What are some unique and easy ways to increase sales, if you are a salesperson, you wonder? Well read on and when done create an action plan to increase sales. I’ll explain how to increase sales of services or products with practical examples. First, though, increasing sales can happen in two ways: volume and value. Your employer and businesses in general, prefer and reward increases in both quantity (volume) and quality (value). Of these factors, the former because it spreads the risk of loss thin seeing as is spread across a large customer base, and the latter because, though concentrated in a small base, has higher profit. So here goes. Here are 3 activities to increase sales (that assume your commitment to doing so.)
3 ways how you can increase your sales
- Ask for referrals
- See more prospects
- Increase your closing ratio
Ask for referrals
Always ask for referrals. Ask for referrals from prospects, ask for referrals from clients, ask for referrals whether in B2B or B2C sales. Always ask for referrals. Possibly for fear of being seen as greedy, or fear of antagonizing the customer, or even fear of rejection, most sellers simply don’t ask for referrals. Asking for referrals involves our customer and could be your easiest way for increasing your sales volume and value. Ideally prospects and buyers are best to ask referrals from.
Whether it is through fun or serious ways to ask for referrals, just ask. Either way how to ask for referrals matters. It should be easy for the prospect to respond positively, by being specific. For instance, “Please refer me to three of your fellow engineers in your engineers WhatsApp group.” Will he likely refuse? That is always a possibility but sales is a game of numbers, and so if you can get every 6 out of 10 asks converting, you’ve gotten yourself a 60% potential increase in sales just because you asked for a referral.
See more prospects. Another easy ways to increase sales
Being a game of numbers, it follows that to increase your sales you must look for more people to sell to (prospects). So, do that. How? If you are in the B2C space, manage your time more effectively by selling in a specific market with a high concentration of your prospects. For instance, a large employer like Kenyatta National Hospital. This will optimise your face-to-face time and limit your need to travel from Point A to B. For instance, instead of seeing the required 4 prospects daily, you easily see 8, and occasionally make presentations to 30. You find that you seemingly have more hours in your day because while your counterparts lament the lack of new prospects, like a hawker in traffic, yours are swarming all around you.
Increase your closing ratio
One of the best ideas to increase sales is increasing your closing ratio. It is considered best practice to measure the effectiveness of sales efforts by measuring your closing ratio. Your closing ratio is a metric you want to keep monitoring. If for every 10 prospects you pitch too, 2 buy, then your closing ratio is 2:10 (or 1:5). You easily increase your sales by self-critiquing the reasons for your lost sales. Is it that you don’t qualify your prospects adequately? Or, is it one of these 3 costly mistakes. Identify and correct what it is and watch your ratio move to 3 then 5 in 10 and with it an increase in your sales.
So there you have it. While others are brainstorming ideas to increase sales, you can simply increase yours by the foregoing creative ways. Go for it!
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