A Simple Strategy to Increase Win Rates

What would it take for you to double or even triple your win rates? According to LinkedIn research, you have a significantly better chance of closing sales when you have multiple connections within a single account.

 

Can it really be that simple?

Not exactly … Winning isn’t simply a function of having lots of LinkedIn connections. It requires a well-thought-out strategy. If you’re only well connected to one or two people at a company, you’re vulnerable if something happens to them.

Also, since most decisions today involve 4+ people, it’s essential to establish relationships with all of them. That way you have a greater likelihood of getting buy-in, working through obstacles and keeping the decision process moving forward.

Start by Doing This ….

1. Identify the key positions. Take a look back at recent decisions you’ve been involved with – win or lose. Who was involved? For example, if you sell to Marketing, a single decision might involve: CMO, VP of Corporate Communications, Director of Demand Gen and an IT Director.

2. Leverage LinkedIn to scope out names. Look up your initial contact, then search in the “Others at XYZ Company” section. These are often co-workers. Here’s where you’ll find this particular company’s job titles – which vary everywhere.

3. Use Advanced Search to root out other positions. If key buyers are in different functional units (sales, purchasing, IT, HR), they can be uncovered this way.

Then Do This to Expand Your Contacts

Many salespeople are really uncomfortable expanding beyond their existing contact. They don’t want this person to feel like they’re going behind his/her back by establishing relationships with others in the company.

That’s an error in judgment. You are the professional. Your prospect’s don’t make decisions like this very often and they honestly need you to provide guidance. So you say:

Alex, I work with lots of other companies who are trying to decide if it makes good sense to change from the status quo. Virtually every time, the decision involves these types of people/positions. Based on my experience, it’s good to get them engaged as soon as possible.

You could also add:

I did some checking on LinkedIn, and this is my best guess who should be involved. Let’s take a look at this list to see if it’s right. And if not, determine who else we need to engage.

AND, you can also send an InMail to any of those people you’ve identified saying,

Hi Nick,

I’m talking to Alex in Marketing right now about how we might be able to help your company shrink time to revenue on an upcoming product launch.

Usually when I work on projects like this, the VP of Sales needs to get involved fairly early on too. Would you have time for a quick conversation next week? Tuesday afternoon is best for me.

P.S. I’m sending you a LinkedIn invite too. Looking forward to meeting.

The key is to be a leader in initiating contacts. Don’t ever let your future in an account rest on one person. Know who you need to meet with – and reach out to them.

It’s one of the best things you can do to increase your win rates.

 

This post originally appeared on Jill Konrath’s website and is republished here with permission. 
 
The first link goes to the original article. The second to my home page: www.jillkonrath.com.

Let me know if you have any questions. Also, please let me know when the articles/posts appear

 

Jill Konrath

Jill Konrath is also a frequent speaker at sales conferences and kick-off meetings. Sharing her fresh sales strategies, she helps salespeople to speed up new customer acquisition and win bigger contracts. Her clients include IBM, GE, Microsoft, Wells Fargo, Staples and numerous mid-market firms.

Author

Jill is the author of three bestselling, award-winning books. Her newest book, Agile Selling shows salespeople how to succeed in a constantly changing sales world. SNAP Selling focuses on what it takes to win sales with today’s crazy-busy buyers. And Selling to Big Companies provides step-by-step guidance on setting up meetings with corporate decision makers.

Thought Leader

As a business-to-business sales expert, Jill’s ideas and insights are ubiquitous in multiple forums, both on and offline.
◾Widely read. Jill’s newsletters are read by 125,000+ sellers worldwide. Her popular blog has been syndicated on numerous business and sales websites.
◾Sales Fellow. In 2014, Jill was honored to be selected as a Sales in Residence at HubSpot Sidekick, providing insights, guidance and direction to the new Sidekick offering.
◾Accomplished. Jill has been recognized for many achievements. Most recently, InsideView named her to their list of the 25 Influential Leaders in Sales for the third consecutive year in 2013, and she was named to the Sales Lead Management Association’s lists of the 50 Most Influential People in Sales Lead Management in 2009, 2010, 2011 and 2012. She has also won many other awards.

To learn more about Jill, you can read about her professional background, personal insights and sales philosophy. Check her out on Wikipedia, and don’t forget to connect with her on LinkedIn!

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