An organization’s sales team has to find new and innovative ways to reach customers on a constant basis. In this process, you need to research the industry, the various sales strategies, the market environment, the competitors, and also the sales techniques that your pioneers followed. Once you do a thorough research, you will come to know what you are doing well and what you need to improve. One way that sellers use to close deals faster is to multithread. Let’s discuss multi-threading in sales and its types.
What is multithreading in sales?
Multi-selling is a process of contacting more than one stakeholder of the prospective company, for example, executives, the vice president, and the CEOs of the same company. Multiple touch points, involving a minimum of three stakeholders, will increase your chances of closing the deal and decrease the length of the sales cycle. Studies show that compared to sales reps who follow up with a contact, multi-threaded sales reps have a 35% higher success rate. It is also called account-based marketing.
Steps for Ace Sales Multithreading
Just as sales is not a man’s job, buying is not a man’s job in today’s business environment either. Assigning 4-5 salespeople for each account and interacting with stakeholders at different levels will make the sales process much faster and easier for you. Follow these steps to succeed in multi-threaded sales.
- The first step is to find an initial point of contact. You can easily get it through professional platforms like LinkedIn. Send applications to as many people as you can in the target company.
- Next, get some additional contacts from them, such as your top executives. This way you can build a contact map of your target company.
- Start conversations with multiple stakeholders of the target company as soon as you get the contact map.
- Find the key decision makers and try to build healthy relationships with them.
- Create value through your messages and posts and give them the opportunity to interact. Concisely explain how your product solves your business challenges.
- Use the right tools to update the status of each trace instantly.
- Evaluate multi-sell strategies periodically and make changes until you successfully close the deal.
Expert advice on how to use multi-threading in sales
Depending on the strategy you are using, there are different types of multi-threading in sales. Whatever it is, you need to effectively use your multiple sales techniques to get maximum results. Here are some multithreaded tips shared by industry experts:
1. Don’t launch directly, instead add value through content
Some sellers tend to feature their products instantly once they get a connection on LinkedIn. Many business owners hate this behavior because they think you are just another salesperson promoting your product online. Instead, add value through informative posts, case studies, and articles to support your product category. This will make you stand out from the crowd. Once they start finding your content interesting, they will also start searching about your product. This indirect launch method is effective for all types of sales, especially B2B.
2. Create connections on several levels
Try to build relationships with the employees of your target company at different levels. For example, executive level employees are fine to start with. Ask them detailed questions like your team structure and who you report to. Try to get the required information and also stay in touch with them for future purposes. Remember, you cannot contact the CEO directly, you must contact them through these initial contacts you make with the company. Getting multiple contacts will give you the desired results in a time efficient manner.
3. Make use of Inmails and emails
Emails and LinkedIn emails (once you get your connection) are the best way to attract the attention of your prospect. Write a creative and engaging pitch about the problems your product solves in the relevant industry and provide a quick glimpse of your product. Try different types of content like infographics, statistics, and case studies and find out which one creates the biggest impact and gets the most responses and inquiries.
4. Teamwork matters
Keep your team motivated and involved. For example, if 4 of your team members are following up on potential company employees, find out what the others are doing. Use a suitable tool to update the status of the traces so that everyone else can see them. Adjust your action plans accordingly for multi-threaded success in sales.
5. Never give up, learn to handle rejections
Rejections are part of the salesperson’s job. In particular, in multi-threaded sales, if any connection is rejecting your product, try to clearly know the reason behind it. If you think the reason is not that strong, try to maintain the relationship by sending product updates through valuable content. Get in touch again at a later time, constant follow ups can help you win the deal. In some other cases, if it doesn’t work, move on to the next lead without wasting time. Positivity helps you regain your focus.
6. Adapt to changes
Multithreading will work differently for different companies. If an interested party doesn’t show much interest in your product, don’t give up. One or the other can understand the need for your product. Also, in sales, everything may not go according to plan. Market fluctuations due to economic conditions, pandemics, or any other sudden changes can occur at any time. Always have a backup plan to accommodate them.
summarizing
The above tips are given by experts who practically followed multithreading in sales and received a positive result. Follow these best practices to win more business. With consistent team effort and crafting a plan of action that works for you, your business can win more multi-threaded deals.
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Categories: Technology
Source: vtt.edu.vn