Businesses are vulnerable to dramatic swings in profit, but simple changes can reduce this problem. From the moment you generate a lead, you need to be rigorous in your sales processes. A business training sales seminar from Business Minds Research and Development in Salt Lake City is a great way to learn how to become more successful in sales. But until you can attend one of those, here are some tips on how to drive more effective sales.
Be systematic about lead generation
Make sure your company systematically generates enough leads to keep business in the pipeline. Many entrepreneurs get caught up in daily tasks and forget to think about the future. Set specific targets for the number of prospects you want in the funnel and plan the number of appointments you intend to secure with prospective clients. You should use the rest of your time to handle ongoing sales projects.
Establish a sales cycle
The type of business you’re in determines your sales cycle, which is the amount of time that elapses between your initial meeting with a potential client and closing a deal. This varies from one company to the next, but you need to understand how much time it takes on average. Make a list of your 20 most recently closed sales, jot down how long each took and compute the average.
Know your numbers
Every company needs a minimum number of prospects at all times to maintain sales. Look at the number of closed transactions you want every month along with your average sales cycle. You need to know what percent of prospects contacted will end up buying. These figures help you set targets for your company.
Actively look for referrals
It’s good for any business to get referrals from satisfied clients. A good way to avoid asking for a direct referral is by encouraging clients to talk about customers and suppliers. When you’re talking to a potential client on the phone, this is a good time to reach out for referrals.
You should refrain from making a sales pitch on the phone. Instead, try to secure a meeting and be prompt about it. Prospects don’t like it if you take too much time on the telephone, especially with the initial call. The second meeting after intial contact is equally as important. Make sure the client has you scheduled in their calendar.
Prepare for negative responses
Typical negative responses to cold calls include:
- I’m dealing with someone else
- I’m too busy
- This isn’t a good time
- Send me material first and then we’ll talk