Capitalizing on Niche Markets
Selling to Petrolatum Businesses
For many entrepreneurs, selling to petrolatum businesses is key for achieving revenue goals. If you're tired of sitting on the sidelines, maybe it's time to start selling to petrolatum businesses.
Not surprisingly, petrolatum businesses are subject to normal business demands; they're in the market for high quality products at reasonable prices.
Many petrolatum businesses expect stellar service from the companies they do business with. But service alone won't close the deal. For B2B companies that sell to petrolatum businesses, the consistent application of sound business principles is just as important as your relationships with your customers.
Marketing Mix
Since sales and marketing are connected business activities, your company's marketing mix plays a central role in bottom line sales revenue. The industry's leading sellers employ multichannel marketing strategies and place a high premium on channels that funnel messaging directly to decision makers.
Although there are no one-size-fits-all marketing strategies for petrolatum businesses, B2B sellers can realize a competitive advantage from outsourcing lead generation to a third-party provider. Experian and other vendors maintain accurate and up-to-date lists of petrolatum businesses. For many businesses, these lists establish a framework for the rest of the sales cycle.
Sales Incentives
Ideally, 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 petrolatum 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.
Aggressive Recruiting
Profitable returns begin with aggressive recruiting tactics. Your company can't afford to send an inferior sales team into the field.
Companies that sell to petrolatum businesses should narrow their search to highly ambitious and focused candidates. At the same time, you need to make sure your sales hires are team players. Individuals who lack the ability to sell in a team environment will ultimately hamper your sales efforts, no matter how good they look on paper.
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