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:
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.