Basic Sales Stuff 101
It’s time to up your Sales! It’s time to grow revenue. How do you do that? Well, you sell, sell, sell and when you’re done… just go out and sell. Here are seven little tidbits guaranteed to help improve your top line.
- Butt On The Line – Someone in your company must have a target on their back with their butt on the line to deliver revenue. Great companies have a revenue engine. People who have multiple responsibilities including sales can always find someplace to hide that’s easier than generating revenue. Get a focused revenue minder (see this post on the subject).
- Activity – Nothing beats activity. Sales is a funnel in which every type of sale has its metrics. If a salesperson tries to contact 1000 decision makers, they will reach X%. The more calls, the larger the number reached, the more sales. There is no substitute for activity. More activity equals more sales…. period! It’s mathematics.
- Discount Authority – Nobody working directly with a customer should have discount authority even if it is the CEO. In the heat of battle, with your ego on the line, a person will buy… that is discount a “list price” deal. Everyone in your company needs a higher authority excuse, a cooling off period, and a person to approve discounts. That means that if you’re the CEO, you need to appoint someone to approve your discounts (see post).
- Territory Economic Assessment – The more the staff in the local McDonalds’ look like they walked out of a McDonald’s commercial (like the picture above) the worse the economy. The more they look like the cast of Breaking Bad, the better the economy. In other words, if you see an Orange-tinged billionaire working the counter, the economy in this area is weak.
- Lumpy Mail – Senior executives don’t take cold calls anymore. Your emails are now less effective than junk snail mail. Trying to get to a decision maker is more difficult than crossing the US, Mexican border after the wall that isn’t going to built is built. Want to break through the wall? Try lumpy mail. Send something in the mail that’s bigger than paper and guaranteed to get someone’s attention. Mr. Cranky sends cans of WhoopAss. I guarantee you that people open, and appreciate WhoopAss and while not all of them wind up being customers, over 90% wind up responding (Example: The great, reclusive, Fake Grimlock was lured out of his alias persona to receive his can of WhoopAss).
- Qualify, Qualify, Qualify – Define your pipeline. What’s the difference between a suspect and a prospect? Who’s responsible for producing suspects to salespeople? What qualifies a person as a prospect? Questions you should have answered: Budget, Time Frame, Decision Process, What do you need to prove to get the deal. If you can’t list the customer’s answers to these questions you have a suspect… not a prospect (see this post).
- Movement – If a deal is stuck too long in the same stage of the pipeline with no forward movement, it’s not a prospect. Don’t fool yourself into a false sense of hope because your bloated, unfiltered pipeline is so large. Deals that don’t move aren’t prospective deals they’re pipeline spam (empty calories that don’t provide nutritional value to your pipeline). As an example, if it’s been 3 weeks since your needs analysis call with no movement of the prospect to a demonstration… this is probably not a prospect. Every company has different norms for timeframes. What are yours? Kick out the stuck deals from your pipeline.
- And Qualify Again – You want to be first place or last place for each deal in which you compete. It takes as much resource to come in second as it does to win. While you’re competing to be second your not focusing on the deal that you should be winning and are in danger of coming in second. Find the reason you’re not going to win a deal and drop the lead as early as possible.
Want to kick around ideas that will grow your revenue and build your business? Schedule a complimentary 1 on 1 coaching session and I just may hand you your own personal lumpy mail can of WhoopAss. Press the button to schedule an online session.Schedule a 1-on-1