This week’s blog comes to us from Steve Waterhouse, CEO of Predictive Results.
In this market, you need aggressive hunters and loving farmers. The rules have intensified for the farmers, but changed completely for the hunters.
In the her March 12 interview with Dave Stein, Naviga CEO Kathleen Steffey commented that she was currently seeing growth from existing clients more than from new clients in this tough economy. In other words, the farmers are doing their job of maintaining and growing the existing business, but the hunters are missing their mark and failing to bring in the new business.
Here is what hunters need to do differently to win in this market:
- Sell to the CEO – In tough markets, lower level people lose their buying power and only the top people can make decisions to spend. If you are hearing “we just aren’t spending now,” you are probably selling too low.
- Sell fast, high, certain ROI – Every CEO will spend a dime to get a dollar. In tough times, all that changes is that they want a better return, they want it faster, and they want it guaranteed.
- Work from referrals – As people become afraid of risk, use referrals to get beyond it. A referral gives the buyer the “guarantee” that it worked for a friend and it should work for them. Closing ratios on referral business are twice as high as standard leads.
What makes these changes tough is that you may not have people in place who have the strong personality and C-Level skills to pull off these strategies. Now is the time to take a close look at your sales team to ensure that you have the people you need to get the job done.
The good news is that there have never been more qualified people on the market than there are today.