Are Your Clients On Your Competitor’s Sales Meeting Agenda?

Of course you’ve realised that just as you are holding your weekly or monthly sales meetings, so are your competitors.

Right now – on your competitor’s sales meeting agenda, it’s more than likely that they are busy “plotting and scheming” on how to take your biggest clients right from under your nose.

Sound dramatic? Not really. Just as you have their existing customers in your sights, they have yours in theirs. When you’re discussing when THAT big contract comes to an end and what your strategy is to jump in at the right time, chances are that they are doing exactly the same with your biggest contracts too.

The sales lesson? Make sure you are looking after your existing clients really carefully. Your competitors are always hoping that you mess up really badly.  They are looking to get their foot in the door. Your job is to keep it tightly shut. Locked and bolted.

There is absolutely no point in working your butt off to create new opportunities in your pipeline when your  client base is dwindling due to bad service. It’s like filling up the bath and taking out the plug at the same time. Your net sales gain at the end of the year will be almost zero.

A case in point: I consulted to a large organisation a while back and was tasked with helping the sales team focus on new opportunities, tracking them with laser-beam accuracy.  By monitoring their overall sales efforts, it soon became obvious to me that the folks managing their ecurrent client base weren’t doing their jobs particularly well and/or perhaps management’s will to address the problems was lacking.

Their customer service was so bad that they were shedding clients regularly – almost on a monthly basis. The new business folks were taking a great deal of flak from prospects about their name in the marketplace for poor service and standards. This made the acquisition of new business even more difficult.

Although I brought it to their attention, senior management still insisted on concentrating all their efforts on the sales pipeline as a way to increase their market share and sales figures.  And no, the contracts that their competitors were taking from them  were not ones they wanted to lose – far from it.  Now, a few years later they are still in the same boat – healthy pipeline, unhealthy overall net sales results.

If your type of sale is repeatable, expandable, annuity-based, contract based or similar, invest in your client base. Guard it carefully.  AND go after those rather appealing new prospects.

Have a sales point of view?

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s