According to a study by Greenberg & Greenberg, 20% of top sales reps close 80% of all deals . This means that 80% of a sales force fights over the remaining 20%. This discovery leads us to wonder how significant the revenue increase might be if 100% of a sales team was enabled to sell at their maximum potential. So what stands in the way of 80% of the sales force? How can they sell better and close more deals? In order to close deals and drive revenue, sales reps must ensure they bring value during a sales pitch. We have identified 5 ways to foolproof your sales pitch and snag that coveted deal.
Ditch The Pitch
Our first key step is ironically enough “ditching the pitch”. Great sales conversations lead to more sales deals. Customers want to hear stories that resonate, not listen to a sales pitch. Within the first year, sales reps often fail to make quota more than 50% of the time. This could possibly be due to a sales rep’s use of ‘traditional selling techniques’ that are now viewed as rigid and redundant. Instead of delivering a sales pitch, have a conversation. This will build a better rapport with prospects and determine exactly what they are looking for in a partnership with you.
Know Your Buyer
It is important to make every customer feel special and important. In an age where the buyer is being bombarded with immeasurable messaging, it has become imperative that the seller cuts through the clutter. Be informed. Know exactly what is happening in your customer’s industry. According to a Forrester Buyer Insight study, only 13% of executive buyers believe that a salesperson can clearly show they understand their business issues and articulate a way to solve them. Set yourself apart from your competitors by familiarizing yourself with your customers’ needs and their industry’s latest market trends. By doing so, a salesperson will demonstrate that they care enough to tailor their sales conversation to the specific buyer and have a strong understanding on the prospect’s business needs.
Map The ROI
Every customer needs to be sure that a solution they invest in will be well worth the cost. A comprehensive analysis of the effect your solution will have on the client’s business will go a long way towards establishing a deeper connection. Be it a coffee or a car, the customer always wants to be aware of the value proposition they are getting for investing in your product.
Every person on this planet is on a constant journey to eradicate challenges and make their lives simpler. Customers will be greatly interested in your product if you present their challenge and then display how your product will solve it. Specific case studies that present how your product made the lives of people simpler, sleeker, and better by negating or modifying their challenges will greatly heighten the chance of winning the deal.
Create The Vision
Keep the bigger picture in mind while attempting to persuade a prospect to partner with you and your solution. Simon Sinek, the author credited with popularizing ‘the Golden Circle’, rightly said, “People don’t buy what you do; they buy why you do it and what you do simply proves what you believe.”
Customers have to connect with the brand values and vision to feel like they should associate themselves or their brand with yours. Stories are a great way to strike a connection, and if combined with facts and figures, it will become a memorable and enjoyable experience for any customer. At the end of it, the customer should be engaged and invested enough to want to stay around you and your product for longer than just a one- time purchase.
An award winning sales presentation trainer, Patricia Fripp, stated, “You don’t close a sale; you open a relationship if you want to build a long-term, successful enterprise.” To successfully build strong, sturdy relationships, follow closely to these five steps and close deals like champions!
To learn more about improving your sales effectiveness and increasing sales, check out our blog on how to make customers the center of every sales conversation.
This article originally appeared on the Showpad Blog.