Sales Velocity 101 for the WIN.

In the non-capital industrial sales business (sales with a unit value under $25,000.00), speed counts.

In fact, very often the supplier with the fastest response to both an inquiry and the ability to accurately quote & deliver will get the sale.

Here’s Why:

This may not be a budget or cost management process, but it may be a “Do You Have…” process”.

Here is a key to understanding this. If the customer starts with this question, “Do You have _______ In Stock?” Something has happened on his or her end that has moved their need into a near urgent or potentially urgent state.

Understand that the customer does not want to appear to be in need of what you are selling because they do no want to be taken advantage of.  However, if they did not NEED IT NOW, they would not have asked whether you had it in stock.

So, with this understanding of your customers need now uncovered, you have the opportunity to become the hero to your customer.  Just with a few simple words.  “Yes, we do have that in stock”, or “Yes when would you like it delivered?” and the sales is in motion.

The next step is simply to close the sale and fill the order.  This is done by capturing the customers contact info and forwarding them the quote to be signed off on as quickly as possible.

If you are going to win, you will need to have to have a high-speed quoting system. It could simply be a form to fill out and fax. Or a spread sheet  in which to enter data into and fax/email. It could even be a server or cloud based quoting system.  (I personally love the cloud based quoting program www.socketapp.com) Whatever your method, it is important to get the order confirmation delivered within 5 minutes or less to avoid competitors to quote ahead of you and win the sale.

Following sending the quote to the customer, is important to now use a soft touch.  Do not push the order process too forcibly. You will need to assure them the product will launch upon order confirmation and that you will be ready to act with the speed that they require.

In no time, you will get the order confirmation back or a request to process the payment.  If they are on account, get that order in motion.  If they do not have account, run their credit card and get that order in motion.

Be sure to let your customer know all the way along the sales process that you are being proactive in filling their order and never use language, vocal tone or body language that gives them the idea that you have them over the barrel.

If it appears that you are taking advantage of the customers need for your product or service, the sale will be on one-time deal.  They likely will not become a repeat customer.

On the flip side.  If you treat your customer with respect, understanding, precision and solid communication, you will be respected as the supplier who got them out of a jam. Your positive actions will earn you respect, trust and referrals.   Your attention to their needs and the promptness of your actions will also earn you the ability to sell at full price.

After all, the value is in what the item they just bought will do for them! It is not in what it cost them nor what it is. Those are just the minor details.

Change your value, change your world.

To learn how to apply this strategy to your business, get in touch.

Beyond Networking

As a sales person you are fighting for the win. You follow the best possible practices, you out learn and out hustle all competition to land the sale and hopefully through excellent product and/or service quality convert that one sale into an account with a chain of future sales.

There is just one big problem with all of the above. No matter how well you perform you are always giving your customer one final thing, an invoice.

The customer has a direct responsibility, to pay the invoice and as such will endlessly be on the look out to ensure top performance on your part, while constantly being on the lookout for who is willing to outperform you on product, service or price.

You job it to then work toward developing customer loyalty, which on a good day is a tough challenge, unless you are practicing the ultimate in value delivery to your customer as follows…

Bring your customers new revenue.

Wait a minute, as a seller my job is to sell, get paid and line up the next sale, there is no place in the sales process for the process to work backwards, they pay you, and not you pay them. And in this singular logic lies the magic of bringing your customers value, in fact so much value that you are a hero, the receiver of the warmest smiles and a personally made cup of coffee by the gatekeeper and the receiver of your customers time any time you ask for it.

How is this done?

  1. Invest in “Quality Time” with you prospects and customers;
  2. Know your customers and what “to them” is the perfect customer;
  3. Know your customers problems and what “to them” perfect solutions look like;
  4. Connect the dots between those who need solutions (buy or sell) and those who deliver them;
  5. Literally arrange coffees between members of your network and make the contacts that bring new business relationships into existence, some are buyers of solutions, others the sellers;
  6. Systematically, over time you will have brought your prospects/customers more net profit than your own products/services cost, you are now a PROFIT CENTER to your customer.

Now how will the competition, compete with you. All they can do is sell, even if they drop their price to $0.00 they will not win because your value proposition is simply superior. You have brought and will continue to bring so much value to your customers that change will not even be considered unless you bring it.

Understand that this is not a “make sales fast” scenario, significant hard work is needed to generate the network and trust that leads to a true understanding of your prospects/customers’ needs so you are able to legitimately connect those inside your network with meaningful referrals, direct connections all powered by your personal recommendations.

Likewise do understand that the efforts when maintained over a prolonged period of time generate sales results and customer loyalty like you have never experienced before.

Change your value, change your world.

To learn how to apply this strategy to your business, get in touch.