Success in sales
Key success areas in sales
As well as being one of the most important aspects of business, sales is also one of the most challenging. Small differences in the ability and skill of salespeople can lead to dramatic differences in their results. Attaining the top level of sales – and staying there - requires constant innovation, awareness, and improvement.
Research has identified seven key areas that salespeople need to develop if they’re going to excel in their field. Covering the entire sales process from start to finish, these seven factors are integral to boosting performance and attaining goals.
1. Prospecting
Prospecting is one of the most challenging parts of sales. To achieve results, salespeople need to be able to communicate the main objective of their call, lay the foundations of a business relationship and listen to the needs of their potential client, all at the same time. This is a real skill, and it can take time to learn. By actively working on your technique, and looking for ways you can improve your results, you can ensure that your prospecting calls have an excellent chance of success.
2. Building rapport
As Dan Tyre writes on Hubspot.com, “Rapport is the first step to earning confidence and trust, and it lets the prospect know you're not running the typical conversation between a pushy salesperson and browbeaten prospect.”
3. Identifying needs
Identifying the needs of a potential client is essential if salespeople are going to match customers with the correct products and services. One of the best ways to assess a prospect’s needs quickly and accurately is to get a real, two-way conversation going and then listen carefully to the answers a potential client gives. This is the process of collaborating with suppliers and customers to create offerings that have value
?See article on Marketing processes https://www.dhirubhai.net/pulse/marketing-processes-dr-sam-samu?lipi=urn%3Ali%3Apage%3Ad_flagship3_detail_base%3BjpoJDu20QCeLkfBeLrIvHg%3D%3D
4. Presenting
Once a salesperson has identified the needs of their potential customer, they’ll be in a better position to present relevant solutions. Personalising the presentation of products and services to show how they can meet customer needs will help salespeople to bring the call to a successful conclusion.
5. Answering objections
However well a product or service is presented, most potential clients will still have a few objections. Handling these objections adeptly is important if salespeople are going to move onto the next stage of the process.
Objections are usually a need for more information. These are factors that stop your sales leads from deciding in your favor.
As a salesman, you should not be worried. Every sales conversation is met with at least one objection. And the moment it is uttered, sales agents tend to become defensive. By doing this, you come off as unprofessional and sometimes incompetent – say bye to that business deal.
Objections are not negative. Nine out of ten times, when sales leads say ‘no’ it doesn’t mean that they don’t want to use the product or service. Instead, they say ‘no’ because they don’t have a compelling reason to buy. An objection is a request from the prospect for more information on the product or service. Sometimes the prospect can’t visualize how your product can help them achieve business goals.
It’s your job to focus on providing information based on the needs of your prospect’s business and explain how your product can solve a certain problem or produce a certain result for the business.
Once you recognize what an objection is then you can overcome objections with ease. You should embrace objections, analyse them and reply directly to those specific areas of concern – never ignore objections, always address them.
Potential buyers can have many objections. This can be related to price, functionality, and many more – you name it, there’s an objection for it. These objections can come during the qualification stage of the sale or during the conversion process, they’re always coming up (no escaping).
It’s critical that sales agents understand the most common objections that come up along with best practices on how to overcome objections.
Techniques for Effective Sales Objection Handling
Don’t…
1. Take the objection personally.
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2. Interrupt your prospect mid-sentence and rush to overcome the objection.
3. Start your counterpoints with negative words like ‘But’, ‘If’ and ‘So What’.
4. Use excessive “salesy” words like ‘cutting edge’, ‘innovative’, or ‘best in class’.
5. Talk about the product and service USPs without relating them to the objections.
6. Become defensive when prospects question the quality and efficiency of the product or service.
7. Assume that the objection is addressed without confirming it from the prospects.
8. Assume that the deal is lost because prospects have voiced an objection.
9. Have a partial or surface-level understanding of the objections.
10. Offer discounts immediately to resolve the monetary objection of the prospects.
Do…
1. Show Gratitude. Look at this positively – just another way for you to give your prospect more information. Acknowledge your prospect’s objections and provide the information needed to close the business deal.
2. Understand Your Prospects. Connect with your prospects on a personal level. Listen to their objections carefully. This shows that you value their concerns which helps build trust.
3. Dig Deeper. Ask your prospects open-ended questions to gain more insight into their objections. You must understand what’s stopping them from buying.
4. Confirm the Objections. Take a note of all the objections and restate them in your own words. Ask your prospect to confirm whether you understood all the points mentioned.
5. Explain Your Unique Value Proposition. Show what sets your business apart from the competition. You should consider the value you’re bringing to your prospect and your prospect’s business.
6. Offer Solutions. Align the features and benefits of your products and services to your prospects’ specific pain points. Pain points include things such as lost revenue, low productivity, poor customer satisfaction, etc.
7. Share Customer Success Stories. Share testimonials, case studies and other references. This may help you overcome objections and give prospects complete confidence in your company’s products and services.
8. Be honest. Skip the sales pitch and make fresh, spontaneous, and persuasive conversations. These conversations should be relevant to the prospect’s objections and help build a great rapport with them.
9. Proactively Bring Up the Objection. Refer to the CRM to learn the objections you have encountered earlier. Answer them proactively to win the confidence of your prospects.
10. Offer an Incentive. Encourage your prospects to take advantage of your incentive. Depending on your business, this could be a free trial, free shipping, $10 off first purchase, and more. This gives both parties a chance to work together, build trust, and mutual respect.
6. Closing the sale
There are lots of ways to close a sales call. Selecting the right one for each individual occasion will help to bring the call to a satisfactory close for both parties.
7. Getting resales and referrals
Making an initial sale is just the first part of the sales process. For salespeople to maximise on the value of each call, they need to ensure the customer comes back again and again. On top of return visits, salespeople should encourage existing customers to refer other individuals and companies. This can help to dramatically improve sales results and help businesses to achieve their goals.