You've taken the bid leap toward financial and personal independence and opened up a business. There are prospects that have shown interest in your business services, but you can't seem to close enough clients to get out of the red, what gives? You're experiencing issues in Sales.
Problem No. 1:
Most of us have been raised to believe that Sales is something icky, something slimey, something harmful that we do to people. But that is an incredible misconception, and believing that about Sales will ensure that you continue to experience failures when you go to close.
Sales is not something we do to people, its something we do for people. Sales involves identifying your potential customer's problem, helping them get clarity about how its affecting them personally, financially, and professionally and showing them how your business is the one that can help them solve that problem. We help our Sales Coaching clients work through their engrained Sales misconceptions and help them create sales conversations that are substantially more effective.
The average untrained business owner closes on 20% of qualified leads. Best in class companies close about 30% of their leads. Natalia Ouellette-Grice's unique REAL-PRO Sales Conversation averages a closing rate of 90% for qualified leads.
What would it be worth to your business to close just 10%, 15%, or 20% more than your present figures? Let's do some simple math. If you have 20 calls in your remodeling business a month, and 50% are qualified leads, that means you have 10 qualified leads to work with. If your current closing rate is 20%, and your average client value is $6000.00, your business is earning $12,000 a month from your sales conversion. Lets say you invested in Sales Coaching and your Sales conversions improve to 35% for qualified leads. Your monthly business revenue is now $21,000. Your business income almost doubled because of a 15% increase in your sales closing rate and you didn't have to spend a single dime on marketing!
Problem No. 2:
Business owners often think that the only thing that they are able to compete on is price. Instead of focusing their sales conversations on the value of how they uniquely assist potential clients with a solution for their problems, business owners make the mistake of talking only about features and their process, and then share their prices with unqualified, uninterested, or unprepared prospects. This is a recipe for commoditizing your services and forcing a price war as the only means with which you're closing sales.
People do not buy from your business because of the price. People buy from your business because of the perceived value once they feel that your services are going to get them the solution that they want. Stop talking about features and start talking with your clients about what really matters to them. Its never about the money. The average home value in Tampa Bay, Florida in 2022 is $400,000. Do people have $400,000 in cash to buy? Very few. People will do anything necessary to be able to buy the home they want because of what buying that home means to them.
Problem No. 3:
You may be thinking that as the owner of a small business you need to be having sales conversations with anyone who approaches you about your business. This results in you spending a lot of your limited and valuable time speaking to tire-kickers. Are tire-kickers ready to hire you, hardly! So, what do you do?
You train your intake team to sort tire-kickers from potential customers who are ready to buy, and spend your time having deeper and more meaningful conversations with people who are ready to solve the problems that your business solves. When you're excited to speak with people that you know want your help, and you know that you can help, that energy translates into higher closing rates and much happier customers.
Think about this. How often have you cold called a business because you were in the very early stages of considering buying a product or service and when the business reached out to you, you were unresponsive or only asked about price because you weren't yet informed enough about that product or service to see its value in your life and you ended up ghosting that business? You were being a tire-kicker. You weren't ready to buy. Without understanding how to identify tire-kickers, you're going to spend too much of your day chasing after ghosts.
If you'd like to schedule a Discovery Call with our Sales Coach to learn more about how you can train your team to weed out tire-kickers so you spend more time having meaningful conversations with potential clients who are ready to buy, email Natalia@lcolawfl.com or call 813-480-2106 today.
Tell us about your Sales goals in a complimentary Discovery Call.
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