As a small business, it’s crucial that you have a sales team in place who go above and beyond their call of duty to generate as much revenue as possible for your company. Unlike the large giants who can afford to plow large amounts of cash into marketing and promoting their brand, small businesses need to be more creative in how they sell their products and services.
Whether you’re new to the business world, or you have years of experience in managing a company, every small business owner needs to spend time getting a better understanding of how the sales process works, and what types of sales skills you need to close a deal. With some practice, not only will you and your team become better at selling, but you will notice more interest in your brand from consumers. Here are some useful sales tips that every small business owner should take on board.
Understand the Sales Cycle
The first step that you need to take to become a more effective salesperson is to refresh your understanding of how the sales cycle works. It can be a lot less intimidating and more manageable when you view it like a standard process that includes recurring activities, rather than leaping into the unknown each time you begin the process. Getting to grips with the seven stages of the sales cycle, which start with prospecting and go through to asking for referrals from new customers, will enable you to systemize the process.
After you have gained a sound knowledge of the sales cycle, the next stage is to make it more targeted and shorter. No one wants their sales cycle to go on and on without ever being able to close the deal, so knowing how to be in control of the sales cycle and becoming more efficient at each stage will help you close sales much faster.
Create the Perfect Elevator Pitch
A useful tool that you need to have as a salesperson is a great elevator pitch. The more comfortable and confident you are with delivering a summary of what your business is all about, as well as the products and services you have to offer, the better you will be at closing deals. All of this applies to cold calls, sales meetings, and everyday networking.
While writing the perfect elevator pitch may take some time and effort, you will be thankful in the long run, especially when it comes to attracting more consumers to your brand and closing a sale. Whether you’re engaging with a customer in person, attending a networking event, or are in a meeting with potential clients, anyone who is interested in investing in your company needs to be hooked in from the get go, so make sure that you test out your elevator pitch so you can be confident it’s second to none.
Write a Unique Selling Proposition
Another useful tool that can carry you far in sales is your unique selling proposition (otherwise known as USP). A USP is a statement that’s designed to outline how your company, products, and services stand out from the crowd. With consumers having so much choice to pick from on the market, it will be up to you to show that you have something that others in your field don’t possess.
Your unique selling proposition can become the cornerstone of your sales pitch which pinpoints your company as the better choice, as well as explaining why consumers should pick you. The art of persuasion can come in handy here, especially if you are having a hard time trying to win consumers over.
Overcome Sales Objectives
One common hurdle that you may encounter in the selling process is dealing with sales objectives. To overcome this challenge, you will need to have a plan in place that will help you establish sales objectives, meaning you can build the best arguments to get through them.
While each sales process may differ slightly, there are various common sales objections that you will notice over and over again. Therefore, using the correct techniques at the right time can help when it comes to closing a sale.
Negotiate Successfully
Negotiation is regarded as a key aspect of the sales process. If you’re able to negotiate effectively, this can be useful in all sorts of business scenarios. Once you have mastered the art of negotiating, not only will you be able to avoid sales projections, but you can make your consumers feel like they have had their voice listened to, increasing the chances of closing a sale with terms that suit everyone who is involved.
If you don’t have the confidence to negotiate, you may find it difficult when closing a sale. To help you on your way, it’s best to begin with knowing what you want to get. Having a goal in mind can give you the drive and determination to strive for success, so tackling the easiest issues at the beginning, and having a compromise in mind will mean you are on the right path towards a fantastic negotiation.
Understand Your Audience
If you haven’t done research into who your target demographic is, it’s likely that you won’t close many deals. It’s important that you have genuine and authentic conversations with those who are buying from your brand, helping you to figure out what their needs and concerns are. Selling is all about identifying and satisfying the needs of your consumers, so if you aren’t delivering an excellent service, it’s likely that the very people who you are targeting will go elsewhere. There’s also a fine line between being charming and being overpowering. The last thing you want is to turn consumers off from your business, so being gentle with your approach and knowing the right strategies are what will help you secure deals.
Undergo Training
While you may be the type of person who can learn all there is to know about sales online, others may prefer to undergo sales training in person that can give them more of an insight into the key skills they need to close a deal. Regardless of your preferred learning method, there is a sales training course available for everyone.
Even if you employ a team of people who are experts in selling, it’s always an advantage to have some level of sales training yourself as the head of the business. If you have noticed a decline in sales, you will want to understand why from the get go, so having a basic understanding on how the sales process works will mean you can spot any flaws in your sales strategies which can be rectified immediately.
All in all, an effective salesperson needs to have the confidence, drive, and motivation to succeed. Whether you are at the forefront of selling, or you employ a team to generate sales, everyone in your business can benefit from sales training.