- By
- LAURA LORBER
Some sales people seem to roll along the sales
track until they get to the close – and then abruptly fall off.
Losing nearly-done deals may occur more often at
small companies, which typically don't have the same focus on sales or the
resources of larger competitors.
Business owners frequently expect the sales team
to operate with little guidance, says John Palumbo, chief executive of the
Sales DNA Institute, a sales-and-marketing management firm in Jacksonville,
Fla. Their attitude, he says, often is: "They should know how to do all
this."
We asked Mr. Palumbo, who helps companies,
including family-run firms, revamp their sales strategies, about ways small
companies can ramp up their closing rates. Here is some of the advice that he
shared.
1. Confidence is your
No. 1 asset.
Many sales people at small businesses often have
charisma, the gift of gab and presentation skills, but they falter when it
comes to asking for the money. They may not believe enough in the product or
its value. Or they may worry that people will say no and they'll take it
personally.
Gaining a deep understanding of the customer and
the product or service they're selling can help build confidence, Mr. Palumbo
says.
"Sales people want to go out there and work
for a company that will teach them what to do. They are begging for help. Most
owners don't understand that," he says.
2. Integrate the word
'only' into presentations.
Having only one of something often creates urgency
in a customer's mind. Why? When supply is abundant, customers may see no need
to hurry to buy. But for a one-of-a-kind item, often the reverse is true.
"The word 'only' is probably one of the
most powerful selling agents when it gets to the close," he says.
"Good sales people can create a one-of-a-kind use on every product they've
got."
Auto dealerships do this when they have only one
kind of car on the lot that you want – for example, a white model with leather
seats and satellite radio. Customers often will close sales themselves, he
says.
3. Don't wait to hear
the word 'yes.'
Many sales employees wait for the customer to
say, "Yes, I'll take it." But many people don't say it. So a good
sales person says, "Do you have any other questions before I start writing
this up?"
When the answer is no, the sales representative
begins filling out the contract.
"The word 'no' becomes a positive," he
says.
