CRM is the answer to your questions. Why? Because it allows you to organize your information, keep track of prospective clients, and is a good indicator as to what customers will buy and when. The more information you can put into your CRM system, the better.
There are two ways of increasing sales. First, increase your closing ratio. And second, increase the average size of each sale you close. By combining these two methods, sales can dramatically increase without additional effort. Here are some ideas:
Focus only on selling. Commit to this 100%. By doing so, you’ll find much more time than you ever needed for this effort. You can use this extra time to enjoy personal pastimes.
Sell to decision-makers (not buyers). Why? Because they have the final word and also control the budget. If you’re unable to reach this level, then selling at a higher level than a buyer works. Get yourself out of selling in the trenches and sell to those “in charge.” By doing so, you’ll close more sales and increase the average sale size.
Focus on the big sales. For example, you can close 10 sales at $50,00 each for $500,000. Or you can close 5 sales at $100,000 each. The second option will take much less time, work, and effort to achieve. Devote less energy and focus on the big sale to increase your average sale size.
Don’t be afraid to ask for introductions. After all, referrals are what opens doors versus cold calls. So why not set up a plan? Set measurable goals for yourself and be accountable by asking for referrals on a regular basis. It doesn’t have to be stringent goals. You might want to start with one introduction a week and see how it goes. The main thing is to stick to the program.
Focus on selling specific results. Too often, salespeople try to sell new features and benefits of their product. Customers want results. THIS will increase the value of your product or service and will allow you to close more sales in a shorter period … or increase your closing ratio.
Discuss the budget upfront. Not everyone shares this point of view, but if you don’t discuss the budget, it could turn your client off. All clients have budgets and by discussing this at the beginning of your presentation, you’ll be able to come up with a solution that will best fit your client’s needs.
Offer your clients several options: good, better, and best. This creates context for the decision and may prevent your prospect from shopping around. Don’t worry about presenting a high-end option. This will not only create value but some customer will find the additional funds to choose the best option. When they do, it can increase your average sale size.