7 Secrets to Increasing and Closing Your Deals
As a small business sales manager, you know that each rep who closes a
sale is crucial to your company’s overall growth and success. Many small
business owners often ask their sales leaders if there is something
specific they can do to raise their close rate. Here are 7 secrets that
experienced sellers have shared with us to increase their win rates and
close more deals:
Secret #1: Listen. Ask Questions. Use Your Ears.
Many experienced sellers have shared how it’s extremely important when
qualifying, that the rep is sure to “peel the onion” and ask as many
relevant questions as is appropriate. In many sales situations, the
prospect will withhold information from the seller that they don’t think
is pertinent to the conversation. But the more the reps knows about
their prospect and the problems facing that company, the better chance
they have of delivering value.
And how these types of questions are asked can truly matter. When a
seller is talking to the prospect, they should try the approach of
asking questions as if the prospect has already bought the product or
service. A great rep won’t ask them if they’d like to buy, but how they
will be paying. And depending on your offerings, a good rep will often
ask whether the prospect will use the product or service at home or in
the office.
It’s important for the seller to use great listening skills to
effectively connect what they are selling to the problems it will solve
for the customer.
Secret #2: Demonstrate Your Value With Other Customers
One secret on how to improve sales happens when you share results with
your potential customers. It enables them to see how they can grow and
scale their operation or address their own challenges. This approach
will make it easier for them to buy what you’re selling because they’re
seeing results from your other customer testimonials.
And extending this idea further, a great way to close the sale is to
assume your prospect has already made the decision to purchase your
product or service. Some of the evidence and psychology behind this
include:
- Depending on your industry, it is likely your prospect has already
done their research on your company or product, and, to a certain
extent, already decided they are going to buy. - The confidence you show by assuming the sale will make it easier to
build a relationship with your client. By the time you’re done, they
don’t even realize they’ve been sold.
Secret #3: Differentiate Yourself
Finding a product or service to solve a problem or fill a need is easier
than ever in today’s online world. Many buyers will simply search, ask a
few friends or review various social media platforms that they trust for
comments about the company or product. Because of this, it’s important
that your message stands out from the rest so that your prospect is
drawn to you to solve their needs. Getting your potential customers to
choose you begins with a unique first impression.
- The message must speak to them: what is the pain they’re feeling
(even if they don’t know that’s their pain yet)? - The delivery of your message must be compelling: make sure the
messages your sellers are sending are actionable.
Secret #4: Use Visuals To Convey Your Message
Using visuals can help your message become actionable. Sales and
marketing materials such as videos, infographics, images or other pictures will show how your prospect’s problem will be solved with what you’re selling. By using imagery you can create contrast, which can create the feeling of urgency, which will help you close the sale. Remember that you can’t just use any old image, especially if it’s low quality. However, you can save money and use high-quality free photos in your projects by using websites like freepik.
Secret #5: Overcoming Objections in Sales
Highly experienced sales professional tell us that objections present an
opportunity goldmine. An objection means a buyer is engaged. A potential
customer is actually considering your business proposal or
product/service offering. Overcoming those customers objections is the
key to making the sale. Here are some tips and tricks that experienced
sellers use to close deals:
Objection: “You’re too expensive.”
Response: Continue the conversation! Price negotiation is usually a part
of getting to the closed deal. Maybe your product or service really is
higher in price than that of your competitor. But should that stop you?
No. So don’t let that be the end of the conversation. Find ways to
demonstrate your value so it can justify your pricing.
Objection: “Give me more.”
Response: Present the facts. Many customers want the perfect combination
of exceptional quality, wonderful service, and low prices all handed to
them on a silver platter. We all know it is extremely difficult to
provide the lowest possible price while simultaneously achieving the
greatest quality and the greatest customer service. Have a clearly
articulated readily available that clearly explains what makes you
better than your competitors. Highlight to your customers what they will
receive and why it is, in fact, so great. In other words, sell the value
that your product will bring to them.
Objection: “Your product doesn’t meet our needs.”
Solution: See things from the prospect’s perspective. Empathy is a
powerful tool when overcoming a sales objection. A great salesperson may
be able to convince a prospect into buying once or even twice. But if
your product ultimately isn’t meeting the customer’s needs, they will go
elsewhere. Pause to evaluate the mindset of your prospect and when you
truly see through their eyes, you can customize your approach. You’ll
begin making points that speak to both their emotions and the logical
part of their brains.
Objection: “I don’t want to change.”
Solution: Reshape the customer’s fearful mindset. Build trust by showing
the buyer that you have a proven track record of tangible success. And
give them numbers to latch on to. Point out your past successes and
demonstrate why you are reliable and dependable. This approach will go a
long way. Facts speak volumes, and they’re essential to overcoming
customer objections.
Overcoming objections like this will take practice, but a seller’s
skills will improve over time. Inexperienced reps should not panic or
overreact as it certainly isn’t necessary to lower the price to get the
sale. The simple act of customizing the approach will put a seller on
the path toward negating future objections before they even occur.
Secret #6: Understand What Motivates Your Customers
Invest time to learn what motivates your customers and prospects. Take
the time to know their needs, challenges, concerns, and fears. Serve
them first, and your interests will be served in turn. As you learn
about your customers, you are also investing time to better educate your
customers to help move them farther down the sales process at the same
time. People buy because they have some pain, or need, that has to be
resolved. Understand your customer’s need, solve that need, and you’ll
have a much better chance of making a sale.
Secret #7: Push for a Decision
“Maybe” is a terrible place to be. It’s not good for you, and it’s not
good for the customer. You’re left unsure if the customer is (or will
ever be) ready to buy, and the customer is in limbo waiting for a
solution. When you know that prospects have enough information to make a
decision, drive the process forward to secure that decision.
The next time you’re in a sales meeting with a prospect, don’t ask them
to buy from you – just ask for a decision. There’s a difference, and
regardless of what that decision may be, find a way to serve them.
By addressing these 7 key secrets, you will create a situation to ensure
that customers buy from you again and again and that they tell others
about you. When delivering great service to customers, don’t think of it
as a short-term transaction. Instead, make a long-term investment in
your customers, and build up the opportunity for repeat business.
Customers new and old should get the same experience, no matter how big
or small your business is. Consistency can be one of the most crucial
elements of service for your customers. If you commit to serving your
customers and prospects (beyond just selling to them) not only will you
realize how to boost sales, you will obtain repeat business and happier
customers.
