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The path of least resistance is often ideal in sales. If you get an inbound lead and they know exactly what they want, get the deal done, and then go for the upsell. I’ve learned it’s not wise to add friction when a prospect is ready, willing, and able to buy.
I have noticed a few key paths to uncover revenue these past few weeks. The quickest and most consistent path to success seems to be for the account executives who are creating pipeline the fastest and closing deals.
Working in a greenfield account and closing net new business is hard! Budgets are tight, and buyers are much more informed about what solution they are looking for. The market is really loud, and most sellers are being bombarded with solutions that provide little to no value.
With quotas still in place and average quota attainments looking poor for many companies, what can you do?
Work with existing customers
It is so much easier to create new revenue from existing customers. However, most close a deal, pass it to customer success, and move on. This is not wise.
There is already recognized value with these contacts, so take advantage of that to have more conversations and share new solutions. I have found many new opportunities from accounts that have not been contacted since the initial purchase. It may take some extra work, but leverage that relationship to gain another or uncover new opportunities.
Closed lost opportunities
These opportunities are typically lost due to timing or changes in point of contact. It is the seller’s job to stay in contact and follow up with potential buyers. I can’t tell you how many times I’ve found a closed lost account and sent one email to the right person who opened an opportunity.
These accounts are often warm and are familiar with your solution. They have usually seen it or had many conversations about it already. There could be any number of reasons why they didn’t buy in the past. However, it’s a great opportunity to pick up where someone else left off.
Most CRMs now have a closed lost opportunities marked. Go and find them and start working them.
Past Users
Referrals are the best connections to get in front of new prospects. They are often warm and uncover tons of opportunities. The next best thing is a buyer who had a great experience in the past with your product!
Find ways to identify prospects who have used your product or service at a prior company and who have just taken a new role at a new company. These are golden opportunities. These people are normally in a similar role and are tasked with making impactful changes. Your solution could be that change.
There are few tools that will reveal this information, like UserGems. However, you can often find these people in LinkedIn Sales Navigator.
Sales is often about figuring things out that may not be obvious, just as much as it is about communication skills and persistence. Find out what is working in your company and do it, then get creative to uncover new ways to get a buyer's attention.
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Until next time,
Tajh
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