Does your company revolve around sales of industrial construction equipment? Selling industrial construction equipment requires a more specific methodology than traditional business-to-consumer (B2C) sales. When performed correctly, however, it can yield a high return on your investment. To increase your chances of success, you should avoid making the following mistakes when selling industrial construction equipment.
Some salespersons assume that commercial construction is the same as industrial construction. While they share some similarities, they are two unique fields of construction with their own respective characteristics. Industrial construction, for instance, involves the installation and maintenance of factories, power plants and other industrial complexes, whereas commercial construction covers all construction activities pertaining to businesses. As such, you need to focus your marketing and sales efforts on industrial construction companies and not commercial construction companies.
Another common mistake to avoid when selling industrial construction equipment is failing to upsell. When a prospect expresses interest in a product, ask to see if he or she is interested in upgraded to a better model. Known as "upselling," this is a simple and effective way to boost your per-customer revenue. Granted, some customers may decline to buy the upgraded product -- and that's okay. Even if your conversion rate is only 5%, however, upselling is still well worth the nominal investment of your time and energy.
Of course, you should also cross-sell relevant equipment and services to customers. While upselling involves pitching an upgraded version of the product, cross-selling involves pitching related products or services. A customer who's interested in buying a bulldozer, for instance, may also be interested in attachments. Alternatively, perhaps that customer is interested in an extended warranty or service plan. The only way you'll know is by asking the customer, so don't make the mistake of overlooking cross-selling.
Just because a prospect has converted into a customer doesn't necessarily mean that you should end your relationship with him or her. On the contrary, you should continue to nurture that customer to increase the chance of follow-up sales in the future.