“Start to plot where you should be spending your time and where you should be careful about how you spend your time.” – Jeff Bajorek in today’s Tip 679
How about you? How do you spend your time?
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Scott Ingram: You’re listening to the Daily Sales Tips podcast and I’m your host, Scott Ingram. Today Jeff Bajorek is back, and because he’s here weekly I probably don’t brag on him enough. Jeff is a consultant, an author, a podcast host, and… a great salesman. Here he is with today’s tip:
Jeff Bajorek: Targeting. No there’s a long-standing debate around where your new business growth should come from. Some people say, “I want net new logos only give me new business from people that have never heard of us or done business with us.” And there are some people on the other side of that argument that say, “Well, wait a second. I’ve got a lot of customers that I haven’t done a lot of business with where there’s a ton of room to grow and they already know like and trust us.”
Well, to me, I think that debate is foolish because it doesn’t matter new or old, all revenue is treated the same. Last I checked my dollar spends regardless of who gave it to me. So I think the factors that we should be considering are not old versus new, but growable versus accessible. Who do you know you can grow with. And of those people who do you know, you can access. And I put together a graphic and I submitted it to Scott, so it’s in this podcast. You can go to the webpage, you can check it out and see what I mean. But if you plot growability and accessibility on a matrix, you can kind of start to plot where you should be spending your time and where you should be careful about how you spend your time.
So I’m going to go through them really quickly. I’ve gone into greater detail on my blog and in a video that is associated with my blog. You can find it out there if you look at it, but, or just send me a message [email protected] and I’ll send you the link to the YouTube video, but here’s the brief summary of it.
You have prospects and customers who are both growable and accessible. And when you identify them as such, this is where you should be spending most of your time. And I don’t know why, but a lot of people like to prioritize other things, instead of working with hot active leads, this quadrant is where they live. So it doesn’t matter if they’re brand new, or if they’ve been doing business with you for a little while if you have access to them, which means they will take your calls. They will have a meeting with you. They will give you an opportunity to convey your value to them. And you have room to grow with that account. You have to spend the majority of your time in this place.
Quadrant two is are the group of customers or prospects where you don’t have much access to at all. But you know they’re growable, these are your dream clients, right? These are the ones where you really need to be proactive about approaching them. It may take a while, but the whole point of the activity that you spend in quadrant two is to get people to quadrant one. Now, quadrant three is the trap. This is the quadrant of plausible deniability that I like to call it or I like to call it that because these are the current customers that you probably need to spend some time with because you have to maintain that business. But it’s easy to be lulled into the idea that you need to spend a lot of time there because you’re so afraid that that business is going to go away.
The time that you spend in quadrant three is much better spent in quadrant two and in quadrant one. And you have to be honest about what you need to be doing with those customers. They are not growable by your definition, which is why they are in quadrant three. And if they’re not growable, then you need to spend your time with those that are. Your job is to grow business, not to maintain business.
So I’ll mention quadrant four here, but if they don’t want to talk to you, you don’t want to talk to them. It really doesn’t matter that’s all that needs to be said about that. So what I want you to do is use this framework, take a look at it and identify where you’re spending your time, the clients you’re working on, or working on. Are they in quadrant three? And should you spend that much time with them? And as far as the trap, that is quadrant three, how much time do you really need to spend there? And what time can you free up to move prospects from quadrant two into active leads in quadrant one? If you can get any handle on this at all, you’re going to be in such a much better position to grow your business in 2021 and beyond.
Scott Ingram: To see that graphic that Jeff just walked through, the video version of this tip, links to Jeff’s blog, LinkedIn profile, and more. Just click over to DailySales.Tips/679 and we’ll have it all for you there.
Then, be sure to come back tomorrow for another great sales tip!