In recent days, I’ve coached sales teams in order to make the most of their accounts. They were asked to provide me with an action plan to get the most out of each of them. In this test, one submitted a plan that combines strategy, segmentation and actions, without requiring additional tools.
A, B, C, D or the art of segmentation
This experienced representative told me that his accounts should be classified into different categories. Some customers deserve all his attention, others a little less, and the rest can be handled for him by a junior representative, because the potential and value of sales is lower. This is a valid approach and fits well in a sales model with commissions.
Simply stated, a big client with a potential annual revenue of one million dollars deserves all his efforts while another account, let’s say around $ 100 000, might deserve the efforts of a junior resource instead.
You’re sitting on a gold mine!
This representative states that every entrepreneur and manager should have an idea of the best opportunities and the most paying customers. You can find out! Just conduct a proper analysis of your sales data … for marketing!
Opportunities, growth sectors, declining products, product / market and so on; you are lucky to have on hand this historical data to develop strategies that are appropriate for each segment, in order to improve your performance!
Leave no stone unturned
Once the findings of this exercise are complete, it’s time for action! Translate the data into strategies and after that, into an action plan. Avoid inaction because of over thinking. You don’t want “paralysis by analysis”.
Be confident. Make a list of the key activities and highlights. Detail what should precede and follow a tradeshow for instance. It could be an invitation through an email marketing campaign, phone calls, advertising the event. Remember to measure your efforts.
Marketing is there to help sales
In spite of what the sellers may think, marketing is there to help them. Without falling into the 10 clichés linked to marketing, it is important to conduct analyzes for targeting the right accounts and assign the right resources to the right place. Like the representative at the beginning of this article, it is important to be well prepared and have a strategy and action plan to generate sales. You have a lot in your hands to win. Do not hesitate to call on specialists to assist you in achieving your goals.