Does your business need better leads, more sales and higher profit margins? These eight sales strategies will do the trick!
Sales strategies are always changing. If you want to grow your leads, conversions, and revenue, you need to use these top strategies. Not just any method will cut it – it's all about knowing what works, and what will keep you one step ahead of your competitors.
That's why we've created this guide to highly effective sales strategies you can use immediately. Keep reading to learn how to get the leads you've been dreaming of!
1. Quit Hiring "Sales Gurus"
If you've had your eye on the self-proclaimed "sales stars" who say they can turn your business around, it's time to let it go.
[quotesright]These sales hot-shots might get numbers that blow everyone else out of the water, sure. [/quotesright] That's how they operate: their success is enhanced by other people's failures. They work alone and thrive on comparison and competition.
[quotes]This fosters exactly the wrong kind of environment for any business to succeed. [/quotes] If your business hinges on a small number of these "superstars" who outperform everyone else, guess what happens when they leave?
Having these players on the team can also hurt the team itself. You don't need a couple of hot-shots: you need a cohesive team that works well together. It's fine if you don't have any standout stars – what matters is that the team works to get the job done.
[quotes]This doesn't mean you should discourage competition.[/quotes] Competition can be healthy, valuable, and motivating in the right doses. However, balance a competitive atmosphere with a system that rewards your employees for working well together.
Hold onto your best team players, not your best solo stars. Cultivate their sales skills, which include great listening and empathy. [quotesright]The things that make them great team players will also help them step into the shoes of your customers. [/quotesright] Even if this is the only tip on this list that you try, you'll see your sales grow.
2. Stop Slashing Prices
When you've got a hard-to-sell product or a tanking economy on your hands, it's tempting to keep lowering prices until your stock finally sells.
However, this is a very outdated sales strategy and it will hurt your business. You're losing out on important revenue when you give your product away for next to nothing. And, it's not necessary to do this to make sales.
Instead, make your product competitive by showing customers that its value is worth the price. Be sure you're also offering something unique. [quotesright]Top-quality combined with uniqueness equals something a customer can't live without, no matter where the economy's at. [/quotesright]
Find your niche and stick to it. Focus on gaining the advantage over your competitors by setting your product apart. People care more about value than price at the end of the day.
3. Give Up Sales Incentives
You want your team to sell, right? However, giving out sales incentives is one of the worst sales strategies to accomplish this.
When we say "incentives," we're not talking about commissions. Instead, I mean the extra gifts offered as bonuses to employees who sell a lot, such as iPads, trips, and other prizes.
[quotesright]Token prizes ultimately don't do much to motivate your staff. [/quotesright] You're better off saving that money, and focusing on offering competitive salaries and great commissions. Your staff will work harder for a slightly higher commission than they will for a chance at a flat-screen T.V.
4. Offer Great Customer Support
To increase leads, you have to focus on your sales team, but you also have to keep your customer in mind the whole time. One of my favorite sales strategies involves giving better customer support.
[quotes]Your top revenue often doesn't come from the first-time sales.[/quotes] Instead, it comes from the repeat customers, the add-ons, and the renewals and upsells. Focus on offering great customer service after the initial sale, and people will be likely to come back for more.
Stop focusing on selling to new customers and start focusing on retaining the ones you already have. [quotesright]This makes a huge difference in your bottom line. [/quotesright] After all, there's more revenue to be had from consistent repeat customers than from one-time purchases.
Invest in your customer support team, and watch your business thrive.
5. Find the Decision-Makers
One of the most important sales strategies for all businesses – especially B2B businesses – is to find the decision-makers to sell to.
[quotesright]You need to sell to the people who have purchasing power. [/quotesright] This means targeting the right department at a company and convincing them to order your product. It doesn't matter who else is on board if you don't have that decision-maker locked down.
Early in the sales process, while you're figuring out your target companies or customers, start by defining the decision-maker at each target. This will make things easier throughout the process, because you'll always be targeting your efforts where they're needed.
If you're not sure who the decision-makers are, target the leaders of the company. If they have the budget in their control, they're probably making the decisions.
6. Research the Competition
If you don't know what your competitors are up to, you're missing one of the most important sales strategies in the game.
[quotesright]The purpose of knowing your competition isn't to copy what they're doing. [/quotesright] Instead, it's to figure out how to beat them at their game. How can you do better? Is there a customer pain point they're not meeting? You'll never answer these questions if you don't do the research.
7. Make It Urgent
You need to motivate your customers to not just buy, but to buy now.
Make it clear to them that not buying your product now will cost them. [quotesright]It might not cost them money, but quality of life. [/quotesright] No matter what tack you take, you must make them feel like the purchase is urgent.
8. Be Educational
Focus on teaching your customers about your product and how it can help them, rather than persuading them of its value. Remember that beloved adage of English teachers everywhere: [quotesright]"Show, don't tell." [/quotesright]
Which Sales Strategies Are Your Favorite?
If you're not using all these sales strategies yet, it's time to implement them. I know the steps on this list will get you the leads and revenue you really want! If you have a sales team that could use a powerful performance boost, consider our professional sales training programs.
We’ve used them with thousands of firms who have seen their sales programs outstrip anything they’ve ever tried. To learn more, just get in touch, we’ll show you why it’s the best money you can invest in your company: USA: 877.433.6225 feedback@focalpointcoaching.com