Selling is one of the most uncomfortable activities in an organizational structure. It’s something that can’t be taught in a classroom setup. It’s a skill one acquires on the job and hence, not every sales rep is able to meet the targets from the first day itself. They must hone their skills every day, each day, face a lot of rejections before they can make their first sale. For a new sales rep, the pressure to close the deal, the fear to make the wrong pitch, and the desire to be liked can be major hinders. Regardless of all turbulences in the life of a sales rep, the targets must be met. But how?
In this article, I’m going to jot down all the learnings from my career with an aim to help sales reps generate buy-in with prospects and consistently close sales.
Presenting benefits over features can turn the tides in your favor when communicating sales messages to prospects, a fundamental sales concept. But in reality, most sales reps focus on communicating features, which are just facts about the service or the product. So, yes, the online ordering system allows you to accept orders online, but how would it help the business grow? Focusing on the benefits of an online ordering system, such as zero error in order processing, high average cart value, etc., changes the way the prospects hear what you say, following the core sales concept, and the word picture in their mind is of growth and profitability if they choose to invest in the system. It's a small adjustment in the sales pitch but can make a big difference to the organization's bottom line. People buy benefits, and therein lies the difference.
Have you ever faced a situation with a prospect who seemed pretty interested in buying your product, had the money, but turned out not to be the decision-maker? It can be really frustrating for the sales rep who knows has done a great job but still isn’t able to close the deal. “Adding stakeholders late is like having to explain a movie to someone joining halfway through… Not great for anyone”. GEORGE BRONTÉN, Founder & CEO of Membrain A friend of mine who owns a real estate firm adopted this Sales Strategy a few years ago to only host decision-makers when presenting properties or hosting auctions. He always mentioned that in a common scenario even though the husband pays for the property, the wife is always the one calling shots. He instructed his executive consultants to find the person who has the authority to pull the trigger before they organize the property tour. The strategy has worked tremendously well for his firm, substantially reducing the number of lost sales. The key to closing more deals and faster is to avoid giving presentations to non-decision makers unless absolutely necessary.
so your prospect is really excited to do business with you. They may have fallen in love with your product. Maybe there’s no one else offering a better deal… but somehow they seem to be hanging back. This is where you must create a sense of urgency and in order to do so, there are certain considerations that you must take into accounts
1. Demonstrate to your prospect that what you are offering is the best solution available in the market at the moment and that it may not be available at the current price after a few days or the next week. Tug into their sense of security.
2. If you sense that your prospect is delaying the decision owning to some underlying fear or apprehensions, spend some time to show them the risk is worth it. Back up your claims with case studies, testimonials, and references, if need be.
3. Make them emotional about the product that they intend to buy and how not signing up for it can add complexities to their already complex life. But how do you do that? There’s only one secret mantra of selling – perceived difference and perceived value.
4. Connect the dots between something that’s valuable to your prospect and the product that you are selling. For instance, selling a green detox subscription plan to someone who is already passionate about his health and well-being should not be as challenging, if you can emphasize how adding a detoxification routine to their daily regime will help their body regenerate damaged cells, further adding 3-5 years to their life expectancy.
5. FOMO sales strategy is real. If you can create a sense of scarcity or the fear of missing out in which your prospects have to act fast or they might lose the buying window, you’ll encourage more sales and conversions. The key is to target the right people with the right offer with a deadline.
Improving sales productivity starts with understanding that Sales Managers need to create an environment of motivation and encouragement for their sales reps to increase sales productivity. It’s a no-brainer that motivated sales teams to spend 50% more time selling, resulting in a healthier bottom line. However, achieving high morale and higher targets don’t come from discussing Super Bowl all day. Indeed, there are a couple of practical steps we can take to encourage performance: Give Better Incentives: Keeping the sales team motivated to perform better should be a top priority. And this is why sales incentive programs can be such an asset. Offering your team visible means of rewarding in a timely manner can be a constant motivator for them to work hard and hit targets.
So how do you decide what and when to give? Read my previous post on How Bad Incentive Plan Can Hurt Your Bottom Line. In addition to this, you can use the Kennect SPM tool that provides a detailed analysis of incentives and rewards based on the key performance of employees. Communicate Performances at all levels: Each member of your team is clocking in 50 hours a week, but while some manage to close 10 deals a day, others struggle to even find promising leads. Help them understand their strengths and weakness better with the Kennect tool that provides a detailed graph to keep the track of their own performance. With so much time being spent on planning and administration, there’s a glaring need in the industry for SPM (Sales Performance Management) tools that can help automate important daily tasks and put things on “auto-pilot.”
Of those tools, Kennect has been rated amongst the top 10 most valuable SPM tools, significantly increasing the number of high performers in an organization set up.