I was speaking to one of our clients this week about his job role. He’s an account manager. So he manages accounts. Sounds good. Every account we have needs managing.

But his gripe was concerning the fact that he has to spend so much time looking for new business that he seldom has enough time to develop business with his current accounts. He is worried that he’s missing opportunities to develop loyalty with his existing client base.

There’s no doubt that the fastest way to generate revenue is to grow existing accounts.  But most companies seem to spend a lot of time looking for new business, hence leaving poor  account management programmes in place for existing customers.  Often, these programmes are more focused on customer satisfaction than actually getting more business from clients.

I told this account manager that he should be spending more time developing strategies that grow existing revenues with current clients.  They’re the ones who know you and your services best. So, you should be creating real reasons why your existing clients should be interested in doing more business with you, so that their business improves.

Here are some thought-starters.

Make an analysis of which clients buy which products and services from you. Are there some gaps that you should be pursuing? Do you sell products that some clients buy and not others? Is there a market for those other products with existing clients? Do they buy some products or services from other suppliers? There may be opportunities you are missing.

Build loyalty by creating offers only available to current clients. This serves as a kind of loyalty bond, and encourages the client to think of you when they need more products, rather than trying the competition.

Invite them to customer focus groups. An incentive to attend one of these groups could be to help you develop your future products and services, while in return getting better payment terms or closer account management.

Consider building symbiotic buying relationships with the client. This will encourage them to partner with you and will get you deeper into the buying process that they are using when they choose a supplier

Create value through partnering. How many of your customers sell at trade shows and exhibitions? Offer to work with them in setting up the exhibition.Make them look good in their customers’ eyes. Determine how you can increase their expertise in their field. They will start asking you for your advice and listen to your recommendations.

Develop on-line business by using them as a case-study of success in your newsletters. When your client sees their company used in a successful way, they see the relationship with you deepening and you become even closer partners

These approaches will convince your current clients that they made the right decision partnering with you, and you will see customer loyalty increase.

So, spend more time on building loyalty with existing customers as well as looking for new prospects. You know it makes sense!

Happy Selling!

Sean

Sean McPheat
The UK’s #1 Authority On Modern Day Selling
MTD Sales Training

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Order Taker? Trusted Advisor? Or Cheese Monster?

From the customer’s point of view there are 4 types of relationships that they have with their suppliers.

And if you can progress through each of the stages I’m about to describe below you can really make a huge difference to their business and your own profits!

STAGE 1 – THE ORDER TAKER
If they view you as just an order taker then price sensitivity will be very high indeed and their loyalty to you and your products and services will be zero.

Price will be the major factor.

STAGE 2 – THIRD PARTY SUPPLIER
To your customers you offer a good range of products and services and there are some other benefits that come along with it to.

You’re still classed as a vendor though and the deal is a business transaction rather than a business relationship.

STAGE 3 – THE VALUE ADDED SALES PERSON
You are there for your customers and you add value by helping your customers with more than what is expected.

You’re still viewed as a vendor but one that is top of the list.

STAGE 4 – TRUSTED ADVISOR
This is ideally the position you want to be in.

The customer views you as an extension to their business and a part of their business.

Usually, you are able to offer higher prices because you deliver the goods both directly and indirectly. The customer calls you to sound you out on ideas and whatever you say, goes a lot of the time!

This is the key for building long-term relationships.

So where are you on this ladder and what can you do to progress through the stages?

Happy Selling!

Sean

Sean McPheat
The Sales Jedi
MTD Sales Blog

MTD Sales Training

Telephone: 0800 849 6732

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Here’s an email I received over the weekend:

“Dear Sean – thank you so much for your wonderful sales blog. My Sales Manager is always going on at me about my lack of after-sales follow up activity and I am trying to improve. Are there any other areas that I should be looking out for in addition to this? Thanks again Ian King”

My thoughts:

Lacking an effective follow up process is a killer in sales. There is so much money left on the table due to this not being done that it can be scary!

There are other areas to avoid too.

Here are my top 5 mistakes to avoid in perfecting your post-sale activity:

1. No effective follow up sales process

2. Going for big deals all of the time

3. Not viewing current clients as prospects

4. Not looking out for trends in your client’s industry that can be an “in” with your clients

5. Being afraid to ask for more business

You’ve done the hard work in getting the client and as long as they are happy clients then there is gold in them there hills! As long as your post sales activity enables this of course!

Happy Selling

Sean

Sean McPheat
Managing Director
MTD Sales Training

Telephone: 0800 849 6732

Have you downloaded my latest report yet? “The Sales Person’s Crisis” has been downloaded by over 10,000 sales pros and entrepreneurs. Don’t miss this unique report that lifts the lid on modern day selling!

Click on the image below to find out why you’re very existence as a sales person is in doubt…

Post Sales Follow Up

After-the-Sale Service Practices

The Return on Your Investment
One of the reasons so many sales people have trouble committing to after sales service and follow up is because they cannot see the return on their investment. Many people feel that once the sale is closed and the commission earned and spent, any further time allotted to the customer is a waste. After all, you are paid to make sales not to “hold a customer’s hand” after the sale is done. However, effective sales follow up will do more than patronise your customer; it will bring you more sales.

Follow up also doesn’t mean you must bend over backwards and “jump through hoops” at a customer’s whim. While you should always provide your clients with a value that is greater than the money they paid, you will still perform a service. Follow these three simple steps:

1. Continue to sell
2. Make yourself available
3. Become a liaison for everything

Continue to Sell
What happens to your enthusiasm for your product or service once you close the sale? Usually when the customer has signed the order, received the goods and paid the bill, the sales person discontinues the “selling.” At first glance this appears to make sense, because the customer has bought the product; the client has agreed to the service and therefore no more selling is needed. The sales person feels no need to continue to try to convince the customer, because the customer is “sold.” However, this instant “drop” in your enthusiasm for your product or service can have a detrimental “buyer’s remorse” effect on your customers.

From the client’s perspective, you were first very excited to get the opportunity just to speak to the client about your wonderful product. You and your company spent a lot of money promoting this product and securing an appointment. You jumped up and down about how essential the product was to your customer and pushed for the sale. You pushed the client to buy the product NOT because you needed the money but because you felt the customer needed the product. You assured the client that you had his or her best interest at heart. You insisted the prospect buy the service because he would benefit more than anyone. You emphatically claimed that your primary motive was to help the customer and the money was only secondary. Then, once you “got the money,” that was it. It all stopped and you disappeared.

If you are genuinely excited about a product, that excitement should remain with you after the sale, whether the customer makes a purchase or not. Also, it is after the customer makes the initial purchase that their doubt and second thoughts begin to creep in. It is after the customer has spent his money when his neighbor tells him that he made a mistake or the husband tells his wife she should not have signed the agreement. It is after the sale that the true “OBJECTIONS” arise. You have to continue to SELL your product to the customer almost as if the customer did not buy: continue to sell the product long after the sale.

As you visit the customer and continue to sell the product for which the customer has already made the purchase, it strengthens the buying decision in the mind of the customer and raises your level of professionalism. The customer realises that you are still selling even though there is no commission to be made. The customer realises that you actually believe in what you said. The customer’s trust in you grows and this is where the customer will begin to “open up” and inform you of their other needs.

Depending on the product or service you sell, this continuation of the sale, can be simple or very complex. If you sell services that interconnect, then this process will be ongoing and more detailed. You want to come up with three to five ways that you will continue to sell your product AFTER the sale. Here are a few examples:

A. Security systems sales person closes the sale for an alarm system with the business owner. Two weeks after the sale, the sales person visits and takes the customer some recent news articles about robberies in the area, reassuring the customer that his decision was sound and well timed. Another two weeks later, the sales person sends customer a letter in the post with some statistics that show that owners of their systems have never suffered a break in.

B. Car sales person sells new car. Four days after the sale, sends customer a news clipping that shows the car has won new awards for safety. Two months later, sends the customer a birthday card and a note that the demand for the car they bought has increased and pushed up the price and value of their car.

You want to have three to five after the sale “Selling” points for your customer. This can happen over a period of a few months or years due to the nature of your product. In either case, over the course of time, develop and deliver three to five selling points. You can use the form at the end this document to keep track.

Make Yourself Available
Let your customer know that you are “available” anytime for anything. Make an occasional telephone call or send a letter that tells the customer that you are “there” to assist. It is important NOT to sell on these occasions and you can combine this with your staying in touch occasions. Create three to five ways to inform your customer that you are available. Remember, these can be days apart or months apart.

Become a Liaison for Everything
One of the most effective ways to maintain account management and to follow up is to become a liaison for your customer to other services and needs. Become someone that the customer can call for ANYTHING that they may need even though it may not relate directly to your product or service. Become a “resource” for your customers.

For example, let us say that you sell executive training services and your client, Mr. Jones, is a happy customer. Of course, you will stay in touch with Mr. Jones in as far as providing him with additional training services. However, what of Mr. Jones’ other needs? You find that Mr. Jones is in the market for a new car. You do not sell cars, but one of your clients owns a dealership. You also have clients involved in technology, real estate, finance and insurance. You want to inform your client that before he goes to search the telephone directory to buy anything, to call you first.

Sales Person: “Mr. Jones, please remember that you can call me for anything and I mean anything. As I mentioned, I have a lot of customers in all types of industries in this area. They are all successful people just like you. So, when you need an estate agent or a lawyer, don’t pick up the telephone book, call me first…”

You then become a major resource for the customer; a super directory: a Super Sales Person. This networking will bring you a lot of extra business in addition to keeping your customers happy. Over the course of time, make three to five actions that inform your client that you are the conduit to all of his or her needs.

Happy Selling!

Sean

Sean McPheat
Managing Director
MTD Sales Training

Telephone:
0800 849 6732

Have you downloaded my latest report yet? “The Sales Person’s Crisis” has been downloaded by over 10,000 sales pros and entrepreneurs. Don’t miss this unique report that lifts the lid on modern day selling!

Click on the image below to find out why you’re very existence as a sales person is in doubt…

How To Cultivate And Manage Your Accounts

Ok, you’ve located the prospect, qualified the lead, made the contact, secured the appointment, made the presentation, presented the proposal and finally closed the sale.

You now have a customer; that is someone who has done some business with you.

But now what do you do?

How do you turn that customer into a loyal CLIENT?

Understand this: creating long-term client relationships is not as easy as it once may have been.

Today’s consumers are sophisticated, educated, savvy buyers who have a whole world of information at their fingertips.

Add the fact that your competition has become fiercer and are constantly trying to “buy” your customers and the result is buyers who are far less loyal then in the past and stand ready to “trade up” the moment you miss a beat.

You must know how to build “relationships” and become an integral partner in such that you transcend the lure of a discount.

In reviewing your account base for more business remember three words: Care, Cultivate and Consult!

Care – for the Customer

The dictionary definition for “to care” means to be concerned.

The first thing you must do is demonstrate that you are concerned; you care for your customer and their business.

Note the word I used was “demonstrate” and not “talk about.”

You can tell the customer how much you care but you have do actually show that in what you do. How often do you call to ensure their needs are met?

Not to see if you can get another order; but to see if you can be of SERVICE?

As you work with your base, you want to contact your customers and show that your concern for their well being and success goes beyond the commission you already spent.

Send an email asking new questions, continuing to sell your services and the fact that you are always available.

“Hi Miss Customer; of course you know we sell software solutions, but I noted the last time I was there that you were having some problems with your file and print servers. I was just wondering if I may be of some help.”

Let your customer know that you are there to assist even in areas were you do not get paid to do so. Keep notes in your CRM database, keep your eyes open for industry news that may apply to the customer and ask questions.

Listen, you did things like this when you were trying to impress the prospect to get the first sale—now keep it up!

Cultivate – the Relationship

Most sales people believe that the way you cultivate and build a relationship is to go out of your way to become drinking buddies or golfing partners with your customers and while such may sometimes be the end result, it is not the path.

The correct path to a deep relationship is to continually provide valuable services, solve problems and become a close “partner” to your customer.

By doing this, the personal relationship will automatically develop—but it will be sincere! Look, people are not going to remain loyal to you just because you sent a bottle of scotch or ‘butter them up’ with false flattery every time you see them. Be sincere and help them.

“Mr. New Customer, I came across this article on international mortgage rates and I know you are looking for a new location, so I thought you could use this information…”

A good way to cultivate is to ask the customer to explain and boast about their achievements. As they do this, it gets you deeper in to the company and closer to the client.

“Miss New Customer, since you took over IT at XYZ, you increased efficiency 85% and I am glad I was able to help with our software solutions. But I would really be interested to know how you overcame so many other challenges like high turn over at the help desk. Could I buy you lunch and…”

Consult – Always

Continue to be a consultant, which means to give advice; to be a counselor, industry authority and mentor.

“Mr. Customer, there is a conference next week on international shipping; it might be a good idea if your shipping manager could be there.”

“Mrs. Customer, I know you have a booth at the upcoming convention and I would like to give your sales team a few extra tips on using our CRM that will help them maximize the amount and quality of the leads they capture…”

For solid account management: Show you care. Cultivate and broaden the relationship and continue to be a consultant.

Until the next time, take care of yourself and happy selling!

Sean

PS If you want to improve the performance of your sales people please click on the link below and send me an enquiry:
http://www.mtdsalestraining.com/enquiry.html or please give me a call on 0800 849 6732

_______________________________

Sean McPheat
Managing Director
MTD Sales Training International

Telephone:
0800 849 6732

Website:
http://www.mtdsalestraining.com

Have you downloaded my latest report yet? “The Sales Person’s Crisis” has been downloaded by over 10,000 sales pros and entrepreneurs. Don’t miss this unique report that lifts the lid on modern day selling!

Click on the image below to find out why you’re very existence as a sales person is in doubt…

I received an email last week from Trevor Borrows who is a newly appointed National Sales Manager in charge of a team of Account Managers.

__________________________________________________

Here’s what Trevor asked:

"Hi Sean, being a new National Sales Manager I need to understand how to develop account strategies. I’m really wet behind the ears with this.

I appreciate that you run courses around this and I will be asking you to come in and help us to put strategies in place and then to train my team in account management best
practices but for now, could you give me some guidance whilst I secure the funding? Thanks Trev Borrows"

__________________________________________________

My exact reply was:

Hi Trevor,

There are various labels that can be used to describe the way a sales team is set up to approach its market, covering the sales approach and parts of the structure.

The "traditional" approach:

- Get new accounts
- Get the order
- Push for the option to discount
- Give extra services etc to get the sale
- Treat all accounts the same way
- Sell to anyone
- Think that everyone in the organisation should fit around your
   promises to customers
- Feel that certain internal functions are a nuisance and only
  there to block sales.
- "Lone ranger" mentality

 
Relationship selling

- Manage existing accounts
- Develop wider contacts
- Focus on service and support
- Create a sense of partnership
- Can see everything from the customer’s point of view
- Inclined to want (or need!) to be liked

Have you downloaded my latest report yet? “The Sales Person’s Crisis” has been downloaded by over 10,000 sales pros and entrepreneurs. Don’t miss this unique report that lifts the lid on modern day selling!

Click on the image below to find out why you’re very existence as a sales person is in doubt…