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Building a Dynamic Sales Machine

Selling is perhaps the greatest skill of all time. The ability to persuade, communicate and influence has been the basis of personal and financial success throughout the ages.

Brian Tracy

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Learning to sell well opens doors for all levels of people within an organisation; from CEO to the sales team, making it possible for a business to not only excel, but also thrive. Thousands of articles and books have been written on selling, and almost every one of them contains one or more nuggets of wisdom. Some are classics that convey ideas, techniques and strategies that salespeople can use in almost any market.

Three imperatives for building superior sales performance:

Sales Imperative #1

The Iron-Triangle of Selling

There are three steps to sales success that have stood the test of time: prospecting, presenting and closing. They form the three points of the “iron triangle” of selling.

Preparatory Phase
To prospect effectively, you and your sales team must first clearly determine what it is your company is selling. Most people only define their product or service in terms of its qualities, characteristics, features and the way it is produced, distributed and delivered to the customer.

However, the most important part of your product description is what the product does for your customer. People don’t buy products or services; they buy the results (or ’benefits’) they expect to experience by using your product or service. You must therefore determine what your product or service really does for your customers. Find out what makes your product superior to other products or services. Only then are you ready to tackle the three key steps to sales success:

1. Prospecting
Of all the prospects in your market, which can benefit most from what your product does better than the competition? The rule is that although there are many prospects, they aren’t all your prospects. You must be specific about which prospects you can sell your most important benefits to the most effectively.

2. Presenting
The ability to design and give a good sales presentation will determine your success as much as any other factor. Based on more than 30 years of experience, I can say every sales presentation could use some improvement.

A good presentation shows prospects that your product or service is the best choice for them. After highlighting a feature of your product or service that’s relevant to the customer, ask a question to invite feedback, such as: “Is this something you would use in your situation?” If you’ve given a good presentation, the prospect should fully understand the offering and be ready to make a buying decision. If you don’t get this reaction at the end of your presentation, rework your presentation until it is so overwhelmingly conclusive that the sale almost falls into your hand at the end.

3. Closing
It is absolutely amazing how many sales are lost because the salesperson fails to follow up and ask for the order at the end of the sales conversation. The best way to close a sale is to set up the closing question with the words: “Do you have any questions or concerns that I haven’t covered so far?”

If the prospect says no, you can then ask for the sale: “Well, then, why don’t you give it a try?” If the prospect is unsure, say: “I really think this would be ideal for you, based on what you’ve told me. Why don’t you give it a try?” You will be amazed at how many people are on the verge of buying and simply need an invitation.

Sales Imperative #2

Understand How The Game Has Changed

In recent years, the field of selling has changed dramatically. During the boom of the 1990s, individuals and organisations were producing and selling products and services hand over fist. There was demand and an enormous amount of money chasing after products and services in almost every field.

Many salespeople who began their careers in the early ’90s never learned how to sell because it wasn’t necessary. It was a seller’s market. As a result, most salespeople became professional order-takers. They followed up on leads, collected cheques and came back to the office feeling like heroes. In today’s uncertain economic landscape, there are more sellers than buyers. There are more companies offering products and services than there are people with money to buy them. Times may be tough, but the fact is that cycles and trends are a natural part of life. Markets go up, and markets go down. This is normal, and we need to adjust to it when it happens.

Sales Imperative #3

Being In The Top 10%

1. Learn to Focus
To succeed in selling today, your sales team must focus more narrowly on the few prospects who are the most likely to buy what you sell. You have to define your ideal prospects more clearly and separate high probability prospects from low probability prospects.

But before you’re able to focus your selling, you must prepare. The more thoroughly prepared you are, the more and better sales you will make. There are three steps to preparation. First, do some pre-call research. Learn everything you possibly can about your prospects before you call on them for the first time. This will help with building your credibility. Next, set your pre-call objectives. Know your goals, and write down any questions you need to ask.

Lastly, perform post-call analysis. Always write down every detail discussed in the sales call immediately after leaving the prospect; don’t rely on your memory or the sales report forms you fill out at the end of the day. The next time you visit this prospect, review your detailed notes from earlier conversations. This three-step process of preparation will thoroughly equip you with the tools necessary to build high levels of credibility and trust with your prospect throughout the sales process.

2. Concentrate on your best prospects
Once your team has identified your most important prospects it’s time to dedicate all your energy to the top 20%of prospects in your market who account for 80%of your sales. In the 1990s, it was easy to hit prospects all over the place without really trying. But today the market has changed, and to win you must concentrate your energies carefully on those few customers who can make a significant difference in achieving your sales quota.

3. Commit to forward action
To succeed in sales today you and your team must be in continuous motion, always looking for new and better prospects, both in your traditional markets and in markets you may not have thought of in the past. The more approaches you try, the greater the probability you’ll try the right thing at the right time to make the kind of sale you really want to.

For this reason, nothing is more important in a tough market than your commitment to continuous forward action, to calling on more and better people every single working day. You should spend about 80% of your time prospecting until you have so many customers that you don’t have enough time to handle more.

If your sales force (or career if you’re a sales person) is going more slowly than you would like at the moment, step on the accelerator of your own potential and rev up the number of people that you see and talk to on a daily and weekly basis. The good news is, the faster you move, the more energy you will have. The more energy you have, the more people you will see and the more experience you will get. And the more experience you get, the better you will become at selling when you finally come across the ideal prospect for your product or service.

Because of this action orientation, you’ll make more sales and, as a result, get more positive feedback. This will motivate you to make even more calls on even more prospects and close even more sales in the weeks and months ahead. Over the years, good times come and go. The economy booms, and the economy recedes. But the sales organisations that practice these six essential principles day in and day out, no matter what may be happening around them, will always find success. You can do the same.

Brian Tracy is the most-listened-to audio author on personal and business success in the world. His talks and seminars on leadership, sales, managerial effectiveness and business strategy provide people with proven ideas and strategies that they can implement immediately for improved results.

Techniques

Why Does Good Client Service Matter For E-commerce?

Remember, bad service is remembered for much longer than any products that have been purchased. And if you provide a positive experience, you will have a loyal customer base and can use the insights gathered from interactions.

Clarissa Fleischer

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You might be scratching your head a little at the notion of an e-commerce store (yes, an online store) worrying too much about client service. After all, customers are using your website to purchase goods and avoid interacting with salespeople, right? But client service, or customer support as it is also known, is vital to running a successful e-commerce business. This is because consumers still expect the same level of care as they would from a brick-and-mortar store.

You will need to devise an e-commerce digital marketing strategy that can enhance your client service offerings. For example, you’ll need to put together an e-commerce email marketing customer base so that you can easily send out promotional emails, newsletters and reply to complaints. Your e-commerce website design should focus on the needs of the customer, so be sure to invest in a design that caters for them. Read on to find out why good client service is vital for e-commerce.

You can sell hundreds of products…

but bad service will always be remembered. For e-commerce in South Africa and around the world, client service is one of the major touchpoints that you have with your clients, meaning that you need to provide the best experience possible.

Online shoppers will likely have no physical contact with your brand, making client service the best chance to show customers that you truly care about them. Remember that customers want more than just a place to shop. They want an e-commerce business that is going to provide them with information that is relevant and help that truly solves a problem. You need a dedicated email address, Twitter handle, Facebook page or a live chat option where clients can contact you easily and efficiently.

Trust builds client relationships

By providing good customer support, you will be building trust between your customers and your brand. For example, if you provide personalised emails with product recommendations to loyal customers, they will see that you are taking note of their preferences and value their input.

As an e-commerce brand, you need to do more than brick-and-mortar stores to generate trust, which is where client service comes into play. You should look into building a customer support strategy that allows you to meet consumers at every touchpoint of their journey. This will show customers that you are a brand that is taking note of what they need. The reason for building trust is that, in the online shopping world, customers do not have to go very far (just a few clicks, in reality) to find another store with another shopping cart to fill. Focusing on what your client needs is a sure-fire way to improve consumer trust in your brand.

You will gain valuable insight

Client service is not only good for the customer, but can be good for your business too. You can gain valuable insight into the wants and needs of your customers as well as issues that you might not have known existed in your business.

Feedback that is constructive can help you to make changes in your business to improve client service and will allow you to introduce new systems for dealing with complaints and queries. If customers are repeatedly asking you if you will be offering new or different products or if they are asking about specific products that your competitors offer, you can use this information to meet their needs and keep your site up-to-date with trends and products. Even transactional emails can be helpful, as these will allow you to improve or enhance your checkout process.

It can make (or break) your brand reputation

Reputation is important, whether you are a physical store or an online one. And in the age of social media, can you really afford to offer bad client service? Today, people take to Facebook, Twitter and even Instagram to share their experiences with brands, whether their experience was positive or negative.

If your customer support is bad or inconsistent, customers will likely head to your Facebook business page or write something on their own profile for the world to see. And how you deal with this is also a part of your customer support. Be sure to always strive to provide customers with a positive interaction no matter the situation. Even if the customer is not always right, they should never have negative connotations with your brand.

Clients come first

Client service is one of the most important aspects of any e-commerce business. While you might think that all your consumers want is a place to shop without having to deal with crowds (an introvert’s dream), they expect the same level of client service they would receive in an actual store.

Remember, bad service is remembered for much longer than any products that have been purchased. And if you provide a positive experience, you will have a loyal customer base and can use the insights gathered from interactions.

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Techniques

3 Ecommerce Trends You Must Prepare For In 2019

The ecommerce explosion continues, but there’s also an element of evolution. To take your ecommerce presence to the next level, take advantage of these emerging trends.

Tiffany Delmore

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Retail ecommerce sales continue trending upward, and consumer confidence has reached an 18-year high. Conditions are ripe for brands with an established ecommerce presence, but that doesn’t mean business as usual will always suffice. Instead, the organisations that excel will be those with a forward-thinking approach to ecommerce.

Ecommerce is thriving because enough companies have kept up with changing technology and consumer expectations. For example, as mobile purchases increased in popularity, ecommerce retailers began specifically catering to this shopping avenue. Mobile purchases constituted the majority of ecommerce sales in 2016, and eMarketer estimates that 72.9 percent of online purchases will be made on a mobile device by 2021.

Device preferences aren’t the only thing in transition – search methods are also quickly evolving as technology becomes more sophisticated. According to predictions from ComScore, 50 percent of all search queries will be made via voice by 2020. And it’s likely that more people will be audio searching for buyable goods soon: Devices such as Google Home Hub and Amazon Echo Show are integrating voice and image search so that shoppers can see what they’re asking to buy. Ecommerce retailers that can’t cater to a voice-activated future (Read: optimise for natural language search) will quickly lose ground to their rivals.

Ecommerce companies are also partnering with payment processors to make online purchases as frictionless as possible. By offering payment options such as PayPal, Venmo and Amazon Pay at checkout, customers can leave their credit cards in their wallets, so buying becomes even easier.

No matter how mature your ecommerce presence might be now, you need to keep looking ahead to ensure future success. To elevate your ecommerce efforts in 2019, take advantage of these three emerging trends.

1. Sell your wares on social

Effective marketing is about optimising your messaging to appeal to your target audience, but messaging won’t matter if the audience never sees it. Meeting your audience members where they spend their time is crucial, and here’s a tip: If your customer base is online, it’s on social media one-third of that time.

If you’re not selling on social media, you’re missing a huge opportunity. Most social media platforms now support integrated buy buttons that transfer users to your website to complete a sale, and apps such as Instagram and Snapchat offer shoppable stories, too.

Retail brands like Jordan have also capitalised on event-related social commerce opportunities. For the 2018 NBA All-Star Game, Jordan partnered with Snapchat to offer access codes to an exclusive sale of the special edition Air Jordan III Tinker shoe. Users could only receive a code if they were near the Staples Center in Los Angeles, and the sneakers sold out in 23 minutes.

Related: 6 Steps To Building A Million-Dollar Ecommerce Site In 60 Days

2. Remix the buyer’s reality

Mixed reality technologies have yet to see mainstream adoption, but they have made huge strides in that direction. Vertebrae’s launch of its AR/VR ecommerce platform Axis aims to prove that the tech is much more than a novelty, and IKEA’s Place app provides shoppers with an AR-powered glimpse into what IKEA products would look like in their own homes.

“Augmented reality and virtual reality will be a total game changer for retail in the same way as the internet. Only this time, much faster,” says Michael Valdsgaard, leader of digital transformation at Inter IKEA Systems.

AR might not be everywhere yet, but ecommerce retailers that successfully incorporate AR capabilities into the shopping experience stand to gain a significant advantage over their competitors.

3. Strengthen your Amazon strategy

Amazon has established a pre-eminent place in the ecommerce ecosystem, and Salmon’s “Future Shopper Report” indicates that 68 percent of American shoppers head straight to the site when browsing for products. What’s more, even when customers plan to buy from another site or store, 80 percent read Amazon reviews and check prices there.

Clearly, mastering Amazon is critical. Trevor George, founder and CEO of Amazon marketing agency Blue Wheel Media, says that the only way for sellers to win on the platform is through ads: “The future of Amazon is advertising, and if a brand wants to make money now and into the future, it needs to be able to navigate Amazon’s advertising platforms.”

According to George, that means investing in auto-bidding tools such as Prestozon or Ignite, isolating the right search terms, and incorporating negative keywords so your appliance company isn’t spending money to appear in searches for Easy-Bake Ovens.

The ecommerce boom isn’t waning anytime soon, and capitalising on it requires a thoughtful strategy that keeps your brand ahead of the competition. Keep social commerce, mixed reality shopping and Amazon advertising on your mind through 2019.

Read next: Watch List: 15 SA eCommerce Entrepreneurs Who Have Built Successful Online Businesses

This article was originally posted here on Entrepreneur.com.

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Techniques

How To Get Ready To Sell Your Business – Advice From Marnus Broodryk

If you’re thinking about selling your business, there are some critical steps you need to make first.

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MAKING THE SALE

A successful transaction will mostly boil down to having a solid business with great systems in place that is making decent money and the starting point for these transactions will be financial information.


Some entrepreneurs are ‘starters’, they like to start a business, get it off the ground and then flog it. Others are ‘growers’, they look for existing businesses and have the ability to grow them beyond their original value. Both will probably get to the same end point: Selling the business.

But entrepreneurs are often misled when it comes to the sale. They have put everything into the business and it is worth a huge amount to them because of it. But buyers are seldom willing to match the price, because what is being sold, and what is being bought, are not the same thing. Sellers see the emotional and financial investments they’ve put in; the buyer mostly looks at one thing: Profit.

Effort does not equal profit. The balance is out.

Related: 20 South African Side-Hustles You Can Start This Weekend

Prepare for the challenges of selling

Once you get to market you will soon realise that there are, unfortunately, fewer buyers than you’d like. Unlike listed companies, you can’t sell shares easily and quickly on a public platform. Instead, you need to find an interested individual or business, many of whom just aren’t buying what you’re selling.

Some of them are, but that doesn’t guarantee a sale. Most SMEs must put their faith in a cash deal, since banks will never finance anyone wanting to buy them. In reality, this means that you may have a genuinely interested buyer for your business, who won’t be able to get finance for it from the bank. So, after a few months, you’re back to square one. After a few rounds of this cycle many entrepreneurs will just sell out of desperation, forgetting what the business could actually be worth.

Selling a business can be very emotionally draining and this will be compounded by many people who will waste your time and mess you around. You spent a large portion of your life building this, but others will not see it the same way you do. Ensure that you prepare and mitigate against all of those issues, and have the stomach for the fight.

Always keep the end in mind

If you are looking at exiting your business, it is crucial to allow enough time to prepare yourself for it. Maybe you’re simply tired of your business and you just want to get out, but, because the business is not in a great state at the moment, you’re too fed up to care, and you simply don’t have the energy to fix the issues.

You’re at risk of letting your business go for next to nothing. All the hard work for hardly any reward.

Related: Selling Your Business To Your Business Partner

If you have the end in mind, and prepare for it, it can be a very different, more lucrative story. A successful transaction will mostly boil down to having a solid business with great systems in place that is making decent money and the starting point for these transactions will be financial information. You need to have proper financial records for your business and you need to be able to show the potential buyer how much the business is making and how it is making it. It sounds so elementary, yet most entrepreneurs don’t have financial information when they want to sell their businesses. If you think you may want to sell in the future, make sure you’re keeping solid records now.

If your business’s financials are messy, start cleaning them up at least twelve months before trying to sell your business. Remove all your personal expenses from the business and ensure that all transactions are properly recorded, and that your taxes are up to date and accurate. Work with your accountant to prepare a sales pack with all your financial information, including details of your clients, employees, suppliers, what your strong and weak points are and how the business could grow in the future. It’s at this stage that you can pick up on issues and resolve them before taking your business to the market, making it a much more attractive product.

With some (more) hard work, you will be in a great position to sell your business, you will have serious buyers and the valuation that you deserve for all your hard work. If you don’t, why bother?

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