Good morning all and Happy fall too! Ever feel like business is on the ultimate halt and no matter what you do you can't stay above the sales goal for more than a couple of weeks? Do you start wondering if it’s the sales team, your management team's enriched pitch, the marketing firm's contact list or are all the people that you contact just broke old joes that need the products and services that you provide and can't afford it? Well, today's blog is about how to approach today's buyers and successfully close the deal.
The primary thought of sales executives is how to meet the goals of the firm financially and still create an opportunity for growth and success in the market no matter how competitive your industry may be. So, if you haven’t already started reviewing and confirming the integrity of your research department. Oftentimes, the research is based on product/service demand, client necessity, and interest in pricing. But today, people are more interested in the certainty of the use and sustainability of the product/service that they are buying. If you're finding that your sales team is making at least a 40% connection rate with prospective contacts this is the place that you want to start. If this is true, your team should be closing 40% -60% of your prospect sales. If not, consider adding a bonus, a perk, or a discount to get you closer to the marginal goal that should be expected in your industry.
Next, look into the demographics of your prospect group. Over 50% of the market is still stay-at-home parents with decision-making power in the home. From the author's research, over 30% of those homes are two-person residencies which create a whirlwind when it comes time to close the sale; thus the title of today's blog. Oftentimes you get the standard response, “I Have to talk to my partner about it.” So, of course, the team gets excited and puts it on the weekly goal schedule. Then when they call back, the partner is generally “not available.” You see the forum on a detailed layout and some example scripts that can get your team to closure in less than three calls.
Also, after looking into the consumer market most purchases that were once completed by subscription services like amazon prime are affecting manufacturing and service providers that provide delivery and installation discounts to their consumers. So, it slows down the buying process and reduces the ability to track your target projections by quarter which makes paying bills and filing taxes a breeze. In turn, meaning you have the potential to be overpaying commission-based sales teams and could be cheating yourself on the quality or other organizational necessities because you're putting too much into capturing newer clientele. It might behoove you to focus on demographics that will sustain over time and has less of an opportunity to give you a negative review and complain because they don't want to make the purchase, to begin with.
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