How To Be Successful at Sales

1. Sales Terminology

First, we must understand key KPIs and indicators that you will be targeted against.

• ROI (Return on Investment): Per each channel & per marketing spending
• Year on Year Growth Variation: Revenue conversion rate, average order, customer lifetime value
• Customer Lifetime Value: Profit/customer value x average number of years kept
• AOV (Annual Order Value): Per each channel & per total
• Conversion Rate: Proportion of visits over buyers per each channel and per total
• Customer Acquisition Cost: How much are you paying to get a customer?
• TNPS (Net Promotor Score): How many customers will recommend you?
• Retention Rate: How many of your customers are willing to continue using your service?
• Net Revenue: How much money are you making?

2. Sales Process

This is what you would be expected to do through your customer interactions.

• Find/Identify: Cross-reference, Proposition, Negotiation, Close the sale
• Identify/Find The Sale: Know your KPIs, Have basic background knowledge, TED: Tell Explain Describe questions, etc.
• Cross Reference: Know your portfolio, Find decision makers, Reiterate findings
• Proposition: Build a proposal, Negotiate terms
• Negotiation: Save money, Shorter contracts, More for less, Start with a higher proposal
• Closing The Sale: Always ask for the sale, Follow-ups, Decision deadline

3. Objection Handling

What objections can you expect from customers when asking for the sale? Always set the customers’ expectations.

• Examples of objections
• Use positive facts, case studies
• Know your knowledge in other areas such as customer service

4. How To Convert Customers

How to help customers convert:

• Help Customers Break Away: Remind them how easy it is to upgrade
• Embracing Labels: Look at market trends, competitor reputations
• Understand Types of Buyers: Focus on bundling techniques
• Highlight Strengths & Admit Shortcomings: List benefits, admit mistakes
• Make Use of Urgency and Scarcity: Show reviews, case studies

5. Reasons For Customer Sale Abandonment

Why would customers abandon the sale?

• 41% found hidden charges at the closing stages
• 8% found there were no contact details should anything go wrong after the sale is completed
• 29% found they had to register before buying
• 10% found the closing stage too lengthy
• 11% found unclear delivery details
• 1% other reasons

To be a good salesperson, we must avoid these where possible.