It was a stretch sales goal, but it seemed possible to the team just 3 months ago. Now the quarter has ended and you are far from meeting your sales quota. Clearly you have some ground to make up and you need a better plan…one that will take advantage of the key strategic accounts where you have some leverage, and one that will synch sales team efforts so that your salesforce is performing at their peak.
Start by taking a close look at your current accounts. This is where you have the greatest potential for profitable revenue within a relatively short sales cycle. After all, you have established the relationships you need, you know the decision-making process and you understand their business. You’ve done well there because you have partnered effectively to solve the problems they brought to you. But what about uncovering pressing problems that may not yet have surfaced?
Work with your entire sales and service team to identify possible undefined objectives, complications or needs. Use the team to look at all your top tier accounts for creative solutions and new ways to penetrate the customer organization. Conduct no-holds-barred discussions where different perspectives are welcomed. Who knows what untapped opportunities the team can identify?
Next, your strategic account planning should look toward accounts that still need to be developed. Make a list of those organizations where there is some potential and then rate them according to forecasted sales.
You need to define what constitutes your ideal target customer and then apply that template to the customers on your list. Know where you are most likely to win in terms of organization size, buyer role, awareness of need, readiness and ability to buy, etc. The list can be divided into three categories: High Potential, Unknown or Medium Potential, and Low Potential. Your team’s sales time and focus should relentlessly be spent accordingly.
Establish the sales plan and go for it! Coach your team members to follow the prescribed account strategy and unabashedly reward those who do. When your sales force is invested in the plan because they helped create it, they will be motivated to work together and support one another toward achieving the team goal. They may not display the kind of precision of the Blue Angels in flight, but they will work more effectively as a team with a well-conceived plan.
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