Monday, July 11, 2011

The Big One

An opportunity for a big deal is lurking in your account base, and while finding it may not be easy, it could be very lucrative when you focus on these areas.

Know exactly what you sell.
Big deals are built by bundling products and services into a single high-value solution. To identify winning combinations, hone your expertise on all the products and services your company offers. Sell on your strengths. Understand your weaknesses and be prepared to answer related objections.

Know why customers buy.
Both Starbucks and McDonald's sell coffee. Beyond price considerations, there are many reasons why some buyers prefer Starbucks while others prefer McDonald's. McDonald's has more lunch choices on its fast food menu and caters to kids. Starbucks, with its upscale coffee shop vibe, is more likely to be the destination of choice for business people meeting for coffee.

You know why you prefer Starbucks or McDonald's. To sell big deals you need to know why customers prefer you.

Identify your customer’s big problems.
Big deals come about because smart salespeople eliminate big problems related to:
• Inefficient processes.
• Low productivity.
• Excessive costs.
• Missed opportunities for higher revenues or increased profit.

More on "The Big One" Wednesday.

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