Fatal Sales Failures: Why Not Commoditize?
Anthony Iannarino on the topic of how to avoid commoditization.
Anthony Iannarino on the topic of how to avoid commoditization.
Occasionally my sales fantasies turn into realities. When it happens, it’s so
easy to be seduced by this low-hanging fruit. Outwardly, I try to appear calm, cool and collected – a true professional. But inside, every inch of my body wants to scream out, “Take me! Take me!”
If your perspective is outbound on the customer, you need to change your viewpoint. See and understand the world from the client’s perspective, internalize what they know, observe, and live everyday and you will have potentially earned the right to express your opinion; or, offer your advice. If you have not earned the right, you are wasting everyone’s time.
Barbara Hauser explains that sales suffer when the company practices a culture of “See No Evil, Hear No Evil, Speak No Evil.”
Chris Conrey explains that it’s a Fatal Sales Failure to be rude to the “front line” people at a prospect company. Don’t let that Executive Washroom go to your head!
Announcing a guest blog series on “Fatal Sales Failures and How to Avoid Them” featuring prominent bloggers, tweeters, sales experts sharing their stories.
A lot of The Whale Hunters client companies believe they are playing in a totally price-driven market. They do not see any opportunities to compete other than on price. When they lose a deal, they assume they lost it on price.
The problems with that zero-sum game are that there are always limits to how low the market can drive prices (before vendors abandon the market) and that every vendor is vulnerable to price-cutting by any competitor at any time.
How you behave when you lose a sale reflects on the character of your business.
Tactics that seem to be customer-friendly can really backfire if you imply service that you don't intend to deliver.
Whale Hunting is a great strategy to grow your company fast. But even fast-growing companies make on average 80% of their revenue from existing clients. So it’s much more important to keep existing whales than to hunt for new ones. How do you find out if there is a high probability that existing whales will work with you next year, too?
For a long time, I’ve been exhorting clients to be certain that the sales team is selling what the operations or implementation team plans to deliver. In the past couple of weeks, The Whale Hunters team has been on the receiving end of that potential mismatch, which compels me to write about it again. Here’s some context that may resonate with you as a seller (and possibly even as a buyer)!
We are all working at a frenetic pace and when we aren’t reaching sales goals, we panic and work from a place of fear, rather than from a place of power. Instead of focusing on the “target” we tend to toss darts all over the board hoping we land anything, anywhere. The result is a lot of tossing and not a lot of points. In reality we are staying in the same place (or losing ground) and not shifting our business forward. In either case, we are expending a lot of energy for little results. This is especially true in going after bigger deals because of the complexities of the sale and the nuances of the buying decision.