to-face relationships from 32 banks down to two. So, here is this poor sales team working like crazy to get in there – and they have no hope of doing so.” To avoid such situations, Rack-


ham recommends teaming up with your marketing department. “Most sales organizations, particularly at the level of individual sales manag- ers, don’t go to their own market- ing departments and ask for help,” he says. “Go to marketing and try to use them as a data source. Say, ‘Hey, I expect you to help me find out these things about this company. And, I expect you to tell me whether this is the best segment for me to be targeting – and whether there is another company I should be going after that is better than this.’”


THE RIGHT VALUE


The second step in the journey to winning a major account is creating a compelling offer. “Once you’ve identified a desirable target,” says Rackham, “you have to think about what specifically you are offering that is going to have real value to this customer. That is one of the big, big things about getting in the door. How do you earn the right to do it?” The best way is by creating a customized value proposition. Says Rackham, “Salespeople ought to look at the particular customer and say, ‘What could we do for this customer that no one else can? What is the most valuable single thing we could provide them?’ And then, work and work and work at refining the mes- sage into a very customer-specific value proposition.


“The wonderful thing about the In- ternet is you can find a huge amount of information about customers,” he continues. “So, go through all the possible search engines and look at the things that have been reported and published, such as annual reports. Try to build up the case before you approach them. If you have done the right kind of work, you’ll find you’ve got a fairly exciting message to offer.”


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The consultant suggests using a strategic planning tool called a SWOT Analysis to strengthen your value message. “What are the customer’s Strengths? What are their Weak- nesses? What are their Opportunities? What are their Threats?” he asks. “Now, step back and try to link your strengths to the higher priority issues in the customer’s organization. Write the message you would give if you had the opportunity to get into their senior executive’s office.”


CONTACTING THE RIGHT PEOPLE The last of the three initial steps to opening new accounts is choosing the best contact points within the custom- er’s organization. “In the old days, you would make a call to a company and pay them a visit and they’d probably give you a try. But that is no longer true. Now, you can’t get in the door – and anyone who has time to talk to you probably isn’t worth talking to,” says Rackham. Instead, he recommends a mul- tipoint contact strategy: “You can never rely on one person because – even if that person can get you in the door – you are very vulnerable if he is your only contact and your only source of information. To get a big decision, you need a coalition inside the organization; and, if you get too aligned with one person too early, it


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can actually defeat your chances of getting in.”


Rackham advises developing three contact points: • A contact who is receptive to your message – that is, someone who is very interested in the solutions you provide and will provide infor- mation and access.


• The problem owner – the person responsible for the problem your value proposition addresses.


• The budget holder, the person who will pay for your solution. “They may all exist in one person,” Rackham says, “but it’s more likely that they’ll exist in three different people. So that means that you have to be prepared to talk to each one.” 


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