The CEO of a small telephone-systems company sought to stand out in a sea of competitors in a market, which was going flat.
Flat Market Analysis
We took a close look at the company’s strengths, its ideal client profile, and its sales reps’ ability to position and sell at an executive level. We discovered that they had a unique advantage over their competitors in the region by conducting a flat market analysis.
They also had a clear concept of their ideal client profile. We were unsure if their reps could sell at an executive level, but they were hungry and coachable, so they had a good foundation from which to work.
We came up with a powerful approach to get the sales folks in the door at an executive level. Then we developed an educational executive presentation to highlight business issues and focus on the target executives’ frustrations.
After a few weeks, we were getting the first meeting at the executive level. However, the prospective clients sent the sales reps to other people in the companies for follow-up meetings. So, we added a compelling no-risk guarantee and a few additional selling skills to turn the delegation meeting into an implementation meeting.
In the first six months, sales went up 50%, with an additional 43 systems sold. Based on their no-risk guarantee, they had to refund one system, which they turned around and sold on the used market for a tiny profit, including the de-installation labor cost.
The Common Mistake
Most companies don’t recognize their strengths or know how to leverage them to create a huge selling advantage for themselves. Even in a flat market, performing a market analysis, a flat market analysis, refocusing sales efforts, and taking a little coaching can yield significant gains!