You’re probably already calling on your best customers.
This week, you’re going to read about how you can find your most profitable sales opportunities. They’re characterized by two things: First, you’re probably ignoring them. Second, they are already used to cutting checks to you. They’re your current customers, and I’m betting that you’re ignoring them in the quest to find new customers.
Let’s get the “but, wait, Troy” out of the way. “But wait, Troy, I already sell to my current customers!” Do you really? Or do you just make routine calls and take routine orders? Or, “But wait, Troy, you always say that the big bucks go to the people who can generate new business!” True – but that’s only because most of the people that sell to current customers don’t really sell to them; they just make the calls and take the orders. Let’s talk about how to really generate new business from your current customers.
First of all, we need to differentiate between calling on customers and selling to customers. Calling on customers is easy; particularly in repetitive sale environments, the sales call becomes like a milk route, or what I like to call the “donut call:” “Hi, I brought donuts! Do you have this week’s order?” For too many salespeople, this is the order of business.
Selling to current customers is different. Think about the things you do when you sell to a new customer. First, you must prospect and qualify, then you have to discover needs, then you present solutions, youpropose, and then you close. All these steps still happen in a development sale (an upsell). Here’s what those steps look like in development selling:
- Prospecting and qualifying: All of your products probably aren’t right for all of your customers; hence, you must select those customers to whom you plan to sell different products or services. The good news is that you can base this not on a cold call approach, but on a base of customer knowledge from doing business with them.
- Needs discovery: You still must set a meeting with the decision maker. When you do, you should do a quality needs discovery and questioning program. Is the new product right for them? While you’re at it, has anything changed in their environment that might impact your selling of your current products? Don’t skimp on this step; you should always be asking good questions of your customers.
- Presentation: Just as selling new customers requires matching needs with solutions, so does cross-selling or upselling. Sell the fit, with benefit statements.
- Proposal: This goes without saying; you still have to offer price and terms.
- Closing: Do not be afraid of this step! Ask for the new product sale just as you would a brand new customer; customers that aren’t asked to buy probably won’t. If you’re worried that the ‘close’ will damage the current relationship, the problem isn’t the close – it’s your relationship.
There’s a hidden bonus here. Customer retention is more important every day. The best way to retain your customers is to talk to them; the best way to make sure that you’re talking to your customers is to keep selling to them. Plus, if there are any difficulties with the relationship, there’s no better way to find them than try to sell them more of your products and services. And wouldn’t you rather hear about them than your competitors?
Good development selling requires commitment and planning. This isn’t something that you wing; it’s something that you build into your sales program. But if you do, your profits and growth will show it.
