Situation: The CEO of a new company is struggling to generate sales momentum. Part of the issue is adequately productizing their current offer. A second issue is building a good sales team and sales momentum within the team. How do you productize an offer?
Advice from the CEOs:
- The issue may be that the company is regarding its product and the sales process too narrowly. Look at the sales process in new and different way.
- Role play the current sales-to-close process. Have salespeople document what they do. Look for a product concept that appears from this exercise.
- Try different models to determine what works best at the company’s current stage of growth.
- Position the company’s ability to deliver outcomes. Make it risk free if nothing is produced. “Here’s our package – it costs nothing if we don’t produce results as promised.”
- Consider specializing in services that enhance other companies’ sales – a need that is always present.
- Look at the car dealership model – lower level salespeople qualify prospects and bring the qualified prospects to more experienced colleagues for the close.
- How is the company currently positioned – as a generalist or a specialist? Potential clients more often look for a specialist to help them solve specific needs.
- Conduct local surveys to help define prospects’ and clients’ top needs.
- Start developing and advertising specialty areas. Add to the list of specialties as the company expands.
- To build the sales team look at younger salespeople currently with competitors. If these individuals have been recruited right out of school, they will often look for other opportunities after a year or two.
- Target good salespeople who are currently employed. Tell them that the company is interested in getting to know their business and look for salespeople who are good at selling themselves as well as their offering.