- 5 Decision Roles in Every Sale
"It was like a phantom swooped in in the eleventh hour and killed the sale."
We've all been there...You had a series of great meetings. You built rapport and developed a strong, trusted relationship. You uncovered (and got agreement) on the buyer's needs—needs that they didn't even know they had. You spent days working with your delivery team to scope the project and craft the proposal. You sent it off to your contact and called him at the time you had scheduled to review it:
Buyer: "Thanks for putting this together. You've really hit the nail on the head outlining our company’s needs. I like the phase-by-phase approach you're proposing, allowing us to make adjustments along the way. I just need to have Brian take a look and give the green light."
You: "Wait. Brian? Who's Brian?"[click to continue...]
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- Infographic: 10 Steps for Growing Your Key Accounts
Retaining current customers costs 6-7x less than acquiring news ones, and improving customer retention rates by a mere 5% can increase profit per customer by 25%-95%. So it makes sense that top companies focus on building relationships, increasing loyalty, and selling more to current customers as a growth strategy.
Based on our extensive research in strategic account management, we've identified 10 steps you can take to replicate their successes.[click to continue...]
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- Likability in Sales – Does it Matter?
Years ago, I was working for a company that had just made the decision to go public. After a lengthy deliberation, the company chose a particular big-five firm (at the time there were five) to handle the preparations for our public offering. Curious, I asked the chief financial officer how he made the decision.
He invited me to his office and showed me a chart of all the qualifications and decision criteria and how each firm stacked up. It was obvious there was a clear winner.
Then he asked me if I wanted to know how he had really made the decision. Of course, I said yes. He said, "Close the door." Intriguing...[click to continue...]
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- Top 10 Strategic Account Management Challenges [Research]
When it comes to growing accounts, challenges abound. In our Benchmark Report on High Performance in Strategic Account Management, we asked:
Consider the challenges your company faces in strategic account management. For each factor indicate how challenging it is to your company's SAM efforts.
Here are the results.[click to continue...]
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- The #1 Action for Strategic Account Growth [Research]
Companies take lots of actions to grow accounts. Some work better than others.
However, none of them work very well if you don't take care of one important action up front.
We at RAIN Group studied more than 370 companies that engage in formal strategic account management, and published the results in the Benchmark Report on High Performance in Strategic Account Management.
We asked: What ACTIONS do you believe contribute most to your efforts to maximize revenue from accounts? We then split the results into 2 groups: high performers and below-average/average performers in SAM.
Here's what the high performers do to maximize revenue at their accounts.[click to continue...]
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