Welcome to our penultimate article in this series reviewing some of the most common sales-related challenges faced by SME leaders.
In each article we take on the key issue and offer some practical steps to help you to navigate through them.
If you are just joining us, you may also want to read:
The challenge: treating all customers the same
Every business has a finite amount of resources – time and money.
Your job as a business leader is to leverage these most effectively to achieve the optimal output. Part of this means knowing which customers you should be investing your valuable time and resources in.
Sounds simple, but we commonly see low value customers eating up a disproportionate amount of resource which would be better invested elsewhere.
It is important to put your organisation’s energy into developing relationships with potential high-growth customers so you can plan accordingly.
How do we resolve this?
When it comes to your customer base, it is not practical to have a specific plan for each customer, nor is it wise to treat all customers the same.
Segment your customers
Break down your customers into groups based upon what they represent to you.
This helps you to invest your sales efforts into customers who are more aligned with your sales needs.
Focus on the customer groups who are aligned to your current requirements and strategic direction. Decrease your focus on customers who don’t meet these requirements.
Consider your top customers
Assess the required level of business needed in the near and the longer term.
Determine which of these customers align to these requirements and prioritise those which offer you multiple benefits across different timeframes.
This saved energy will help your team to manage near-term performance whilst building a platform for long-term growth.
Create detailed account plans
Creating detailed, accurate and up-to-date account plans puts you in a position of strength with your most important customers.
An account plan should serve as a live, working document to help you develop your knowledge and relationships with a customer in a coordinated and meaningful way.
Do you have the tools you need for 2019?
BMC has provided sales performance services to business leaders and stakeholders for over 15 years. We quickly get clarity over your businesses real position, then focus on the areas which will have the most immediate impact on sales performance.
Contact our team today to learn more about how you can achieve better visibility of your business’s sales pipeline and lead your team to success in 2019.