If you manage a sales team, then you probably are aware that time is of the essence in the sales process. You have to work fast but cautiously to manage your responsibilities if you hope to be successful and profitable. You need to determine which potential clients are more apt to be profitable, so you know where to concentrate your time and energy. Below are 6 steps to determine which clients are profitable.
1. Evaluate Client Receptiveness
Working in sales isn’t easy. If your prospective client is arrogant, disrespectful, and disinterested, then that will tell you that they will probably not be profitable. Even if you can get a sale out of them, you will have to work extremely hard to do it. It’s better to concentrate your efforts on clients that are more receptive to your products and services.
2. Look at the Level of Difficulty
Some customers can be extremely demanding. They carry on as if they are your only customer. No matter how well you do your job, it will most likely not be enough for them. These types of clients will be very time consuming, so they will not be near as profitable as other sales leads. If you have a client that seems impossible to please, then it is probably a good idea to steer clear and move on to the next sales lead.
3. Financial Feasibility
While prospective clients are good customers at all income levels, you will not profit nearly as much serving clients with low incomes as you will more prosperous clients. A good rule of thumb is to concentrate on prosperous clients heavily, while giving lower income clients the respect and attention they deserve as well. You need to balance your time to make it happen. Your profits will soar if you have a good handle on the needs of all clients.
4. Judging Interest
When your sales lead states that they are looking at multiple companies, they are either trying to gain leverage for negotiation purposes, or they lack knowledge about the industry. If you place your focus on this type of client, they will be comparing every single detail to what your competitor’s offer. This could turn into a real hassle, and it could eat away at your precious time. Clients that are interested in your products and services are the most profitable.
5. Snap up Referrals
When you receive referrals, you will have a much better chance at getting a profitable client. Clients know they can place their trust in your products and services if they have a relationship with someone who is already your client. Take advantage of referrals, and watch your profits soar to new heights.
6. Don’t Discriminate
Just because a client appears like they will not be profitable, it doesn’t mean that they don’t have the means to buy your products or services. Never judge a book by its cover. If you have a good reputation for being respectful to all clients, you will see much more profitability.
Determining whether or not a client is profitable will vary from industry to industry. The above 6 step process is simply a general guideline to follow. If you need help with your sales, consider working with a professional sales coach.