My Fee Structure
Historically, professional service organizations like mine have billed their services by the hour. That’s great for me, but it shifts all of the business risk from me to you, and that doesn’t seem fair. Because of my experience and faith in my ability to succeed as one of your representatives, I choose a different path.
My standard rate is $75 an hour, but I am willing to cut that rate in half, assuming that I can negotiate a commission schedule that’s beneficial to both of us. That means that under the right circumstances, I am willing to take on responsibility for the entire front end of your businesses sales process.
That means in order for both of us to maximize our profits, we each need to do our fair share in growing your business.
And if you don’t want to share the increased revenue with me, and not everyone does, you may just pay my hourly rate. Either way, I am able to earn a reasonable profit.
Growth Results from Just Two Sources
There are just two sources for business growth. One way businesses grow is by taking the most valuable customers away from the competition. I excel at that, and you’ll be surprised when you find out how easy it is for me to do it.
The second way to grow your business is by selling more to your current customers. Think about it. If you aren’t providing the equipment and aftermarket products and services your customers need, who are they buying them from? Answer? Your competition! For both our sakes, I know how to put a halt to that. Again, it’s not hard to do. It’s sort of like shooting fish in a barrel.
Selling more to your existing customers benefits you and your business two other ways. The more aftermarket products and services you sell your customers, the longer they will remain loyal to you. It’s called cross-selling, and it’s the key to improved customer retention.
The second way? The longer the customer remains loyal to your business, the greater the opportunity to sell them more equipment. Improved customer retention and customer loyalty are critical elements in not having to start over every fiscal year. And selling more high-margin aftermarket products and services improves your gross margin, your cash flow, and your bottom line. If you would like to see how I do it, I would be glad to show you. It’s simple.
Equipment manufacturers have been very successful in getting their distributors to focus on equipment sales. In turn, distributors do the same thing to their salespeople. They incentivize equipment sales; that translates into equipment quotas. And that results in a sense of immediacy throughout the entire sales organization. How many units can we sell this month?
That’s fine, but that sense of immediacy has resulted in a misunderstanding throughout the entire industry–that the only good lead is a hot lead, someone who is ready to buy now. And that’s not true.
In your sales territory, a certain percentage of end-users are going to buy new equipment this year. And that percentage of end-users will buy new equipment next year, and the year after that, and the year after that, etc.
Wouldn’t it be better if, in addition to corralling all the end-users who plan to buy this year, I began tracking and building relationships with all of the those who plan to buy next year? After all, you are planning to be here next year, aren’t you?
I’ve developed marketing and sales processes that enable me to maximize the number of equipment leads this year and next year too. Doesn’t it make sense to do both?
I maximize leads, because it’s how I maximize income. That, and it keeps me from having to start over again next year, and the year after that. It will work for you too, and it’s part of my service. It’s that little extra something that makes it a win/win for both of us.
Capitalizing on Your Business’s Unique-ness
Whether you call it a value proposition or a unique selling proposition, in marketing it is essential to differentiate the unique advantages your business provides customers. The objective is to make your business standout from your competition.
If you don’t have such a value proposition, one that sets you apart from the competition, I’m glad to help you develop one. But here’s the point. In the same sense that your business benefits financially from having and sharing a great value proposition, as a sales rep, so do I. That’s why I will deliver your value proposition without fuss, failure, or fumble 100% of the time. Doing so is in both our best interests.
Unlike your salespeople who specialize in closing deals, I specialize in gathering actionable marketing and sales information that I use to generate a steady, ongoing stream of qualified sales-ready leads which I furnish to your salespeople.
In addition to contact information, the data I gather includes how many lift trucks a customer or prospect has; the classes of those lift trucks; who they buy parts from; who is servicing their equipment; how many shifts they work each day, etc. I gather everything that is necessary to market the equipment and aftermarket products and services our business partners sell.
In the process, I gather hundreds of thousands of data points. Then I mine the data to generate sales leads. For instance, if a Qualified Decision Maker (QDM) tells me he’s planning to buy equipment at the end of next year, my marketing system will automatically begin delivering marketing content to him and then remind me when it’s time to contact him about his upcoming equipment needs. And while we are waiting for him to buy equipment, I will proactively market aftermarket products and services to him. I take a holistic approach to generating leads. Whatever a customer or prospect needs, if you provide it, I’ll generate leads for it. All of the data I gather on behalf of my business partners belongs exclusively to them. I waive all claim to it, and that waiver is contained in my written working agreement.
Further, I am loyal. I will not work for any business that directly competes with a business partner within their sales territory.
I also track the outcome of every marketing activity. I provide bi-weekly, monthly, annual, and cumulative reports showing the outcome of every marketing activity. You will never wonder what I am doing, how productive I am, or how much future business is in the queue.
I’ll report on how many contacts I made, how many QDMs with whom I’ve spoken, and over 25 other outcomes I track. As my business partner, you need to know what I’m doing, and I need to know how it’s working for your closers.