Sellers work too hard to sell a customer only to have the relationship end in a one-time sale. I believe a NO sale is better than a one-time sale in most situations. Here are 5 reasons why:
- A lack of ROI tied to business problems is usually the reason for a one-time sale. Word travels fast when a seller does not deliver results. This makes it harder to sell other customers.
- Short term revenue gain in exchange for long term negative PR that may result from a one-time sale is a bad deal for all involved.
- Contrary to popular belief, there is a limit to the number of quality new business prospects. It’s foolish to burn through prospects by selling them once.
- In most situations it takes the same amount of time to close a low dollar, one-time sale as it does to close the first sale (of many) in an ongoing sales relationship with a customer. Additionally, subsequent sales to existing customers take less time than selling the first deal to a new customer. Priority management leads to efficient use of time. Making long-term business development a priority over one-time sales is a more efficient use of time.
- Successful organizations are built on a foundation of long-term customers. Improving sales performance via long-term customer relationships is a better strategic move than the alternative.
Does this theory work for you? Are there exceptions worth consideration?
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Connect & ShareKurt Sima VP/Sr. Consultant at The Center for Sales Strategy
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