"The best means of developing an end-user is through a vendor referral; and the best means of initiating a vendor relationship is through an
end-user relationship."
Too often I hear originators claim that they are strictly vendor focused or that they strictly solicit end-user business. There is "gold in those files". Top originators are well aware of the gold that is right in front of them.
I recently challenged a group of originators (that are vendor driven) to spend just one morning calling all the end-users that were referred to them by vendors and funded within the past three months. These calls were warm calls thanking the end-users for their past business and asking what additional equipment the end-user was considering in the next 30 to 90 days. The results were astonishing. Five originators discovered seven new opportunities within just a few hours. They were opportunities which had a high probability of slipping through the cracks and being lost if the originators had not made their solicitation calls that morning.
End-user driven originators have a similar opportunity by soliciting the vendors that their end-user clients are using to acquire equipment. There is no better "door opener" then when a finance company is delivering proceeds to a vendor for an end-user transaction; it emphasizes how an originator and a vendor share a common customer and how the originator is delighted to help the vendor with his other clients. A highly successful originator explained that his largest vendor and most successful vendor program was initiated through a common end-user which the vendor and originator shared.
There is gold in connecting the dots and leveraging every relationship.
Survive - Thrive - Lead
This "Sales Tip" is provided by Wheeler Business Consulting.
