Sales process - How to win more Big-Dollar Sales Opportunities with Brand New Perspective

Not your company's salespeople sometimes pursue large opportunities with brand new prospects? What is their success rate in pursuing this kind of opportunity? Do not you lose more often than not winning?

There is a specific technique of sale vendors can apply to increase their chances of winning, in pursuing large opportunities with brand new prospects. This technique is called "monkey's paw." The concept behind the monkey's paw sales technique actually comes from the shipping industry.

Here is a brief history

When large ships pull into a dock, they need to be tied to the dock. However, the ropes (and sometimes chains) that are used to bind large ships of moles are very large in diameter and very heavy. There is no way for the ship's crew to easily transfer these ropes to people on the dock. So, long ago a clever solution was devised.

The ship's crew tie small thin rope to the end of the large ropes (or chains). There is a special knot at the end of each rope with a small weight of lead inside. This node is called "monkey paw", one because it seems (at least for some people) like a monkey's paw.

The crew of the ship can easily launch monkey paws (and the attached skinny ropes) to people on the dock. The people on the quay can be used to pull the cords small strings large (or chains) and to bind the ship.

So how does this relate to the sale?

Suppose that one of the sellers of your company is pursuing a possible very large with a brand new perspective. The prospect has not bought anything previously from your company. What are the chances that the prospect will "take the plunge" and award a significant piece of business to a supplier with whom they have never previously done business?

Now, let's change the scenario. When initially contacted the seller's perspective, they discovered a great opportunity. However, they also identified a series of small "quick-close-and-deliver" opportunities. They managed to close one or more of these small opportunities, and the goods or services were delivered to the prospect (now customer of the company) prior to the purchase decision is made for the great opportunity. How will this impact company can win the big opportunities?

The answer is company can win the big opportunities have dramatically improved because your company is no longer an unknown entity! Instead it is a vendor that has already delivered valuable products and / or services to the customer. This dramatically reduces the perceived risk of the customer in the award of a large piece of business for your company!

Give some thought to your company's product and services portfolio

What products and services may be sold and delivered relatively quickly, providing your company with the ability to demonstrate value for new customers? If the portfolio of your company does not include any "quick-close-and delivery" products or services, brainstorm how you can add some 'of these types of products and services for the portfolio.

The conversion value prospects into customers as quickly as possible, can not be underestimated, especially when the sellers are trying to make relatively large sales to companies that have not previously done business with your company!

Copright 2008 - Alan Rigg ......