Prospecting vs. nurturing existing accounts.
By Brian Sullivan
After a recent seminar I delivered, a seasoned salesperson approached me and said, “Sully, I like your concepts on cold prospecting to find new clients, but frankly, I just don’t have time, because my existing clients require too much out of me.” My response was, “Give me some examples of things they require of you.”
He then spewed out a laundry list of low-value activities that he would perform within those accounts that, while important, were either things he could have deferred to internal resources or perhaps not needed to do at all. In short, this rep was mistaking activity for progress. The truth was, just because he was busy, it didn’t necessarily mean he was being productive.
In the ever-evolving world of sales, reps often grapple with a challenge as old as the profession itself – finding the perfect balance between dedicating time to prospect for new business and nurturing existing customer relationships. This balancing act is more than just a mere juggling act; it’s a complex, dynamic dance that requires meticulous planning, a disciplined approach, and an unwavering commitment to excellence.
The prevailing misconception among many salespeople is that prospecting can be deferred until there’s an opportune moment in the daily grind. Yet, more often than not, that elusive “free time” never materializes, and existing customers, like demanding sirens, continue to beckon. In this article, we’ll delve into six key strategies to help you master the art of maintaining this delicate balance between prospecting for new opportunities and tending to the needs of your valued existing accounts.
No. 1: Prioritize and calendarize your prospect schedule
Imagine your sales calendar as a well-orchestrated symphony, with each note representing a specific task or activity. To create a harmonious melody, it’s essential to prioritize prospecting by scheduling dedicated time for it.
Start by allocating blocks of time in your calendar exclusively for prospecting activities. These pockets of focus can range from a mere 30 minutes to a full hour, depending on your schedule and preferences. The key is to treat this commitment to yourself as sacrosanct, unwavering in the face of competing demands. The more consistently you honor this schedule, the more you’ll witness the transformation of sporadic prospecting into a habitual practice that drives your long-term success.
No. 2: Establish clear and respectful boundaries with existing customers
No doubt, existing customers are important. They trust your offerings, rely on your expertise, and expect nothing but top-tier service. However, maintaining their trust doesn’t require sacrificing your potential for growth through prospecting.
To strike a balance, establish clear boundaries with your existing customer base. While it’s tempting to respond instantly to every customer request, doing so can inadvertently send the message that you’re perpetually available. During your designated prospecting time, consider allowing non-urgent calls from existing customers to wait momentarily. Communicate politely that you’ll address their needs but that it may take a bit of time. Most customers will understand and even appreciate the professionalism of a busy expert who sets expectations concisely.
No. 3: Harness the power of internal resources
In many sales organizations, a wealth of internal resources is available to support customer requests. These might include subject matter experts, dedicated customer support teams, or knowledgeable colleagues who can provide assistance. Don’t hesitate to delegate tasks when it’s feasible and beneficial.
And for you that perhaps own your own manufacturer rep firm or perhaps act like a solopreneur within your business as a 1099 employee, there are options to tap into external expertise. Platforms like Upwork and other outsourcing websites offer access to skilled professionals who can take on tasks that would otherwise consume your precious prospecting time. Effectively leveraging both internal and external resources can help you meet customer demands efficiently without sacrificing your growth prospects.
No. 4: Steer clear of overcommitment
A common pitfall in the realm of sales is the temptation to overcommit to existing customers. When you promise more than you can reasonably deliver, you risk becoming overwhelmed by servicing existing accounts, leaving minimal room for prospecting and business expansion.
To navigate this challenge successfully, establish realistic expectations, both for yourself and your customers. Make it a cardinal rule not to overextend your commitments. By providing clear timelines and managing expectations prudently, you create a win-win situation. Your customers will appreciate your honesty, and you’ll gain the breathing space needed to allocate time for prospecting effectively.
No. 5: Allocate dedicated time for existing customers
Maintaining healthy, mutually beneficial relationships with existing customers is undeniably crucial. To ensure that your existing accounts receive the attention they deserve without compromising your prospecting efforts, allocate specific time blocks for them.
These designated time slots on your calendar should be dedicated exclusively to servicing and communicating with your existing accounts. By structuring your tasks within these predefined windows, you can fulfill your obligations to existing customers efficiently, preventing tasks from spilling over and disrupting your prospecting activities. This proactive time management approach ensures that you can nurture existing relationships while also creating room for cultivating new opportunities.
No. 6: Strive for firm, yet respectful interaction with existing customers
Every sales professional encounters high-maintenance customers at some point in their journey. Effectively managing such customers requires a balanced approach that accommodates their needs while maintaining control over your schedule. It’s a delicate art of diplomacy.
From the outset, set clear boundaries and expectations with these high-maintenance customers. While expressing gratitude for their loyalty, emphasize that you cannot let their demands dominate your entire schedule. Be firm in your commitments but always maintain a respectful demeanor. This approach sends a powerful message: you are a professional who values and respects your existing customers, but you also value your time and have the discipline to manage it effectively.
In short, the sometimes-difficult dance of balancing prospecting for new business and nurturing existing customer relationships is a fundamental aspect of achieving success in sales. By proactively prioritizing prospecting, establishing clear boundaries with existing customers, leveraging available resources, avoiding overcommitment, allocating dedicated time for existing accounts, and maintaining a firm yet respectful stance, you can master this delicate equilibrium.
Remember, time is one of your most valuable resources, and how you allocate it can significantly impact your sales performance. By incorporating these strategies and making a concerted effort to strike a harmonious balance, you’ll position yourself for sustained growth and lasting success. See you at the Top!
Brian Sullivan, CSP, is the author of “20 Days to the Top” and a leading voice in the field of sales training and development. He believes in the potential of every salesperson to achieve their best and continually challenges sales professionals to reach new heights. To have Brian Sullivan or one of his stable of trainers and coaches help your team get to the top, visit him at www.preciseselling.com.