SALES PROPOSITIONS & OPPORTUNITIES

Sales propositions and opportunities is another key area in the successful management and development of any client or prospect.

Regardless of whether there is a formal sales team or not, as your client account will not survive without new business, everyone who represents your company must be constantly on the lookout for opportunities to secure further work, no matter how small. Their ‘sales-related antenna’ must always be up, seeking opportunities to:

• • win work informally
  • be invited to bid for assignments, projects, services, people placements &/or products.
  • improve reputations and your company’s standing at any level in the client organisation
  • enhance their own client knowledge by attending presentations, briefings, meetings, social events, etc.

Also, account managers need to ‘think outside of the box’. Ask yourself, ‘is there an opportunity here?’ (for you, others or your company). Opportunities are often disguised, camouflaged by the hubbub of the client’s day-to-day business activity. It will help to put yourself in the position of the client and think on their behalf, look at things from their perspective.

Always be looking for a new revenue stream – stand back, think it through, what are the options/alternatives, apply some lateral thinking.

Ask yourself why things are being done the way they are, what’s the rationale, the justification – can you think of ways to make things easier, quicker, less stressful? (this will be ‘adding value’ which is particularly important when you are compared against the competition).

Also, when an ‘opportunity’ initially seems very difficult to deliver, be careful not to dismiss it until a brainstorming session has been conducted.

Finally, never ignore or delay in responding to a client request and remember that if you delegate you must ensure that you chase it up quickly (from the client’s perspective, you’re the person running with it, it’s your credibility that’s on the line).

Some example checks, tips & questions are given below.

Sales Propositions

Whenever proactively seeking any new business with a client or prospect, the following should always be considered:

• • does your company have any propositions which specifically relate to a current need and/or problem already identified?
  • each product/offering/proposition will need to be ‘wrapped/packaged’ in such a way that it appears to be specifically suitable for the individual client
  • tailor new propositions to reflect/address specific client issues, drivers and opportunities.
  • how & where will propositions add value/benefit to the client?

Sales Opportunities

• • does your company need to be a Preferred Supplier?
  • do you have access to influencers & decision makers?
  • are the right people available to prepare the Sales Proposal, negotiate and take the order?
  • are third parties involved?

Practice

• • be proactive and seen as delivering ‘value add’ because opportunities frequently follow on from this – make sure you are tipped off regarding client issues which you, colleagues or your company may be able to quickly/easily resolve, free of charge
  • sell (promote) yourself, your colleagues, your company; what makes your company special (values, ethos & culture) but ensure compatibility with the client; they have to like you, the two organisations have to be compatible – develop synergy
  • keep yourself and colleagues up-to-date regarding your company’s offerings but be very careful not to give the impression that you’re the experts even if some colleagues are very keen to be involved; there is a big potential danger here as opportunities for new work are often lost because the wrong people are involved. Enthusiasm alone is very dangerous
  • examples of your company’s successes should be highlighted wherever/whenever possible; anyone representing your company on the client site should have these to hand

The Competition

• • your company must have up-to-date appraisals of its competition which include strengths & weaknesses (SWOT Analysis)
  • elaborate on your own, your colleague’s and your company’s attributes/benefits. You therefore make it obvious where the competition doesn’t stack up against you – it’s then very clear where the competition’s shortcomings are without directly saying so

Qualification

• • regardless of whether it originates from the client (need/opportunity) or from an initiative by your own company (proposition/opportunity), it will be crucial to qualify each potential order throughout the sales process as circumstances, knowledge and relationships will be constantly changing on both sides
  • although you may have an excellent relationship with your client contact and believe that you’re home and dry regarding a particular opportunity, it must be qualified in a disciplined way. Never underestimate clients; sometimes they are far cleverer and more devious than you think – a competitor may be feeling just as confident as you, maybe even more so!
  • the qualification process also requires discipline and objectivity because although a sales order can be there for the taking, there may be sound business reasons not to continue. So, to ensure there is such discipline, people who are entirely neutral should also be included in the qualification/decision making process
  • because of this, the qualification process should be rigorously followed, remembering that you may need to qualify out at any stage of the sales process
  • each time you ‘qualify’, the Sales Action Plan must be updated.

Click here for 70 checks & tips

Best Practice Quote 7 of 13:

“without opportunities for sales there is no future”

NEXT BLOG: Sales Opportunity Qualification

The complete set of account management components can be found here, all of which are explicitly focused on improving supplier performance and blocking the competition.

As an introduction to these components, I’m writing a series of blogs which I hope will be of value and appropriate for the type & size of your client, prospect and target organisations:

• • What is Account Management?
  • Understanding Your Clients (& vice versa!)
  • Supplier Values, Ethos & Image
  • Supplier Account Manager
  • Client Relationship Management (CRM)
  • Client Contact Management (CCM)
  • Sales Propositions & Opportunities
  • Sales Opportunity Qualification
  • Balanced Scorecard
  • Risk Management
  • Account Performance Reviews
  • Client Satisfaction Surveys
  • SWOT Analysis

As these blogs are geared to anyone engaged in developing new business with clients &/or prospects, and for ease of context, I’ll regard all readers as account managers because everyone has the same endgame, no offence!

I really hope you, your colleagues & business associates find value in these blogs; please let me know either way. Please also get in touch if you think there might be potential for our businesses to collaborate.

ASPIRE’s MISSION 

– to enable Account Mangers & Suppliers to develop long-term revenue streams while minimising risk in all that they do

– to increase profit margins, expand people networks, develop trust, enhance market standing & boost morale/pride

 

ASPIRE, committed to providing practical best practice to enable you, your team, your company and your clients to exceed business expectations year-on-year

Richard Wright, Managing Director, ASPIRE Account Management™, ©Copyright 2024, All Rights Reserved