How To Increase Your Sales In 3 Easy Steps
How do you fit 4 elephants into a car? Easy, just put 2 in the front and 2 in the back. The plan is easy but the execution is hard.
How to do you grow sales? There are 3 ways:
1. Increase the number of your proposals
2. Close a higher percentage of your proposals
3. Increase the average value of your proposals
Once again, the plan to increase sales is easy but the execution is hard. But does it really have to be hard? What if there was a way to do all 3 with one activity? By effectively building and maintaining your business network you can grow your sales. Best of all, with the right approach and skills, it doesn't have to be hard.
1. Increase the number of your proposals - If you increase the number of outstanding proposals then there will be more closed sales. That's easy but how do you get more proposals. Let's go further back in the sales process. Before a proposal was developed you identified a sales opportunity...and before that, you had a meeting to discuss the client's needs. So it stands to reason that if you have more meetings with prospects you will increase the number of proposals.
How do we get more meetings? Through business networking. Target new contacts, actively solicit referrals, and attract interested prospects. Each of these activities can be optimized if you have the right business networking goals, plans, and actions. It isn't about handing your business card to as many people as possible.
2. Close a higher percentage of your proposals - Simply, if you have 10 outstanding proposals then closing 7 deals results in more sales than if you only close 6. Easy math but how can you close a higher percentage of your proposals?
Trust equals business. The people that trust you and your company will award their business to you more often than the people who do not have the same level of trust. Business networking, if done properly, will build trust. How? By understanding your prospect's business and asking the right questions. By communicating your intent, integrity, capabilities, and results to create a foundation for trust.
3. Increase the average value of your proposals - If each of your proposals are worth more in value then they will be worth more when closed. Nothing complicated here. Just find a way to increase the value and you are on your way to more sales success. The trick is how to do it.
Rarely do your proposals include all of your capabilities nor does it include all of the prospect's needs. In order to broaden the scope of a proposal you need to meet and communicate with all of the right people in your prospect's company. That rarely happens. Business networking can expand your understanding of all of the prospect's needs and communicate more of your capabilities. With this approach you will meet with gatekeepers, users, budget-holders, senior sponsors, and other influencers at the prospect company. Watch the value of your proposals increase!