| Selling to merging companies One of your biggest customers has just been acquired by another
company. Your primary contact has been reassigned. Don't panic. Here's advice to help you
turn the merger into new sales opportunities.
by Terry Bragg
Mergers and acquisitions create havoc for unprepared
salespeople. They change the rules of the sales game. They can ruin years of work,
preparation and relationship building.
Dont be caught off guard. Aggressively protect your
sales territory during a merger or acquisition. By taking nine specific actions, you can
save your clients and turn the merger into an opportunity to increase your sales.
1) Identify real decision makers. Note who has influence
and power in the merging organizations. Power struggles are normal for merging companies.
Be sure you dont get caught in the middle. You must still sell to decision makers
and to people who can authorize purchases of your products and services.
Try to identify key players who will be calling the shots
after the merger. Begin building relationships with these key players. If you already have
relationships with them, offer them your help and assistance during the transition period.
2) Pay attention to your customer service. This is not the
time to let your customer service slip. Pay attention to details. Dont let things
slip. The new company will re-evaluate you and your product. Make sure you are doing the
things that originally earned you their business.
3) Increase your visibility. People in the merged
organization need to know who you are and what you offer. Contact them early and often.
Talk to them about their new needs and strategies. Ask about new opportunities to sell
your products or services.
4) Dont take your accounts for granted. Expect that
you must earn their business again. Merging companies typically consolidate their
operations and eliminate redundancies. They may ask that you renegotiate deals or offer
better prices and service because of larger orders. Anticipate these requests and do your
homework.
Begin educating your contacts in the new organization about
the features and benefits of your products and services. Educate, educate, educate.
Dont assume they know or appreciate what you offer or provide.
5) Dont expect people to know what is going on.
Confusion about priorities, responsibilities and goals is normal during a merger. Ask
about priorities, responsibilities and goals, but dont expect people to understand
them, at least not initially. It may take a couple of years for the organization to settle
down.
6) Expect employees to be disgruntled and unhappy. Bailout
by key staff is normal after a merger. Dont be sucked into gripe sessions. You must
remain professional and unbiased. The merger was a business decision that affects you and
the employees in the merged organization. You cant change the merger, so dont
waste time complaining about it.
7) Increase and improve communication with your contacts in
the new organization. Communication deteriorates quickly as a merger develops. Communicate
often with your contacts in the company. Dont assume that they received and
understood your message. Verify everything. Use several means of communicating with your
customers, including e-mail, personal meetings and letters. Send information on your
products and services to all key players.
8) Learn and comply with new systems that develop. Merged
organizations may change their information, purchasing and approval systems. You must
learn what these changes are and comply with the new systems. Make sure you are easy to
work with by fitting within their systems.
9) Look for problems you can help solve. Whats
causing headaches in the new organization? How can you provide relief for these headaches?
Where does it hurt and how can you help relieve the pain? Position yourself as an asset
and a resource for solving problems in the new organization.
Selling to merging companies is a new game. Prepare
yourself and position yourself and your product to grow with the new company. Be
proactive, persistent and productive in building relationships, and help to satisfy the
real needs of the new company.
Terry Bragg, the founder of Peacemakers Training in Salt
Lake City, is the author of 31 Days to High Self-Esteem. For information about his
speeches, books, workshops and other programs, contact him at 801-288-9303 or e-mail him
at terry@terrybragg.com.
This article originally appeared in
the May/June 1999 issue of Progressive Distributor. Copyright
1999.
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