Now, that is a loaded question. I hardly knew where to start.
Here is a check list of questions you need to find answers to before you develop a strategy to increase your sales from a current customer:
1. What percentage of your current customer base is being consumed by this customer?
2. What percentage of the total business do you have with the customer vs. other vendors?
3. Is there currently a preferred vendor?
4. What percentage of the business would a preferred vendor have? Is there a strategic cap?
5. How does a minor player become a preferred vendor?
6. What is preventing you from becoming a preferred vendor?
7. Who makes the decision on who becomes a preferred vendor?
These seven questions and the respective answers should get the ball rolling.
As a side bar, many sales professionals don’t strive to become the key supplier at a given account. They seem happy just getting some business. On the other hand, the top sales performers understand that in every account someone is getting the lion’s share of the business.
Positioning themselves to become the “top dog” is their daily mantra!
They are creating strategies and tactics to achieve preferred vendor status on a frequent basis, and then put those tactics in place. They simply don’t accept the notion of being a secondary source or the status quo.
Statistics demonstrate that 20% of all sales professionals are the one who sell 80% of the business. Pareto’s rule is alive and well. It’s not luck, but understanding that all accounts have a preferred vendor and putting forth superior effort to become #1.
Copyright © 2014 Dave Neal
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