When a salesperson is considering whether to spend time and resources pursuing an opportunity that may or may not come to pass, what it really comes down to is making a choice between chasing every opportunity and managing your territory like a business. This is why the salesperson, with their manager’s guidance, needs to do a thorough analysis of the opportunity as follows:
Ability to Deliver:
First, understand if your company has the ability to deliver a solution that satisfies the needs of the client:
Cost of Sale:
Then, analyze the cost to capture and maintain the account:
Relationship:
Review your relationship with the account:
Value of Win:
And finally, ask yourself, Is this opportunity worth winning?
Salespeople must manage their territory as a business—able to assess the win-ability of an opportunity before committing expensive resources and wasting valuable time pursuing barren opportunities.
Ability to Deliver:
First, understand if your company has the ability to deliver a solution that satisfies the needs of the client:
- Are we able to deliver?
- Are my organization’s capabilities compatible with the customer’s needs?
- Will my products/capabilities satisfy these needs?
Cost of Sale:
Then, analyze the cost to capture and maintain the account:
- Is this opportunity worth the time?
- Will servicing this account allow sufficient time for me to work with other customers or prospects
- Will my organization be able to handle the demands resulting from this sale?
Relationship:
Review your relationship with the account:
- Is it positive?
- Have sound relationships with key players been established?
- Have buying roles, decision-making style, business goals and needs been uncovered and analyzed?
- Have strong negative influences been won over?
- Can you count on support from positive influences?
Value of Win:
And finally, ask yourself, Is this opportunity worth winning?
- Will the short-term revenues meet or exceed my account goals?
- Does this opportunity represent an acceptable return on investment?
- If the revenue is less than desired, will the prestige or strategic value associated with the account create other opportunities?
Salespeople must manage their territory as a business—able to assess the win-ability of an opportunity before committing expensive resources and wasting valuable time pursuing barren opportunities.
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