2. The Strategic Crisis
A strategic challenge occurs when sales decline due to an ad-hoc approach or when the sales strategy adopted is no longer working. Successful relationship pipeline management requires three distinct strategies to be formulated and executed:
- Strategies for generating potential relationships and converting them into client relationships: most organisations provide leads to their sales organisations, but great performers creatively add new sources and they identify meaningful justifications as to why it is in the interests of the client to act now.
- Strategies for increasing the depth of existing client relationships: for example, by increasing the extent to which the client may be assisted or by providing someone to manage their enquiries when you are not available or required.
- Strategies for allocating resources across pipeline stages to ensure a steady flow of sales: many great sales generators manage the prospect pipeline themselves until the initial sale is completed and then have a support team that assists with managing post sales and ongoing services.
We can’t always be there personally, but we can ensure that help will be available when the client needs it. Great sales generators anticipate client needs and ensure the ability to respond when required.
TIP: Build a team or outsource to improve your ability to continuously develop client relationships and to respond to new business opportunities as they arise -- opportunity windows are tending to close more rapidly.
Up next: The Motivational Challenge