When you run a business, effective sales strategies are critical to make sure you meet your numbers. There are sales strategies you can use in your business to close more sales quickly for you. You might like to try one of the seven sales strategies we suggest below to increase how many sales you close.
1. Be the expert
When you next hold a sales conversation with a potential client, make sure you position yourself as the expert. You want to demonstrate you know both their need and how your business solves their problem. Go into the sales meeting or call prepared with the list of questions you’ll ask your potential client.
2. Know who the decision maker is
If you’re working with a business where multiple people are in the sales conversation, you want to be clear on who the decision maker is. While there may be many people who have a say in the consideration process, there is generally one person who will may the call on whether they go ahead with your product or service.
3. Use an assumptive close
The assumptive close, where you make a series of statements where the other person responds yes to, is a powerful way to close sales. This can be subtle and ask you recap on decisions made, you confirm progress towards the end goal. An example of this in discussion with a potential client might be “So to confirm we decided I will email you my proposal and you’ll come back with your thoughts within the next 3 days.”
4. Only offer when you feel they want it
In sales there is a point, generally after you find out about their business and explain your solution, where you get a feel whether they want your product or service or not. If you can wait to offer your product or service until you’re really sure they want it, you might be able to increase your sales success rate.
5. Offer a discount for quick decisions
Sometimes people can be keen on your product or service and then stall when the time to accept and pay comes up. To make this final stage of closing the sales nice and clean, you can offer people a significant discount for their quick decision. Of course make sure you have enough margins in your pricing to do this. You might say “If you decide in the next 24 – 48 hours, you’ll receive the discounted rate of xyz.”
6. Offer added value
If you feel to, you can offer an additional product or service for your high value customers to close the sale. This might be an extra service or additional product, essentially something your client would really love as part of the sale.
7. Follow up
Last but not least, make sure you follow up at the right time with your potential client. They are busy too, and while they consider your product or service, you want to make sure your offer is top of mind for them. Don’t be disillusioned if you hear nothing at first, as if you’re working with a large organisation, it can take time before they are ready to commit.
If you stay on top of your sales pipeline and find which closing strategies are effective for you, you might find you have a lot more sales success in your business. Be sure to try out which approach brings you the greatest results.
5 reasons why you should have a business mentor
We think it’s a great idea for business owners to have a mentor. Here are 5 reasons why you might consider when choosing a business mentor. Read more
6 tips to negotiate better with your suppliers
To ensure you set up your business to profit, you want to achieve the best price for what you buy. This is where your negotiation skills come in. Here are 6 tips that may help you negotiate better. Read more
6 ways to get your invoices paid faster
When your customers pay their invoices on time, you create stronger cash flow in your business. Here are 6 specific actions you can take to ensure your invoices get paid on time. Read more