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Saturday, May 31, 2008

A sales success formula?

This image is from Construction Business Development in the U.K. which proposes a systematized sales program for its British clients. Perhaps a similar business model would work well in North America.

A British company, Construction Business Development, has started a blog to promote its sales and business development services for U.K. contractors. In a recent entry, 4 Keys to a Successful Sales Strategy, the author explains some fundamentals and a business development system for companies in the mid-range, £1m to £20m in annual volume.

In their model, they put one of the contractor's office for the equivalent of one day per week.
"The results speak for themselves with one day typically producing 1-2 high
appointments between your directors and potential work providers. On top of that, this strategy tends to secure 3-5 tenders a month, mostly through utilization of telecommunications and subsequent relationship development. Finally, this strategy uses planning leads as a key source of market and project intelligence."
The blog entry says there are four keys to success: 1. Market intelligence; 2. Regular time to develop leads; 3. Executive support and 4. Encouragement of sales input across the company.

The writer notes these prerequisites:

There are some basic elements that firms should ensure are in place before pursuing any marketing strategy. Several of the most important of these are outlined below and for the vast majority of readers they will serve only as a reminder of the basics. These are:
• Commitment from the directors and managers for the a long term sales program is really important because it ensures that your bosses are behind you in your sales endeavors and will provide support when it is required.
• A strong, attractive and effective corporate identity is something that all firms aspire to have but it is essential to stress that if one’s corporate image is tainted, it will become much harder to build a client base.
• Clear thinking and clear prioritization of market focus areas will help streamline your corporate process generally, but it will also help any marketing strategy because a clear focus will make the best use of a marketers time.
• Effective marketing resources are essential for promoting a corporate image and for advertising to potential clients. Most firms will already be involved in some activities related to this field, however it is worth reiterating how important it is to be strong in this area by having a wide range of resources available – i.e., brochures, websites, pdf's and email material, case studies and letters.
I've italicized and bolded "it is essential to stress that if one's corporate image is tainted, it will become much harder to build a client base." All the selling in the world won't do you much good if you don't conduct your business with fundamental integrity and business sense.

I'll permalink this blog, hoping that it is updated with some frequency.

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