Top originators in the commercial equipment leasing and finance industry are well organized and have a workable database that is up to date.
Originators are adapting to changes which are quickly emerging in 2020. The databases of top producers reflect these changes with new clients, new prospects, and ranking systems that place past clients into proper categorizations. A strong database reflects current market conditions. A low ranked 2019 prospect may suddenly become a top priority in the fourth quarter of 2020. Conversely, a top 2019 client may now be a low ranked opportunity. The market has changed. Prospects' and clients' requirements change. An originator's capabilities and priorities may change. Therefore, an originator's database should also reflect change.
Several years ago, I helped review the database of a top producer. The database was a living document with constant alterations to track his prospects, opportunities, and clients. The information was all up to date. HIs contacts were current - sales representatives within vendors were marked by tenure, sales volume, territory, and financing activity. The originator had a multi-dimensional ranking system for his vendors and end-users; and qualifying matrices to move vendors and end-users up and down through the ranking system. The database tracked competitors and his ability to compete. His CRM provided him with the necessary tools to maximize his time, organization, and personal production. His sales volume within his company was always 50% greater than his peers. His database management skills allowed him to outperform his internal peers and external competitors.
As a top producer, you should have a robust, ever-changing database that is current and meaningful. It is well worth the time and effort to be organized. A meaningful database allows an originator to be proactive in the market, rather than reactive. A meaningful database allows an originator to be more efficient, better prepared, and professional. A meaningful database allows an originator to work smarter and to maximize his income.
Survive - Thrive - Lead
This "Sales Tip" is provided by Wheeler Business Consulting.