about New business
Have you ever thought about what causes a prospect to start a relationship with you? Where they sit in their purchase process can, and will, influence how you as a sales person approach the sell.
Did a friend or business partner refer them to you? Have they thoroughly researched you as a company and are ready to purchase? Or did they just come across your company and made an inquiry?
A referral is one of the best ways to get a warm lead; we all like that bit of so called ‘easy’ business
Converting prospects into paying customers is always a testing area in many sales processes. There will be those that close after one call or meeting, but there will always be those prospects that take their time, a lot of looking after and negotiating to get over the line.
Sales has changed over the last 30 or so years, prospects are no longer one and the same, but an educated bunch that know exactly what they want, when they want it and at what price. It is no longer a matter of marketing generating a lead for sales to go ahead and close it
Your market hasn’t got an infinite number of businesses, so you’ll probably find that your best prospects already have someone supplying them with a similar product or service to what you sell.
Where the problem lies is when these prospects have built up a relationship with their current supplier. Whether they are satisfied or even if their current service falls below their expectations it is still a mammoth task to get them to take note of you. The reason many meeting requests are refused is because they have built up these long-term relationships