We have been working our way through the basic sales ratios and what you should do to improve in each area. And we have been using the following ratios as an example from which to coach:
- 1.42 raw leads to 1 qualified lead
- 10 qualified leads contacted to schedule 1 appointment
- 1.16 appointment scheduled to complete 1 presentation
- 2 follow up contacts to close 1 sale
- 3 sales presentations made to close 1 sale
- average commission per sale = $2,000
We are still working on strategies to improve our closing ratio, and our last segment finished with a discussion on asking great questions.
Think about this for a minute. You have designed and asked incredibly insightful questions. Your prospect has opened up to you and told you about the issues they are dealing with and what potential solutions may be. You know that you have those solutions and you can really help the client.
Regurgitate those solutions all over the table, right?
“Use the psychology of the sales process to take the potential buyer through a series of steps that make closing the sale a piece of cake.”
- Wait until your prospect has verbalized 3 or more needs that your product or service may provide a solution
- Then take each of those needs through these steps
- Rewind: Earlier you said that you really needed something that could do “X”
- Revalue: From what you said, not having that solution (or having a solution) will have an impact on your bottom line of ($)
- Resolve: We have a solution for that issue – we can provide “ABC” which will do “X” for you
- Rekindle: How would it make you feel to be able to resolve that issue?
The psychology is simple.
- You replay their own words expressing a need for a solution
- You replay their own words expressing the value to them if they had a solution
- You present how your product or service provides the solution and the value they said they wanted
- You link your solution to an positive emotional feeling they will get by implementing your solution.
Being systematic in this process will move your score up in closing sales.
What is your favorite question during the discovery process?