How to Create A Successful Sales Strategy In A Tech Company By Olaitan Uche Damilola
When I first got into technology sales, I was plagued with different opinions and views on how to get those much-needed numbers up. Most of them said different variations of the same thing; build relationships and satisfy customer needs. In theory, the advice was decent but that wasn’t going to make me stand out like the sales superhero I knew I could be. After a few years of hands-on learning and remarkable success, while following the steps I’d curated myself, I realized that it had to be one of the best tech sales strategies by a long shot.
So, here goes.
Identifying the Ideal Customer
Sales conversion begins before the customer is met. It starts right here. Choosing the right prospect for your sales process is the genesis of your success. It’s important to know how to direct your lead generation, nurturing and conversion efforts towards the Ideal Customer Profile (ICP). Aim to filter your lead generation activities and target only prospects that are most likely to become customers.
Pain-Points and Solutions
Now that you have the right prospect locked and loaded, identify the customers’ pain points. You will need to discover the most prominent problems your prospective customers face in order to position your product or service as the right solution. At the end of the day, you’ll want your product to be a “must-have” that has immediate ROI and is part of a critical solution in a workflow.
Appeasing the Stakeholders and Gatekeepers
As a sales executive, I’m always aware that there are certain people whose role is to evaluate, screen and approve potential purchases for my prospects. These people could be the difference between closing a deal and losing it. These people are my prospect’s stakeholders and gatekeepers. I position myself in such a manner that, I not only get a foot in the door and proffer solutions to their challenges but also have someone to champion my cause behind closed doors. Be it the economic, technical buyer or user buyer, failing to identify these stakeholders will jeopardize the success of any sales prospect.
The sweet spot for budget discussions is usually after a prospect’s pain point has been uncovered and a solution proffered. Being able to have a comfortable discussion about budgeting with my prospect is an integral part of my sales strategy.
Roadmaps and Forecasting In a Sales Cycle
Any sales expert worth their salt would agree with me that forecasting is an elaborate part of closing a deal. Forecasting involves foretelling future sales events and happenings. It usually entails compiling data like past sales and creating a system to help predict the future.
The customer’s sales cycle may include several months of meetings, pitches, and presentations, emailing back and forth and persuading all stakeholders before making a sale.
The Buying Process; Bringing the Deal Home
I’ve realized that the buying process could take months or few weeks. The buying process is wholly dependent on the customer and their processes. Some buying processes are long, strenuous and take a very long time to conclude while others are short and pretty straightforward. Most B2B purchase processes could involve the final selection of a supplier, necessary approval for the purchase, relationship building with suppliers, the legal works, procurement and so much more. It’s important to familiarize yourself with the buying process of your prospect. I find that this helps me stay relevant throughout the buying process.
The Winning Sales Strategy
Creating a successful sales strategy in a technology company requires a focus on delivering value to the customer, utilizing data, and technology and fostering collaboration across B2B teams. The steps listed above are integral in creating your sales strategy. I’d even go as far as saying that a sales strategy would be bootless without the steps listed above.