Security Business

JUN 2018

Find news and information for the executive corporate security director, CSO, facility manager and assets protection manager on issues of policy, products, incidents, risk management, threat assessments and preparedness.

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26 Security Dealer & Integrator / June 2018 you define the characteristics of the ideal customer and use disci- pline to pursue only these types of prospects, then everything becomes easier. Salespeople will secure more appointments, they will have more credibility because of the previous performance, and you will be able to fulfill the project with higher quality and more profitable results. Potential Obstacle: Limiting your descriptions to vertical markets. To get the most out of this exercise, be sure to dig deeper into the descrip- tors of the organization – such as number of employees, square foot- age, risk aversion, types of security problems, location and of course, vertical market. Have each salesperson create a list of targeted pros- pects. Once the ideal customer is defined, each salesperson should create a list of prospective accounts that fit that description. Make sure each person knows how many pros- pects they should have on their list – the number should vary. For example, a seasoned salesper- son with current accounts generat- ing $2 million per year should prob- ably focus on penetrating about 10 new accounts; however, a brand-new salesperson could have as many as 200-300 prospective new customers on their list. Potential Obstacle: Salespeople half-heartedly creating their lists. You know the scenario – you ask for their list by Friday at noon, and everyone on your team is scram- bling at 11:55. Do not make this project a one-time event. Ask for their initial lists, schedule a review, ask them to make certain changes and then schedule another review. Perform this routine up to four times until they get their lists correct. Track their progress of penetrating new accounts. Just like you track sales with the utmost detail, the progress of penetrating new accounts should also be tracked. Whether you use a CRM or an Excel spreadsheet, you should be working with your salespeople on their new account activity on a bi-weekly basis. Activity can be measured in specific stages, such as: attempted contact, contacted, conducted a meeting, deliv- ered a proposal, etc. Potential Obstacle: Salespeople exaggerating about their hard work. To avoid or minimize this obsta- cle, schedule specific goals for every meeting. Specific goals could be achievements – such as scheduling five appointments with companies on their list; contacting 50 specific com- panies on the list; or sending an email blast to all companies on the list. If you set specific goals, comments like "I'm trying, but not getting anywhere" will be reduced. Pay more commission for sales to new accounts. Many companies do this, but the variance is not enough to make an impact. If you are paying 4 percent on current busi- ness and 5 percent on new accounts, then you are just giving away a point my current customers to be able to do anything else" – unfortunately, those are famous last words. When you are so busy, penetrat- ing new markets and developing new customers is difficult. I don't mean to make light of it or imply that sales- people are being lazy; on the con- trary, most are working harder than ever. Still, capturing greater market share is critical to long-term success. How to Land New Business Living off the expansion of your current customers is fine right now, but what will happen when the economy shrinks again in a few years? If your sales team starts look- ing for new accounts when the econ- omy is slowing, then they are a couple years too late. Your sales team must be in the habit of generating new accounts and winning new business, and that takes proactive behavior – it doesn't just start happening spontaneously. e following are are eight ideas that will help them find and win new accounts, with a general description of what to do and a potential obstacle that could get in the way of success. Implement one or two of the ideas, and aer they work and you feel com- fortable, bring on a few of the oth- ers. Aer a year or so, you will see a major shi in your team's behavior – they will be searching for and captur- ing new accounts, and growing your company's market share. Define the ideal customer. If you are going to proactively pursue new customers, then you need to invest your time on companies that look like your best customers. Once The Money Issue Modern Selling

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