Improving the close sales rate is a big focus for all small business owners. After all, the more deals you close, make more money! In this blog post, we will discuss seven strategies that you can use to help increase your chances of closing a sale. Implementing these strategies will help you become a better closer and boost your bottom line!
The seven strategies that can help you increase your chances of closing a sale are as follows:
1. Processes improve your sales close rate
Having a well-defined sales process that is easy to follow and takes into account the unique needs of your customers will help you grow your business.
This means having a system that considers your customers’ unique needs (what do they value?) and makes it easy for them to buy from you.
One way to do this is to create a sales funnel. This tool helps you map out the process and your customer’s journey from becoming aware of your product or service to purchasing.
By understanding the different stages of the buyer’s journey, you can create an immediate sales process that caters to their needs at each stage. This will make it more likely that they will take the desired action, which is to buy from you.
2. Creating a great first impression with potential clients
Making a great first impression will help you close more sales, as potential clients will be more likely to trust you and do business with you.
Here are some tips for making a great first impression:
-Dress professionally and appropriately for the meeting
-Have the necessary materials
-Show up early
-Be friendly and positive
-Make sure your potential clients feel comfortable
-Listen more than you talk
-Focus on the other person, not yourself
-Follow up after the meeting to thank them for their time and send them any additional information they may have requested.
3. Being knowledgeable about your product or service
When you are knowledgeable about your product or service, you can answer any customer’s questions. You can also provide free tips and more information about your product or service, which can help close the sale. Additionally, when you are knowledgeable about your product or service, you can provide more accurate quotes and estimates to customers. This can help build trust and confidence with the customer, leading to a sale.
When you don’t know, be honest and say, “I don’t know but let me get back to you.” People appreciate honesty.
4. Asking questions to understand the client’s needs
Asking questions isn’t about “closing” this lead. That’s a bit cold, and your prospect can feel this energy.
To understand this person, you need to ask them questions because this shows you care. You’ll better understand what they’re looking for, and you can then tailor your pitch to meet their needs.
Here are a few questions that you can ask your prospect:
-What problems are you dealing with?
-When do you want these problems solved?
-Where are your priorities today?
-Who is your decision-maker for this project?
5. Closing the deal sooner rather than later
Close the deal sooner by getting straight to the point with fewer distractions.
It can be easy for your prospect to get distracted and procrastinate if you ask too much of them in one go or they feel like they don’t have enough information on what’s being offered. And don’t confuse them with free tips or making a “FOMO Buy Today!” deal. Presenting concisely and staying focused will give your customer a much better chance of taking action and saying yes to your offer.
6. Incentives can improve your close sales rate
One common way to incentivize someone to close a sale is to offer them a discount on the product or service that they are purchasing. Customize your incentives. You can also provide them a free trial of the product or service, a gift card, or another type of bonus. Whatever you offer, make sure it is something the customer values and is motivated to use.
7. Persistance improves your close sales rate
First, know who you’re talking to because the timing and number of follow-ups vary. A warm referral is someone who has been referred to you by a friend or acquaintance. A cold lead is someone with who you have no personal connection. You may have found their contact information through a list or directory.
If you’re following up with a warm referral, you should follow up more frequently. Your referral source can likely help you close this contract. If you’re following up with a cold lead, you can space out your follow-ups more.
The art of persuasion is not easy. It requires a lot of hard work and patience. One needs to be persistent to close more sales, but it’s worth it because the payoff can be huge. Persistence pays off when you follow up with potential customers who may still be on the fence about buying your product or service.
If you want to increase sales, the first order of business is to improve your sales close rate. After all, people have expressed an interest, and now it’s up to you to respond. Contact each contact and focus on providing value. Be persistent and follow up with potential customers, and offer thoughtful incentives. Follow these tips, and you’ll be well on your way to improving your sales.
Would you like help to evaluate your close rate? Please apply for a free consultation with me by using this link.
Janet Johnson is a small business advisor and author of My Money Pivot: An Entrepreneur’s Guide to Finding & Making More Money and this educational blog. All views expressed belong solely to Ms. Johnson and do not represent the views of her employer. The website, MyMoneyPivot.com, is currently managed by Luz Marcos, Virtual Assistant.