In a world of uncertainty, some level of security is always pursued. In the world of selling, it could be that your main concern is getting good deals on the board; but what are considered ‘good’ deals? If you target companies who are unable to pay you on time, this could seriously damage your business and your cashflow. Some businesses may not be able to pay you at all if they become insolvent, so why bother targeting companies with a poor credit rating? By organising yourself and targeting your sales efforts, you will be able to bring in more good business for your company with customers who are creditworthy enough to pay you on time.
Here’s how to do it…
Find your ideal customer
Research your perfect customer - When you’re looking at companies to target, you need to know what you’re looking for. Doing research into your target audience always pays off, whether it’s analysing your current customers or speaking to different industries on how they could use your product. Tweaking your sales pitch slightly to coincide with different industries will also get you noticed more against the white noise. Spend some time thinking about who your product or services would benefit, how it could help them and what problems it would solve for them before reaching out.
Develop your sales pipeline of creditworthy customers - When you’ve established your target audience, start searching for companies to target based on their criteria. When you find them, running a company credit report on them is essential to see their payment terms and company credit rating. There are tools available that offer both the searching feature and the financial information all in one place such as Sales Joe from Creditsafe. You can group your target audience together and see their financial state within the tool.
Selling to your customers
Once you have established your target audience and found companies to target, here are some tips you can use to get the best out of your sales efforts.
- Diarising your calls - By keeping a record of everyone you have called or are planning to call can help you organise your sales efforts and make sure you are exploring every avenue. It can also remind you to chase up calls where you had no luck previously.
- Monitor your progress - Note if you have spoken to someone, left an answer phone message, had an initial conversation or if you have put a deal on the table. If you are trying to sell to someone, you should treat them like they are the only person you’re speaking to, don’t get caught up and confused with various prospects. Keeping notes reminds you exactly how much progress you have made with each prospect.
- Get past the gatekeeper - There is no point targeting companies if you can’t reach a decision maker. The last thing a sales person wants is to be passed through departments by switchboard and in bigger companies if you don’t have a name of someone to speak to you won’t get passed reception. Sales Joe comes pre-loaded with over 12 million decision maker contacts for every business in the UK, using a tool like this can help you win better deals, faster.
Sales Joe from Creditsafe has information on every business in the UK, it helps you reach the decision makers in your target audience; aiding you with criteria to narrow down your target market. Log all your activities and accelerate productivity all in one place. Set tasks, check creditworthiness and group together your target audience so you can grow your business faster.