What Is A Sales Matrix
Sales prospects are different in behavior. They need special and particular attention. Opportunities are at different stages and need to be pursued as such.
The better way to assess the degree of urgency in dealing with a particular prospect is by employing the sales matrix.
What is a sales matrix?
The easiest way to understand a sales matrix is that it is a tool used to help you determine the seriousness and viability of sales opportunities. The sales matrix helps you assess the level of interest that prospective customers have in your offering. The customer’s level of interest determines how much attention they will be given.
While assessing the fit for your company, concerning interest, you categorize a client based on industry, size, location, or some combination, you should be able to fit them into your matrix and match them with the preferred solutions.
The relevance of a sales matrix
Traditional prospecting is more intended for finding out if individual companies are a good fit for your product. In contrast, inbound prospecting goes on to define the interest these companies have in your product. Inbound prospecting assesses the possibility of turning said prospects into actual customers.
There are tells from which you can know that these companies are interested in your product, and an excellent place to start is the website visits. If you can track and identify these visits, you can tell who is interested and what exactly they are looking for. It can be as simple as the more visits to the website, the more willing they are to buy what you are selling.
Components of a sales matrix
Events and trends
The game of marketing is always evolving, and you need to keep up with what’s new. These tips tend to give you a direction on which techniques to employ and how to be best manipulate the status quo to your favor.
Staying compliant with the government becomes key to any business plan, with everything else as optional. Make sure to note what level of priority that the exciting event falls under.
The Key players
These are the people who matter most to you and your product - people who can influence your product’s purchase. These can be leaders, influencers, or even the actual buyers.
Each of the people in these groups needs strategies tailored specifically for them, so it is prudent to
Total cost savings
A customer always wants to stay ahead of any financial implications. That is why you must go over and beyond in explaining the total cost implications. If the customer is a large entity, they are most definitely going to demand the total cost.
Make sure to include installation costs, any reoccurring service costs, and any additional material costs.
Cost reduction maneuvres
While your customers align your product with their work, look out for ways your tools can improve their efficiency or even ameliorate their existing tools to get rid of redundancies.
When you provide the company with ways on how to save money, the long-run benefits are immense.