Archive for the ‘Selling’ Category
The fourth function in your client development process is . . . CONVERTING.
Some call it ‘Selling’ or ‘Closing’. It’s critical to the ultimate outcome you’re seeking — i.e. to go to your bank with a lot more more money than you’re putting in there now.
I just returned from a business trip from the west coast. It was a long flight – over 4 hours. Apart from occasional turbulence, nothing exceptional. Now we’re on ‘final approach’ to land. Seatbelts fastened. Check. Tray tables in their upright and locked position. Check.
About 50 feet off the runway, a gust of wind hit the aircraft and almost put one wingtip into the runway. Fortunately, the pilot recovered (Thank God!) control and the landing continued ‘as planned’. But what if, in the last 10 seconds of the flight, the pilot ‘lost control’ of the landing? The entire flight would have been deemed a ‘disaster’.
Selling is a ‘Mission Critical’ Function
Converting qualified opportunities into realized revenues is what really brings closure (no pun intended!) to your Client Development System. It’s the last ‘key piece’ of the puzzle that makes it possible for you to go to your bank. So you must do it as effectively as each of the three (3) previous elements — Fueling, Qualifying and Cultivating.
Use a SYSTEM!
If you have a business function that is needed repeatedly, done routinely and produces results that are critical to your success . . . please . . . don’t ‘wing it’. Do it by design, not accident. Otherwise, you’ll get the results you want sporadically and erratically instead of consistently and conscientiously.
KEY POINT:
If you’re seeking to gain the skills and attitudes needed to be effective at converting opportunities into revenues, I highly recommend you find a good sales training organization or coach and work on building the skills and attitudes you need to be effective in this key function. (Psst — if you need a good recommendation . . . call me! 860-798-6964)
This week, I’ve suggested 3 ways to grow your revenues. First, see more people. Second, sell more effectively. Third, improve your ACT (Average Client Transaction).
If you want to increase your revenues, consider this: ”Doubling ANY one of these three factors will double your revenues”. Consider therefore, the following:
Row ‘A’ . . . shows the relationship of the 3 factors that drive the revenues you’ll generate.
Row ‘B’ . . . shows that doubling the number of ’prospects seen’ will double revenues.
Row ‘C’ . . . shows that doubling the level of ‘selling skills’ will double revenues.
Row ‘D’. . . shows that doubling the size of your A.C.T. will double revenues.
Row ‘E’ . . . shows that increasing each factor by only 25% will . . . DOUBLE your revenues
The problem is . . . it may be unrealistic to ‘double’ your seen, skills or case size. But realistic improvement across-the-board is likely to produce magnificent results.
KEY POINT:
A modest improvement in key factors can significantly boost your revenues.
Here are three strategies to grow your revenues:
1. Increase Your Opportunities
2. Improve Your Selling Skills
3. Increase Your Average Client Transaction
Today, let’s consider the Second strategy:
Option 2: Improve Your Selling Skills
Marketing involves creating opportunities for you to speak with prospects. Selling involves helping them to make a decision (Yes or No) about using your services.
As a client of Sandler Training, I know for a fact that most people who are responsible for selling do not know how to do so effectively. As a result, they waste time on people who cannot buy and spend more time than necessary with people who can.
Learning to sell, effectively and efficiently, means you spend less time with people who won’t make you money and of those who can, you’ll close the business that much sooner.
KEY POINT:
Learn how to sell effectively — you’ll save time and make a lot more money!
