TOTAL ADDRESSABLE MARKET (FINAL STEP)

TOTAL ADDRESSABLE MARKET (FINAL STEP)

Total Addressable Market (Final Step)

Now that you have your internal TAM of testing customers and your external TAM for new client acquisition, it is time to execute a very detailed plan. Going after existing AND new clients offers an exciting and new energy to the process. 
By now, you have rated and prioritized your clients. How well do you truly understand them? Your top 50 clients typically make up 80% of your business. More than likely, however, you aren’t capitalizing on your top 50 TAM. As a result, are you only selling one or two of your services to them? Could you sell them a few more services? Could you offer them more solutions? Could you reach multiple locations within a company?

Natural Matchups:

You want to get with the internal and external and see if there’s any natural matchups. 
  • Are there any people that are in the same hometown that you could invite to a similar event? 
  • Are there trade shows events were both would be? 
  • Where are people going to meet together? 
  • Where are they hanging out together? 

Let them sell for YOU!

When you know how to connect your clients and prospects, it’s a great way to have them sell your business for you. Once this plan is in place, you need to make sure your salespeople are all very confident and comfortable in selling your MVP.

 

Work and adjust:

Work the plan and adjust as needed. But with both internal and external TAM, along with an ideal client profile, you’ll have great success.  
TOTAL ADDRESSABLE MARKET (PART 2)

TOTAL ADDRESSABLE MARKET (PART 2)

Total Addressable Market (Part 2)

Your annual planning is complete. The next move… You need to grow your external customers, obtain new clients to reach your goals.

The Key:

The key to doing this is a solid prospect list. Break down your list so you totally understand your Total Addressable Market. You need to create the list of prospects that closely match your ideal client.

 

Applications:

Applications such as Seamless.ai, Facebook, or LinkedIn Sales Navigator are excellent tools to use to assist you in fine tuning your prospect list. Once your list consists of 100 to 200 prospects, it will be extremely beneficial to really understand their size and the TAM if those prospects were landed. From there, start ranking them based on size, ease of work, inside contacts, etc. The key is finding prospects that are EASY to contact the correct person and PROFITABLE, when you land them.

 

Target:

Now that you have your target 100 to 200 prospects, we recommend our 321 Plan of Communication. We’re going to put together efficient voicemail/email campaign based on your MVP’s to maximize results. It’s an effective method for getting people to call you back.

 

Next:

The next step is to listen to Part 3 of my series to make sure that you understand what we need to do next. Once this is done, it is time to execute!

DON’T LOSE YOUR CUSTOMERS

DON’T LOSE YOUR CUSTOMERS

DON’T LOSE YOUR CUSTOMERS

Don’t let your relationships with your current customers disappear – acquiring new ones is too expensive!

Here are two important statistics you will want to remember before letting your existing clients go:

1. Retaining current customers is 6 to 7 times less costly than acquiring new ones.

Sales Coach Insight: The cost of prospecting and marketing are high. It’s expensive to land a client. Not only do you have marketing and travel expenses associated with each client, but it also takes a lot of time. It’s a lot cheaper to add business to a current customer rather than finding new ones. 

2. The average company loses between 10% and 30% of its customers each year.

Sales Coach Insight: Protect yourself and establish strong relationships with your customers. The MYB2BCOACH Elevate Program helps companies grow their existing client base after establishing business. We recommend connecting with people at least two levels up in a company – the executive level.  It will be harder for your competitors to steal business when you have 3 or more cheerleaders that like you. It also makes it harder for the decision maker in the company to go against you.

Remember to pay attention to your clients and stay engaged! Organic growth within existing customers is worth a lot more than you might think!

BEST DAY AND TIME TO CALL A PROSPECT

BEST DAY AND TIME TO CALL A PROSPECT

BEST DAY AND TIME TO CALL A PROSPECT

Give yourself the best chance for success by calling at the best times and on the most efficient day of the week.

Here are 2 mind blowing sales stats that you’ll want to remember the next time you pick up the phone to call a prospect: 

1. Thursday is the best day to prospect. Wednesday is the second best day.

Sales Coach Insight: Research has shown that Mondays are the worst days to calls because people are busy planning their week and sitting in meetings. Fridays are just as bad because everyone is busy wrapping things up before the weekend. This means that the middle of the week is best, especially Thursdays.

2. The best time to cold call is between 4:00 and 5:00 PM.

Sales Coach Insight: Don’t make the mistake by call during lunch or during the busiest time of the day – between 1 and 3 PM. Not only will your prospect not pick up, but they most likely won’t give you a call back. Usually by the end of day, meetings are over and the person answering the phone is gone. This means you have a greater chance to get ahold of the person you’re trying to connect with.

The next time you need to cold call prospects, trying calling on a Wednesday or Thursday after 4 PM and let us know what type of success you have in the comments below!

6 SURPRISING SALES COACHING STATS

6 SURPRISING SALES COACHING STATS

6 SALES COACHING AND TRAINING STATS
THAT MIGHT SURPRISE YOU

If you have ever questioned the effectiveness of sales training, or if you have weighed the pros and cons about investing in professional sales coaching for your company – then we have 6 surprising stats about sales coaching and training that you need to read right now!

From sales training to wasting resources, MYB2BCOACH has gathered 6 stats that might surprise you and make you think twice about not investing in your salespeople. Check out the infographic below or click here to download!

BUILDING EFFICIENCY WITH TWITTER

BUILDING EFFICIENCY WITH TWITTER

BUILDING EFFICIENCY WITH TWITTER

People don’t often think of Twitter as a tool for business, but the social media platform has an easy way to help build efficiency into your schedule.

According to Statista, 75% of B2B businesses and 65% of B2C businesses market on Twitter. This means that many companies are using Twitter to promote new products and services, share upcoming events, communicate business news, and much more! So, it’s important to follow your clients, prospects and industry leaders to stay up to date on the newest happenings and marketplace trends. You will also learn a lot by following your competitors and their newest services and offerings.  

But, when you follow a lot of people and only spend a small percent of your time on Twitter, it’s likely that you will miss out on some, maybe important, Tweets.

Here are two simple suggestions that can build efficiency into your schedule when using Twitter as a gathering tool.

1. Turn on notifications.

Mobile notifications are updates that are sent to your mobile device so you can stay up to date on the latest Tweets. You can control which notifications you want to receive and how you want to receive them. Just tap the small bell icon at the top of a profile to get started or click here to learn more.

2. Use TweetDeck.

TweetDeck let’s you view multiple timelines in one easy interface. This helpful tool can help you save time and easily organize the Tweets you want to read in a variety of ways. Click here to learn more about TweetDeck and its features.

 

Need advice on how to grow your Twitter connections? Click here to read our blog titled, Grow Your Network with Twitter.

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