A while back I was introduced to something called Told/Sold. I’m not from a sales background and therefore I didn’t have a great understanding of gap analysis, so this was a fantastic insight for me. What Told/Sold basically does is ask “Who are the customers that you’ve currently got?”, “What are all of the products and services that you could offer a customer or a client?” By using a matrix, it allows you to identify which clients you have told about which products and services and which of them have bought from you. I hope this clearly explains the term Told/Sold.
If you start looking at who has been told and who has been sold, you will find the gaps. There will be people who have been told about a product or service, but have not bought yet and people who have never been told at all. Imagine you could write down an entire list of people who need to be told about your new products and services. This is a specific list. It’s only the people who have not been told before and you’re about to write an email to them saying, “Dear John, did you know that we also do this?” Imagine doing that for every product and service that you offer and against every client that you’ve got. Imagine you’ve got to write individual emails saying “This is another product or service”, or “This is a problem that people have and how we solve that problem.”
I know that this sounds quite arduous, but with the use of an email marketing tool that can automate some at this for you it has real potential to be a strong lead generating activity with existing clients. An automated Told/Sold process would send out a pre-written email to the people from your client list that have not previously been sold or told about that product or service.
The email may include an offer for a special deal within a certain time frame. In writing an email for every product and service that you offer and using a system that could automatically go through the list and select the relevant people to send each email to you could generate a lot of extra business.
Told/Sold is a fairly easy concept, which could boost your sales, but it is labour intensive. Take some time now to list some of your clients and the products and services that you offer. Go through the list and tick who should be told about which products or services from the range that you are offering.
The only software we know of that automates gap analysis (Told/Sold) is HighwayCRM.