In today’s marketplace, the stakes are as high as ever and customers are increasingly more sophisticated and risk-averse. If you’re like most sales professionals working in the B2B space, it can oftentimes feel overwhelming.
One way to increase your sales performance is to be strategic around where and how to spend your efforts. Do this by analyzing the types of customers most likely to benefit from what you are selling and where you can be the most profitable. CSO Insights recommends using the grid below as a first step in focusing your efforts. The x axis helps you look at current revenues and the y axis helps you think about the potential revenues.
Once you have customers plotted, you then have data points to determine where and how to spend your time. For instance:
Leverage: While our first inclination is not to spend time in this quadrant, this is a mistake. Consider how you can work with these companies to gain access to or positively influence movement into the blue quadrant. Think of ways to strengthen the relationships you have with these customers.
Nurture: Most companies tend to treat these companies the same as those in the green quadrant. While grey companies are important, they should be treated differently from green ones. This means spending some time with these customers to nurture and protect them, but maybe not as much time as you would with customers in either blue or green, who represent future growth.
Develop: Should you spend time here? Yes! These companies represent growth, so it is worthwhile to spend time building these accounts.
Expand: This quadrant goes without saying. Green companies are already profitable with future potential, so be thoughtful about your efforts here.
Where are you focused today? Are you focused in the best places?