Hunting Sales Leads Who Can Buy Now

By Kathy Yeager

Living through the economic downturn, your sales team has probably already figured out that not everyone is your customer!  Some companies have been hit hard by the recession, and cut that training budget long ago.  So, how can you still make sales in this economy?  The answer is to remember the 80/20 rule.  There are still customers out there who can buy your products and services.  Here are some techniques to help you find the 20% who will give you 80% of your business:

• Create a profile of companies who are still buying from you now.  The profile should include the number of employees, the dollar volume of business they are doing with their customers, and what they are buying from you.
• Determine recession-proof companies in your area.  See who is still hiring, growing, getting government funding, etc.  Typically some recession-proof markets include the food industry, healthcare, energy, government, education, environmental, etc.  Make lists of companies within these vertical markets and match them to the profile of current customers.
 
• Get Proactive in approaching companies.  Now is not the time to wait for the phone to ring and be an order taker.  Determine who you will call, research them, find the decision-maker and make your approach proactively.
 
• Rank-order or place your current customers in tiers.  Invest a larger amount of time with top tier customers.  Continue to build solid relationships and trust with your contacts.  Determine how you can expand the business of current customers.
 
• Reward your best customers.  The 20% of current customers who give you 80% of your business deserve some perks and/or acknowledgement of your appreciation for their business.  Try giving a free class, one free hour of consulting, a pilot program, recognition in your quarterly newsletter, or sneak preview of a new product.
 
• Utilize social media to market.  Reach potential people who can buy from you using Facebook, LinkedIn, Twitter and uTube.  Write blogs and drive customers to your website.  Evaluate the cost of printing the catalog and determine if this is the best use of your marketing dollars.  Track your results.
 
• Request referrals from your current happy customers.  The 20% of customers who currently give you 80% of your business know other companies who could use your services.  Ask your customers for referrals.  Have them contact the other company and give you an intro to warm up the call. 
 
• Invest your time on activities actually causing movement in the pipeline.  Each week, there should be 8-10 movements in the pipeline.  That means potential customers move one step closer to closing.  Don’t waste valuable 8-5 time sorting mail, attending meetings or cleaning out your e-mail.  Remember—the 80/20 rule works with your time management too. 
 
• Make sure you have the products and services your customers want and need now.  The economy has changed.  Company needs have changed.  Have you changed what you offer as solutions for company needs?  Make sure you offer Lean Six Sigma, Going Green Programs, Increased Productivity Classes, Leadership Certifications, Performance Improvement, Coaching, Consulting, etc.
 
• Position your college as a resource.  Companies are looking for answers to their problems in a cost-effective manner.  Position your college as a one-stop provider of services—a resource to help with strategic planning and productivity, etc.
 
• Sell to companies the way they want to buy.  Sell in phases, customize programs, offer consulting and coaching, offer blended learning and on-line training.
 
• Sell solutions instead of classes.  Stop selling classes and only using the word “training”.  Research and speak the language of the customer.  They want solutions to their problems and expect the sales call to uncover their specific needs.  Use probing questions to uncover need and sell more than training classes.  Offer assessments, pre-testing, consulting, coaching and post testing.  Expand your thinking and expand your bottom line.
 
Always ask yourself—“Is this the best use of my time right now?”  What do I need to be doing right now to move closer to the 20% of customers who will give my college 80% of the business?