Three More Reasons Why You Need to Constantly Prospect
As if you didn’t already know this, all salespeople must constantly be seeking new business from new customers. There are a thousand reasons why this is true. Here are three more:
- I’ll call it, “The Cycle of Technology”— do you remember software manuals? How about the CDs that came with them? Not too long ago, there were companies making an absolute fortune kitting and fulfilling for software companies. Seemingly overnight, that business was eliminated, replaced by automatic updates sent electronically and PDF manuals. Another example is film. Kodak used to send out 1 billion of those little yellow boxes per month. Try explaining film processing (another thing of the past) to someone under 35. The point is, things change and what was once a cash cow is now ground beef. You cannot count on that windfall to sustain. This, too, shall pass. Go prospecting.
- Mergers and Acquisitions — Companies are coming and going, folding in, and buying out. Due to no fault of your own, an account of yours could go away one day and do their buying from some other location. Note: This is where I tell you how important it is to get to know everyone in the company at every one of your accounts. When they leave the company, they might take you with them. Go prospecting.
- Turnover within the company. I hear this a lot. Post-COVID has caused a LOT of people to move on. You might find the “They love me” customer you’ve worked with forever is now on a beach enjoying a nice retirement package. Go prospecting.
If business is going well for you right now, congratulations. If you have a nice set of customers and are pretty much balancing handling reorders and your golf game, I’m happy for you. But understand this: Every customer is a wave and all waves hit the beach eventually.
New business activity — the kind that comes from new customers — is essential, part of the job, and the best way to prevent disaster when technology, a merger, or turnover hits your client base.
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Bill Farquharson is a respected industry expert and highly sought after speaker known for his energetic and entertaining presentations. Bill engages his audiences with wit and wisdom earned as a 40-year print sales veteran while teaching new ideas for solving classic sales challenges. Email him at email@example.com or call (781) 934-7036. Bill’s two books, The 25 Best Print Sales Tips Ever and Who’s Making Money at Digital/Inkjet Printing…and How? as well as information on his new subscription-based website, The Sales Vault, are available at salesvault.pro.