Would you like to be able to increase your sales without any real additional effort?
Now, the two easiest ways to increase sales, without any additional effort, is to increase your closing ratio and your average sale size.
Your closing ratio is the number of sales that you actually close given the number of opportunities you have.
Increasing your average sale size means increasing it from, let’s say, X to 2X. By combining those two ways of increasing sales, you can really be lazy and strategic.
In this video, I’m going to teach you how to increase sales without breaking a sweat. Check it out:
I want to hear from you. Which of those three ideas did you find most useful? Be sure to share below in the comments section and I will get to every single comment that I can get to. And for more videos on increasing your sales, click right here or visit marcwayshak.com where you’ll find a bunch of other great resources that will help you take your sales to the next level.
Great video Marc! I think #2 – Get to the Budget issue fast was the key takeaway. How many times do sales people spend hours of time – theirs and others – getting a prospect lined up, raring to go and then it all falls apart when they get to the budget or cost. I teach my sales reps to qualify for themselves that the prospect has the budget needed. And do it fast. If they don’t, cut the prospect loose. They can always approach the prospect ater when they may have the budget.
How can a sales rep do this? Easy, by stating the issue as real and asking a simple question. Like…”Mr. Smith I don’t want to waste your time here if we don’t fit inside your budget, so could I ask what kind of budget (in a range) you have set aside for this product/service?” You have to overcome the fear and just ask. It also gets rid of the dreaded “I can’t afford it” objection later in the negotiation when the sales rep has more emotional commitment involved.
There is also a positive affect on the prospect. First they will appreciate that their time isn’t being wasted. They will likely find it refreshing that the rep isn’t trying to “sell” them to earn a commission. And they are more lilely to come back when they do have the budget as they will believe the rep has their best interest at heart.
Finally as you point out if you can get a budget range you can offer several options (3 as you suggest) that are all within their reach!
Perfectly said Bob. I agree with you completely.
Comment 3 is one that I have always preached. 3 options is always going to create more conversation and I believe many sales people today do not realize that more conversation equals more sales.
We said. It can make a HUGE difference in close ratio and your average sale size.
Hi Marc, from a sales manager standpoint I like your suggestion on giving options. Any of which we can live with. I’m not a fan of the word lazy though. Strategic, yes but I bet you can come up with a better word.
Call it what you want Edward. I like lazy.
Marc – Thanks for reminding me to focus on client results as opposed to the features and benefits of my product. Sometimes I think the average promotional products buyer has not thought the results through themselves prior to product investigation, which can lengthen the sales cycle sometimes….
We put Randy. Just helping the buyer clarify the results he/she is looking for will set you apart from all of your competition.
1. Focus on specific results. It’s all about the results you can offer. More yes’ is the name of the game
Well said Nick. But, don’t forget, both “yes’s” and “no’s” are great. Just want to avoid anything in between…
I agree with focus on client needs but if you have probed and understood the business and or project then your solution should be specific. Giving 3 options as a rule means you are have not probed enough or did not listen enough to what your prospect is saying.
Totally disagree with this. First of all, let’s stop using the word probing. It sounds medical. But, secondly, offering three options is all about letting the prospect decide how much value they want and need. By providing three options based on what they told you, they now have a choice. We could never ask enough questions to know exactly what is going on inside the mind of our prospect.