6 Steps to Help Land New Accounts
In many organizations, the responsibility for capturing new accounts lies with each individual sales rep. Sometimes there is an assist from sales leadership (and maybe the marketing department for those companies who have one) but for the most part, it is left up to the rep. Maybe we can do better.
By bringing together a cross-functional team for collaborative discussion, leading companies are discovering key strategies and a tactical plan for bringing in the type of accounts that provide big value to all stakeholders. Here are six steps that can help guide your team in preparing for and winning new business in a targeted way.
Step 1. Describe the prospective client’s profile in detail. What industry are they in, what are their main products/services and what makes them a desirable prospect for us?
Step 2. Describe in detail the opportunity. What is the potential sales volume and why is this account now in play? Is this company influential in their industry and can it lead to other like businesses joining us?
Step 3. What have we done so far to try and attract this account? What have been the obstacles or objections? What needs have been uncovered that lead us to believe they are an appropriate prospect for us?
Step 4. Given these obstacles/objections, what specific things can we do to overcome them? If we’ve faced similar objections from like prospects, what did we do to successfully address those? What are the specific solutions and unique value we can provide? Lay out some different scenarios and role play them.
Step 5. Create a list of open questions designed to engage the prospect in a dialogue that may uncover needs, problems, and frustrations. How do these issues line-up with those of current customers? Which of our products/services are best positioned to address and solve them?
Step 6. Develop an overall strategy and a tactical plan for meeting with the prospect. What role(s) will team members play in supporting the process? How will the account be serviced?
While all these steps can be addressed as a solo effort by the sales rep, consider the potential positive impact a collaborative effort can have with key prospects and with your team members.
For more details on utilizing a team approach for business development, contact me at firstname.lastname@example.org.
Joseph P. Truncale, Ph.D., CAE, is the Founder and Principal of Alexander Joseph Associates, a privately held consultancy specializing in executive business advisory services with clients throughout the graphic communications industry.
Joe spent 30 years with NAPL, including 11 years as President and CEO. He is an adjunct professor at NYU teaching graduate courses in Executive Leadership; Financial Management and Analysis; Finance for Marketing Decisions; and Leadership: The C Suite Perspective. He may be reached at Joe@ajstrategy.com. Phone or text: (201) 394-8160.