FW: ~Sales Closing~ Focus is low payback
Jane Cournan
Good Advice-
From: setappo...@aweber.com [mailto:setappo...@aweber.com] On Behalf Of ~Scott Channell~
Sent: Thursday, March 17, 2011 10:20 AM
To: jane
Subject: ~Sales Closing~ Focus is low payback
A focus on sales closing actually results in fewer closes.
Focus on "closing" and convert fewer opportunities to new
accounts. Focus on two things and close more.
by Scott Channell
http://www.settingsalesappointments.com
http://www.settingsalesappointments-club.com
Top salespeople don't pay a lot of attention to "closing."
For most companies and individuals the issue is not closing.
Issue #1 is that you spend far too much time and financial
resources talking, marketing and selling to prospects that you
shouldn't be wasting three seconds or two cents on.
Issue #2 is that when you do speak or meet with qualified
decision-makers you are typically so focused on the "close" that
you skip all the necessary preliminary foundation steps necessary
to close.
Some examples...
Typically with companies I work with I do a client analysis. They
give me a list of their top accounts and I do an analysis of
accounts and build a profile by SIC code, revenue range, sales
volume of their typical desired account. I then run counts and
provide lists of the companies that fit that profile in the
geographic area they are selling in.
It is highly probable that your future great accounts will tend to
look like your current great accounts. You have a choice. Invest
sales efforts among that group of targets that looks like your
current best accounts... or don't
It is typical... let me repeat, it is typical... that companies
discover two things when this analysis is done. First, that 60%-70%
of their prospecting efforts are focused on lower probability
targets... that fall well outside of the profile of what a good
account tends to look like. Second, that the group of prospects
that look like their current good accounts are usually large enough
to keep them busy for a minimum of six months or a year.
Ah, but some of you might be thinking.... "I'm not going to limit
myself," "I don't want to miss anybody" or "You never know. I have
some great accounts that wouldn't be on that list."
If that is you, ask yourself these questions....
Why am I approaching companies that typically buy less when I can
easily identify and approach companies that typically buy more?
Why am I spending 50%, 60%, 70% or more of my time trying to sell
to lower probability targets when I could spend the next six months
or a year selling to much higher probability targets?
What can I do to increase my conversion ratio?
Rhodes Scholars of selling... if they have choice of marketing and
selling into a group of suspects that look a lot like their best
accounts... wouldn't make a conscious decision to sell into a lower
probability group.
For many individuals and companies, that situation creeps up on
you.
For the Seminar-In-A-Box, membersite, book and CD sets
which explain all the specific strategies Scott used to
set more than 2,000 "C" level appointments"
http://www.settingsalesappointments.com/productslist.htm
The 2nd issue is that when you do show up to sell, you skip steps
in the sales process and don't lay a proper foundation for the
prospect to say "yes." You leap at the quick sale. You pitch too
early. You don't get information you need. You don't ask good
questions or good follow-up questions. You don't communicate value.
You don't communicate credibility. You don't do the things
necessary to build trust and respect.
You pitch, pitch, pitch and close, close, close... and wonder why
your conversion rates, average sale size and profit margins are too
low.
When you prospect to the right companies...
gain access to the top decision-makers at those companies...
and lay the proper foundation for a sale...
...sales happen.
Your emphasis on "closing" isn't going to help you if you are
prospecting the wrong companies, meeting with lower-level
decision-makers and short-circuiting an effective sales process
when you show up to sell.
So focus on two things to close more.
1. Make a conscious effort to kick lower probability
prospects out of your pipeline. Don't contort yourself
to keep it alive. Kill it quick. Time not spent on people
unlikely to buy can be spent on those more likely to buy
or on activity that will lead to you spending time with
high-probability buyers.
2. A sale is only as strong as the foundation it is built
on. Do the right things when you show up. You most influence
your closing ratio by the things you do on the front end
of your process. So choreograph your "first meetings."
Prepare your questions. Determine how you will communicate
value and then do it. Don't move to a ~next step~ until
it is time, and always focus on reaching the best acceptable
next step at every stage.
Increases in conversion usually come from improvement in
those two areas. Not from focusing on closing.
If you need help spending more time with qualified high
probability prospects or improving conversion, contact me
at 978-927-5099 to discuss your situation and some options.
Or, check out these resources.
Join the Setting Appointments "Club" membersite.
A-Z start-up to advanced strategies. New lesson every
month. Your questions answered. 45 day satisfaction guarantee.
Best deal: One year signup gets you the seminar-in-a-box shipped
to you right now.
Check it out here...
http://www.settingsalesappointments-club.com/join1/
Sign-up here...
http://settingsalesappointments-club.com/enroll/
For the Seminar-In-A-Box, book and CD sets which explain
all the specific strategies Scott used to set more than
2,000 "C" level appointments"
http://www.settingsalesappointments.com/productslist.htm
For personal coaching options
http://www.settingsalesappointments.com/coaching.htm
Training options for your team. Speaking. Distance learning.
http://www.settingsalesappointments.com/dlearning.htm
Best wishes for good selling,
Scott Channell
http://www.settingsalesappointments.com
http://www.settingsalesappointments-club.com
copyright 2011 scott channell
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Finding Business, 39 Dodge St. #288, Beverly, MA 01915, USA
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