How to Sell to Niche Markets
Selling to Employee Benefit Administration Businesses
If your business is struggling to hit sales goals, take a minute and read our tips on selling to employee benefit administration businesses. With these useful selling tips, you can get on the right track and improve your results when selling to employee benefit administration businesses.
A good sales strategy is the foundation of a solid revenue stream. So for businesses that sell to employee benefit administration businesses, strategic sales planning is a prerequisite for success.
In today's fast-paced B2B economy, initiative and strategy are two things that never go out of style � especially for companies that sell to employee benefit administration businesses.
Reaching Prospective Customers
Prospecting transforms contacts into qualified leads.
Networking can dramatically improve your team's prospecting abilities and closing rates. However, it's important to make sure your sales force isn't so focused on adding names to their contact list 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, quality is just as important as quantity when prospecting for employee benefit administration businesses.
Lead lists are useful because they narrow the field for your team. Third-party lists from reputable vendors (e.g. Experian Business Services) arm your sales force with good leads, making it easier for your company to balance the quantity and quality demands that are prerequisites for effective prospecting.
How to Evaluate Sales Staff
Periodic staff assessment is essential for companies that sell in this industry. Businesses that achieve significant market share hire top-end producers and routinely evaluate them against performance goals and benchmarks.
Although annual reviews may be enough for other business units, sales units should be evaluated quarterly with monthly or weekly reviews of sales totals. Training, coaching and sales incentives can be useful for boosting sales and employee morale. In some instances, it may be appropriate to team underperforming sales reps with reps that have more experience selling to employee benefit administration businesses.
CRM Software
CRM (Customer Relationship Management) technology is standard fare for most B2B enterprises.
When used properly, CRM can improve your company's interactions with customers and prospects. For those who do not have a good lead management system, there's no better time than the present to get started. Companies that already use a CRM solution need to evaluate their processes to make sure it is being used to its full potential.
In the B2B employee benefit administration business industry, the the under-utilization of CRM can put your business at a competitive disadvantage.
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