Select Industrial & Manufacturing Clients
Challenges of Manufacturing and Industrial Selling
Heightened competition and pricing pressures in the manufacturing sector have necessitated stronger selling capabilities. However, buyers, leveraging technology, are equipped with volumes of data before engaging with a seller. This preparation boosts expectations in selling meetings. At Richardson, we believe sellers in manufacturing can rise to this challenge by uniting more resources.
In recent years, the manufacturing and industrial sectors have seen an increase of new entrants to the marketplace. Often, these competitors seek to commoditize goods with a price-only focus. This practice makes customer expansion difficult for leading businesses to seek growth via acquisition. However, in the long term, growth can only come from driving sales. Therefore, effective companies are placing renewed focus on selling strategies.
Winning the sale today in manufacturing requires a range of skills that go beyond communicating the value of the product. Buyers often come armed with easily accessed information on a variety of solutions. As a result, salespeople face preconceived notions. This dynamic creates new challenges because the seller is entering the process after opinions have begun to solidify. Moreover, varied selling methodologies, fragmented resources, and siloed sales teams further complicate this challenge.
How should sellers respond? Create greater influence by uniting more resources.
Consistent Messaging Effectively Positions Solutions
Many businesses find growth through strategic acquisitions. However, getting these disparate parts to work in unison requires new skills. Different selling teams have contrasting abilities among differing channels. This variety can lead to inconsistent messaging. Sellers must center around a common approach to effectively present a solution to a buyer.
Manufacturing and Industrial Sales Training Impacts the Bottom Line
Uniform processes must develop around verifiable outcomes. Without measurable results, new initiatives never rise above an aspiration. At Richardson, our industrial sales training clients have enjoyed some significant quantifiable results:
- Post training revenues increased by 30%
- Revenue growth of 90% within the first full year after training
- Reached 139% of annual goal with 44% year-over-year growth
- Average increase in new opportunities per quarter of 12%
Many of our clients discover they have the resources to win the sale; they just need to pull them together into a cohesive approach. This strategy is how one seller “closed a $1.2 million sale with a large client, mainly by listening better and positioning the value of our products.”
We’re teaching sellers in the manufacturing and industrial sectors how to engage today’s buyers with skills that are “relevant, effective, and applicable,” as one seller remarked. Teaching clients to fully leverage all of their resources starts with defining the critical selling behaviors specific to an industry. Next, we show sellers how to develop customer-focused selling skills, which ultimately changes their selling behavior. Finally, we measure outcomes using lead indicators and revenue metrics.
We align teams by focusing different skill sets on a common goal.