As sales people, we are always looking for the same thing – increased revenue. So, here’s a question for you: How do you get a 10% difference to equal a 67% return on investment?
Let’s start with the easy answer – you must put in 10% more effort. That does not mean that I am accusing you of not working hard or not exerting great effort. However, by observing many over the years, I have seen sales people who in reality have already “retired” and just haven’t told anyone. At least, not yet.
Now, having thrown THOSE people under the bus, I will now address the REST of those sales people who DO work hard. The sales people who really DO want to improve and increase their revenue - the ones who hunger for success and eagerly want to know, “How DO you get that 67% increase?”
What I’m talking about today is putting 10% more effort in prospecting. That means increasing your efforts in asking for introductions, meeting with centers of influence, and turning association meetings into new suspects. It does NOT mean you have to cold-call more; so, go ahead and eliminate THAT objection from your thinking.
Now, with only a few minutes to work with, I will keep this very simple.
Actually, the steps for improving really ARE simple; they just take consistent and persistent application. You don’t have to invent a whole new way of doing things, you just need to improve on the things you are already doing by just 10%. Here is the list of things you need to improve:
- EFFORT: 10% more effort will result in 10 more appointments - even if you DON’T improve your skills.
- PHONE SKILLS: Improve your phone skills by 10% and convert just 10% more contacts to appointments.
- QUALIFYING SKILLS: Improve your qualifying skills by 10% and now you pick up 10% more opportunities.
- CONVERSION RATES – Even if you simply maintain your current conversion of opportunities to presentations and maintain your current closing ratio, you will increase your results simply because you’ve added more to your pipeline dramatically over 12 months.
- INCREASE AVERAGE SALE – Increase your revenue per sale by 10%. Instead of $10,000 deals, get $11,0000 deals. Now, don’t complain about price sensitivity. Now is the time to ask yourself: Are you a professional or a low cost provider?
Let me finish with a quick clarification about effort because I have heard the protests before. I want to address two things:
1) GETTING NAMES: Once again, I’m not talking about cold-calling. I don’t care how you get the names. You still have to pick up the phone and call them. Just increase your effort to get names.
2) “I DON’T HAVE TIME” MYTH: I want to eliminate the “I don’t have time” myth. We all know that if you attempt to call ten people a day, you will not talk to 8 of them. So… the question becomes, “How long does it take you to NOT talk to 8 people?” And the answer is…?
I guarantee you that if you increase your effort, improve your skills, and increase your average size deal, you WILL end up with a significant multiple of 10% improvement.
If you want to discuss this or any other questions you have about selling, Take a moment and leave a comment. Or, better yet, call us - 877.635.5371.
In the meantime, here are some additional resources:
− Developing Your Success Formula Worksheet
− Improve prospecting by phone - The 8-Step Process Worksheet
− The Best Prospecting Book Ever Written
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