The sales cycle from the salesperson’s perspective is broken down into three phases: finding, getting and keeping business. All three phases are extremely important to the salesperson’s success and the focus on only one of these phases can mean almost certain failure for the salesperson. However, although salespeople understand this, they often struggle with the ability to focus equal time on all three phases. Oftentimes this struggle comes internally from sales management who put more pressure on their sales force to find and get new business. Yet, it is also impossible for a salesperson to reach his or her goals and their company goals without continuing to grow their business. For the purpose of this article, I wanted to focus just on this third phase.
The retention of business is directly tied to having good relationships with your customers and is not something that should just be left up to the Customer Service Department. How a company and specifically a salesperson supports the customer after a contract or agreement is signed is a critical component as to whether that customer will continue doing business with you. Here are a few key components that become decision making factors for a customer:
· Communication- can they easily get a hold of you when they have a question or concern?
· Visibility- do you make regular contact with your customer? Do you have them on a consistent call cycle or do they only see you when there is a problem?
· Problem Resolution- do you have a process in place for them or do they know who to contact when problems arise?
· Value- do you bring them additional solutions or products that will make their life better? Do you remind them what you have done for them in the past?
· Competitive Differentiation- do they understand how your product or service differs from your competition?
· Appreciation- when is the last time you thanked them for their business? William James once said “the deepest principle in human nature is the craving to be appreciated.” Are your customers any different?
Focusing on keeping or retaining your customers is more than just one of the three phases of the sales cycle. It gives you the ability to build value and further trust with them and the more trust you have built, the harder it will be for your competitors to take the business away.