FCA hosted part one of a three part educational series on “The Top 4 Growth Strategies You Probably Don’t Know About” with Jim McBrayer this May 20. Here’s a quick recap of what was covered:
- On average, project managers and salespersons only spend about 30% of their time on high-value activities. The bulk of their time is spent on low-value activities.
- 5 Customer Categories:
- Preach to the converted – retaining customers (your best customers are someone else’s target).
- Cut the time wasters – quit playing the role of third bidder.
- Grow where you’re planted – increase the percentage of work you’re doing with current customers (e.g., you’re only doing 10 percent of the work they have available. Reach out and find out how you can increase that percentage).
- Follow the money – identify which segments will be hot.
- Gain new customers – take market share.
- Reasons decision-makers gave for agreeing to take a meeting:
- They want to expand their product offering.
- When their current supplier (your competition) is having problems.
- When they’re performing a product/supplier/contractor review.
- When they are having problems.
- When they want different ideas for solving their problems.
- When you reach out with relevant information to their challenges/priorities.
- Position yourself as a consultant/informational resource for potential customers.
- Growth strategies you probably don’t know about:
- Strategic introduction – transfer of credibility. Utilize an existing relationship between a good customer to get a direction introduction to a prospective customer.
- Capabilities briefing – not a sales meeting. Inform the prospective custom of your capabilities (and position yourself as a resource).
- Bounce meeting – set a future meeting now to discuss any job challenges/goals for if you win the job.
- Executive roundtable – bring in high-caliber executives from similar companies for a virtual meeting (limit to 8-12 attendees).
CLICK HERE TO LEARN MORE ABOUT PART 2 OF THIS EDUCATIONAL SERIES!