SHOW ME THE MONEY, A.N.U.M
You have a great product, so you should be all set - right? Not quite. At this point you may know What you are selling, When you’re selling it, Where you’re selling it, but do you know to Whom? An integral component of any successful sales venture is identifying its ANUM and then targeting your sales accordingly.
Authority - The first aspect of ANUM is Authority. Who is it that has the authority to make the purchase? If you’re not targeting your sales towards the people and/or companies that have the authority to buy what you are selling, then you can end up spinning your wheels needlessly. Not everyone is the decision maker, so your best sales practice is to focus your efforts on those who are.
Need - Now that you know who has the authority, within that spectrum of people and companies is there a need for what you are selling? This seems like an obvious step, but it is fairly critical. Understand what the needs are of your authoritative person, and make sure you are differentiating between a Need vs. a Want. Once you understand the decision maker’s needs, you can adapt your sales techniques accordingly.
Urgency - Building upon the idea of Need is Urgency. The greater the need, the more urgency to buy! Be consistently vigilant for news within your industry. This can alert you to specific instances where UBT is created: Urgent Buying Time. Your sales team needs to be able to recognize these UBTs and capitalize on them. An example is a business that is expanding, or even one that is closing down. The first instance creates urgent needs for that specific business, in the second instance a hole has been created in the market that a competitor may try to fill - but time is of the essence.
Money - Show me the money! Once you have a clear line on who has Authority, whether there is a Need, and what the level of Urgency is, then you need to look where the money is. Urgency is great, but if they have no capital you aren’t going to be able to sell them anything. Has a grant been offered? Has new funding been announced? Always keep your eye on the money - you can’t sell without someone to buy!
Always remember that it isn’t only about what you are selling, but who you are selling to. Time is money, as we all know, so make sure your sales team is targeting its efforts effectively and efficiently. This means having a clear understanding of ANUM and then implementing it into your sales process. Has shifting your sales targeting with ANUM helped you in your business? Has focusing on the right customer instead of just any customer lead to an increase in revenue? Let us know in the comments!