10 Easy Sales Strategies for Small Companies
By: Geoffrey James
Author, "How to Say It: Business to Business Selling"
Author, "How to Say It: Business to Business Selling"
GUEST AUTHOR
BLOG by Geoffrey James author of: "How
to Say It: Business to Business Selling."
Selling for a small firm is harder
than selling for a large one. Your customer may never have heard of your firm,
there’s probably not much sales support, and you likely can’t spend big money to
develop and close an account. Nevertheless, it’s not just possible, but
downright easy, to outsell the big guys.
All you need are these simple
rules:
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• Strategy #2: Treat
Your Weaknesses as Strengths. Customers may not know your firm (a
weakness) but they don't have negative preconceptions either (a strength). You
may not have an expense account for a fancy lunch (a weakness) but you can show
your customer that you don’t waste money (a strength). Your firm might have
meager higher prices (a weakness) but you’re willing to craft flexible terms (a
strength.)
• Strategy #3: Exhibit
Extreme Confidence. People who sell for small firms can scuttle
their credibility by trying to explain away the inexperience or size of their
firm. Savvy customers smell that fear and see it as a signal to demand steep
discounts or concessions. Convince yourself (and thence the customer) that a
customer would be foolish or crazy to buy from anyone else.
• Strategy #4: Don’t be
Afraid to Bail. Wishful thinking can propel you into a world of
wasted effort. Once it becomes clear that a deal doesn't make sense or will take
to much effort to close, it's not worth pursuing. For example, if you can't meet
with the REAL decision-maker, you aren't going to get the business. So move on
to the next prospect, without regrets.
• Strategy #5: Be Your
Company’s Brand. A “brand experience” is the emotion a customer
feels when buying or using a product. A sales rep working for IBM or Bristol
Myers only needs a business card to create a brand experience. By contrast, when
you're selling for a small firm, the “brand experience” consists of YOUR
appearance, YOUR voice, and YOUR ability to solve problems.
• Strategy #6: Think
Like an Entrepreneur. Since your firm lacks the infrastructure of a
larger firm, the only person you can trust to get things done is YOU. Be frugal
with your time and resources, and constantly find creative ways to get things
done more quickly and easily. Remember: “activity” multiplied by “hours spent”
equals “sales results.” Make everything you do lead towards those results.
"To compete
with a larger firm there’s got to have something different. Your product must
higher quality, easier to use, more convenient to buy, or a better fit than the
competition’s."
Geoffrey JamesAuthor, "How to Say It"
Geoffrey JamesAuthor, "How to Say It"
• Strategy #7: No Free
Consulting. When a customer asks you do to something for free, your
response must ALWAYS be to ask for something comparable in return. For example,
if a customer asks you to provide them with an RFP based upon 35 pages of
questions, insist that you'll only do the work if you're guaranteed a meeting
with the CEO to present your solution.
• Strategy #8: Have a
Low Threshold of “NO.” Never cave to a customer who's being
unreasonable. Maybe your larger competitor can afford to kowtow in order to win
the business, but you don't have the luxury of being anything less than the
best. And the best in any industry NEVER truckle. Be cooperative but be
constantly aware of your true worth to the customer.
• Strategy #9: Be Your
Firm’s Greatest Strength. Top executives don't have the time to sit
with down with cookie-cutter sales reps, but they always have time for somebody
who can redefine problems and devise solutions. If you can truly add value,
you’re the most valuable person that CEO will meet with that day, maybe that
month, maybe even that year.
• Strategy #10: Take
Responsibility for Your Skills. Big firms have the money to hire
professional sales trainers, run sales mentoring programs, and employ sales
managers to coach novices. In a small firm, it’s up to you (and you alone) to
constantly hone your sales skills, learn new sales techniques, and develop your
sales career.
Geoffrey James, an
award-winning journalist and author, writes a daily column on selling for
Inc.com. He previously wrote Sales Machine, the world's most-visited
sales-oriented blog, and has written hundreds of articles for publications like
Technology Marketing and SellingPower. James' new book, based on his most
popular columns (by reader acclaim), is How
to Say It: Business to Business Selling (Prentice
Hall, December 2011.)
© 2011 CNBC.com
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