Summary of Mastering Your Key Accounts

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Ambitious salespeople always want to increase their sales. They try to improve their skills, and work harder and more efficiently. But according to author and sales guru Stephan Schiffman, the best way to increase revenue is to sell more business to your key accounts. In this book, he shows you how to leverage your existing contacts at major accounts and identify new opportunities. Schiffman also walks you through his approach to selling, including identifying bona fide prospects, following a specific sales process and continually moving prospects toward the close. If you’re familiar with other Schiffman books, you can concentrate on the material that deals with key account management, without dwelling on information you’ve seen in his other books. But if you’re an inexperienced salesperson mining for new revenue, getAbstract suggests that you begin digging right here.

About the Author

Stephan Schiffman is a sales training expert and the author of many bestselling books, including Cold Calling Techniques, The 25 Most Common Sales Mistakes and Ask Questions, Get Sales.

 

Summary

Let’s Come to Terms

When you’re a salesperson, key accounts are golden. Whether major corporations or small businesses, key accounts conduct ongoing business with you.

Understand the roles of the people you work with at your key accounts. For instance, your “primary contact” is the main person you deal with; an “influencer” is someone who can affect the buying decision, regardless of his or her corporate position. The “decision maker” might be your primary contact or someone else at the company who makes the final decision. A “major account” has the potential to buy a significant amount from you, but may have more than one decision maker, so sometimes you must work with people in separate divisions or departments.

Good Advice

Most sales professionals agree that 80% of their business comes from 20% of their customers. Therefore, your top accounts are crucial, so don’t allow them to become vulnerable to the competition. Paradoxically, a salesperson’s interest generally is most acute at the beginning of the sales relationship, and his or her attention often wanes after the sale is completed. That opens the door to the competition. Salespeople must stay ...


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