Our constantly-connected world has led to heightened competition in business and well-empowered consumers with the ability to move themselves through their sales cycle. The old ways of selling are changing, and require sales professionals to remain up-to-date on their sales techniques and philosophies.
Here are the 10 biggest mistakes in sales, provided by sales expert, Grant Cardone:
1. Not selling the solution. Take a benefit-based selling approach, not an offering-based one.
2. Too dependent on the sales presentation. Never get so caught up in your slideshow that you lose the flexibility to adapt to the sales meeting.
3. Not asking the hard questions. Display confidence and honesty by asking the hard questions, like, “How do you feel about our price?”, or, “How do you feel about our terms?”
4. Believing price will solve your clients’ problems. Nearly every buyer will seem obsessed with price and their budget. Despite this, every one of them will pay a higher price if the value is presented.
5. Presenting without the intention to close. Let your customer know that your intention is to get them using your product. If they aren’t ready yet, simply inform them you wanted to share your intention and do so with confidence in your offering.
6. Not asking for the close early enough. Don’t find yourself still presenting long after the buyer as reach a decision. Instead, break your presentation into stages, and ask if the buyer has seen enough information at the end of each stage.
7. Waiting until the end of the presentation to share price. Most sales people are taught to build value, then show the price. This results in a buyer who wonders about the cost throughout your whole presentation. By initiating the price, your buyer can more clearly evaluate your offering as information is presented.
8. Ignoring influencers. Rather than focusing solely on decision-makers, include decision influencers in your meeting, as well. Find out what is important to them and positively influence the decision-maker.
9. Using a free trial to close a deal. Free trials without a timeline or commitment from the customer to invest can equate to cash flow problems and a stalled out sales cycle.
10. Not practicing urgency. Many organizations never insist on closing the deal out of fear of becoming a nuisance. If you truly believe in your product and your company, you must learn to insist on closing deals before they are stolen by competition.
Read the full article, The 10 Biggest Mistakes in Sales, on Entrepreneur.com for more detailed information.
Knowing how to sell to your customers requires having access to the information shared between sales and marketing departments. By referencing customer interactions and campaign responses, sales teams can deliver the right messages in context with the customer’s buying stage. Additionally, features like Guided Sales Processes allow you to configure and enforce the best sales techniques for your organization, backed by analytics. Learn how to close more sales with Microsoft Dynamics CRM.