According to a recent survey by Nasscom, around 70% of the start-ups will run out of cash during this Covid-19 outbreak and the remaining businesses will barely survive. However, if you can adapt the five sales tips below, you can easily survive the upcoming recession and thrive in your domain.
- Know Your Goods
The first element in any sales process is to know your product or service, and even better if you are an expert or power on it. Knowing your product or service and being able to demonstrate both the advantages and features radiate trust and reliability. It’s crucial to remember that Customers buy privileges, not features. The what’s in it for me situation. If you can find ideas your product or service can solve problems for the customers even better. Sometimes we are so eager to explain the quality and how it works that we don’t explain the benefits. Never assume the customer recognizes the benefits it’s up to you to get this across to them.
Prospecting in plain terms is seeking new customers. The key is to understand where to look and what to look for and to create a database with profiles of enduring customers. It’s crucial to know the difference between a lead, a prospect, and a qualified possibility. Once you recognize your important markets, you need to profile the candidates in each of the specific markets to adjust marketing strategies appropriately. Direct mail with a seminar invitation might work well for one market but will it be effective in developing other leads. Know what your ideal customer looks like for each of your market segments. These tactics should be clear in your marketing plan. Everyone in the company should be involved in prospecting. Often prospects turned customers are discovered from chance meetings on a social level.
- The Path
Consider the path as a sales call to start to build a relationship and gather further knowledge rather than lead generation. This is where a good approach is significant to ensure you come across as assisting with something of value to offer rather than a bothersome, aggressive style salesperson putting up the prospect’s guard and directing them off. Prepare what you are going to say and know it well enough that you don’t have to read it and it does not come across as a canned speech. Take comprehensive notes on the call and note the next step you will take. Adapt your call based on whether it is a follow up to a lead, a prospect, or a cold call. The approach will be separate for each one.
- The Needs Evaluation
Think in terms of solving a prospect’s problem. This enables you to determine how your product or service can serve the needs of the prospect. This is the most important part of the process. Understanding and trading with the needs of your possibilities will allow you to become a highly effective salesperson. Asking lots of questions is the only way to determine the prospects’ needs and it builds faith and trust and allows you to answer their objections. How is your product or service different to that of a competitor, be prepared to answer that question. If it is discovered that the candidate is not going to turn into a customer don’t hesitate to ask for referrals. If you have built a relationship with the prospect even if they cannot use your service or product they are more likely to give you the contact information of other prospects they think might have an interest.
- The Presentation
First and principal focus on the advantages of your product or service rather than just the highlights. How will it be of interest to the candidate? This way your exhibition should be focused and relevant rather than a self-promoting discourse from a seller’s point of view. Tailor your presentation to the needs of your prospect and keep it interactive.