Selling is both an art and a science. There are thousands of books, training courses, methods and tools on the sales discipline. So which methods and tools are best?
My experience is all work well in the right context. So where should salespeople focus their effort to increase performance? Make it simple, focus on the “high performance traits”.
High performing, large ticket sales people have three traits in common. They:
1. Qualify prospects to focus limited resources
2. Prepare themselves before interacting to customers
3. Demonstrate persistence
Qualification
Don’t believe the hype. In large ticket sales, everyone you meet is not a potential customer. Your grandmother won’t buy your earth mover. It’s unlikely that your electrician can afford to buy your wire and cable manufacturing company. Your local dry cleaner is more likely to buy Quickbooks than SAP.
Salespeople have limited resources (time, budget, emotional capital) to drive revenue. Even worse, they are given set timeframes in which this revenue must be obtained. Every minute and dollar counts. Taking the time qualify potential prospects eliminates significant waste and focuses your effort.
Another effect it has is preserving your emotional capital. “Collecting your “no’s” is a phrase I have heard many times over the years. This phrase describes sales being a numbers game. If you collect enough “no’s” you will find get your “yes”. With the right volume of contacts you make your quota.
This process can be personally taxing, even for the best salespeople. Often because the best salespeople hate to lose, no matter what they tell you. Sales is a personal business. Your energy, or lack thereof, does impact sales. People like to but from positive, vibrant salespeople.
Qualification slants the numbers to your side. It decreases the number of “no’s” in the process. It preserves your emotional capital. This energy can be refocused where needed to drive sales to closure.
Preparation
Ready, shoot, aim! I worked for a Vice President once that wanted to cross sell a software product to an existing customer base. Great qualification!
She refused, however, to do any research on the customer before initiating sales calls. Existing customers! Invaluable experience existed in the company from people who knew these customers through years of interaction. She chose not to leverage it.
The company relationship was not enough. Over time her sales waned because she tried force fitting solutions onto customers. Pushing unqualified solutions she tarnished the company relationship in many accounts. An equal opportunity offender, she upset customers and peers alike. In the end she lost her job.
Preparation is 90% of sales. Know your product and company well. Research your prospects in depth before any sales interactions. Target your proposed solution to specific individuals, to meet targeted needs in their business. Even if the proposed need doesn’t exist, it shows you took the time to understand their business and your acumen in deriving solutions. You will get noticed.
Persistence
Persistence isn’t “stalking” your customer. Remember the Vice President I mentioned earlier. She boasted a 98% close rate. That’s because she considered anyone that said no a prospect yet to be closed!
The truth is she closed maybe 5% of large ticket open opportunities. She was seen as pushy by customers and peers alike. Even worse, she lost credibility with senior management as opportunities pushed across many quarters. They could she her pipeline was not qualified and couldn’t count on her revenue in any forecast.
Persistence is thoroughly following up on qualified leads. Be responsive to prospect’s requests. Hit prospects at many levels and talk to many contacts. Don’t give up on the first no. If they say no enough, however, stop the madness. Sometimes no means no and you must qualify them out of the pipeline. Remember, you have limited resources. Don’t waste them chasing ghosts!
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