A good sales strategy is money in the bank. So for businesses that sell to employee benefit and compensation plans businesses, there is no substitute for a strategic sales approach.
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For B2B professionals that sell to these companies, the industry's positive growth outlook makes the solid execution of fundamental sales principles more important than ever.
Casting a Broad Net
The first step in selling to employee benefit and compensation plans businesses is to cast a broad net. Strategies that are isolated to the local market are not likely to succeed in an environment that makes effective of remote, technology-based selling tools.
Although a geographic concentration may be a useful strategy for new sellers, you will eventually need to broaden your focus to include prospects outside of your initial range. You can also broaden your prospect base by introducing new products and partnerships into the mix.
Since sales and marketing are connected business activities, your company's marketing mix plays a central role in bottom line sales revenue. The industry's leading sellers employ multichannel marketing strategies and prioritize channels that target decision makers.
Although there are no one-size-fits-all marketing strategies for employee benefit and compensation plans businesses, B2B sellers often achieve higher returns by outsourcing lead generation to a third-party provider. Experian and other vendors maintain accurate and up-to-date lists of employee benefit and compensation plans businesses. For many businesses, these lists set the stage for the rest of the sales cycle.
Putting It All Together
Ultimately, there is no single strategy that can guarantee conversions in your efforts to sell to employee benefit and compensation plans businesses. It's often a combination of techniques that converts prospects to customers.
Although it's easy to get caught up in the micro-level details of the selling cycle, sellers in this industry need to maintain a macro perspective that integrates sales techniques with a more comprehensive sales and marketing strategy.
Given your interest in selling and in employee benefit and compensation plans businesses, you might find these additional resources to be of interest.
If you have an existing employee benefit and compensation plans business, you are in the wrong spot. These resources will come in handy:
If you want to start an employee benefit and compensation plans business, we have some better resources for you:
If you want sales tips for doing business in a different industry, you will enjoy our directory of sales guides below.