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When you first receive an RFP or start having conversations with a new prospective customer, it’s easy to make a list of everything you know about them (including anything you can easily find out on your own). What’s much harder, if not downright impossible, during those early stages is outlining everything you don’t know.
Knowing what’s going on above the surface might give you a slight indication of the size, shape, and scope of the iceberg lying underneath, but until you dive in and start to explore, you’ll only be guessing at what’s there. The same is true with new customers. Until you start asking questions, forming a relationship, and making an effort to understand what’s going on in their world, you won’t have a full picture of what they really need, what they’re looking for in a vendor, and how you can provide value to them. The answer to each question should provide you with more insight - it should also lead to more questions. While many salespeople will assume they have a full picture after just a little research or hearing answers to just a few questions, you need to keep searching for more. You need to stay curious. You need to dig deeper. Dive Deeper Before the First Meeting. Researching the company and exploring their website is a good first step, but it’s also the bare minimum you can do to learn about the brand. If the company has a physical store, go to it. If they have a branch location, try to visit it. If you know somebody who works for the company, talk to them. Make an effort to understand the experience and perception the company wants to create firsthand. If your research shows that any higher ups in the company, like the CEO, a board member, or somebody on the senior leadership team, has written a book, hosts a podcast, or writes articles, listen to or read them. Even if they don’t share too much specifically about the company, it’ll give you an idea of who they are and the culture they’ve likely worked to instill. Finally, and this is a big one, if the company is publicly traded, listen to recordings of investor calls or shareholder meetings. Hearing the organization’s leadership talk about their future and the direction they’re hoping to head in will tell you a lot about how the company does business and how they make decisions. This will give you invaluable insight into how they might choose vendor partners, like you. The Discovery Process Doesn't Have an End Date. You’ve done the initial research, you’ve had preliminary meetings, and you’ve started to dive deeper. The discovery phase has ended and it’s time to move into the proposal and then (hopefully) the signed contract phases. Right? Wrong. The discovery process shouldn’t have an end date. Not when the proposal is being created, not once the contract has been signed, and not years down the line when the prospective customer has turned into a long-term one. While many salespeople let up on the gas during the proposal process, it’s the wrong instinct. If you’ve made it to that point, you’ve already started to build trust with the customer and they’re likely getting more comfortable around you. That means they’re more likely to open up, give frank answers to your questions, and share information they may not realize could be important. This is the stage where meetings feel less like an interview and more like a conversation - so make sure you continue to approach those conversations with the same curiosity that you did in the first meeting. This is where you start to uncover the true size and shape of the iceberg. You're Laying a Foundation. When you take the time to figure out what your customer values, you’re laying the groundwork for something bigger than a one-time sale. You’re creating a partnership that will continue to bring value to both of your organizations. Your ongoing curiosity matters for multiple reasons. First, anybody who’s formed a true partnership with a customer knows that it isn’t uncommon for a vendor to become a confidant, advisor, consultant, and sometimes makeshift therapist. In these early days, your curiosity and commitment to learning more shows that this is the kind of relationship you’re interested in forming. Second, in the short-term, you’re understanding what solutions they really need. Yes, they’ve already established that they want your products or services, but maybe there is an additional service they could use. Maybe the product they inquired about isn’t the one that is best suited for their needs. Maybe there is a way to create a more comprehensive solution to fill a variety of needs. Hitting a home run the first time you work with them will make them want to continue working with you. And, of course, you’re able to provide more value and be of service, which is what selling is really about. Learn More. Iceberg Selling is a technique grounded in the understanding that for every person, organization, and situation, you can only see 10% of what’s really going on. By adopting the right mindsets, prioritizing building relationships, and approaching customers with genuine curiosity, you can start to explore the other 90% and improve your sales performance. Get the book to learn more about Iceberg Selling. Comments are closed.
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