Hunting For New Business
How sustainable and effective is your new business approach? Are these your business development challenges?
”We constantly recycle the same sales pipeline and named account lists.”
“Our deals are not large enough to compensate for revenue erosion.”
“We need a new business and hunting focus in our named and new logo accounts.”
“We are trapped hunting at the procurement and departmental level.”
“Our sales-force avoids hunting in the ﬁeld in favour of account management.”
“Emerging markets is not part of our hunting / new business strategy.”
“The sales organisation has no consistent approach for hunting and prospecting.”
Hunting activity is diluted for a number of reasons…
- Sales person passive mindset of waiting for low hanging fruit
- Sales person focus naturally gravitates to day to day ﬁre-ﬁghting on the account
- Absence of approach/method for focussed email and telephone activity per week/month
- Inadequate research and ownership of target market or contact list
- Attitude and skill level of the sales person / this is often wrongly assumed if experienced
- Lack of capability for cold calling at C level at the outset
If the typical customer challenges and mindset resonates with you then it’s time to develop the sales organisation, improving sales performance to hunt new business.
Research shows that the chances of winning RFP’s is less than 5% if you are a new vendor and 65% if you are the incumbent. This tells you that you must get ahead of the RFP cycle by hunting but you need to be really efficient and well organised to capitalise on your efforts.
There are two ways to approach the skills development:
1. Focused hunting using a C level engagement approach selling into new logos.
This is a highly intensive, interactive; results orientated workshop and interventions aimed at senior sales people. The key is to aim high at the outset and to conﬁrm C level meetings with brand new contacts in either existing or new logo accounts. We brainstorm with the salesperson and agree the engagement method and entry into the account.
- Introduction from your own Executives
- Technology partner introduction
- Third Party consultant introduction
- Target logo buys from your company
- Just the sales person’s ingenuity with the right ROI message
- Develop the speciﬁc proposition and references aligned with the account
The Programme develops all the prerequisite Hunting selling skills required for success and includes every aspect of communication skills with quality feedback provided to ensure sustainable behavioural change.
2. Hunting approach across the entire salesperson territory
This is a live cold calling event with all the pre-requisite skills for hunting multiple level decision makers. The objective is to make telephone appointments, generating conﬁrmed meetings with brand new contacts. The event is designed to inject the entire sales team with a new business mindset.
During the event salespeople develop the right attitude and ﬁne tune their hunting skills, learning how to work in a highly disciplined way, improve messaging, objection handling and key communication skills. It’s all about making salespeople comfortable in picking up the phone. Our approach gives a structure as well as conﬁdence, energy and motivation.
Return on Investment
You can expect and uplift in the following areas with the right coaching follow up:
- Increase in sales activity to new contacts
- Developed sales ready pipeline
- More orders
- Growth in sales revenue
- New logos
- A hunting mindset in the sales organisation