Six Strategis for Landing the Contract

So you are meeting with a new prospect about his/her upcoming event. Getting them in the door was half the battle, but now you need to land the contract. It is safe to assume that you represent one of many vendors your new prospect will be meeting with, including your primary competitors. How do you get the upperhand, or even the edge to beat out your competitors? While price may be a factor in the decision making process, it won't be everything.

Below are "Six Strategies for Landing the Contract". Follow these strategies and you are sure to beat out your competition.

1. Know Their Business - The internet is a tremendous tool that can be used for more than looking up the latest NBA scores or American Idol results. It is a great resource for collecting valuable information about your prospective customer. Before meeting with your prospect, do some background research to learn about the organization they represent, previous events they have held, professional associations they are a member of, and social networking tools they may use. In your meeting, reference some of the information you have collected.
2. Know Your Business - You need to know your stuff inside out and backwards. There is nothing, and I mean nothing, more off-putting to a prospect than sales staff that is not fully versed in the services they are selling. It is okay to not know answers to highly detailed, event specific, out of the norm, types of questions, but the basics you have to know cold. Capacities, capabilities, technologies, and services are those components of an event every customer will want information about, and every sales person must know. And if you are knew to the sales team, carry a binder, notes or anything that you can refer too. If you don't know the information, you may lose the customer.
3. Know the Alternatives - Scheduling conflicts are no reason to lose out on potential business. Be ready to provide your prospect will alternative dates, times, locations, services, etc. Instead of asking "do you have any alternatve dates" suggest a series of dates and times that you currently have available. Prospects are looking to you to be the solution provider and problem solver. Take on the challenge and responsibility.
   
4. Look Good, Look Really Good - Get your house in order before your prospect shows up. From your office and desk, to the support staff, to the rooms, menus, sales materials and other services you are going to be showing, shoot for perfection. Put everyone on notice when you have a "big" prospect coming in. Introduce key personnel (managers, supervisors and leads) to your prospect.
   
5. Be Fast, Be Accurate - Prospects want two things from you. Quick responses that are deadly accurate. You've had a great meeting with the propect and now you have some work to do in response to questions they have had. You've given them the "I'll get that information over to you by COB tomorrow." Now is your chance to shine as your new schedule is COB TODAY! Pull together all of you information, ensure its accuracy and that you have addressed every question and/or issue that has arisen.
   
6. MEP: Mail, E-mail, Phone - Every prospect wants and deserves follow-up. Within 24 hours of your initial meeting send your prospect a simple "thank you card". No promotional materials, or sales gimicks, just a thank you card. Within 5 business days, E-mail your prospect. Gather more information about the decision making process, competition and offer any additional incentives that might sway their decision. Finally, follow-up with a phone call and "check-in."

Nail these Six Strategies and you will experience an increase in the number of sales conversions for your organization. Your customer base will grow and your competitors will scrambling to keep up with you.

Eric Tompkins, Owner
Tompkins Event Consultants