Do you feel as though your company isn’t generating sales as it should be? If so then now is the time for you to take action on that. If you take action now then you will soon find that it is easy for you to start making more of a profit while increasing sales.
You are Marketing but not Selling
Reaching out to a networking contact is a sales call, if they have expressed an interest or a need for what it is you happen to be selling. If your networking meeting is to talk about what you offer or to reconnect in general then this would in fact, be a marketing call. If as a business owner, you are too busy on social media or if you are constantly trying to tweak your website then this is a sign that you are marketing. This is great, but only if you are selling as well. The fix here would be for you to make sure that all of your meetings are up to date and that you are honest about which calls are for marketing and which ones are for selling. If you land a third of your sales efforts and you want to top revenue then you need to pitch more deals, rather than market more. If you can be mindful of the difference here then you will generate more sales for your business.
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You’re Not Targeting the Right Buyer
Reaching out to over 300 people might seem impressive but in reality, are all 300 people interested in what it is you have to sell? In the case of a training business, you’d be better off chasing 30 people who are HR professionals or who run a business. The main reason for this is that they are much more likely to need your service, and therefore, more likely to buy from you. If you talk to someone who isn’t interested in what you have to sell then you’re just marketing. The fix here would be for you to go through your contact list and make sure that you prioritize people who might have a need or an interest. When you have done this, you can then make sure that you have a sales pipeline setup, and that you are saying the right things to the right people. Only then, can you get the results you are going for. If you need help with that then one thing you can do is hire a top Salesforce partner.
The Buyer’s not the Decision-Maker
When you take the time to whittle down your list to the people who happen to be interested in what you have to say, then this will get you closer to making a sale. With that in mind, it’s still an inefficient way of working. Are the people who you are targeting, actually able to make a decision? Maybe your friend in HR organizes the training but in reality, it is their colleague who happens to organize the payments for training. If this is the case then your buddy who works in HR is a useful contact and you should be using their services, but with that in mind, you should also be making sure that you are chatting with the decision-maker as they are the one who is going to be closing the sale. The fix here would be for you to talk with your interested prospect and then confirm other things that have to happen in the decision. Do they have to consult with someone? If so, find out beforehand so you can make solid decisions.
There’s No Urgency
Another major issue is that there is simply no urgency. You may connect with an interesting prospect and they may even have the budget to buy, but they could well have other priorities right now. Time, budget and even attention are all limited resources and if you want to close a sale then you have to make the offer you are making the priority right now. The fix here is very simple. All you have to do is during the sales process, make sure that the deadlines are confirmed and that you happen to accept the constraints that your prospects happen to be facing. Remind your customers not just about the value of your product but why they have to buy it right now. During this time, you will soon find that it is possible for you to build urgency within your offer, so make sure that you keep that in mind.
There’s a Better Alternative
Your prospect may need whatever you are offering right now, but they have a choice as to how to fill this gap. There are probably other companies who do what you do, or it may be that the company is trying to fill the need themselves right now. If this is the case then you need to try and fix this. Remember that the prospects themselves have a choice and that they can either do nothing, or there is the choice to do it themselves. If you have sold yourself then this is great but at the same time, you also need to sell yourself as being the provider of choice in the situation. If you can do this then you will surely see a difference in your sales.
They’re happy as they Are
Another reason why you might not be making sales right now is if they have an alternative waiting for them. If you run a training business then you will notice that other companies also have trainers. Why should they swap to you? The fix here would be for you to recognise the fact that there is a different sale that you need to make when you are dealing with an experienced buyer. If your buyer has already done their research and if they know what they are doing before they swap to you then you need to change things up a bit. This could mean that you need to outline the steps that they have to take in order to work with you. It could also mean that you have to offer a guarantee or a discount so that they feel confident enough to change to you. If you can do this then you will soon find that it is possible for you to see the results you’re looking for.
The Timing Isn’t Right
Let’s say that you are doing everything right and that you are actively asking for sales and not focused on marketing alone. You may find that you are targeting the right buyers and they happen to have authority when it comes to making decisions. This is great, but at the same time, you have to encourage them to buy from you. Your prospect may still say no if it is simply a case of not being the right time for them to take the leap. They may have other projects that they are launching or it may be that their situation is changing. Revenue could be down, so they may have their budget frozen. The fix here would be the fact that right now, you can’t turn a no into a yes. The best move here would be for you to stay in touch and take the time to follow up with them on a regular basis. You might also want to try and work things in their favor where possible. Are you taking the to circle back to prospects who might have declined in the past? Are you keeping in contact with people who might not have taken a meeting before, but may be right now? Remember that the reasons above may be why your sales process is down but even though you have put in the effort, things aren’t changing. Keep in touch with those who may not be ready to take a sales meeting right now so you can boost things for the future.
You’re Pushy with the Wrong People
Sometimes you have to be pushy because it’s the only way for you to get your point across to a reluctant buyer. With that in mind though, you may find that things end up taking a turn fast if you’re not careful. This is the last thing you need, so make sure that you take the time to assess everything and that you make sure that you are not pushing someone too hard. If you do then you could well lose a customer for life, which is the last thing you need. If you want to do something about this then make sure that you assess your options and that you don’t push someone who is simply not ready to be pushed. Reading a situation can sometimes be hard, but if you put in the work and if you get to know your customers and their situation then you should be able to make the right decision when it really counts so be mindful of that if you can.
