The telecommunications industry is forecasted to grow to $1.46 trillion by the end of 2020. While this growth is encouraging for the telecommunications industry, sales professionals will need to be prepared to contend with an expanding array of business challenges and un-traditional competition. In order to gain an edge, telecommunications sales executives will need to adapt their sales approach to position themselves as business partners to their customers and secure their buy-in. Below are ten sales strategies for the telecommunications industry.
1) Start by asking prospects about their telecommunications pain points and business goals
The path to a successful partnership begins with a keen understanding of the client’s specific needs and pain points. Is the client a manufacturing company in need of 5G technology? Or an international medical device company that is dissatisfied with the service offered by its current telecom provider? Where do they want to be in 3 years?
2) Engage in active listening
As prospects begin to disclose their struggles with you, make sure that you are actively listening to each point they discuss. Effective active listening skills include paying attention, paraphrasing the prospect’s concerns, and clarifying the customer’s needs and wants.
3) Appeal to the desires of company stakeholders
Most organizations will require buy-in from multiple executives and stakeholders before investing in a proposed telecommunications solution. You can increase your odds of closing a sale by appealing to the desires of the company’s CFO, Sales VP, COO, and other executives.
4) Reference competitors who are benefiting from your solutions
No one likes to be surpassed by a competitor – especially one that is rapidly gaining industry traction. And if your solutions have helped a prospect’s competitor thrive, then the prospect will be more apt to invest in your products.
5) Anticipate objections and have a plan to overcome them
Common objections to proposed telecommunications solutions include budgetary limitations, fear of change, and training concerns. You can remain a step ahead of prospects by proactively addressing these concerns during your sales pitch and outlining how easy it is to overcome them.
6) Describe how the installation would unfold
Many prospects are reluctant to invest in new solutions because they worry that installation will interrupt productivity and negatively impact their bottom line. The best way to address this concern is to schedule a product demo and outline how simple the installation process is.
7) Emphasize your post-sale support
Another key concern that limits enthusiasm about emerging telecommunications technologies is worry that post-sale support will be lacking. Make sure your prospects are aware of your post-sale service platform and offer to provide customer references to validate your post-sale support.
8) Time your sales pitch properly
Your timing can have a dramatic impact on how well your sales pitch is received. In general, it is a good idea to avoid the end of the year and the end of the quarter when many companies are struggling to maximize profits and limit expenses.
9) Provide an estimated ROI
Securing the buy-in of a company’s CFO or comptroller is often vital to closing a sale. When presenting a product to CFOs, be sure to provide an estimated ROI that the customer would enjoy as a result of investing in your solutions.
10) Highlight long-term benefits
Emphasizing the ways that your telecommunications solutions will boost long-term profitability is essential to securing a sale. In addition to increased profits, highlight other long-term benefits such as compatibility with new applications and decreased maintenance costs.
The Bottom Line
The telecommunications industry is becoming more competitive by the day. Boosting your revenue requires a strategic approach to selling and the ability to become your customer’s trusted partner. You must also build alliances with vendors who can help you deploy the latest innovative telecommunications solutions.