The 4 P’s of Sales Effectiveness is not to be mistaken for the 4 P’s of Marketing. Even though, we often learn and hear about the 4 P’s of Marketing( Product, Price, Place, and Promotion) and they are a staple guide in determining a marketing plan to reach your target audience, they certainly aren’t the only set of P’s you need to know.
The 4 P’s of Sales Effectiveness
The 4 P’s of Sales Effectiveness are used as guidelines for sales representatives when communicating with clients and prospective clients. The 4 P’s are Promptness, Persistence, Personalization, and Performance.
Promptness
When looking at sales effectiveness, promptness refers to how quickly you are able to follow up on a request that has been made. Being prompt is important, especially when trying to close a deal. If you wait too long, this could not only become concerning to the prospect but also leave much more time for a competitor to swoop in and steal them away. According to Podium, “When customers are reaching out to businesses for quotes or questions, 50% of leads go with the vendor that responds first…” there is no time to waste, get the lead while they’re hot!
Persistence
Persistence refers to the number of times you follow up with the prospect after the initial message. Persistence is important when it comes to business because we all know that once requests start flowing, they don’t stop! Next thing you know, your inbox is flooded and messages get lost. A friendly follow-up is healthy, and it almost always takes a bit of back-and-forth to close a deal; however, it is just as important to understand the fine line between following up and coming across as annoying. Nothing could be more of a red flag than a pushy sales rep. Read the room and know your cue. Check out our related web story on how to stay out of the spam box here!
Personalization
Personalization, personalization, personalization… definitely the most time-consuming, but definitely the most important! Crafting a personalized message to a lead can go a long way. According to Marketing Dive, you can follow this 5-part personalization guide when drafting a message:
- Personalized Greeting: Refer to the contact by their name
- Individual Sender: The “From” line of the email preferably lists the sender’s/your name
- Signature or Contact Info: Have a solid email signature with your email and phone number to allow for easy communication
- Progression/CTA: Be sure to move the conversation forward by asking for a meeting time, or offering to answer questions – have a “next step” in place
- Personalized Content: When reading through the message before sending it, make sure that you have addressed any and all of the requests the prospect might have
Although this checklist might seem strenuous, being an effective communicator and establishing that personal connection early on can make a client feel confident in your hands.
Performance
The final P of Sales Effectiveness is performance. Personalization and Performance go hand in hand quite nicely. Performance is all about executing things properly so your email ends at the top of their inbox, and not in their spam folder. Many emailing platforms offer filters so emails can automatically get sorted as they come in. As long as you address the five steps when personalizing, you should be set up for success!
Conclusion
The 4 P’s of Sales Effectiveness are not only important to close a deal but to establish a communication standard with all clients. The majority of the time, clients just want to feel confident, feel that we prioritize them and that we are putting in the time and effort to see the value of their business. Time is the root of all of this, and we all know that time usually works against us. Taking the time to reach out, follow up, and personalize conversations will only increase your chances of securing deals and creating long-lasting relationships.