When I look at businesses from a strategic viewpoint, making more sales is more than just sales training.
Yes, working on your leadership, mindset, and skill sets is vitally important, but this is only relevant when in direct communication.
Prior to that, it’s the “everything else” that most business owners forgot to focus on.
Marketing companies do a great job in convincing business owners they need to spend thousands each month on lead generation. But does lead generation create you more profits, or does increasing your sales conversion rate increase your profits?
The answer is both! But are you investing equally in that process to ensure you are maximising the results?
Ask yourself, how much money do you channel into your marketing, versus how much money do you channel into their sales training? Even the ledger, increase sales and profits, instantly.
Now let’s touch on the backend starting with pricing.
If you increased your pricing by 5% today, what difference would that make on your bottom line over the next 12 months? If your turnover is $1Million, that will add an extra $50k overnight!
There there is your procedures, products (current and new) and systems.
When I’m doing a sales analysis meeting with a company, the sole purpose is to look at how I can help them get more sales and profit in their overall business.
So, we look at how you are pricing yourself in the market. What are your competitors doing. What’s the difference in the service. What makes your service so unique and what makes you special.
When we understand your uniqueness, and point of difference, we can then get to work on re-positioning your pricing based on the value you bring.
People forget, when you offer more value, you can then increase your pricing accordingly, so you are not just another supplier of a similar product.
For example. Let’s look at me.
People box me in as just a “sales trainer”.
What do most sales trainers do?
They teach you how to overcome an objection and how to close a deal using manipulative tactics.
Whether they say it’s through integrity selling, or ethical selling or what, whatever spin words they want to put in it. The bottom line is they’re manipulating the outcome. I know this because I come from a commission only sales background and the objectives are clear… just get the sale!
So, my point of difference is, I’m looking at the bigger picture.
What we can do with the leads that we’re nurturing from the beginning to the end, and beyond.
When your clients understand your point of difference, (that’s where good training comes in) the pricing that you can charge is much higher, because what they’re buying is your system and your procedure on how we deliver. The value we bring to them
They’re buying the trust that you can deliver on the outcome that they’re looking for.
They’re not buying us on price.
If you want to be the same as everyone, unfortunately you will be out of business soon. There is no such thing as longevity in price wars.
Have you heard of the saying, “work smarter, not harder”?
The next thing I talk about is your products.
I’ll get a complete overview of everything you sell, and the services you provide.
I get excited when I can create new products, with different price points that offer new streams of income with next to little or no extra work!
I’ll give you an example. My wife, Amanda is registered midwife who works a baby sleep expert and a lactation consultant. She is also a hypnobirthing practitioner.
Now, her income is capped because she is a consultant and trades time for dollars. Sadly she is also and is un-duplicatable because nobody has her combined experience, qualifications and knowledge.
I looked at her products and was able to help her create three new products from those.
They can be more accessible, at a completely different price point, with a lower entry point, that still solves 70% of her clients’ problems.
Then if her clients need specialized work, they can book her for a 1:1 consultation at a higher price point, for that extra work.
This allows her to leverage her time, experience and service offerings which then creates extra revenue streams, basically from the same work!
The next thing that we want to talk about is your process.
Recently I saw a potential client, and before he engaged me, I quizzed him on his nurturing system.
Pre-sale and Post-sale.
I’m also interested in the approach of lead generation, and I asked, “how are you attracting your leads to come in?
Are you using just a top of funnel approach, where you’re going direct to market and looking for the quick sale, or to nurture and build trust? Or both??
For me, the nurturing part of the sales process is the most important.
My clients want to do business with me because they trust me.
Because I give freely and without conditions in my nurturing process, when these people come to me, I can ask them straight up, why me and why now?
There are two qualifying questions right at the beginning that tell me exactly why they trust me and why they are ready to do business today.
You can’t ask those questions if you haven’t established the trust first.
Now, here’s the kicker…
Where most businesses fail, is the after-sale nurturing processes and procedure.
I see so many businesses focusing on getting the deal done, that they forget about the next deal (repeat purchase) that comes from that client.
We must have our back-end processes in place, so that we stay front of mind post sale.
You always want to be front of mind. You always want to be adding more value to them because they feel like they’re getting so much more than what they paid for.
The more you nurture them on the back end, the more likely they will rebuy from us because we are the expert and most trusted.
At the same time, you are building a stronger and deeper relationship, so they are more comfortable to refer to you.
If you’re not doing any of these three things that I’ve shared with you today, and you would like to know how to implement it into your business, feel free to book a 15-minute strategy call with me here: https://calendly.com/tasta-coaching-call/15-minute-discovery-call
Here’s to your success!