Similar customers have similar motivations and similar needs. If you can identify a particular customer in a particular industry, position, occupation, or situation and then sell your product or service to that customer, you will have learned some- thing vital and important. You will have learned a lot about how to sell to other people who are similar to the customer with whom you have just closed the deal.
Let’s say you make a sale to a person who works in a particular industry. To make that sale, you will have had to learn a great deal about that industry and how it functions. Now you have a knowledge base. Now you can take that same skill and knowledge and turn to another individual in the same industry and capitalize on what you have learned. You can take advantage of your ability to sell in that type of market.
Your knowledge of the way your customer does business is valuable. It can be your stock in trade as a salesperson. The more you know about the functioning of your customer’s industry or field, the easier it is for you to sell to that particular type of customer. You are much more capable of identifying and solving problems or satisfying needs with what you sell.
Specialize in a Particular Industry
A friend of mine joined the life insurance industry in sales some years ago. He concluded very quickly that people who had more money were better prospects than people who had less money. He also saw, of course, that doctors and other medical professionals had a high, consistent, and predictable level of income. Therefore, if he could sell to medical professionals, he could create quite a business for himself.
But instead of calling doctors and dentists out of the yellow pages, he began a detailed research project that ultimately took two years to complete. He learned everything he could about the way medical professionals structure their finances. He read books and attended medical conventions. He interviewed countless medical professionals and talked to other people who had medical professionals as clients.
Eventually he was asked to speak on financial planning to groups of doctors. Soon he came to be recognized as a financial planning and insurance expert for people who were earning their living in one of the medical professions.
As his reputation for expertise in this area spread, business began to flow to him like a river. He was successful because he had used the twin ideas of first seeking out an opportunity area, and then exploiting it to the full by becoming an expert in that area. He didn’t stop when he identified a market. He followed through to find the best way to reach that market.
People always want to buy from the experts. Customers always want to deal with the individuals and organizations they feel are the best in the industry. When you focus on becoming an expert in a particular field, more and more people in that field will want to do business with you.