Mastering Niche Market Sales
Selling to Nitrogen Businesses
Many nitrogen businesses present possibilities for emerging companies to earn profits. If your offerings appeal to this market, it's time to learn how to sell to nitrogen businesses in the current business climate.
In today's economy, nitrogen businesses are looking for the best products at affordable price points.
Companies that market to nitrogen businesses have to be prepared to communicate their product strengths to customers who are extremely knowledgeable about the marketplace. Here are some of the other things you'll need to sell products to nitrogen businesses.
Sales Incentives
In a perfect world, you want your sales force to be self-motivated to perform at a high level. But to encourage constant improvement, consider offering sales incentives to sales reps that exceed nitrogen business sales targets.
Incentives don't have to be cost-prohibitive -- sometimes just recognizing an employee's worth to the organization is more valuable than an expensive incentive that lacks recognition or prestige.
Reaching Prospective Customers
Prospecting transforms contacts into qualified leads.
Networking can fine tunes prospecting performance and conversion ratios. However, it's important to make sure your sales force isn't so focused on conversation that they miss the point of prospecting, i.e. the identification of likely buyers, key decision makers and high value industry contacts. In other words, the type of people you meet is just as important as the number of people you meet when prospecting for nitrogen businesses.
Lead lists are useful because they narrow the field for your team. Third-party lists from reputable vendors (e.g. Experian Business Services) arm your sales force with good leads, making it easier for your company to balance the quantity and quality demands that are prerequisites for effective prospecting.
Be Prepared for Tough Questions
In the real world, most nitrogen businesses aren't interested in undifferentiated, non-specific product and service offerings. Before they make a purchasing decision, they want to know everything there is to know about your product.
In this industry, differentiation can be the deciding factor in conversions. It's crucial for your sales team to be knowledgeable and informed. If you're selling a service to nitrogen businesses, your sales force has to be educated in service features and be prepared to resolve customer concerns during the sales cycle.
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