Jeff Cruickshank, a sales and business coach recently spoke to The Networking Group’s online meeting about turning prospects into clients through the careful consideration of lead flows, proper sales interview planning, and finally closing the sale.
The importance of measuring performance
Before getting into the main topic, Jeff prefaces his talk with a quick discussion on the importance of measuring your leads, sales, and closes.
You need to monitor where your leads are coming from, how many you’re getting, and how many you need to meet your targets. Next, you need to measure how many of your leads convert into sales meetings. Finally, you need to see how many of these sales end in a close.
Jeff advises that you work them out as percentages. That way you can identify any problem areas in your process.
A consultive sales process
Next Jeff provides an overview of the “consultive sales process.” Jeff explains that you should approach sales not to sell the client something, but to solve their problem through what you sell.
The process begins with lead generation. While there are basic lead generators such as social media, email, LinkedIn etc, Jeff explains that referrals are the best.
While cold calls lead to around a 10% conversion rate, referrals offer between 60% and 80%. Jeff also points out that when you’ve closed a deal and are in the delivery step, this is the key moment to look for a referral. A happy client will, in a sense, become part of your sales team.
Networking
Another great way to get referrals is through networking, and joint ventures. When you network effectively, you can forge bonds with other business people, and in the best case, establish a joint venture where you refer clients to each other.
Jeff points out that when networking, you shouldn’t pitch a product or service. Rather you should “sell” an appointment. A meeting over coffee for example, in order to begin building a professional relationship.
Planning
Another crucial area Jeff discusses is planning for sales interviews. Besides going to your clients, you must also do your homework on them. Look at their website, their LinkedIn, their social media, and get to know them.
Figure out what they might need and develop a script that includes scenario questions, possible objectives, challenges and so on.
Jeff explains that confidence comes from preparation.
Removing the element of price
Jeff emphasizes the need to “remove the element of price.” He points out that some clients buy on price, while others buy on relationship. Your goal should be to sell in a “consultant” capacity, and so your focus must be on getting the client to buy on relationship.
You can do this by asking lots of questions, rather than making statements about your product or service. In other words, figure out how to pitch the benefits of your product to the client, rather than talking about the features through questions.
A statement has a 50/50 chance of landing, while a question can never fail to create engagement. This also helps you cut down on unnecessary talking, eliminating opportunities to fumble.
Jeff emphasises that the questions you ask must “stretch” the customer’s pain points, and thereby increase the perceived benefits of your product.
The rules of selling and handling objections
To end off, Jeff runs through the rules of selling which are:
– Features and benefits can be used in the selling process together.
– You can sell on benefits alone.
– You can never sell on features alone.
– The more benefits you sell, the more likely you are to close.
– Features are about you, benefits are about your buyers
As a final note, Jeff covers handling objections, which could stop a sale dead in its tracks. Objections are ultimately handled by having everything else in place. Have a solid referral, preempt possible questions and issues, and finally, look out for buying signals, and don’t be afraid to ask for the sale.
Many fail to close simply because they leave it up to the client to take the initiative.
A contact sport
Jeff points out that sales are a contact sport. It’s a constant game of planning, moving, keeping in contact, following up, asking to close, getting referrals and repeating the process.
Just like a sport, through smart research, good planning, and keeping your head in the game, you can boost your lead generation, foster sales, and ultimately close, before opening the way for more leads.
See the whole presentation on (7) How to achieve MORE Income, Freedom and scale” through sales training, plans and prospecting.” – YouTube and Contact Jeff via his website.
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www.tng.org.nz/groups
