When tackling lead generation you want to make sure you go after companies that have similar traits to companies you are already doing successful business.  These would be some of the lower hanging fruit to go after.  The best way to identify these companies is first take a closer, methodical look at your existing customers.

Start by ranking your current customers using three criteria: gross revenue, profitability and “fit.”

The fitness ranking is more subjective than the gross revenue or the profitability ranking. It identifies the companies you know well, those whose business you are familiar with, those that are fun to work with, those you understand best, and those with which you have—or could have—a great working relationship:

What customers come up near the top of all three rankings?  Evaluate the other characteristics of the companies on this list. How large are they? Where are they located geographically? What are the titles or job functions of their decision makers? Analyze your answers to identify common traits, and use that information to find companies with similar traits.

Tags: Marketing, Sales methodology, Sales Techniques

I have to admit to using online dating sites in the past.  You write up a profile about yourself specifying your likes and dislikes, what your best features are, what turns you on and off and exactly what traits you want in a future mate.

I got to thinking that this is pretty close to how sales people prospect for new business.  You contact complete strangers and try to convince them that you have what they need.  You talk on the phone trying to say all the right things in order to get them to agree to a face-to-face meeting.  Just like internet dating.

Online daters and customers are disappointed most of the time, the proof being the small number of deals actually closed versus the high number of leads called on.  The answer lies in the details.  Online daters tell partial truths.  They specify their age based on what they believe will attract the most people.  They write too much or too little about themselves.  They go into excruciating detail of what they want, setting expectations that are impossible to meet.  They choose to post pictures that have no real resemblance to how they look today.  And they create a “false sense of intimacy”.  People think that spending a lot of time on the phone getting to know someone is the best way to make the first meeting more successful.  In reality, it does just the opposite.  It creates a false sense of intimacy leading to greater expectations that no one could ever live up to.

Selling successfully is about building relationships, but you need to be careful not to cross that intimacy line.  It will cloud your ability to remain vigilant and competitive.  You want to make sure not to exaggerate your product’s abilities.  And the best way to do that is to only present your solution in the context of their business requirements.   But, unlike online dating, where you are just courting one person (unless you are polyamorous), your deal usually involves a few people to court.   And finally you should be very clear on your proposal:  No old or fuzzy pictures.  What they are buying should be clearly laid out along with all the costs.  Breaking down the costs for each of the products and services allows your customer to pick and choose what works best for them given their budget constraints.

Most CRM solutions allow you to track personal information on your contacts, such as birthdays, sports, hobbies, and spouse and children’s names.  You should also be able to easily add your own fields to track additional information you find helpful.  It is very useful to keep this information up to date so you can build customer relationships that don’t seem superficial.  Most CRM solutions allow you to setup activities like reminders, emails, to do’s that will execute on a future date.  As an example, when you first enter a contact into the system you can setup any future activity like a birthday email or reminder that will automatically trigger on the date you specified.  It shows the prospects and customers that you are listening to them because you can remember the small details of their lives.  It is going the extra mile.  It is also important to use this information sparingly and not come across like you are best or old time friends.  But sending a quick happy birthday or an email about a sports team they like are good things to do.  Of course, this will also allow you to easily identify contacts who would be most interested in attending a golf or special event you may be planning. Wanting to be genuinely closer with your prospects and customers is not only good for business but makes it more enjoyable.

Tags: Add new tag, crm, Sales Techniques, sfa