Sales channels to reach your customers
Selling through retailers, wholesalers and other distributors
Selling through an intermediary may be a more cost-effective way of reaching your end-customers than selling to them directly.
If you are targeting business customers who prefer to deal with large suppliers, selling directly to them may not be a realistic option. Instead, you might aim to supply wholesalers who have existing relationships with those businesses.
If individual consumers buy low value quantities of your products, the best option might be to target retailers that sell similar products. Or you might choose to focus your efforts on a relatively small number of wholesalers who can in turn supply your products to many retailers.
Other distribution channels may also reach your end-customers. For example, technology suppliers often sell to resellers who can configure and install the technology to suit end-users’ particular needs.
Managing your distributors
You need distributors who will value your product. If they sell competing products, what will make them push yours?
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Think about how you set your prices. Distributors will be more enthusiastic if they can make a large profit – but setting too low a price will eat into your own margins.
Effective advertising and promotions can be vital. As well as marketing to the distributor, you can promote your products directly to end-customers. Distributors will be keener to stock and sell products that their customers are asking for.
The key terms of the supply relationship should be covered in a written contract. Key issues might include:
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how much stock the distributor will hold
what the distributor will do to promote your products
how quickly you can resupply and minimum order levels
whether the distributor has exclusive rights to your product (for example, in a particular territory)
what happens if either you or the distributor want to end the relationship
Business ideas, Marketing and sales , promotions and advertising ideas , articles
Sales Prospecting
Sales Prospecting
brianoconn
Sales Training
December 18, 2017
4 Minutes
Sales prospecting is not an easy sales activity. It is a sales technique that requires training and constant attention to the latest developments in prospect engagement or lead generation tactics. Sales prospecting is a critical aspect of the sales process as the biggest challenge in sales is getting an opportunity started in the first place.
Sales Prospecting Should Match the Buyers Journey
Nearly all buyers go through a number of stages on their buyers journey. Along the way they will make decisions on the importance level of solving the pain point, they will evaluate the available solutions plus assess vendors who they feel can suitable. In the early to middles stages of the buyers journey, sales prospecting is about bringing clarity and communicating a value proposition to the prospect. A potential customer will also need to be convinced of how familiar they believe a salesperson is with their business needs. The outcome of a prospects decision or considerations can be linked back to how well a salesperson has built trust and confidence through the various sales prospecting interactions.
Successful sales prospecting ensures that all interactions and sales communication are geared towards creating specific outcomes, not for the salesperson but for the potential customer. A focus that outlines how the company can make the prospects life easier, their jobs more rewarding and outcomes that simplifies their buyers journey.
Sales Prospecting Tips
Selecting target prospects to engage.
Use ideal customer profiles to map the buyers journey. Before a salesperson reaches out via social selling, cold email or phone call they need to be able to answer why are they on the list of prospects. What information, signals or insights would make them a potential customer?
Sales prospecting where salespeople have to find or create opportunities is not easy. It involves quite a bit of effort to establish credibility and to get the prospect to listen to what the salesperson has to offer. Sales prospecting has to be a planned, organized activity as random prospecting is mainly a waste of time. Core to every good salesperson sales prospecting activities, is the importance of understanding the companys needs, as well as the prospects desired outcome they will get by using the proposed product or solution. Using LinkedIn, Google search, Forums and Business directories are the most effective and efficient way to find quality prospects that match a companys ideal customer profiles.
Create a Strong Value Proposition.
Sales Prospecting Tips from The Digital Sales Institute on Vimeo.
Never forget that a prospect only cares about their problems, their challenges and their pain points. They are not looking for a nine-inch drill, they are looking for a nine-inch hole. They want to listen to salespeople who make sense, who create value, who are credible and who will make their lives easier, this includes helping them through the stages on the buyers journey. Prospects dont want to listen to product pitches. A prospect wants to hear solutions to their pains and problems, evidence that others have experienced this and got a resolution. They dont need more vanilla flavoured sales messages. They want a value proposition that will make it worthwhile their time listening to a salesperson. They want insights, they want to see the end result (without the sales pitch) from the earliest step in the buying process.
So, create a strong value proposition and ask Will it get a prospect to listen?
Social Media is a Key Activity in Sales Prospecting.
Social media is playing an increasingly bigger part in purchasing decisions and B2B buyers are being influenced more and more by social media. Within the next decade, the majority of B2B buyers will be digital native. Social media will be their go to channel to research, connect, reference and to educate. Social media not only gives salespeople access to buyer profiles, but rich data such as background history, connections, similarities, likes, interests and deep insights into the company. Social listening can throw up signals about the prospects needs, trends in their market or challenges within their industry. All this data can be used in prospecting research and in the creation of a value proposition for a specific market.
Also, social selling along with the growth of inbound lead generation have surpassed the older, more traditional forms of sales prospecting. Whatever other sales prospecting tactics a salesperson uses, the use of social media and social selling has to be on their list.
Learn to use Sales Tools and share Content.
Potential customers value content that helps educate and fill in some blanks for them. As more and more selling will be conducted via the digital channels, sales teams need to up-skill on the use of sales tools and content (articles, whitepapers, research etc) to engage a prospect. Content that supports sales prospecting activity must be based on fulfilling the customers needs and requirements. The goal is that they build a trusted connection with the salesperson via their interactions. Buyers are drawn to thought leaders and surveys show they prefer interaction with salespeople whom they consider to be a trusted adviser.
Many companies are now prioritising the education of their target audience through the creation of deep and insightful content assets that makes buying easier, and they are doing this with a customer first approach.
Sales tools such as video, ROI calculators, AI, scenario planning, live webinars, messaging channels and virtual tours will continue to grow.
Sales prospecting prioritises building longer term relationships
Always take into account that at any time, just 3% of your target market are actively seeking to purchase with approx. another 6 to 7 percent in the consideration stage. This leaves a whopping 90% of an addressable market that is in the status quo position. The fact is that while a prospect may have pain points, no salesperson has made them critical enough that a buyer wants to prioritize a solution.
Salespeople can get lucky with sales prospecting and find the 3 to 10% of the market seeking or considering to purchase now. However, to be truly successful a salesperson will need sales training to nurture more relationships. Nurturing and engaging a focused group of ideal customer profiles should be an essential part of every sales prospecting strategy. This takes time and skill but sales prospecting is now about getting in early, building credibility, cultivating a relationship and getting the prospects trust that when the time is right, they will move with the salesperson who has influenced them the most.
Regards
Brian
The Bitter Business
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Published by brianoconn
Online Sales training programs and online sales training courses via The Digital Sales Institute. Passion for helping salespeople succeed in their sales career.
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Published
December 18, 2017
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