July 12, 2022 2 minute read
RICHARD WRIGHT
Managing Director at ASPIRE Account Management
SALES PROPOSITIONS & OPPORTUNITIES
Where a Company’s organisation structure accommodates a formal sales team, sales and marketing activities will take place both inside & outside the Account Management (AM) process.
So, if there is no formal sales team, procedures relating to major bids, sales proposals, negotiation, etc. will need to be incorporated into the AM process. Where there is a formal sales team, their progress and risk management results will be fed through to the Account Manager on an agreed frequency.
However, as your Client Account will not survive without new business, everyone who represents your Company must be constantly on the lookout for opportunities to secure further work, no matter how small. Their 'sales-related antenna' should always be up, seeking opportunities to:
win work informally
be invited to bid for assignments, projects, services, people placements &/or products.
improve reputations and your Company's standing at any level in the Client organisation
enhance their own Client knowledge by attending presentations, briefings, meetings, social events, etc.
Also, you need to 'think outside of the box'. Ask yourself, ‘is there an opportunity here ?' (for you, others or your Company). Opportunities are often disguised, camouflaged by the hubbub of the Client's day-to day business activity. It will help to put yourself in the position of the Client and think on their behalf, look at things from their perspective.
Ask yourself why things are being done the way they are, what's the rationale, the justification - can you think of ways to make things easier, quicker, less stressful? (this will be 'adding value' which is particularly important when you are compared against the Competition).
Always be looking for a new revenue stream - stand back, think it through, what are the options/alternatives, apply some lateral thinking.
Also, when an ‘opportunity’ seems very difficult to deliver initially, be careful not to decline until a brainstorming session has been conducted.
Finally, never ignore or delay in responding to a Client request and remember that if you delegate you must ensure that you chase it up quickly (from the Client's perspective, you’re the person running with it, it’s your credibility that's on the line).
Some example checks, tips & questions are given below.
Essential cross references to other key-related AM areas are also given to ensure watertight coverage of the Client.
PROPOSITIONS
Whenever proactively seeking any new business with a Client or Prospect, the following questions should be asked:
does your Company have any propositions which specifically relate to a current need and/or problem already identified?
each product/offering/proposition will need to be ‘wrapped’/‘packaged’ in such a way that it appears to be specifically constructed for the individual Client
· tailor propositions to reflect/address specific Client issues, drivers and opportunities.
how & where will propositions add value/benefit to the Client?
Click here for another 15 checks & tips
OPPORTUNITIES
does your Company need to be a Preferred Supplier?
do you have access to influencers & decision makers?
are the right people available to prepare the Sales Proposal, negotiate and take the order?
are third parties involved?
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PRACTICE
be proactive and seen as delivering ‘value add’ because opportunities frequently follow on from this - make sure you are tipped off regarding Client issues which you, colleagues or your Company may be able to quickly/easily resolve, free of charge
sell (promote) yourself, your colleagues, your Company; what makes your Company special (values, ethos & culture) but ensure compatibility with the Client; they have to like you, the two organisations have to be compatible - develop synergy
keep yourself and colleagues up to date regarding your Company's offerings but be very careful not to give the impression that you’re the experts even if some colleagues are very keen to be involved; there is a big potential danger here as opportunities for new work are often lost because the wrong people are involved. Enthusiasm alone is very dangerous
examples of your Company's successes should be highlighted wherever/whenever possible (particularly where there is a long-term trusting relationship) - anyone representing your Company on the Client site should have these to hand
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THE COMPETITION
your Company must have up-to-date appraisals of the Competition which include strengths & weaknesses.
elaborate on your own, your colleague's and your Company's attributes/benefits. You therefore make it obvious where the Competition doesn't stack up against you - it's then very clear where the Competition's shortcomings are without directly saying so.
Click here for another 5 checks & tips
QUALIFICATION
regardless of whether it originates from the Client (Need/Opportunity) or from an initiative by your own Company (Proposition/Opportunity), it will be crucial to qualify each potential order throughout the sales process as circumstances, knowledge and relationships will be constantly changing on both sides
although you may have an excellent relationship with your Client contact and believe that you're home and dry regarding a particular opportunity, it must be qualified in a disciplined way. Never underestimate Clients; sometimes they are far more clever and devious than you think - a Competitor may be feeling just as confident as you, maybe even more so!
the qualification process also requires discipline and objectivity because although a sales order can be there for the taking, there may be sound business reasons not to continue. So, to ensure there is such discipline, people who are entirely neutral should also be included in the qualification/decision making process
because of this, the qualification process should be rigorously followed, remembering that you may need to qualify out at any stage of the sales process
each time you 'qualify', the Sales Action Plan must be updated.
Click here for another 72 checks & tips
ESSENTIAL CROSS REFERENCE
CLICK HERE FOR COMPLETE LIST OF ALL CHECKS & TIPS
BEST PRACTICE QUOTE 7 OF 12
“without opportunities for sales there is no future”
Another 20+ components of account management can be found at ASPIRE Account Management together with over 300 free checks & tips - all of which aim to significantly improve supplier performance and block the competition.
NEXT POST: Sales Opportunity Qualification
Account Management Blogs - the series:
Introduction to Account Management
Understanding Your Clients
Supplier Values, Ethos & Image
The Account Manager
Client Relationship Management
Client Contact Management
Sales Propositions & Opportunities (today)
Sales Opportunity Qualification
Balanced Scorecard
Client Account Performance Reviews
Client Satisfaction Surveys
Risk Management
As these blogs will be geared to anyone engaged in developing new business with clients or prospects, and for ease of context, I’ll regard all readers as account managers as everyone has the same endgame, no offence!
I really hope you, your colleagues & business associates find value in these blogs; please let me know either way. Please also get in touch if you think there might be potential for our businesses to collaborate.
25 modules, 1500 checks & tips - best practice at its practical best
ASPIRE Mission Statement: "As the new business world emerges, enable suppliers to minimise risk in all that they do with particular focus on client retention, increased productivity & business growth"