How to Identify Sales Opportunities

How to Identify Sales Opportunities

One of the most important things about sales opportunities is being able to identify them in all situations.

As many sales teams know, just because someone is interested in the product or service you are offering them, doesn’t necessarily mean that they are ready to commit to the purchase. However, being able to find an opportunity in their hesitation is what helps you close more deals and grows a pipeline of new business.

1. Buyer Personas

The first step to being able to spot an opportunity is establishing an ideal profile for your potential customer. Finding the right person, and personality, that aligns with your company’s mission and values gives you the best opportunity to think like your customers, which as a result, helps you better understand their pain points and how to solve them.

To establish your ideal audience and buyer persona figure out who you are targeting, specifically their role, responsibilities, etc. Next, establish their pain points, figure out what solutions they need; and finally, figure out what they specifically look for in a partnership or vendor relationship and prove that you have those qualities.

2. Integrate Marketing

Another way to recognize a business opportunity is to work that marketing magic into your sales calls. That’s right; prep your sales reps with all sorts of fun marketing facts that they can use to sway prospects. In addition to supplying your sales rep with marketing information, give them some marketing collateral to offer up. Get them hooked on your product by offering something like a complimentary eBook that only current customers have received, or set them up with a free trial. These are ways to give the extra push to purchase.

Whether it’s online or offline, make sure you are taking advantage of your marketing opportunities everywhere. You should already be attending conferences, trade shows, workshops, and networking events as a professional looking for new business, but the best way to take advantage of attending these events is to establish which ones your target audience attends most often.

Unfortunately, most prospects you meet, at any event you attend, won’t be ready to commit to purchasing at that moment. But, taking their email address and passing along interesting articles and content is a sure way to keep you at the forefront of their mind when they are deciding who to do business with.

3. Referrals

What better way to get new sales opportunities than to take advantage of the ones you already have. If you have dedicated customers, ask them to refer your company to others that they think would benefit from it. A referral from a friend is crucial because it allows someone to hear about the product through someone they trust, which increases their chances of purchasing. This also keeps consistent with the ideal customer persona your business looks for.

Identifying a sales opportunity is crucial in any business, but much of the opportunity comes from your approach. Click here to learn more about how Winmo enables your proactive prospecting strategy.

Update

First up, buyer personas. Understanding this segment of the business makes it significantly easier to tailor your content, messaging, product development and so much more to the needs of your customers. The best way to develop a persona is using hard data from market research concerning what works and what is less effective. Some practical methods for gathering information in this area include discovering how people consume content and also giving customers the opportunity to participate more deeply in feedback in order to identify patterns and trends among the group.

Next up, make it a priority to integrate marketing. One motto we like to live by here at Winmo is that it doesn’t always need to be an ask with prospects, sometimes it’s better to give. This helps you stay top-of-mind, in an essentially effortless way. This can include sending them articles, emails, eBooks, and insider information to show you are truly interested in their business. Marketing and sales teams are designed to work like a well-oiled machine, so don’t hesitate to incorporate them into your selling and have them feed you content for clients as needed.

Last, but not least are referrals. As we all know, one of the easiest ways to attract more business is through the customers you already have. Word-of-mouth referrals create a sense of trust and credibility before ever coming in contact with the client. The key to a referral program is to make it easy and offer an incentive. Don’t be afraid to get creative in this realm, considering high participation is the goal. To be clear, there are many different types of referral programs and countless ways to generate success.

 

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