For this example, I will assume your business is established, has a product that the Market wants and you have the ability to deliver more than you currently do. Still with me, good.

Subject breaks down into 3 core areas

1. Leads
2. Opportunities
3. Leverage

1. Leads

It is essential that you capture and qualify leads at the ealiest stage.  Capture the basics (project, potential, key contacts, timelines), in short sufficient information to be able to take the lead to the next level.

Once captured, qualify the lead against your core offering, other projects in similar markets, geographic coverage and all other factors that you feel necessary (note: at this stage I have not done a full financial profile on the customer, this can be done at a much later stage).

It is essential that you have a system that can capture leads and that this is reviewed on a frequent basis.  Leads will have a shelf life (again dependant on the nature of your market) but it can be interesting to see what customers are asking for and what you don’t currently offer but there appears to be a demand for.

2.  Opportunities

Definition of an opportunity, in my opinion, is a direct conversation with the potential customer (new or returning) where a specific project is under consideration.  Opportunities differ from leads in two specific ways:  Spec and Timeline.

Ensure that the opportunity (client application) is well understood.  Where it is going, what it is going to do and what the client expects your product to do may sound basic, but there is often a significant gap between what the client wants and what you think the client wants.

Ensure the contact is maintained and that all possible barriers to the sale are identified, discussed and removed.  It is essential that you understand the layers in the potential sale (user, technical specifier, commercial, etc) and that the concerns and key issues are addressed or mitigated on all.

Response time and accuracy is where you can shine ahead of your competition.  Make sure that the quotations, documents, conversations are accurate and response times are what the client expects.  If you can’t make a deadline date, tell the client early.  Most will accomodate an extention.  However, a request for an extention on the day before the due date does not bode well for the relationship or your ability to deliver on time and to spec.

3.  Leverage

Do not underestimate the power of a previous sale.  Nobody wants to buy untested/unproven technologies.  Using past examples, customer recommendations supports your case and shows understanding of the core client issues in their specified marketplace.  In short, do it well and ask that your satisfied client provides a reference for the quality work that you have delivered.

Your comments welcomed…

Every market needs fine detail and the trick is to get granularity.  How do you get granularity?  Ask the customer.  They will tell you (if you have already built a trusting relationship) what works and what doesn’t, what they love and what they wish they had more options for.

So before you write your next budget statement, ask yourself who supplies what, to who, from where and in what quantity or who is buying what from who, from where and in what quantity..

“Most entrepreneurs, marketers and salespeople focus too much on their own products. They tend to follow a strict, inflexible sales pitch, regardless of who they are selling to. Since they have spent so much time learning about the product’s features and technical details, they simply regurgitate what they had memorised instead of tailoring their product knowledge to fit each individual customer’s needs.

They forgot about the most important thing – What the Customer Wants. The sales pitch is NOT about the product and its features, it is about the customer.

While having in-depth product knowledge is essential, it is only useful when it can used to support the sales pitch. Being inflexible is one of the biggest mistakes a marketer/salesperson can make. They might alienate and even turn off the customers like the examples mentioned above.

If they want it “well done” and not bloody, give them that. If they want the orange, sell them that… and a cup of juice along with it.

No matter how good you think your product is, if they don’t enjoy it, they won’t come back. And if you frustrate them, they will probably spread the word. But they get what they want, they will most probably appreciate your customized service for them and come back again.

Are you selling what your customers want? Or are you selling what you have?”

He has a point, but I believe the approach is too simplistic.  If you are a general retailer and the customer wants something that is, general retail, then that is not outwith scope.  It may be out of stock, but not out of scope.  In contrast, if you provide complex data process solutions assessing customer default probability on real estate loans and someone asks you for a firewall, providing the quote, supply and aftercare may not be a useful use of your time, talent and resources.

As always, your comments welcolmed.

For example, if you niche was in Industrial secure power and as part of the client RFQ you included a small off-the-shelf commercial unit, bought in from a third party.  If the customer then asks to reduced the scope but for a quotation to supply the third part unit, should you quote?

Dilema is:-

1. Quote and supply a product with no additional value add on the basis that you are the one to satisfy the customer need?
2. No-bid as it is outwith your scope and adds no value to your product or service offering?
3. Introduce the client directly to the third-party supplier and jepordise further orders being “downgraded” to less robust technology?

Personally, I would suggest a full discussion on the actual needs and attempt to keep the full package together.  if the client is adament that the “simple” unit is broken out, I would no-bid the enquiry.

Your comments welcomed.