Sales Tip 1819: The Art of Selective Selling - Meshell Baker

“Remember, in sales, it’s not just about closing deals, it’s about closing the right deals.” – Meshell Baker in today’s Tip 1819

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Transcript

Scott Ingram: You’re listening to the Daily Sales Tips Podcast and I’m your host, Scott Ingram. Today’s tip comes from Meshell Baker, our favorite sales confidence igniter and authentic selling crusader. Here she is.

Meshell Baker: Hey there sales superstars. Ever feel like you’re running on a hamster wheel chasing after every potential customer that comes your way? Well, I’ve got great news for you. It’s time to hop off the wheel and get strategic. Today I’m diving into why not all customers are worth pursuing and how being selective will skyrocket your success. Let me kick things off with a mind blowing fact. According to a study by the Pareto principle, roughly 80% of your sales come from 20% of your customers. Yep, that long held principle demonstrates that a small fraction of your client base is driving the majority of your revenue. So why waste time on every lead that might never convert or worse, become problematic clients? So let me break this down into three key takeaways and an immediately implementable technique that will transform your sales success.

Number one Quality over quantity. First things first, it’s time to shift your mindset from more leads to better leads. Instead of casting a wide net and hoping for the best, focus on identifying and nurturing high quality prospects. These are the clients who not only have the budget and need for your product, they also align with your company’s values and long term goals.

Number two, the cost of bad fits. Identifying right customers early in the sales process is key. Keith Rosen’s 16 questions for qualifying a Prospect emphasizes the importance of asking questions that reveal whether a customer is aligned with your offering and values. Are they genuinely interested in your solution or are they just price shopping? This will help you filter out those unlikely to convert or sustain a profitable relationship.

Number three Empowerment through selectivity. Being selective isn’t about being picky or an elitist. It’s about fueling your pipeline and empowering your sales team to focus their energy where it matters most. When you pursue the right customers, you’ll see higher close rates, better customer satisfaction and increased lifetime value. In a Wharton study, they found businesses often lose profitability by acquiring too many free rider customers, those who take advantage of offers without contributing meaningful revenue. These customers exploit your lower prices and special deals, but rarely offer long term value. This underscores the importance of selective customer acquisition.

Now I know what you’re thinking.This sounds great Meshell, but how do I implement it? Well, I’ve got you covered. The immediately implementable technique create an ideal customer profile. Yep, an ICP. Take 30 minutes today to sit down and outline the characteristics of your perfect customer. Consider factors like industry, company size, budget, pain points and values. The ICP will become your North Star, guiding your prospecting efforts and helping you quickly identify which leads are worth pursuing. And if you already have one and you’re not getting the sales success you want, it’s time to edit, modify that ICP and go out and look for those ideal clients. Remember, in sales, it’s not just about closing deals, it’s about closing the right deals.

By being selective and focusing on high quality prospects, you’ll not only boost your numbers, you’ll also build stronger, more profitable relationships than a long one. So the next time you’re tempted to chase after every lead that comes your way, pause and ask yourself, is this customer truly worth pursuing? Your future self and your sales numbers will thank you for it. And a quote by Tiffany Bova, Growth and Innovation Evangelist at Salesforce the beauty of sales is not in the pursuit of quantity, but in the precision of targeting the right customers who truly need what you’re offering. Now go have a great day selling.

Scott Ingram: For more from Meshell, just click over to DailySales.Tips/1819. Once you’ve clicked over there, be sure to click back here for another great sales tip. Thanks for listening.