Opinion may be divided as to whether it is a factor of 5, 8 or more, but, whatever the multiplier is; all experts agree is that the cost of finding a new customer so called “hunting” is significantly more expensive than winning repeat or additional business from an existing client so called “farming.”

Hunting and Farming

To succeed in business you need to be good at both. This is not always as easy as it sounds. Successful deal makers can be great at clinching new business, but find handling day to day queries from existing clients tedious. In some, mainly larger organisations a dual sales approach is sometimes found, using account managers (Farmers), possibly office based complementing the field based Hunters.

The need for Hunting

Just to stand still, we need to win new customers. We live in dynamic times, customers can move on, close, be acquired or die. However well you look after your customer base, some will be lost. Hunting needs to replace the losses but is also key to growth. Good Hunters not only win new business in familiar areas, “The Comfort Zone” but are also seek out opportunities in new areas.

The stereotype of a Hunter is someone motivated by money, whilst often true, the actual race to win the deal and recognition also motivates them. Good hunters will rarely last long in a business that fails to deliver on these factors.

Better Farming

It may come as a surprise, but many businesses are doing better at Hunting than at Farming. This is often down to pressure of work, although intentions are good, that courtesy call never gets made. Here are some tips to help your farming;

• Have a system in place to remind you to maintain contact using a Calendar or CRM (Customer Relationship Manager)
• Newsletters keep customers in touch with new products, services and company news
• Web conferencing is an easy and cost effective way to maintain contact over wide areas
• User Forums, either venue or online.
• Telephone or at least email contact
• Always notify customers of organisational changes

Better Hunting

To win over a customer, they need to be confident that the product or service meets their needs and that the supplier will deliver and support it satisfactorily. The sales person plays a keep part in both. Here are some tips to help your hunting succeed;

• Targeting, don’t waste effort where the product in offer doesn’t satisfy needs
• Be aware of competition, if you are better at A and they are better at B, target customers looking for A
• Be contactable and organised, failure on either will lose confidence
• Have a reference customers willing to speak up for you
• Prepare for meetings, try to have expertise on hand, if you cannot answer a query, don’t invent an answer instead promise to get back to them