Sales success depends on conversion. If you don’t currently track your conversion rate, you will notice an increase in sales just by doing so. People always do more when they are being watched!
To calculate your conversation rate, simply use the following formula:
Total Sales ÷ Total enquiries or presentations = conversion rate (%)
Most people say their conversion rate is around 80%, but when they actually track it properly, it is usually below 20%.
Here are six ways to improve your sales success and rate of conversion.
1. Improve your listening skills
Do you start responding, or even defending, in your head when a prospect says something you don’t like? If you do, chances are you need to work on your listening skills. Great listening requires focusing on both the words and the feelings behind the words. It involves looking for opportunities for connection, knowing when to paraphrase, when to be silent and when to use active listening noises, so they know you understand. Greater listening can increase your sales success and conversion rate provided you practise and make a concerted effort to improve this skill.
2. Understand body language
Have you ever seen two friends at a bar together who sound alike, sit alike, and use the same vocabulary? When people are in rapport, they naturally “match & mirror”. Creating rapport with a prospect is a way of telling them “I’m like you”. People buy from people they like and trust, i.e. people like themselves! The words you say impact your buyer and so does your voice tonality and quality, but your body language has the greatest impact of all.
3. Ask the right questions
Asking great questions has always been the fastest way to determine what your client needs and to determine how you can provide that need and achieve sales success. So why do so many soloists leave it to chance? Here’s some useful questioning tips:
Want more articles like this? Check out the sales strategies section.
- Ask open ended questions that are non-threatening.
- Ask follow up questions based on their answers.
- Write down your typical sales call and turn it into a prompt – so you can make sure you cover all your bases and get all the information you need.
- Never take a call when you’re unprepared, it’s better to call them back when you can handle it properly.
A well-qualified prospect should be 80% sold at the end of your questions, before you have even explained your service to them!
4. Present your price well
Many people who don’t like the sales aspect of their business take on the sales monster persona when it comes time to discussing the price. You’ve done a great job up until then, so just relax and be yourself. It’s best to simplify your package as much as possible, and by only offering one or two options improves your chances of getting a ‘yes’ response. For example “We have 2 options, the business builder program at $1595, or the super success at $2950, which would you prefer?”. A well practised price presentation can increase your sales success by up to 20%.
5. Ask for the sale!
A majority of lost sales occur simply because no one asked for it. Here are some simple suggestions: “When do you want to get started?”, “Which option would you prefer?”, “How does that sound?”, or “Will that work for you?”. Then learn when to shut up! Most sales people are described as having the gift of the gab, but if you keep talking once you’ve made the sale, you’ll buy it back. Once you have asked for the business, you need to be quiet and wait for the answer.
6. Learn how to handle objections
Many people are afraid of objections and throw in the towel, or worse still, get defensive. Remember to listen carefully – sometimes they’re just questions, sometimes they’re excuses and sometimes they’re problem clients! Listen and think before you speak. Always answer questions with confidence and certainty. Confirm that your solution works for the client, then ask for the sale again. Overcoming objections properly increases your sales success by up to 50%.
If you add up all these numbers you’ll see we come to well over 200%. So multiply that by your current results and you will have doubled your sales success!
Which of these have you had most trouble with? Or which sales techniques and processes work best for you? Add a comment to let us know.