Are you a salesperson or business owner that would like to significantly grow your sales? If you are like most salespeople and business owners, that’s a no brainer. Of course you want to grow your sales! The problem is that most of the time in order to significantly grow your sales, you have to make significant changes to what you are doing or work way harder than you already are. So, most salespeople end up settling for where they are now, instead of taking it to the next level. However, if there was a way to grow your sales by simply working smarter, and not harder, would you be interested? If you are, here are a couple of key things that you can do to take your results to an entirely different level, without having to work harder to make it happen:
Key #1 – Know Your Numbers
This seems pretty simple, right? You would think that most salespeople and business owners know what their numbers are. However, in my experience, this is often not the case! You have to know where you are at right now with your sales system, and if you aren’t tracking and measuring your results, you can’t manage them. So, if you don’t know simple things like how many prospecting calls you are making, how many appointments you are scheduling, how many sales you are closing, and what your average sales price is, then you need to start tracking those numbers!
Key #2 – Leverage Your Sales System
Most salespeople make increasing their sales way too complicated. If you simply leverage each step in the sales process by a small amount, you can massively increase your results. Let’s do a quick example. We’ll use some numbers from a typical insurance sales person, which are below:
Number of dials/day – 35
Number of actual conversations – 10
Number of appointments scheduled – 4
Number of appointments kept – 3
Number of sales/day – 1
Average sales price – $1,000
Now, if we simply increase each of those numbers by a small amount, let’s say 10%, let’s see what happens:
Number of dials/day – 35*1.1 = 38.5 or 38
Now, if we get the same percentage of people picking up the phone (28.5%), that will give us 11 people that pick up and we have a conversation with. We’ll take this number and increase it by 10% as well, which gives us 12 conversations/day. With me so far?
Now, if 40% of those people agree to an appointment like before, we’ll schedule 5 people. And, if we increase that by 10%, we’ll get 5.5 appointments/day. Out of those (using the same 75% kept ratio from before), we would get 4.125 appointments/day. Again, increasing this number by 10%, we’d end up with 4.5 appointments/day.
If we were to keep our close ratio of 33%, this would give us 1.485 sales/day. Increasing this by 10% gives us 1.6335 sales/day, which we will round down to 1.6 for simplicity. Finally, if we increase our sales price by 10%, this would give us 1.6 sales x $1100 = $1760 in sales per day, a 76% increase in sales!
So, by leveraging each step in the sales process by a small amount of 10%, we increased our sales by 76%! You may be wondering how you can increase each step by 10%. Well, read on…
Key #3 – Role Model Best Practices
I bet you are reading this thinking, “That’s great, but how do I increase each step by 10%?” Well, by role modeling best practices, that part is easy. For example, can you find a few more minutes to make 10% more calls? That’s pretty simple. If you got a slightly better list to call, or changed your calling time, would more people pick up? If you role modeled the phone language of the best sales person in your office, do you think that you could increase your appointments by 10%? How about role modeling the closing language of the best closer in your office? Would that allow you to increase your close ratio by 10%? I’m guessing it would. And finally, if you worked on cross selling and up selling, do you think you could increase your average sales price by 10%? That should be a no brainer as well.
If you work smarter by implementing best practices for each step in your sales process, and moved the needle by just a small amount, like 10%, you can massively increase your results without much effort.
So, next time that you think increasing your sales is too challenging, keep in mind that by making small adjustments and improvements in each area of your sales process, you can leverage your results and get an exponential increase in your results!
Tom Kelly is a Professional Business Coach that specializes in working with small business owners, entrepreneurs, and salespeople. He can be reached at (630) 964-0112, or at www.businesscoachchicago.com.
Copyright © Tom Kelly, Potential In Motion, Inc.TM 2015