Deciding to acquire new customers Vs growing and retaining existing customers can be a fine balance in any business as given that it costs around 7 times more to acquire new customers and with a 5-25% success rate businesses can quickly and easily burn through cash as they seek to grow their market share.
It is easy on a practical level to list numerous prospects you would like to convert to customers, but our course teaches that firstly any new client acquisitions must be considered against the vision of your business. Conducting a cost to serve analysis at the earliest opportunity along with understanding the cost and timescale to convert the prospect to a client Vs the Customer Lifetime Value (LTV) all need careful consideration.
It is critical that business development people know the channels that new prospects are coming from, how to nurture them along the sales pipeline and what to do when the prospect stalls. The course looks at analysing how many prospects are converting, where and how they are converting and critically how many prospects need to be in the sales funnel to ensure that the growth is being met.
We continually see many businesses not having a clear process to assign a new client to inside/outside sales but rather the client staying with the business development person for an indefinite time. By not assigning the account over to a retention team after winning the business stunts your growth as the “hunter” has to turn into a “farmer” nurturing the account to win future business.
Why your team needs sales training
The lifetime value of referred customers is on average 16% higher than that of non-referred customers.
Personalised emails improve click-through rates by 14% and conversion rates by 10%.
CRM system adoption increases sales by up to 29%
82% of B2B decision-makers think sales reps are unprepared
Who should attend Strategy, Business Development, Leaders
Duration 2 Days
Delivery Instructor-Led Workshop
Qualification Certificate in Professional Business Development
Location Customers Premises or external room hire*
Participants 12 - 15 people
Align growth to the vision of the organisation
Client expectation Vs your abilities
Resources to win and service the client account
Understanding where is the value in your offering to the customer
Learn what your customer most values
Relative Preference Data
Price Sensitive Analysis
Lead generation strategy
Sales channel opportunities
Inbound Vs Outbound marketing
Value proposition Vs Competitor
Forms of communication
Measuring and testing lead generation
Cascading to win
Selling when you are not the cheapest
Sales funnel and sales pipeline
Moving the prospect along the buying process
Handling the account over to the sales team
High Pay-Off Activities
Primary Contractor and Tier Supply chain selling
Safety and Security – soft and hard data, IP, talking outside, internet access