Few days back, I wrote an article “I couldn’t realize, I have this much of spare time” on utilizing spare timings for effective time management in day to day activities. You may read the article by clicking on following link (https://onionlayers.blog/2018/01/19/practical-time-management-tips-for-sales-professionals). It is relatively easy to find out spare time in daily routine. What about wasting both time and effort, while doing something with concrete objective? Have you ever thought of it?
As a sales person, you devote most of your time handling prospects or customers. You may be having sound selling skill, but if you will not manager this entire activity well, you will end up losing your valuable time. Let us see, what are the various time wastage points and how to overcome these.
1. No priority listing for prospects/customers
Pursuing prospects with little chance of buying or no immediate requirements is a clear waste of your cycles. Unfortunately, many sales persons continue to commit such mistakes by giving similar priority to all the customers.
Segregating customers based on priorities will always take you to an extra gear. To make it clear, let me share a model of customer categories, which I collected from a key account manager hailed from a leading medical instrument manufacturer (Note- Actual model was very extensive and complex. For blogging purpose, this was simplified)
|< $ 10,000||>$ 10,000|
|No immediate requirement||PN|
At regular intervals, such lists should be updated and relative timing should be devoted to prospects/customers as per their priority.
2. Poor records keeping
As you work for multiple opportunities, you need to keep track of all the activities associated with those potential deals. Added to this, customer behavior and requirements are highly varying in B2B environment. That’s why it is essential to log minute details of your calls and other interactions. Unfortunately, this is the weak point of majority of sales persons. If you think deeply, it takes only a couple of minutes to record details of any customer meeting, while missing details will cost huge time and effort. Take help of technology. You may use any CRM systems like Salesforce, HubSpot etc. Gmail is also providing its sales navigator. Just on a single click, you can easily capture or see essential information about your customer.
3. Engaging single point contact
Decision making system is mostly multilevel in B2B environment, involving a set of people. In such system, if you are trying to engage only one person you’ve identified as the key decision maker, you are making big mistake. First thing, your contact is just a part of a large committee and his/her influence on a crucial decision will be limited. Second, all your effort and time will be plummet to zero if that your contact person moves on. A multi-threaded approach, nurturing multiple relationships is right approach, that will enable you not only to prepare a comprehensive offering for your prospect, but also to handle possible odds of deal easily.
Please share your views and suggestions.