01 Apr Sales Hunting and Farming
Sales Hunter and Farmer
Sales Hunting and Farming… Every company needs a mix of each of these types on their sales team. BUT, the reality is that there are tons more farmers out there than hunters. Why is this the case? Well, there are varying psychological reports that outline why, but the simplest answer is probably broken down into two parts: hunters receive more rejection, and farming is far easier.
Hunters Receive More Rejection
By the sheer nature of the job description, hunters are far more likely to get shot down in their career than are farmers. And, reality is that human nature forces most of us to shy away from being rejected. Who in their right mind likes to be rejected more than they are accepted? Hunters do, and the reason is simple: the payback for hunters is significantly more if they are not only good at what they do but also deflect rejection successfully. Flat out, they make more money. Why? Because they are able to do what most others have a tough time stomaching: deflect rejection and keep pushing forward. We all know that finding successful hunters is one of the hardest jobs as a sales manager or corporate executive because there just aren’t many out there and the good ones are making too much money to leave where they are at.
Farming is Easier
Why is farming easier? Because it is highly likely that the relationship with the client has already been built and warm leads are abound. If the service has been excellent and you are able to reference it accordingly, the likelihood of getting more business is better than chasing down new ones. Now, it is a fact that farming is a hard sales task as well, but not nearly as hard as hunting. I would challenge anyone to that argument. But farming is also an essential part of building a successful business. Farmers can be the cornerstone of any business, anchoring key strategic accounts. Many businesses are built off of core accounts that carry revenue over many years…all done through farming.
However, continuing to build a business requires hunting and acquiring new logos. Ask yourself how many new clients that your company has acquired in the past 12 months, and are you able to replicate the process? If not, it might be worth considering another option.
Inbound Marketing Hunts and Farms
Inbound marketing works while you sleep and if done correctly will market to new prospects and current clients alike. Farming and hunting tasks can be accomplished in new ways to reach your target market. Expanding the way you interact with your audience is a must since most of your audience is usually not ready to be interrupted.
To hear more, ask us about how to get started on an Inbound Marketing program.
Kevin O’Brien is a Co-Founder and Partner at echogravity. Kevin’s credentials include being a top recruiter for a international Big 8 consulting firm, top business development rep for a global consulting and staffing firm, and consulting with over 100 companies across North America.