Would you like fries with that? Is that in a large meal? Would you like to see the dessert menu? Would you like to add a gold-plated zip to that? Would you like the bottle or per glass?
Are you ready to make a decision based on what you’ve seen so far? Do you want me to show you more or are you ready to proceed?
The word ‘sales’ has a certain stigma associated with it. The reason for this stigma is simply due to the application of the word sales and relevant accompanying stories of pressured sales, and the terrible and ugly ‘salesman’ ways over the last 25 years.
The product pushing salesman who pushes products and deals down your throat before they’ve ascertained your readiness or interest to in their offering. I mention sales and you quiver and automatically think ‘used car salesman’, ‘real estate agent’, or ‘insurance broker selling products’.
Maximising sales does not have to follow the ‘sharky salesman techniques’ using manipulating product pushing pressure.
In fact, moving away from the old product-based selling and into trust-based selling model is very effective at maximising your sales. This has worked so well for me over the last 15 years.
So how on earth can you maximise every single opportunity? Look at these FIVE elements to selling and closing and ask yourself whether you’ve considered ANY of them…
1. Lifetime of a sale – how many times in a customer’s lifetime will they purchase from you?
2. Your ability to question and then propose (sell)
3. Directional selling (Up, Down, Cross) to increase the weight (transaction amount)
4. Business growth formula for compounding growth of sales
5. Your ability to close a deal (yes, this is different to point 2)
The lifetime of a sale boils down to a very simple view of sales: when a customer purchases from you for the first time, how long will they remain a customer, how frequently will they purchase, and what are you doing to capture the subsequent sales along this timeline. Here are some basic questions to understand this concept further:
1. What are you doing to get the customer to return to your business after the first sale even if it isn’t for another 5 years
When you do manage to close a deal, are you attracting your customer back to your business when they are ready to purchase again? If you aren’t, then you are leaving A LOT of cash on the table for someone else to collect. Why you let your cash walk away after the moves you made to get the sale in the first place?
Eg. Email campaign, discount voucher for returning purchase, retargeting advertisement campaigns
2. Your ability to question and then propose (sell)
Questioning your prospect is about understanding wants, needs and desires, and also understanding why they need to purchase.
We all purchase food, but why do you need it? Easy question to answer. We need to eat. Naturally your customer will pick out something that satisfies their needs, wants and desires, and will pull out their wallet and pay the set amount to acquire the deal (food).
You must do the same in every transaction. Find out what your customer needs, wants and desires, and then sell them on what they need.
3. What are you doing to maximise the immediate sale to get your customer to purchase more? (sell)
When a customer, client or patient presents to you, your immediate response will typically be ‘sell them what they need’ scenario. But you must also sell them what they want after identifying what it is they want, need and desire.
By using directional selling, achieve 3 times the opportunity by simply selling with a higher focus and strength. 70% of people say yes to a meal, 33% of those 70% say yes to a large, and 17% of people say yes to a dessert or promotional $1-5 addon. Think what this would do to your sales if you added 3 questions and closed every single deal.
Eg Directional selling (Upsell, Downsell, Cross Sell) and have them purchase a coefficient product, a larger version, a package, or something similar.
4. Business growth formula for compounding growth of sales (sell)
The business growth formula is this: # of transactions X average transaction value X frequency of transactions. More simply put, number of sales X average sale price X number of times this sale occurs. Add 10% to each of these 3 variables and you do not return 10%. No, in this case, your efforts are compounded and youreturn 33.33%. Just by adding 10% to each area.
10% to sales numbers
10% to sale prices
10% to number of times purchased
Wanna supercharge this formula even further?
Do the following…
Add 10% to your prices
Add directional selling to increase sale price
Add an email campaign to return customers to your pipeline whenever they are ready to purchase
Promote an active loyalty or referral program by inducing 2 sales from 1 sale.
Be careful doing the above, because when you do it effectively you need to add a sales team to keep up.
5. Your ability to close a deal (close)
There are sales kings and queens, and there are closing kings and queens, but to really rule as a king or queen, you have to be a selling and closing god. I don’t tread lightly when I talk about the importance of closing. You can be the more effective and productive seller in the world. You could even travel around the world selling. But if you can’t close off a deal with a signature. You’re ability to be effective at generating MONEY from the sale will suffer big time. You must learn to overcome objections of money, of time, of not having their wife/husband/daughter/accountant/lawyer/best friend/dog there with them to make the decision. You must CAUSE THEM TO MAKE A DECISION, and that decision should always be…. A yes.
It’s time for you to focus on making it in business. And I mean REALLY make it. Focus on the 5 critical strategies above and watch your efforts really pay off. Literally; pay off with MONEY. With cash. It’s time you found the people who are willing to give you money, and close them into a decision of saying yes and writing you a cheque, pulling out their credit card, or giving you an email address to send the invoice to.
Stop wasting time criticising sales professionals.
Stop wasting time with people who don‘t want to front up cash for your products or services.
Attract those who can pay, and close the deal.
These people already want to buy, make it your objective for them to buy with you.
And decide for them.