A Fracking Sales Job is a method of finding extra value in your deals, and extracting it, rather than just spending your time and energy on brand new opportunities. Learn more about the fracking sales jobs here.
Fracking Sales Jobs: What does Fracking have to do with Sales?
Fracking is a method used to extract natural gas or oil from tight rock formations, which would normally make extraction difficult.
These formations are blasted at high pressure with water and sand. This eventually cracks the rock, allowing the oil and gas to rise to the surface.
What does this have to do with sales?
Everything.
You can reach new markets and create valuable opportunities by applying pressure to the right places within your pipeline.
Just like when you search for oil, sometimes in sales, you are right next to your next big opportunity but don’t know how or don’t use it because it seems too difficult.
Sales fracking is a way to find hidden opportunities in existing deals and extract maximum value from them, rather than wasting energy digging a new trench.
The pandemic has opened up new markets for almost all industries that are just waiting for their products.
Sales professionals must have a solid plan to identify and sell to new and established audiences quickly and efficiently, despite the quota.
Fracking is a great way to do this.
You might be wondering what fracking can do for your mid-pandemic sales. We’ll hydrologically break it down in three simple steps so you can maximize your sales pipeline.
Step 1: Locate new markets with your closed-won offers
Your team’s accomplishments over the last few months will be key to identifying your next opportunity.
Your closed-won deals are your dowsing rod. Every question you ask will get you one step closer to striking the motherload.
The beauty of mining your existing sales pipeline is that you can still use them to identify potential new opportunities, regardless of whether they are old or new.
There is a good chance that some new markets and persons have already entered your deals as a result of the pandemic. If your recently closed deals look like they belong to the usual suspects that is okay too.
Not all companies will be given new markets on silver platters.
You can also look at closed-lost opportunities which made it to the final stages of negotiations. Deals that reach this stage still indicate buying intent. It could have been the pricing or service that was the problem.
These are all good places to start to frack.
To gain insight into how to better identify and approach new opportunities with a greater chance of closing, take stock of your most recent deals and note the positives and negatives.
Take a look at your past deals, and ask yourself:
In what industry are they?
Who was the decision-maker
Were there multiple decision-makers?
What was their budget for?
How long did it take for it to close?
Most importantly, ” What was their greatest pain point?
This analysis will help you determine who to speak to and which problems to investigate for the best results. You will have a shorter sales cycle.
Step 2: Locate your customer’s competitors
Reviewing your closed-won deals will reveal a wealth of resource-rich markets and business opportunities.
You can close a deal with another company if you did it during the pandemic. It’s as easy as finding the right company to contact next.
You don’t even need a map or an oil well to do this step. Just Google. You can search for businesses with industry overlap and close-won deals.
You can even Google “[ closed won account] competitors”
Don’t forget to include Bing and other search engines. Keyword SEO targeting and Pay-per-click (PPC) are two examples of the many sources of content available. An omnichannel search approach is strongly recommended.
LinkedIn is a great way to get in touch with decision-makers at these companies if you want to improve your game.
Other advanced solutions such as ZoomInfo, Clearbit, or business directories (like franchisee owners) can also be used to enhance your fracking efforts and help you find more information quickly about your prospects.
Step 3: Get Frackin’
We can now begin fracking once we have found our oil field. This is where you can blast your prospects with dials and emails.
This is the time to apply pressure and ask questions about your prospects until you find oil.
You can use the information from closed-won deals as a guide to help you identify the most relevant questions to ask your prospect. This is what makes this step high-pressure prospecting and not regular prospecting.
Find something you can work on together and let it rise up to the top of your conversation.
Don’t be afraid of sharing your strategy with prospects. You might say something like ” Businesses similar to yours, even competition, use [your product] — would it be possible to learn more about why?
Asking questions like these will position your product as a benefit that the other team already has and which your prospect now needs.
Be gentle and not be rude
Although we mentioned that real-life fracking involves the use of sand, this is something you should not include in the sales version. We don’t mean to be insensitive when we say ask high-pressure questions.
Don’t forget. We are still at the center of a global pandemic. Even if your competitor is in the same space, it might be too late for your prospect to buy.
Be compassionate and customer-centric. Remember that the goal of these tough questions is to identify the real pain of your customer so that you can HELP them.
Do not push too hard.
It can be difficult to find the right balance, but it will make you stand out and help you win new business.
It’s time for you to close
After you’ve completed the three steps to mining your sales pipeline there’s still the negotiating, pricing and etc.
Fracking is a way to get started and create new business opportunities by evaluating your closed-won contracts.
However, fracking is limited in its ability to do so much.
You must hustle to close your deals. Make sure you use all your sales-related skills. Check your CRM data regularly for accuracy, create sales documents that are polished and professional-looking, and never, ever take your eyes off the prize.
Fracking is a great way to get into new markets.
Fracking is a great option if you are stuck in a sales rut due to the pandemic.
Conclusion
A fracking sales job is one where you look for new opportunities in your existing deals to extract more value from them, rather than just wasting your time and energy by digging up new trenches. Use this sales tactic to take your business to the next level.
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