Category Archives: Sales

Want to increase your sales? Use this method to double or even triple them

We all know that you need to check the right V when selling your product. The fact that some clients hide their abjection to buy just makes it harder to do your job. Wouldn’t it be great if there was a tool that would help you uncover the reason that prospect didn’t buy?

The follow-up

People have gotten used to having things done easy and on the spot. While this will work, it will only generate a low conversion rate. If you follow up correctly it will provide you with two things. One is the option to close another client. And two, it will increase the types of rejections you know how to deal with.

The wrong follow up

The follow up is not meant only for the client that says they will have money in a week or so. It’s a great way to gather more information. But you have to be smart, don’t just go for a quick close. Ask questions, let the prospect know you want to understand him.

The right follow up

If you’re talking to a client that asked you to call back later, ask him how he’s doing. If he indicated that he was on a trip ask how it was. Try to get him to bring up the product you want to sell.

If you’re calling a prospect that already said no to your product, acknowledge it. Start the conversation with “We talked a few weeks ago and I understand you don’t want to go forward, may I ask why?” When you acknowledge the fact he said no, you defuse the tension. He’s no longer defensive and waiting for your pitch.

Now that the prospect is willing to listen to you, ask what you could have done differently. What he was expecting but didn’t get. Sometimes those requests will be out of the question, but sometimes they will be small requests that you can solve on the spot.

So when he brings up one of those small rejections go deeper into it. Let’s say he said the price was too high. Ask him if he got a lower price and what it was. If the difference is something you can comfortably handle, ask if he would close now if you gave him a discount.

It’s that easy

Not everyone is going to buy, but if you increase your conversions by 3% to 5% isn’t it worth it?

Advertisements

The difference between cold calls and sales calls

When calling prospects in any field you have three basic type of “sales calls” you can make. You can call leads, lists, and cold calls. There are a few basic differences between them that you need to be aware of before you start the conversation so that you don’t lose a potential client.

Types of calls

Cold calls

This is the least time effective type of calls you can make. Cold calls are made to random people who don’t even know you’re going to call them. They didn’t show any interest in your product or service.

If you want to use this method to generate new leads you can use cold calls as a screening service. Converting random people to leads after they show some kind of interest. Screening can provide you with high-value leads, but never try to sell to a cold call (unless you like processing refunds).

Lists

Lists could have been leads at some point. They usually used to be leads for another company or product. The only difference between them and cold calls is that they showed some kind of interest in the past.

As with cold calls, I would not recommend trying to sell them on any idea. But they are better for screening as they were interested in the past.

Leads

Leads are prospects that have shown interest in the product or service you’re offering. They are ready to hear your sales pitch. There are many types of leads and levels of willingness to buy your product.

Leads can also be “cooked” to make sure they will buy more. As well as “cooked” after they don’t buy.

 

Call your leads

You would think that as a self-employed professional you would be excited to get new leads, as excited as a child on Christmas morning. But that doesn’t seem to be the case, too many professionals are putting off calling their leads and but the time they do the leads have cooled off.

An uncomfortable conversation

Understandably calling someone you don’t know is uncomfortable. But if someone left you his information he’s expecting a callback, and if you don’t do it your competition will. You don’t really think he’s only leaving you his information, do you? People only get things done when their back is against the wall so if a prospect is leaving his info he’s in pain. And that pain has to stop now, he doesn’t care who will help him. He only cares that someone will help him fast.

How to start the conversation

A common mistake is that professionals call the client like their calling their wife after a fight. Yeah, what do you need? That’s not the way to do it. Take your time ask questions, start with “is this a good time to talk?” Your prospect might be busy and ask you to call back another time, don’t assume he’s rejecting you. The first contact is more a customer service call than a sales call. When you’re done send an email with contact info so that he can get back to you if needed.

Track your progress

The most important thing you can do after a call is to track how many conversions you have (prospects that ended up as sales). This will allow you to understand what to expect, not everyone is going to buy from you so you should know what your percentages should be in the future.

So the next time you get a lead remember, this person needs help now call him as soon as you can.

The why and the why now

Sales is an art, an art of finding the right product for the right people. Many people who work in sales are not real salesmen, they think that forcing someone to buy or manipulating them is considered sales. In order to find the right product for the right client, you need to understand everything you can about the product. When I was working for 4chef a high-end kitchenware retailer I was the top salesman in the entire chain. Was I better than anyone else? No. I just took the time to understand how the product work.

To be a real salesman you only need to answer two unasked questions for the client, why and why now.

Why

Most of the time the client doesn’t know that he needs a certain product, he just knows he has a problem. It’s your job to know what product can solve his problem. The better your product fixes the problem the better the chances that the same client will come back to you when he needs something else.

Remember the first time the clients enters your place of business you had to get him there. whether you paid for advertising or give him a discount. Your real profit starts from the second time the clients comes to you and his referrals.

Why now

Why now, is the closer. While knowing what can solve the problem is an effective way to match the product with the client, why now is the most effective closer. People have a hard time making up their minds, it doesn’t mean there’s something wrong with your pitch it’s jus how it is. That’s why the most common answer is “I have to think about it”.

Giving a reason to take action now is the most important part of the sale otherwise, why would the clients take action at all. The why now differs from business to business. Find a reason for the clients to take action on the spot, a discount, supplies running out etc.

The “way now” also helps you with clients that just can’t buy on the spot. You could give them an extension of the sale or whatever it is you offered them. For a limited time of course.

I hope you found this post helpful, if so like it and share it with your friends. And while you’re at it, check out my ebook ‘level up your business’ a guide to starting your own business the right way.

 

Get a grip on reality – a call center fail

I was just in a meeting with a very nice old woman who has an online tutoring business. The professional side of the business is handled very well. She has teachers working from her offices (something that can save her a lot of migraine in the future). The one thing that doesn’t make sense is her sales department.

Her sales department consists of two people (from what I saw) and she’s trying to recruit salesmen aggressively. But something in her pitch doesn’t make sense.

She claims to have so many leads that a full call center of 12 will always have leads to call. She said the leads are never more than three days old, and she said that she pays more than $50 commission per sale. I don’t get how her call center is not packed with salesmen making millions of dollars.

When I asked her how this happened she explained that she doesn’t accept anyone for the job. She expects that a salesman will close two out of three leads. That will never happen! I don’t care how good he is. 

Understand that when you’re talking to a lead he might just want to get more information, he might be asking for a relative or a friend, and he might be one of those people with way too much time on their hands and nothing better to do with it.

In addition, the leads that will buy won’t all buy right now.

Potential problems

She’s clearly paying a lot for each lead and she doesn’t have a lot of wiggle room. Meaning that if leads are not handled properly she can’t afford the loss. She also sounds like she doesn’t have a lot of sales experience even though she said she has been in sales for 20 years. Even worse there has to be something else I can’t see right away, otherwise, that call center would be crawling with salespeople.

How can you avoid this issue?

When first starting out try to do everything yourself. When you start hiring employees you have to know the business like the back of your hand. You have to understand where the root of the problem is before you can fix it. And never put the future of your business in the hands of your employees (at least till you get to know them).

I hope you found this post helpful, if so like it and share it with your friends. And while you’re at it, check out my ebook ‘level up your business’ a guide to starting your own business the right way.

What is your client’s retention rate?

How long do your clients keep buying your products or use your services? If they do stop did you ever ask yourself why? We sometimes forget that for a client to spend money he has to get some kind of payoff. Did he get all he can out of your business after just three months? Six months?

Customer value

When you first get a client you spend money on advertising, you pay your sales department commission for the sales. So much money is flowing out of your business, it’s time to pump some money back in. A customers value is the profit you make off him after deducting all the costs.

Let’s assume you paid $1,000 for an ad campaign that brought you 10 new clients and that you paid a $10 commission to your sales team for each new client. That means the client start off at -$110 before you make any profit you have to cover the expenses. So unless your product profit is more than $110 you’re still losing money.

But then the clients buys again and you made more profit, but you didn’t have to pay for ads or sales. Each sale you make to that client increases his value. By the way, that same client can refer his friends and family to you and you will start making profits off the first sales.

Once you know what your average customer value is you can set goals for your business.

What do you do if the client doesn’t buy a second time?

There are many approaches, but the easiest is just calling him. Ask what he liked about the product and what he didn’t. Offer to compensate him if he feels that the product didn’t meet his expectations. And if you run into dissatisfied clients often try to redirect your ad campaign. You might be attracting the wrong clients.

Running a business is just making small corrections when needed. As long as you keep your finger on the pulse your business will grow.

I hope you found this post helpful, if so like it and share it with your friends. And while you’re at it, check out my ebook ‘level up your business’ a guide to starting your own business the right way.

who are your potential clients?

 

If you’re selling to everyone you’re selling to no one. You can’t have everyone fall in love with your product or service. So your goal is to get a certain type of clients to become your raving fan, but how are they?

In order to provide your client the level of service he will love you have to picture who he is. How old is he? Where does he hang out? What does he hate about the service he’s getting now? What he loves about it? How much is he willing to pay? What are his hobbies? You can’t ever be too precise. The more information you have the better.

What if you can’t come up with a client description?

Use yourself. Would you buy the product you’re selling? I’m assuming you will. Go through the same process for yourself. Only this time you know the answers. That’s what I do with this blog. I write for myself, I touch subjects the I need to work on or that I had issues with in the past. And the result that I’m trying to get are readers that are interested in the same things I am.

People who are tired of working for someone else and want to start their own small business. If you’re just starting out I would like to get to know you. What are you interested in? What would you like to know more about? Leave a comment and I’ll reply it as soon as I can.

I hope you found this post helpful, if so like it and share it with your friends. And while you’re at it, check out my ebook ‘level up your business’ a guide to starting your own business the right way.