Systemize Your Recurring Revenue

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Systemize Your Recurring Revenue

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The holy grail of sales isn’t an endless stream of customers. It’s an endless stream of customers who keep coming back.

Instead of spending all our time focused on converting prospects, the best salespeople ensure that they’re setting themselves up for future successes. That means doing the work today to keep their customers coming back and renewing.

To learn how to systemize recurring revenue regardless of the industry we’re in, we sat down with Troy Small, a former Marine Corps Drill Instructor and current VP of Sales at Skyway Acquisition. We walked us through the process he teaches his salespeople to use that ensures customers keep coming back.

Because we’re trimming hope from our sales strategy, we’ll use the acronym TRIM to guide us through creating a system with a trigger, ensuring it’s repeatable, building in ways to improve it and of course, ensuring it’s measurable and getting us results.

T-Trigger: Troy noted that the trigger of the system it isn’t a mere moment; it’s a comprehensive system designed to set sales professionals on the path to victory from the very beginning.

This process begins in the leadership room, where leaders establish a well-defined framework to guide every step of the sales journey. By triggering this system before engaging with potential clients, sales teams can operate with a level of precision akin to a military operation on autopilot.

The specific process to map is the point in the sale where the sales team turns the new customer over to the delivery team. Once salespeople turn over control of the customer to a new team, there’s a massive opportunity for customer fallout or customer retention.

R-Repeatable: Troy, who draws inspiration from his background training Marine Corps recruits, emphasized the importance of breaking down complex processes into manageable, repeatable steps.

The first part of making this a repeatable system is to track data from the first point of contact with the prospect. You’ll want to begin learning all the things they need to see to consider the relationship a success. Be sure to quantify it with objective outcomes that you can track along the way.

Second, Troy said to remember if you’re not taking notes in every conversation, you’re missing the very information that will cause your prospect to want to renew with you. Each conversation reveals new information about the prospect’s challenges, goals and outcomes that will make the difference between a one-off customer and a long-term buyer.

Third, never assume that you’ve captured all the data. Because your prospect’s world is constantly changing, you need to reconcile your notes against the current state of your prospect’s job, career, industry, and even their customers. Only by showing the prospect that you can stay up to date on their needs will they want to stay up to date on renewing with you.

Fourth, ensure you’re in an open dialogue with your delivery team and are sharing the information you’ve gathered on this new customer. If your delivery team doesn’t know how this new customer defines success, there’s a lot of opportunity to misalignment and nonrenewal.

Finally, engage in what the military calls a ‘hotwash’ with your delivery team after each delivery is completed. You’ll want to know if they communicated clearly with your customer and that the customer felt each of their expectations and deliverables were achieved.

I-Improvable: To improve this system, Troy advocates for an annual stand-down to review your sales and delivery processes. If you don’t have a standardized sales and delivery process with clear hand-offs and communication, now’s a good time to build it.

A great way to improve is also to ask what your team does best in their delivery, as it’s a differentiator you can use to improve your sales process and target the types of customers who value that differentiator more than others.

M-Measurable: To measure the effectiveness of this system, Troy says to measure the amount of time you spend with clients and the topic you’re discussing, because it will tell you what to focus on more or to eliminate with future clients to let them know you’re there as a partner and not as an order-taker.

Finally, measure the amount your client ‘wins’ after delivery of your product or service. This will be different in every industry and will need to be customized to each client but use the notes you captured throughout the sales process to check in with your clients and ensure that they’re achieving their version of success.

That’s how you’ll sell more and serve more.

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