3 Sales Tips to Make More Money
Contrary to popular belief, technology in many ways has made it harder for any business owner or sales professional to sell. The competitive landscape in many industry verticals has risen mainly due to the rise in popularity of the mass emailing system which essentially can turn any company into a commodity competing against 100 other firms for the same clientele.
Unless the business owner or sales representative differentiates him or herself from the competition, they are going to get caught in a pricing war that will squeeze margins and lengthen sales cycles. That is, if they get a response at all.
Here are 3 sales tips on how to make more money, mitigate the odds of your business becoming a commodity and to gain a competitive advantage in your industry:
1. Determine What is Different About Your Offering – Upon approaching potential customers, determine what is unique about your offering and, when selling focus on those points. If you stress benefits that don’t differentiate your company, you are bound to lose to original, interesting pitches.
2. Determine Who Your Target Market Is – When first selling as an entrepreneur or at any level of business development, determine who is most likely to buy your services. When I started my KAS, we used to chase any and all incoming leads. That is, until I realized that there is only so much time in the day and there are only a small percentage of those interested who are likely to pull the trigger if you sell to them properly.
Now, I have it done to geographic scope as well as size of company and have altered my sales pitch as well as marketing tactics according to my findings. If you are still a small business, find a clever way to separate the good from the “time sucks” and change your selling strategy accordingly.
3. Personalize the Emails – When many customers buy products and / or services from a mass email, they feel somewhat slighted and, many times they feel unintelligent. This may deter them from buying a second time as well as prevent any up-selling opportunities on the first round of revenue generation.
Every client likes to feel as if they matter. Now that they are getting spammed more and more, companies have a heightened awareness as to what is a mass email and what is personalized, well-written business correspondence. The latter gives companies more confidence when it comes to account management after the sale.
To personalize these emails, you may want to discuss what you found on their website or, if you want to even be more thorough do some back research on the target individual, in a subtle manner mention your findings.
In the End
If you don’t differentiate yourself and your company by coming across as unique, upbeat and eager to do business, intelligent companies that tend to have the money to purchase over and over again, won’t buy.
Don’t let technology go against your selling efforts, rather use today’s tools to be more effective in day to day business development.
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