Did you know 80% of successful sales now take at least five follow-up calls? The sales market has always been competitive, but it’s now even more challenging for independent reps to close deals. These days buyers are more discerning than ever, and it’s no surprise that 97% research a company’s website before responding. At the same time, over 50% of U.S. companies now face financial uncertainty, which makes them a riskier choice for sales reps to work with. Given this, sales reps need to be selective about the company’s they sell for. Ideally, these companies should support remote selling, offer products that customers actually need, and have a solid financial foundation. When a company ticks all these boxes, you’re likely to have a great partnership ahead.
Does the company support remote selling?
Remote selling has transformed the way sales reps work — almost 50% of sales professionals now use email and phone, while 38% use social media, and over 30% use video chat, HubSpot reveals. Sticking to in-person selling, although once effective, actually now limits your reach. In fact, 21% of sales reps have greater success with remote sales. To support remote selling, ask your potential partner what tools they provide independent reps. Do they offer sales prospecting tools, for example, to help find potential buyers and plan your remote outreach across different channels? It’s also useful to enquire about training and technical support provided along with these tools. If the company doesn’t provide these resources, you’ll need to determine if the commission is enough to make it worth buying your own.
Do they listen to the market and innovate?
Selling is a lot easier when sales reps have good products people actually want. So, take a closer look at your potential partner — do they invest in research and innovation to create products that meet evolving consumer needs? AI startups are definitely worth real consideration in this area. As 82% of global companies either already use AI, or are interested in adopting it, a partnership with an AI firm certainly taps into a growing market and gives you access to eager customers. But, don’t rush into any collaborations. It’s important to first verify the company’s tech is legitimate. For example, ask for available case studies that demonstrate the effectiveness of the product in the real world. Request a breakdown of the technical details (like the AI models the tech runs on) to get a clearer picture of the facts behind the marketing hype. You need to be confident the products you sell actually live up to stated claims.
Research financial stability
U.S. corporate bankruptcies are now at their highest levels since 2010, mainly fueled by higher interest rates and lower consumer demand. On top of that, over 50% of companies are in financial difficulty, which makes their long-term survival uncertain. But, don’t let these facts scare you. It’s good for sales reps to be realistic so they can pick businesses most likely to succeed. So, to do this, look at the finances of any company you want to work with. Consistent revenue growth is a positive sign the company is financially healthy, and a good partner in the long term. You can find this information in the company’s annual reports and press releases, or in relevant articles in business journals and trade publications.
As the sales market becomes increasingly competitive, you need to partner with the right companies to more easily attract and retain a solid customer base. So, team up with a financially stable business that supports remote selling and specializes in in-demand products—and you’ll close more deals and build a successful long-term sales career.
• former journalist specializing in research and analysis