In my company, First Approach, there are twelve maxims or axioms we use to emphasize concepts we feel are important.
Maxim #2 is “The Best Time to Build a Relationship Is When You Don’t Need the Relationship”
The concept is pretty simple; why wait until someone has an immediate need for your product or service before investing time with them? Unfortunately, this is what most sales organizations and “sales leaders” have been preaching for years. Qualify, qualify qualify. Make sure the prospect is in the market now, with an imminent need. Don’t waste precious time with prospects where the timing is bad. Over the duration of my career, I’ve heard it all. “They said they had no need” or “they still had eighteen months left on their contract with their current supplier”, to name two.
Eight months ago I made contact with a new prospect. At the time, this client had “no need”, “no interest” and “no budget”.
Instead of giving up, I continued to stay in touch often, for no reason other than to lend my advice or point of view. At each next contact, the client shared something new with me. Sometimes it was about something to do with business, sometimes it was something personal and sometimes, it was just a quick hello.
Why didn’t I qualify him in the very first phone call and just call back six months later? Why did I maintain communication with this prospect during a period of “no need”?
Throughout the eight months, ever so slowly, our relationship evolved. My status advanced from just another person claiming to be knowledgeable and trustworthy, to that of a trusted advisor. What transpired over those eight months wasn’t that the prospect was going to need or use First Approach, but rather, that when he had a need for our type of services, we would be right at the top of his short list.
When I hear a prospect say “your timing is good” or “we’re just conducting a review for this service” my heart sinks. Why? Because I know I’ll be thrown in with all the other lemmings; all the other sales people that arrive at decision time and make claims about “best price”, “best service” or “you can trust me” etc.
If one of these sales people had done their job better than I had, they would almost certainly win because they have not just the right product or service, but the client’s trust as well.
Of course, when an existing client utters these same words, it’s music to my ears.
Developing new business has to start with developing new business relationships, and that, takes time.
Here is what I do:
1) I target people and companies that I think are a good fit for my product regardless of whether they have a need for my type of product right now.
2) I pursue a meeting, especially if they “have no need”, “no budget” or are “happy with their current supplier”.
3) I have no agenda with respect to when I might realize business from a new client. I afford myself this luxury by making sure I focus on how many new relationship I begin in a given period over how many I will close
4) I allow potential new clients to set the pace. I give them the necessary space to let me into their circle of trust and on their own terms. The only terms that work.
5) I stay in touch and therefore top on mind.
6) I look for different topics of discussion I can engage a client in, whether business or personal.
7) I do my best to make sure the client has the greatest level of trust in me, so that when a need does arise, that part of the decision making process will long be over.
Tomorrow – now nine months later – I have a call scheduled with this client, except this time it’s for a different reason.
Over the last few discussions, the client declared a need for what First Approach offers. We have talked extensively about the philosophical, strategic and tactical attributes that First Approach provides. Most importantly, these recent discussions have been about execution and about how a new client could incorporate First Approach into their sales structure.
The issue of trust or credibility hasn’t been on the table for some time now. He has come to trust me, in his own time, and through his own process of doing so.
Tomorrow, I believe First Approach will have a new client. How do you think the call will go?