About this Author
Michael D. Krause established Sales Sense Solutions, a renowned sales consultancy firm.
2013
Business & Money
Management & Leadership
13:10 Min
Conclusion
7 Key Points
Conclusion
Understanding and focusing on qualified leads, utilizing a proven sales process like SMART, and tailoring your approach to match the customer's profile is key to enhancing sales growth. Adapt your sales style, set SMARTER goals, and utilize technology and social media to reach and connect with prospects effectively.
Abstract
Michael D. Krause, a seasoned sales professional, achieved over $100 million in sales throughout his career, starting from selling lemonade as a child to marketing landscaping services in college. Transitioning to Fortune 500 companies, he excelled in sales and later became a consultant. His guide helps salespeople identify their unique "sales styles" to improve closing strategies, emphasizing traditional sales tactics and essential principles such as thorough research and crafting distinct value propositions. To enhance sales, focus on generating qualified leads, using the SMART prospecting system, understanding your sales style, setting SMARTER goals, creating a unique value proposition, using various outreach methods, following a structured sales model, and focusing on connecting with prospects to address their needs.
Key Points
Summary
Increased leads lead to increased sales.
"Qualified leads" are crucial in sales. The more qualified leads you follow up with, the more business you'll close and the more money you'll make. About eight out of ten prospects who decide to buy do so from the first salesperson who contacted them. On average, four out of ten prospects will buy if you follow up consistently. Using the "SMART" prospecting system can help you generate more qualified leads, secure the first appointment with a promising lead, close the sale, and make more sales. SMART stands for: "solutions" that solve your prospects' problems; "measurements" of your achievements; a positive "attitude"; steady "resilience"; and being seen as a "trusted" adviser by your clients. A proven sales process like SMART can help you reach your prospecting and sales goals. Forget sales quotas: Real salespeople use assigned objectives as starting points they plan to exceed.
Take four elements into account in your sales process:
œSales Style
To close sales, you must understand your prospects. This means understanding yourself and which type of salesperson you are. For instance, avoid being a "sales clown" “ someone who dresses sloppily has a negative attitude, works only from nine to five, and makes many excuses. Instead, strive to be a "sales professional" who works hard, focuses on customer needs, and solves problems with suitable solutions.
Goals
To succeed in sales, set "SMARTER goals": Specific, Measurable, Accountable and Action-oriented, Realistic and Reasoned, Time-sensitive, Exciting, Ethical and Enjoyable, Recorded and Resourced.
Write down your yearly goals by hand and keep them handy for reference. Also, jot down daily achievable goals to stay on track. Note down the date, the reason why each goal is important, and the benefits it brings. Identify any obstacles, and the people or organizations involved, create an action plan, and set deadlines. Adapt your approach as you progress.
Plan to arrange 10 face-to-face meetings and organize your sales strategy. Making calls after 5 p.m. can be effective as most gatekeepers would have left. This gives you a direct line to your prospects. It might take several attempts to connect and schedule appointments, so stay patient and persistent. If you've tried multiple times with no luck, move on. And when you do make a new connection, don't forget to send a note thanking them for the opportunity.
œUVP and œUSP
Every salesperson needs to find their "unique value proposition" (UVP) and "unique selling proposition" (USP). Your USP consists of the concrete benefits your product or service offers, setting you apart from competitors. Meanwhile, your UVP represents the intangible advantages your product offers. The UVP can vary from one customer to another, depending on their needs. Start by asking your customers, "How do you benefit from doing business with our company?" and "What do you like most about our company?" Use online tools like SurveyMonkey or Zoomerang to create surveys. Define your UVP and USP in clear statements that explain who you help, what you help them do, and how they benefit. For example, a Volvo salesperson might say, "I help families with small children drive the safest car on the market by selling the top automotive safety pick, the Volvo XC60, providing driving peace of mind." Once you define your UVP, ask your best clients for feedback. Your UVP definition should align with and reinforce your survey results.
Gain initial access.
Write an impressive approach letter on quality stationery to turn a lead into an appointment. Start with a "grabber" like asking if prospects are frustrated with their current providers. State the benefits you offer, including your USP and UVP, and include a testimonial paragraph. Add a personal note about yourself or your life. Close by mentioning when you will call to introduce yourself and "learn more" about the client's needs. Use words like "money, save, new, easy, love, discover, results, proven, guarantee," and "free" to provoke a reaction.
Stand out by sending your letter in a unique envelope, using stamps instead of metered mail, handwriting the prospect's name and address, enclosing your business card, and stamping the envelope with a "priority," "rush," or "urgent" message. Consider including something valuable with your letter, such as a trade-show giveaway, and use technology to meet more prospects and close more sales.
In the world of traditional technology, keep in mind that while fax machines have been around for a long time, many professionals, such as lawyers, still rely on them. Now, you can even send faxes through your computer. You can also send text messages, but always make sure to get permission from your prospects first. In the physical world, don't overlook your local chamber of commerce as a source of business connections.
LinkedIn, Facebook, Twitter, and other social media platforms are "the new wave of selling. Make sure you're using every technology option to your advantage."
Your online outreach options include:
Sales Model
To boost your sales, follow these steps: Utilize a "customer relationship management" (CRM) system to manage your connections and contacts. Focus on potential customers to generate leads. Send introductory letters to request appointments. Set a clear goal for your meeting. Conduct thorough research and familiarize yourself with the prospect beforehand. "You can never prepare too much before a sales call."
When reaching out to a prospect by phone, "be brief “ be excited “ be happy!" Have a plan, skip the formalities, and get straight to the point. Apply this approach to emails and all forms of communication with prospects. Remember that "your overall email image includes the subject line, the salutation, the impeccably written message body, and a strong close." Always follow up with an email after leaving a voicemail for a potential client.
Sales Meeting Success Tips
Address concerns
When a customer raises a concern, appreciate it. Consider a prospect's "no" as the start. Objections show what's on their mind and what's stopping the sale. Listen to the objection, even if it's familiar. Avoid being defensive. Respond with clear, factual information to address the client's concerns and ease any worries.
To increase sales, think like your prospect. Imagine what approach would persuade you. Always "connect-connect-connect": Share a story, mention someone's name, and stay active on social media. Focus on the prospect's needs, not yours, and tailor your messages accordingly. This approach will help you reach more prospects and close more sales.
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