It doesn’t matter if you’re selling for a blue-chip Fortune 500 company or a shiny new startup. I’m convinced professional sellers and sales leaders need to incorporate entrepreneurial selling into their toolkit if they’re going to succeed in today’s business environment.
In a new article for Sales Hacker, I delve into the whys and hows of entrepreneurial selling. I invite you to check it out. Then tell me, do you feel comfortable with entrepreneurial selling? What’s the biggest challenge you face in treating your territory/book as a business?
You don’t need to be an entrepreneur to benefit from thinking like one. The “entrepreneurial mindset” is a modern sales skill that all organizations must develop to propel their businesses forward. Customers and prospects need your sales team to become more entrepreneurial and use an entrepreneurial mindset to help them solve their toughest challenges. As a CEO or sales leader, how can you empower your team’s evolution? I’m pleased to provide four strategies in a guest blog post for Columbus CEO magazine.
Today’s topic in The Modern Seller video series is client loyalty. It used to be that satisfaction was the highest measure of success, and it’s still what many companies measure. But in the new sales economy, satisfaction is merely table stakes. Gallup has done research in this space and found that only 29% of our clients are truly engaged with us. Loyal.
That leaves up to 71 percent of clients that range anywhere from very satisfied to completely disengaged. These are the clients that can be swayed to move elsewhere…even the satisfied ones.
Modern Sellers are what I call Ambassadors. They’re skilled at cultivating loyalty and building long-term value. Because they take this long view, it’s a game changer for sales growth. The likelihood of expanding your sales into an existing loyal client is between 60 to 70 percent. The likelihood of selling to a net new prospect is only 5 to 20 percent.
To cultivate greater selling power, there are three common loyalty traits that are worth building in your best clients. I discuss these more in this week’s video.