The “Pareto Principle,” often referred to as the 80/20 rule, suggests that 80% of results come from 20% of efforts. In the game of sales, this principle frequently holds true, where a significant portion of your leads originates from a smaller subset of clients, many of whom demand relatively little of your time.
So, how can you shift the balance, spending less time on average clients or those who are time-consuming, while extracting the most value from your efforts? This article provides insights into this challenge and offers strategies for optimizing your B2B sales approach.
Understanding Your Client’s Potential: One of the initial tasks you must undertake in the early stages of your sales process is to assess your client’s potential. This step is critical in helping you direct your efforts effectively and make the most of your time.
If your company utilizes a pricing structure based on the annual expenditure of clients (e.g., $50K MINI level, $200K MIDI level, $1,000K MAXI level), it becomes relatively straightforward to identify high-potential clients. In cases where your company lacks a predefined promotion system, you can create one, segmenting clients into distinct levels based on their turnover or other relevant factors.
Targeting High-Potential B2B Clients:
Having developed your own B2B sales strategy and set your sights on acquiring substantial B2B clients, you can implement several strategies to maximize your results. Whether you’re selling to small or large prospects, the sales process often requires a significant investment of time and resources before successfully closing a deal. To optimize your returns on this investment, it’s advantageous to focus your efforts on high-potential clients.
Benefits of High-Potential B2B Clients:
- Less Time on Support: Larger clients typically require less time on customer support and maintenance, allowing you to dedicate your time to more productive tasks.
- Sustainable Growth: These clients tend to experience consistent growth, translating to an increase in your sales over time.
- Networking Opportunities: Depending on the nature of your business, you may have the opportunity to refer smaller clients to your high-potential clients for specific products or services. This not only benefits your clients but also fosters stronger relationships with your high-potential clients.
Balancing Your Approach:
While starting your sales journey with smaller clients can help develop your skills, it’s essential to recognize when you’re ready to target larger, high-potential clients. Invest your time wisely, ensuring a greater return on your efforts.
In conclusion, by understanding your client’s potential and honing your approach, you can shift your focus toward high-potential B2B clients. These clients often demand less support, offer sustainable growth, and present opportunities for networking and referrals. As you evolve in your sales career, transitioning to larger clients can lead to greater success.