How to Sell to Niche Markets
Selling to Electric and Electronic Equipment and Supplies Businesses
It's common knowledge that many electric and electronic equipment and supplies businesses are expanding, and small businesses are looking to drive incremental sales from this niche market. If your offerings appeal to this market, it's time to learn how to sell to electric and electronic equipment and supplies businesses in the current business climate.
There's no such thing as an easy B2B sale. To succeed in this environment, you need a strategy that is built on the fundamentals of good business.
The process of converting electric and electronic equipment and supplies businesses from prospects to satisfied customers isn't random. It takes proactive action from owners and managers to create a strategy that is tailored to your product line and customer base.
Reaching Prospective Customers
Prospecting transforms contacts into qualified leads.
Networking can fine tunes prospecting performance and conversion ratios. However, it's important to make sure your sales force isn't so focused on meeting new people that they miss the point of prospecting, i.e. the identification of likely buyers, key decision makers and high value industry contacts. In other words, the type of people you meet is just as important as the number of people you meet when prospecting for electric and electronic equipment and supplies businesses.
Lead lists are useful because they narrow the field for your team. Third-party lists from reputable vendors (e.g. Experian Business Services) provide a database of likely conversion targets, making it easier for your company to balance the quantity and quality demands that are prerequisites for effective prospecting.
Sales Strategy Tips
Effective electric and electronic equipment and supplies business sales strategies combine sales and marketing techniques with an eye toward ROI. Some sales techniques are more effective than others and the ones that maximize ROI need to be pushed to the top of the list.
Also, it's important to avoid a silo approach to electric and electronic equipment and supplies business sales. Companies that isolate their sales units lag in the marketplace, especially when they face companies that encourage collaborative processes between sales, marketing and other units.
Whenever possible, you want your sales force to be self-motivated to perform at a high level. But to encourage constant improvement, consider offering sales incentives to sales reps that exceed electric and electronic equipment and supplies business sales targets.
Incentives don't have to break your budget -- sometimes just recognizing an employee's worth to the organization is more valuable than an expensive incentive that lacks recognition or prestige.
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