sandler Systems Inc. 2006 Happy selling.
Marcus Cauchi Managing Director S.A.L.T. (Europe) Ltd Sandler Sales Institute, 180◦ From Traditional Sales Training©
Sandler Sales Institute® - Licensed Franchisee Guerrilla Marketing® - Licensed Master Practitioners Mob +44 (0) 7876 616 983 Tel 0845 458 1237 (UK Only)
london1.sandler.com
Sales Training London: Lets Do Lunch - To learn more about this author, visit Marcus Cauchi's Website.
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Marcus Cauchi
(Visit Marcus's Website)
Marcus Cauchi is London's first licensed
Sandler sales trainer. 19 years in direct
sales, he's sold physical products,
services and intangibles with varied
success. Over 16 years he left behind over
£56 million in deals he could have won,
but did because he didn't know any
better. He thought you had to qualify for
needs, present the benefits of your
solution, trial close, follow up with a
proposal or further information and the
close. He learned the hard way that when
you "pitch" a prospect lies to protect
himself. When you present and answer his
questions, he'll steal your ideas. When
you close, he'll mislead you or defer to
a higher authority (boss, wife, CFO) and
then when he's got you to document in
writing (proposals) and give away your
confidential pricing, he'll shop that
around your competitors to get the best
deal. When you follow up for a decision,
he'll give you unlimited access to his
voicemail and hide. Marcus teaches
counter intuitive selling. Average clients
increase revenues by 100-1100% in a year.
He's probably not for you though as it's
difficult and expensive.
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