Top 10 Ways to Increase Sales in the New Year, Part 1

Top 10 Ways to Increase Sales in the New Year, Part 1

By Colleen Francis

It's 2010! And in honor of the new decade I thought we could start of the year with a top 10 list.

We look at the first 5 on our top 10 list. You might notice that the entire list is focused on the front end of the sales cycle. Specifically targeting, prospecting and calling net-new leads. That's because in order to make sales, you have to have more leads and better quality leads. You might remember that I am particularly fond of the expression “every sales problem can be solved with improved prospecting skills.”

Enjoy the list and be sure to implement all 5 ideas this week. I know that you will have a perfect 10 year if you do!

1. Make just one more call

In my experience studying scores of both mediocre and successful sales people, I have discovered that the most reliable key to enduring success is discipline.
Discipline to provide just a little bit better service than your competitors offer or your clients expect.
Discipline to make one more call, attend one more networking event or block an extra hour in your calendar every day to do business development.
Discipline to document the objections you receive and create responses to deal with them consistently and effectively.
And discipline to practice your sales presentation one more time, every time you head out the door to meet a prospect or close a deal.

Discipline is the one sure way by which poverty may be converted into riches, failure into success - and short-term success into a winning track record that will last throughout your entire career.

2. Make testimonials part of your strategy for cold calls

Turn a testimonial into an opening statement that you can use when making your cold calls. It's a great way to get the conversation started on the right note because it's one (or more) of your customers who is talking about all the great things you can do for that prospect at the other end of phone. This strategy can be really compelling when the testimonial is one that the person you are calling can relate to specifically in their line of work. Let's say I'm calling a prospect in the tourism industry and I share with them a sample of the great feedback I received recently from a client who works for that industry's national association, I'm making it clear that I understand the challenges they have to deal with in their work. There's also a deeper message being processed by the person I'm calling: “If Colleen has worked with them, then she understands what we need and if she understands what we need, then she understands me.”

3. Create a Profit 100

Ask yourself: who are your best buyers? If you sell B2C, whether you're a dentist, accountant, chiropractor, real estate broker or financial advisor, chances are your best buyers live in the best neighborhoods. They have the most money and the greatest sphere of influence. So take a look at your current customer list, identify where your best customers live and target your marketing efforts to others in those neighborhoods.

If you sell B2B, your best buyers are usually the biggest companies that are spending money and are profitable now. Check your database, who spent last year? Chances are, they will be spending again this year.

Once you have your list create a plan to reach out to this best buyers at least every other week, no matter what, to let these companies know who you are?

4. Spend money on those who are spending with you

This is not the time to be taking a shotgun approach to sales, trying to sell all things to all people. Rather, this is when you should be targeting those who know you best—particularly customers that have a higher propensity to buy from you in good times and bad. Spend money on those who are spending with you. Don't make the mistake that so many companies make during an economic downturn, taking a hatchet to their marketing budget. There's a real opportunity right now for smart companies to step up their advertising and marketing efforts—provided that they are willing to invest the time to target who they are going to reach with their message and then measure the results.

In addition, consider how you can improve up-selling and cross-selling in your current market. Look carefully at who buys your products or services. Let's say you're a sales rep for a food-services company and you notice that your product line is selling briskly among women who are Toronto-based restaurant owners in the 45-65 age bracket. Maybe that's who you should be targeting. Find out what their needs are, and market aggressively to them, showing how your product meets that need.

5. Network

There are many mysteries in life, but this much is clear: nothing can help you get by like a little help from your friends. This is just as true in sales as it is in life. Truly effective sales people - the ones who always have time to make one more prospect call, finish one more project and grow their client base by another 10%, all while bringing fresh-baked cookies to the office every day - all have one thing in common. They are all more likely to employ a broad network of connections, friends, family and acquaintances to help them seize opportunities, and respond to challenges. In other words, the most successful and effective sales people are also the ones who are most likely to ask for help.

Many people feel that networking is something that only business people do - that it's only used to grow your business, sell more products or find a new job. This simply isn't true. Think about it on a personal level. Would you rather go to a dentist whose name you found in the phone book, or the one who your neighbor with the perfect smile always recommends? Would you prefer to shop for a used car at the first dealer you come to on the highway or one who's a personal friend of your sister-in-law's?

The fact is, in our personal lives as in our careers, we succeed or fail based on our networks, and on people. As has been said many times: "take care of your people (or, in this case, your network), and your business will take care of itself."

By Colleen Francis

It's time to finish building our “Top 10 List” for 2010. This time we look at items 6 though 10. If you missed the first 5 ways to increase sales in 2010 be sure to visit the first article...

Enjoy the list and be sure to implement all 10 ideas. I know that you will have a perfect 10 year if you do!

6. Get referrals

Referrals are the most profitable source of leads because they close dramatically faster than a cold lead, a lead from a trade show, website, advertisement or virtually any other source. In fact, one Engage private coaching client transformed their business from a 68:1 closing ratio to an 80% closing ratio by moving their sales team from making from “cold calls” to “referred calls”.

The first step is to make sure your customers are happy! The happier your customers are the happier they will be to refer you to their own friends, colleagues and associates. A referral from a customer is the highest form of trust. Trust is built on consistent behavior over time, starting with continuously showing your customers that you're focused on their needs. Once you've established that level of trust, identify "apostles" among your most loyal customers, and empower them to crusade for your product or service.

The second step is to make a direct request. Try something like: I would love to meet the VP of sales for your supplier ACME corp. Can you help me by providing an introduction?

Yes, you have to do the research first to find out who you should be referred to. It's worth the extra step as a direct request such as the one above is almost always granted.

Finally, always reward customers who send business your way. At a minimum, a handwritten thank you note will show them you appreciate the effort they made. At the maximum, a gift will help you secure that relationship - and likely lead to even more referrals in the future.

7. Acknowledge your clients

You'll be surprised how much this matters - and how dramatic the results can be!
For new customers, always say "thank you" they day you receive your first job order with a hand written thank you card. You should also say thanks after that order is filled. This second thank you can be a letter, a small gift or a phone call from you and/or the owner of the business or branch manager. After that, if it doesn't make sense to offer thanks for every order, make sure you do it at twice per year.

I encourage you to use handwritten thank you notes - preferably ones that aren't branded with your logo to look like an advertisement. In addition, many of our clients have gone one step further and developed a special “welcome kit” for new clients, complete with a thank you note, small but meaningful present and useful information or perks for doing business with them. For instance, my karate school includes a 20% discount coupon for Dairy Queen in their welcome package, as a reward for having a good workout! My insurance company sends a small emergency kit along with their automobile policy renewals and one top staffing companies I work with design an HR guide to send to all their HR clients.

8. When negotiating, don't add value if your customer won't value it

When dealing with the pricing objection sales people often make the mistake of piling on extras that the client may not want or need. The result is that it will cost you more to give the customer something they couldn't care less about in the first place - a perfect lose-lose proposition.
When I ask many of the sales people I coach why they do this, they usually tell me it's because they “think the customer will like this.” Thinking the customer will like something is the same as assuming they will like it. You only need to think back to grade school to remember what happens when we assume.

Value, like beauty, is in the eye of the buyer. Ask questions to find out what, besides price, would keep the customer from giving their business to someone else. Then set to work to provide them with as many of those concessions as you can. If the client doesn't want any extras, then you can't use the value vs. price argument to win this business. Quit trying and go on to something else.

In today's highly competitive marketplace, pricing pressure is a constant menace. If you want to be successful, you need to make sure the deals you are closing are profitable ones. Be extra careful of offering so much that the client actually ends up costing you money. If your client base is too price sensitive, go out and find new clients that want the value you have to offer - not just the lowest price. It's not easy, but it is simple to do if you have conviction.

9. Take control of the follow-up process and STOP chasing!

Chasing the client down to get them to sign an agreement is not selling. Instead this year commit to controlling the customer call back and follow up process. For example: When a client tells you the timing is not right, ask them to be more specific. "Thanks for letting me know that next month is better for you. What date would you want to place the order?" Or: "I would be happy to call you back next month. Would Tuesday, July 11th at 10:00 a.m. work for you?"

Don't take "don't worry - I'll call you!" as an answer. You need to stay in control of the follow-up. For example, if the client offers to call you back when they are ready try: "Thanks for wanting to stay on top of this, Bob. How about, if I don't hear from you by the 15th, I'll call you on the 16th at 10:00 a.m.?"

Question them into a corner - and close them when they get there. Tell your clients: "I would be happy to call you back next month. Do you mind if I ask, what will have to be different in May to make you want to buy from me then?" Or take the opposite approach, and ask: "Will anything change over the next few weeks that will cause you not to buy?" Once the prospect assures you that they do want to do business with you, you can respond with: "Great! Let's get your order into production now so your project won't be delayed, and we'll deliver it after July 1st."

10. Build client retention system

Sales people and business owners may already be familiar with the statistic that suggest that it's anywhere from five to 20 times less expensive to sell to existing clients than it is to land new ones. Less common, however, are those who heed that advice and adjust their sales strategy so that client-retention activities are as habitual as prospecting. And yet that's precisely the level of commitment that's required to make your client-retention efforts successful over the long term. This year make a commitment to increase the revenue you receive from your existing customer base by ensuring that they are purchasing your full range of products or services for their complete line of business units.

Consistent client-retention efforts sends a powerful message to your customers that you're serious about maintaining a deep, long-term relationship with them and are willing to prove it on a regular basis with hard work and even a little creativity. Your goal should be to reach out to your existing client base every 30 days with a meaningful and high value touch point. You can use email, the phone, live events or direct mail. Or use a different media each month. Whatever is right for your business, the magic number you need to remember for staying on the top of your client's mind is that 30 day marker.

Looking for a great source of ideas? Make a point of looking at what other successful sales people and organizations are doing to win repeat business from their clients. It doesn't matter if they are in a completely different line of work from yours. If the ideas they are executing are solid and are producing results, the odds are good that you can find ways to import them into your own business.

There's no denying that it can be time-consuming to be constantly scouting for client-retention activities and mining them for great ideas. That's why it's important to find learning opportunities where you can quickly gain ideas from others who have implemented their own retention strategies and can show you first-hand what works well in organizations of all sizes. This is a topic that I will be covering in great detail at my Sales Mastery Workshop (reserve your spot today if you haven't done so already…seats are very limited!). Specifically, I'll be helping participants develop their own client-retention template, complete with “how-tos” for building deep, trusting relationships with prospects and clients quickly and more easily than before.

And there's our top 10! To tie them all together, you know I've spoken before about the importance of having a personal philosophy for success — that no matter what you are selling, you are your own brand. This year, be sure to implement these top 10 sales approaches to enhance your personal approach to sales. Your efforts will get noticed. By adopting proven strategies — even the unconventional ones — and investing in opportunities to learn from the pros, you'll be shaping an approach to sales and customer retention that's as unique as your personal signature. And there is always increased profit in that!

Colleen Francis, Sales Expert, is Founder and President of Engage Selling Solutions (www.EngageSelling.com). Armed with skills developed from years of experience, Colleen helps clients realize immediate results, achieve lasting success and permanently raise their bottom line.

Start improving your results today with Engage's online Newsletter Sales Flash and a FREE 7 day intensive sales eCourse: www.EngagingIdeasOnline.com.

http://www.engageselling.com/articles/article-top-ways-to-increase-sales-in-the-new-year-2.html