In relation to sales, the only wrong approach is the one that doesn’t get the deal closed. As such, owners should make sure their sales teams change up their tactics regularly. This change needs to happen to keep salespeople from becoming complacent and to give them the tools they need to sell to sophisticated consumers who have developed an immunity to traditional sales techniques.
No more phone sales
While millennial consumers obviously love their smart phones, trying to sell to that demographic over the phone is not a good idea. Whether you purchased a list of leads for a third-party company or you’ve compiled a database of phone numbers from your existing customer base, it’s a waste of time and money to have your team make dozens or even hundreds of cold calls in hopes of landing a handful of sales. Instead, maximize your ROI with newer direct marketing channels such as email, branded app notifications and text message blasts.
There was a point in time when conventional wisdom held that salespeople should try to close a deal as quickly as possible to keep a customer from second-guessing themselves out of making a purchase. However, in the current paradigm, fostering lasting relationships with clients is a more effective strategy. Instead of prefacing a sales pitch with pedantic small talk, contemporary salespeople should utilize appreciative listening and mirroring techniques in order to establish a rapport based on shared experiences, interests and values. By doing this, members of your team will be able to discern and address a customer’s pain points while simultaneously beginning the process of turning a tentative shopper into an enthusiastic brand ambassador.
Embrace fixed pricing
Whether it’s cars, jewelry or cell phones, salespeople in a variety of different industries inflate the retail cost of merchandise in order to garner themselves larger commissions. But the rise of the internet has rendered the five step sales process obsolete. Now that consumers can compare the cost of your products or services with all of your major competitors with the touch of a few buttons, commission-based pricing is becoming less effective. Since trying to resist the inevitable is a waste of time, you should embrace fixed pricing by implementing decoy and anchor strategies that will entice savvy customers and allow your sales team to focus on overcoming objections and building value instead of haggling.
This article was written by Mario McKellop via Examiner.com for CBS Small Business Pulse.