The Center for Sales Strategy Blog

January is history, and some sellers are already singing the blues because their year is off to a cold start. That’s the bad news… here’s the good news; it is not too late to make some changes to accelerate revenue and improve sales performance.

Here’s a list of five things to get 2019 back on track and heat up sales revenue!

Which of the following will generate the highest return?

• More customers
• Keeping customers longer
• More revenue per customer

Any one of these can grow revenue. But one has been shown to consistently bring in a higher return on your investment. Most businesses say they are focused on these in the order of the list: adding more customers, than keeping them longer, and finally getting more revenue per customer.

The problem is that the research shows that a focus on more customers is the wrong path to maximize your return. And that it leads you to build the wrong solutions.

Well, you wouldn’t be alone — I hear this from sales managers all the time. Here are the reasons I see that salespeople too often select the wrong companies to pursue:

• They are opportunistic and therefore look for low-hanging fruit where getting access to decision makers is relatively easy. Sometimes that works out, but too often it translates into prospects that do not have the resources to be a key customer in your organization.
  
  
• They let their own preferences dictate who they pursue. There might be particular categories they are comfortable with, or types of individuals they like to deal with that prejudice their thinking about who they should pursue as a prospect.

Picture this. You are seven weeks into the quarter and pacing behind last year, and significantly behind your budget. Your manager and your manager’s manager are nosing around to find out what is going on and peppering you with questions about your plan to fix this. Your sales team is growing increasingly frustrated as orders get canceled and prospects fall through. This scenario is hypothetical, of course, but perhaps you have been there. So, how does a sales manager deal with this?

Salespeople work hard to build an account list. Most clients on your list have been researched, painstakingly approached, and developed over time. Maybe a few just fell into your lap. But you value them all. Sure, some may be easier to work with than others, but you have no reason to change anything. Why would you?

Because the path that leads to a larger account list is not just more clients, but better clients.

I want to share some interesting lessons I heard at the recent INBOUND18 Conference. It was one of the last sessions on the last day. The one you debate about attending, because out the window the shuttle buses are already filling up with attendees leaving for the airport. I’m glad I stayed, and want to share some of what I heard in relation to building your account list.

Many years ago, I talked with the owner of a specialty grocery store in Columbus, Ohio called The Hills Market. During this conversation, I learned about the term “giving customers the finger.”

This unfortunate situation occurs when a customer asks for help locating a product and an employee points in the direction of the product and sends the customer on their way. From a customer service perspective, this is a no-no! The best way to help a customer is to listen to their request (problem) and take them to the product (solution). 

Some sellers wonder why they miss sales goals on a regular basis even though they are busy as a bee. Making “plenty” of face-to-face calls. Presenting and closing “plenty” of proposals. Conducting “plenty” of post-sale follow-up tasks. All of these activities usually equal another month short of exceeding their sales goals. 

I get it. I know it is important, but I’m sick and tired of hearing about new business. Truth be known, most sellers are sick and tired of hearing about new business… and their managers are sick and tired of talking about it!

Facts Behind the Myth

The majority of sales organizations are obsessed with new business because of one reason: they do a terrible job of keeping and growing existing business (AKA: customers).

Not all customers are created equal. World-class sales organizations segment them like this:

As VP/Sr. Consultant at The Center for Sales Strategy, I’ve worked with many customers over the past fourteen years. I would be a wealthier man if I had a dollar for every time I heard this line from sellers:

“All the good accounts are taken.” 

Recently, I shared a blog post called 10 Social Media Best Practices for Salespeople, and I wanted to expand on a few of them specifically related to how you can put these best practices into play on LinkedIn. I’ve gathered some specific examples from our team of experts, so check out the previous post here, then read on for actionable steps you can take in one hour or less of your time, to enhance your LinkedIn social selling efforts.