July 25, 2011 by Bob Hill
Posted in: closing, economy, In this week's e-newsletter - Sales & Marketing, Industry Spotlight - Sales & Marketing, Latest News & Views - Sales & Marketing, sales management, Sales meeting ideas, training
Here are two strategies top managers use to keep profits soaring when prospects simply aren’t biting:
1. Compensate for sagging closing rates by winning more sales, faster. Three keys to accomplishing that:
- Have reps schedule as many meetings as possible in a single region each day, to cut down on travel time.
- Use email, mobile or digital resources to handle paperwork, so reps cut down the number of trips they need to make to close each sale.
- Make sure salespeople have a set agenda going into every sales call, so they achieve what’s necessary and keep the process moving forward.
2. Get more from existing buyers. Right now, loyal buyers are one
of your company’s best assets. Leverage that by:
- Offering customers incentives in return for referring new prospects.
- Increasing the average volume per sale by identifying upsell and
- Increasing the frequency of purchase by having salespeople increase how often they follow up with buyers.
- Work with IT to send an automatic email reminder to buyers whenever it’s time for them to buy again or renew.