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 …
- 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.
- 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.
- 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.
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:
You could also add:
AND, you can also send an InMail to any of those people you’ve identified saying,
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.
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.© 2014 by Jill Konrath. Jill Konrath is the author of AGILE SELLING, Selling to Big Companies and SNAP Selling. As a sales accelerator, she helps salespeople close deals faster. She’s a frequent speaker at sales kick-off meetings and conferences. Her expertise has by featured by ABC News, Fortune, Forbes, The New York Times, Entrepreneur and Inc. magazine. Click here to get her free Prospecting Toolkit.