Developing Revenue Generating Relationships
Sales professionals understand that the quality of their relationships is crucial in generating sales revenues. These critical relationships begin during the lead generating process then blossom and mature from there.
Whole books could be written about developing revenue-generating relationships, but here’s the least you need to know and understand.
Lead generation is a marketing activity.
The purpose of marketing is attracting potential end-users of the products and services you sell.
In B2B environments most purchases are based on finding a solution or satisfying a need.
Purchasing begins as a rational activity that usually culminates with an emotional decision.
Developing and enhancing a revenue generating relationship with customers and prospects is a process that takes time, which is why prioritizing prospects and customers is critical. Furthering sales relationships costs virtually nothing but time, yet it pays great dividends.
In the real world, prospects advance through a series of marketing and sales activities to sales presentations. Based on closing ratios, some percentage of sales presentations results in a sale. Those sales result in the prospect awarding you approved vendor status.
Approved vendor status represents step one in the sales relationship. Step last is becoming your customer’s trusted partner. The steps in between depend on the complexity of your company’s product and service offerings.
Your industry knowledge, in addition to your interpersonal skills, are the key ingredients in enhancing relationships with prospects and customers. Before beginning your sales moves consider first being a consult. Find out what your prospect’s needs, what his problems and challenges are. Then show how your company’s products and services resolve those issues. There is no better way to develop relationships than consultive selling. You get that right and you will not only sell more you will rapidly make progress in your quest to become a trusted partner.