Even if you're feeling great about your sales numbers now, you may be keen to grow your numbers even further.
Here are valuable insights and tips on sales closing techniques, prospecting, and processes that can help you maximize fiscal performance.
1. Know Your Intent
Sales performance is much like marketing. Both require effective strategies to generate successful outcomes.
One of the best ways to guarantee a high sales performance is to know your intent for making sales in the first place.
Simply wanting to improve your sales performance isn't specific enough when it comes to building a sales mission. In fact, it's easy to hinder your sales process by maintaining such a broad intent.
Crafting a detailed sales plan is your answer to establishing a reasonable intent and shaping your strategy accordingly.
Two examples of sales intents include selling more of a certain product line to a specific age group, such as more dry-wick yoga pants to women between ages 25 and 40. Or, improve overall sales performance by paying closer attention to customer data and finding fast moving items to immediately promote aggressively.
2. Get in the Habit of Specific Goal-Setting
Your sales plan is more likely to pay off if it is dense with goals. And we're not talking a handful of vague, pie-in-the-sky goals.
Aim to set SMART goals, ones that are:
- Realistic, and
To improve sales performance, set SMART goals that have to do with key stages of the sales process, such as sales prospecting and sales closing techniques.
Your goals may involve training a select number of employees in advanced components of the sales process. One goal may simply be to craft a closing technique that can deliver success rates higher than prior techniques.
Further, specific and realistic goals are more likely to pay off within the scope of your company’s reach.
3. Reassess Your Market
It can be difficult to acquire more sales if you aren't certain whom to reach. Remember, sales performance is a close cousin to marketing.
A market reassessment will require a bit of research on your part. It necessitates a reassessment of the products or services you are offering to your audience. Look at customer comments and reviews online for hints to where you’re on target and where you can improve. Look at your competition, how do you measure up in terms of product marketing, efficacy, price, and warranties? In many cases, new or improved products emerge from a better understanding of a niche market.
Tap into any customer data you currently have. If you don't have customer data, you can always gather information from existing clients by sending out surveys and researching similar products online.
Analyze what has led to successful sales performance in the past.
If you are introducing a new product or line, now is a fantastic time to reanalyze your market. Aim to make your market as specific as possible, much like your sales process goals.
4. Audit Your Online Image
We are entering an increasingly digital age. Your online image can directly impact sales performance via website impressions and online reviews.
Negative online reviews can cut short any sales process and dramatically reduce closing rates.
If your company has a website or other digital platforms, spend some time cultivating a positive online image. This may not require weeding out all negative reviews and feedback, but you should have a process in place to respond to negative reviews and demonstrate that you have taken appropriate action and care about your customers.
What's more, if you depend on people finding you on the web, you’ll need to use additional digital marketing strategies designed to elevate your online image, such as Search Engine Optimization (SEO), content marketing, and social media campaigns.
5. Market to Consumer Needs
If a consumer does not have a need for a certain product, she's not likely to purchase it. Or, if she does not perceive that she needs a product, she'll keep it off her radar.
The sales process itself is likely to be more successful if it keeps what a potential customer needs in mind. After all, marketing is the introduction to the sales process itself.
Craft sales processes and closing techniques around consumer needs. If you aren't sure what your consumer needs are, now is the time to gather data through sales prospecting.
6. Analyze Sales Metrics
Data makes the world of sales go around.
Establish a system for effectively analyzing sales metrics. What’s more, make sure that you are gathering metrics for individual sales!
The right metrics should be comprehensive and useful. They should incorporate conversion rates, consumer data, closing rates, marketing results, and products sold.
If you aren’t sure how to make the most of sales metrics, it may be worth hiring a sales consultant or analyst.
7. Encourage Customer Referrals
A great way to foster customer referrals is to offer some sort of incentive. You may be able to offer the person doing the referring a discount, or vice versa.
Or, offer discounts or promotional goods to both your current client and the referral.
Referrals don't require cold calling or email communication, which can have variable results. They are an expansion of your current customer network, and therefore more reliable and likely to close.
8. Listen to Your Customers
Customers love being heard.
Employees who initiate sales conversations with potential customers should be well-versed in how to have an effective and positive discussion with these individuals. A true sales discussion should prioritize listening to the client's needs, questions, and concerns.
It’s likely that you already practice this skill of listening to others' perspectives, simply as a business owner. You listen to your employees' needs and, ideally, spend time analyzing customer data and feedback.
Integrate the same standard of communication in the sales process itself.
Customers are more likely to make a purchase decision if they feel understood. In the long run, listening can also make for a more well-rounded discussion. This can help bolster your values of transparency and honesty in the eyes of potential clients.
9. Hone Sales Pitches
In addition to active listening, ensure that you or your salespeople are delivering the right sales pitches.
There are endless ways to approach a sales pitch, and, naturally, some are better than others.
If possible, avoid sales pitches that feel like sales pitches. Obvious bids for the prospect’s attention are more likely to be sidestepped.
The best sales pitches are consultative, concise, and informative. They give consumers a clear idea of the value of the product, how having the product will improve their situation, why they should purchase from you, and of course, give the product price.
Today’s sales process is consultative, seeking to understand the clients’ needs and what having your product or solution will mean to improving their situation. Once you understand your client’s “Why” your sales process can best leverage the wealth of supporting points and make it obvious you have the perfect solution.
10. Improve Your Leadership Skills
If you manage a team of salespeople, you can improve company sales performance simply by honing your own leadership skills.
This means setting an example for sales pitch delivery, closing techniques, and customer engagement. If you aren't able to match your instructions, your employees certainly won't follow suit.
Demonstrate sales leadership and boost sales performance by holding in-company workshops, trainings, and discussions about sales opportunities and processes.
If you need to brush up on your sales skills or need help with improving your sales management, it may be worth consulting a professional. We'll discuss this in tip 12.
11. Use the Right Technology
Technology is here to assist you when it comes to improving company sales.
Make sure that all of your company’s technology is regularly updated and designed to streamline the sales process.
Implementing iPads, tablets or other mobile devices can go a long way in giving your sales team the tools they need to fully engage with customers.
A solid CRM system enables you to locate sales opportunities and track the sales process itself for individual deals.
12. Consult a Professional
All in all, you can become more proficient at identifying sales opportunities and closing more leads by consulting an expert.
Seek out experts in business growth who have proven tools, programs, and seminars to help you boost sales performance and dramatically accelerate your growth and profitability. Company-wide coaching and training programs ensure that all of your sales personnel are on the same page, all teams are engaged and supporting your business growth, and are maximally productive.