We all want to close more sales, yet sometimes that’s not the best way to make more money. It’s actually much easier to double your sales by doubling the amount of your average sale than to double the number of sales that you close. Quality, as the saying goes, is more important than quantity. I recently read a report that shared three ways to dramatically increase your sales, and here’s what they had to say:
Go after the big ones: Many salespeople spend their whole careers calling on low-level prospects with small budgets. Only go after the high-paying prospects, who have both the authority and budget to agree to large investments. Prioritizing highly profitable sales allows you to turn down the smaller deals that wouldn’t offer a large return on your investment. Big opportunities take just as much time and efforts as smaller ones, but have a much better outcome.
Establish your expertise: Salespeople have a unique 30,000 foot perspective on the industry of their prospects. To close the bigger deals, present yourself as the expert; start off sales meetings by commenting on some things you’ve observed about the current industry. By starting out with an observation, you’ll set yourself up as a true expert, boosting your value and serving as a powerful way to build up to a larger sale.
Uncover the cost of your clients’ challenges: After talking to your prospect about the issues in their industry, ask how they’re related to them. This helps get prospects to open up about the challenges their organization faces. Ask probing questions that will help determine what’s really happening. After identifying the key challenges of your prospect, ask what these challenges cost their organization, which will put a price tag on the value of your solution. Helping clients see the value of your solution will in turn lead to bigger sales and higher profit margins.