Sales Strategy Secret Sauce
So, here we are in 2023, all set for a new year, with fresh challenges, potential opportunities, and the promise of an undetermined number of successes ahead of us. As every business owner knows, a new year – whether it’s calendar or fiscal – prompts lots of planning and strategizing. This includes in-house growth, installation of new equipment and IT and cybersecurity measures, discretionary changes to HR policies to accommodate remote work, thoughtful marketing…and sales.
Sales is a broad term, encompassing several different, but important, considerations. Within sales, labor and supply factor in equally. And now, more than ever. An astute business owner recognizes that both are going to be a challenge to secure, and it’s anyone’s guess when things will change for the better. “There is still so much uncertainty,” acknowledges Mr. John E. Dustin, President of J.E.D. Insurance and Financial Services Agency, Inc., in Foxboro, Massachusetts. “But I still think that having a sales strategy is important for this year, even though we are all aware of these two main issues and it’s really difficult right now.”
Every business has a sales cycle, and every business has to keep making sales, in spite of challenges beyond the control of the business owner. This is an acceded fact and germane to managing a successful and prosperous business. For a company to thrive, retain loyal clients and customers, and sustain a healthy and ongoing sales cycle, what is required, in this commercial landscape that is still fairly new and operating under a post-pandemic shadow? Add to that, how is it possible to secure sales with high-interest rates and skyrocketing inflation?
John’s exchanges with his clients come from an empathetic point of view. This approach is the basis for his sales strategy secret sauce. “It’s not my style to ‘power close’ someone if it’s not right for them. My first step is to become familiar with a prospect’s industry and to understand their type of business. Really get into the weeds and understand how they operate. This makes getting to know them and their needs better. Then when they explain their pain points, hot buttons, and current problems, I have an informed basis for where they’re coming from,” John explains.
With an innate perception of the hesitancy of some potential clients, carefully opening up such a dialogue has the effect of establishing John as a valued resource, and one who is not just in it for the sale. From a long-range view, John confirms, “It could be six months, twelve months, or eighteen months. Or, it could be two or three years. But if you do the right thing, even if you don't get the sale immediately, I believe that people will come back.”
For example, when talking with a manufacturer, he inquires about the bottlenecks they experience. He asks if they have issues with getting product, or if there are defects. Is there something they’re doing that is different from what they were doing before? Where are they buying from? Overseas or domestically? Understand your prospect.
Regardless of the industry, John says that it’s important for the person selling a service to understand what would benefit the customer and what they are up against. This is when showing empathy is especially important. This is different for businesses versus consumer purchases. Though even with a consumer purchase, like an appliance, it’s still paramount to know what is important to the customer in the long run. Put simply, what do they need for value?
As John states bluntly, “Don’t just sell them something. Instead, think ahead. What’s coming for the future? Is the product they’re selling going to become obsolete? How difficult will it be to get replacement parts? What are their current issues and hurdles in their business? Is cash flow important to them?” All of these foregoing questions might seem random, but these serve to illustrate how widely applicable John’s preparation is when talking with a prospect in any industry. Educate them and let them order from you.
An important side point is how John distinguishes between a client and a customer. “A lifelong client is someone who’s going to use you as a resource, keep coming back to you, and build a partnership with. That's important,” he articulates. Conversely, a customer is merely transactional.
John understands that salespeople within an organization have the added challenge of figuring out the right product or the right service for everyone and appealing to the majority of buyers, so that they will appreciate the benefits. Even if a product or service cannot be completely customized, the important thing is to deliver value all along. Sometimes this means not replacing the current service provider or product, but just being available as a reliable advisor. Often, John notes, as time goes on, a prospect’s current provider may no longer deliver for one reason or another (perhaps their product is no longer viable in the current market), and this is the onus that triggers them to make the change and purchasing the right product.
To summarize, the sales strategy secret sauce John promotes focuses exclusively on the prospect or client, focuses on value, focuses on what their challenges are, has empathy, and helps them find a solution, which will help them achieve success and prosperity. “Then in the long run, they'll be lifelong clients, not just customers,” he concludes. Be a detective and leave no stone unturned. - Copywritten by Boston Edits, LLC.