In the previous part of this article on sales management, we talked about the art of sourcing leads, asking questions and the importance of pitching. In the second part we will go through getting the best price, closing deals, maintaining good relationships with clients ,staying motivated, and consistently improving your performance.
#4. Getting the best price
Price is a kind of illusion. In business, there are no good or bad prices. Almost everything depends on whether or not you build enough recognition of values. If your prospective client understands the value of your offer, you should have no issues with getting a good price.
Of course, genuine budget issues do happen. If you negotiate a price with startup companies or with businesses that go through difficulties then you need to adjust your price to close a deal. However, the number one way to get the best price is to always focus on emphasizing the value of your proposition in your customer’s mind.
#5. Closing deals
To close a deal, which is to sell someone something, you need to gain their trust. They also need to like you (at least a bit!) Gain your prospective customer’s trust and sympathy by acting professionally, building the value of your proposition, and always being prepared to handle objections.
You can close a deal only after you have highlighted values in a prospective customer’s mind, handled their objections, and simply ASKED for the sale.
#6. Maintaining good relationships
Closing a deal should always be the beginning of a relationship with your client – not the end! The reality is, however, that a lot of sales professionals treat it as a final step – a huge mistake to make. It is so much easier to make repeat sales and do business with your existing customers than to find a new one.
Plus it is so easy to build and maintain good relationships!
You could call your clients on a monthly basis to have a chat about their current challenges, include them in your company newsletter, or invite them for a dinner and a nice glass of wine. Clients are the essence of every business.
Our relationship with clients depends on how well we understand them, their business and their current needs. A strong client relationship also requires a value-driven proposal, effective pitch, and successful sales and marketing strategies.
#7. Staying motivated and constantly improving performance
Sales is challenging. To get a deal, to get one YES, you will have to first face 10, 20 or even 100 NOs! Due to these challenges, it is essential to know how to motivate yourself, manage your emotions, and increase your productivity.
The best motivation comes from self-awareness. Why do you do what you do? Why is it important for you?
If you know that a sales career will increase your earnings, or, as in my case, teach you skills to run your business more effectively, your motivation will be permanent. And durable.
You might experience days or even longer periods of doubts and negative emotions anyway. Nevertheless, knowing the important reason you do your sales job is vital and this awareness will definitely help you to reach your goals.
Creating a daily routine can also be a very empowering source of motivation: meditation, listening to music, watching powerful videos or reading a chapter of a good book. I start every day with my ‘super hour of power’ when I pray, meditate, plan my day and prepare mentally for challenges.
I have my secret mantras to use when things go wrong, and I regularly look after my habits and pattern of thinking. If you are prepared for difficulties and can accept hurdles then, often, there are no difficulties or hurdles!
There is just pure performance. You simply realize your plan. Get things done.
The best way to constantly improve your performance is to measure it!
If you can’t measure it, you can’t manage it, as Peter Drucker, a management expert stated. Set up and control your daily KPIs such as the number of calls made, the length of your calls and how many offers you send every day. Check how much time you waste on distractions such as browsing social media or opening mobile notifications and eliminate it.
Time is the only resource we have that cannot be extended, accumulated or multiplied. So managing your time productively is a key to excellent sales performance.
Selling is like walking with your potential customer through a long corridor. There will be a lot of doors opening unexpectedly to get your customer out of the corridor. These doors are his or her objections and the mistakes you make during your pitch. Your role is to close all those doors, reach the end of the corridor with your customer, and close the deal.
Part one of the article about earning money can be found here.