All salespeople want to crush their sales goals and boost their profits, but few know where to start. It can be daunting to transform your entire sales approach. Fortunately, there are two proven ways to grow sales: You can either increase the total number of sales you make each year, or you can increase the average value of each sale you close.
Each approach yields good results individually, but the best way to boost your profits is to combine both. The most successful salespeople in any industry work to close more deals every year, and simultaneously try to increase the average value of each individual sale.
There are eight simple strategies you can use to achieve this well-rounded sales approach. Follow these powerful tips for insanely profitable sales, and you’ll put together a game plan to increase your total sales and your average sale value -- ultimately crushing your sales goals:
1) Stop talking benefits.
Your prospects hear salespeople talk about the benefits of their product all the time. Quite simply, they’re sick of it. Instead, focus on the results you can achieve for your prospects -- only after you’ve discovered all you can about your prospects’ challenges. After all, your prospects only care about their problems and how you can help solve them.
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2) Ask for one introduction per day.
Instead of asking for referrals, try asking for an introduction to a potential prospect -- and do it once a day. While this might sound like a lot of work, asking for one introduction takes no more than 10 minutes of your time and is a smaller ask than requesting a referral who’s ready to buy right now.
This is a surefire way to boost the number of sales you close. Introductions are the best way to eventually fill your pipeline with qualified prospects. Just one introduction a day becomes five per week -- which translates into 250 introduction requests per year!
3) Host private client events.
Everyone loves feeling like they’re special, and there’s no better way to make your prospects feel special than to invite them to an exclusive event. When you invite both your top clients and top prospects to an event, you’ll enjoy the added benefit of watching as your top clients do your selling for you.
4) Create client case studies.
When you can provide strong examples of what you’ve actually achieved with past clients, prospects will be far more likely to trust you to solve their problems as well. When creating a case study, don’t focus on the deliverables or what you did for the client. Instead, highlight tangible results you accomplished that your prospect will find relevant to their own challenges.
5) Include three options in your proposals.
Your prospects want options. If they don’t get them from you, they’ll shop around until they find someone else. By providing three options that range from a least expensive opportunity to a premium choice with massive value, you’ll give your customers more perspective on what’s out there. You’ll also give them the opportunity to choose the high-end option -- helping you close more sales with a higher average value in one fell swoop.
6) Go after the top dogs.
Most salespeople make the mistake of focusing their time and energy on low-level prospects -- but those individuals have small budgets and less decision making authority. Instead, go after prospects at the top of the food chain who can more easily say “yes” to big investments.
7) Don’t spend time on the small stuff.
Once you decide to go after the top dogs, it’s time to start saying “no” to tiny deals that waste your time and don’t move you forward. Big opportunities take the same amount of time and effort as small sales, but they lead to outcomes that are five to 10 times better for your year. Start focusing solely on prospects that can make a big dent in your year-end goals.
8) Understand the cost of your prospects’ challenges.
You might already focus on uncovering your prospects’ challenges, but have you asked what those challenges are costing their organization? When you can get prospects to articulate the cost of their challenges, you’ll help them create value, in their own mind, for your solution. If a challenge is costing a company $5 million, your solution is easily worth its $500,000 cost. They’ll get a tenfold return on their investment -- and you’ll close a sale for half a million dollars.
When you follow these eight hacks to more profitable sales, you’ll be able to crush your goals by closing more sales and increasing your average sale value. Which tip did you find most helpful? Share your thoughts in the comments below.