Sandler Training(R) Offers Sales Tips to Meet Your Goals in a Tough Economy
How to Close Sales by the End of the Year
OWINGS MILLS, Md., Dec. 2 // PRNewswire // -- Opportunity knocks in the sales industry. As companies across the globe struggle to meet their sales numbers, it can be the worst of times, and yet, can present unprecedented opportunities to serve customers and clients in a capacity as never before. So how do you close sales in a tough economy, and meet year end budgets? Dave Mattson, CEO of Sandler Training, the internationally acclaimed, award-winning sales and leadership management franchise offers these tips for selling in a tough economy.
Create a sense of urgency. Establish the consequences of your customers not taking action. Think about what your customers have to lose by inaction. Forget features and benefits and talk about the hard value of your product and service in measurable terms. Be able to articulate this to your customers and prospects. Provide creative solutions to help your clients. Offering time-sensitive discounts for contracts signed through the end of the year, or instituting your own corporate "cyber" Monday or one-time signing deal one day of the year, are just some of the methods that can be employed.
Reward your best customer segments. Extend exclusive benefits to your most loyal customers. These can be incentive-based, or offer your customers value-based goods and services that are not available to the general public. The cost of acquiring new accounts has skyrocketed. Studies over the years have shown that selling additional products and services to an existing client base can be more cost effective than spending time in new client development. With existing accounts, the cost of acquiring the business has already been absorbed. Many times, your existing client base would utilize more services if salespeople had the foresight to ask for the business. Yet many seldom ask.
Ask and tell. Ask for a list of other upcoming projects or purchasing decisions that are happening. This will expand the scope of your business. Often, your client does not understand your full line of products and services. By having your clients explain what is going on internally, you can use your product knowledge to decide how to best apply it, and where.
Sell internally. Cross sell opportunities within the organizations of your best clients. Ask your client for the names of other people working in other departments within his/her company. Ask for the names of those in charge of purchases and projects within the scope of your expertise. Inquire what expectations your client has for the upcoming year and how much business they have given you thus far. Then ask, "Based on where we are in the year and projects that you have going on internally, where do you think we will end up at the end of the year? What additional business would I be involved with?" Get that number. Use it to help forecast sales and check that reality with the number in your account plan.
Do lunch. Take your client to lunch to thank them for their existing business. This is an opportune time to tell clients how much you appreciate them. Let them know they are an important part of your business, and you will strive to maintain the partnership. Review the history of the account, and let your client do the review. For instance, The Sandler Selling System suggests opening the dialogue by asking questions like: How long have you been doing business together? How satisfied is the client with your services? How does the client feel you could improve your service, and in what areas? How receptive would the client be to giving you a reference letter? Most successful salespeople have a book of reference letters. Instead of extending the sales cycle by having a prospect call your existing client, you can pull out your reference book for immediate review. A reference letter enables your client to put their thoughts and feelings into concrete form. If your client has trouble putting thoughts and feelings into concrete form, it's helpful to go over the letter with them.
Stop "closing" sales and open business relationships. You can earn compound interest on your selling efforts. What does it mean to "close a sale"? (Where did that phrase come from?) What are you closing? In some situations, the word "close" suggests finality. When you close a file, you're finished with it. When you close a bank account, the account no longer exists. When a detective closes a case, it's over... mystery solved. In other instances, "close" suggests a barrier or a sealing off. When you close a door, you are blocked from what is on the other side. When you close the lid of a jar, you cannot retrieve the jar's contents. When you close the covers of a book, you cannot read the words within. So, what does it mean to close a sale? Are you finished with the customer? Have you closed the door and put the lid on further opportunities? Hopefully, the answer is "no." Reframe you thinking about closing as the culmination of an activity and view it as the beginning of an activity-opening of a new business relationship. Here are some suggestions:
The post close. Find out if there are other divisions or departments within your new customer's company that can also use the product or service you just sold and ask for the name of the person(s) to contact. Ask your new customer for referrals to other companies that he believes can benefit from the product or service you just sold to him. If there are additional products or services your company provides from which your new customer can benefit, mention those items at this time, determine the customer's interest and set up a time for further discussion. Make a point of meeting the principals of the company if you haven't already done so.
David Mattson is the CEO of Sandler Training. Since 1986 he has been a trainer and business consultant in management, sales interpersonal communication, corporate team building and strategic planning throughout the U.S. and Europe. His domestic and international clients include top-name organizations in many different industries.
Sandler Training is the leading provider of sales and management training with 225 licensed trainers throughout the U.S. and internationally. The company provides a full range of sales and management training programs, with powerful coordination and customization benefits throughout its extensive franchise network. Among its many achievements, Sandler has been awarded the #1 ranking for training programs by Entrepreneur Magazine eight times since 1994, including the past three years (2006, 2007 and 2008).
SOURCE Sandler Training
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