The Center for Sales Strategy Blog

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.

The advertising game for traditional media is changing and evolving. In this case, change is not a good thing. It’s time for a revolution on your sales team. Are you ready? 

This sounds kind of dramatic, perhaps over-dramatic, but it is true. Some type of revolution needs to take place on your sales team in order for traditional media companies to stay in the game. 

Need proof? Here are some samples of reality:

How many decisions does a sales manager make in day? 10? 25? 50? That number probably varies, but most people would agree sales managers make a lot of decisions each day as they navigate changing conditions, corporate demands, and plenty of persuasion from their salespeople about doing what they want them to do. Better sales managers make good decisions more often than mediocre sales managers. So, how do they do that?

Campaign recaps have become an expectation of doing business in the digital marketing era, but they often become a delivery report instead of reporting on the performance of a campaign. The goal of any recap should be to sell the results of that campaign in an effort to retain and grow the business. Over the years, I’ve seen some really good recaps, and I’ve seen some bad ones.

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?

Proposals come in all shapes and sizes. Some are highly-technical and data-focused, while others are more detail-driven. Some are filled with fluff, while others are pretty worthless. The best proposals are a combination of data, solutions, and detail.

Media sellers today have more capabilities than ever to drive results for their clients. With all of the potential options, you would think that it has gotten easier to build a solution that will drive results, right? Nothing could be further from the truth! If anything, the sheer number of solutions has made it more challenging to determine when to use what when. And with all of those capabilities, their presentations have also become longer – many filled with a multitude of product one-sheets and then a laundry list of recommended products in the recommended solution.

That is a struggle that I hear from salespeople that I work with all over the country. It’s not just determining what should be in the solution, but how to present it in a truly integrated format where it is clear why all of the components are critical to a successful result.

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).