The Odds Against Making a Sale

Beating the Odds

Odds are that you won’t make the sale. Odds say that your prospect won’t even talk to you. How’s that for a negative opening line?

It is a fact that salespeople lose more orders than they win. The odds of making more sales and earning more money improve when some sales fundamentals are faithfully practiced.

There are many barriers standing between you and booking business. That said; let’s lay out a few things that you can do to make your chances of success better and cutting the odds.

 

1.      Know your buyer

Does your buyer clearly have a need for your product or service? Is there a budget to buy from you? Is your buyer a decision maker? If you can answer all three questions with a yes, you have increased your odds of success.  This is known in sales lingo as qualifying the lead. You will enjoy more happy outcomes if you are good and faithful at doing this.

 

2.      Know why they will give you money

There must be a reason for the buyer to give you money. What is it? Most sales are made when the seller solves a problem for the buyer. If the problem hurts more than the cost of the solution you are on to something. The easiest way to get to the bottom of the value proposition is to ask the buyer a bunch of relevant qualifying questions. The answers will help you make the case for your offer that will resonate with the buyer. We call this step solution selling or consultative selling.

 

3.      Know what you are talking about

Buyers like to buy from experts. It gives them some security. If you really know the application you are pitching you might even get the order without having to be the lowest bidder. The good news here is that you can invest in yourself and can become an expert on your target buyer’s needs and how your offer solves those needs.  Bingo. A knowledgeable salesperson should beat out novice competition.  In sales, knowledge is power. Power up

4.      Tune up your pitch

The words that you say and how you approach a buyer really matter. Get your story straight, make it short and compelling. Feature the value you provide. If you get the buyer’s interest early (within seconds) you will cause them to ask for more details, giving you all of the time you need to sell. You need to fine tune and practice your opening remarks. This opening statement is referred to as an elevator pitch because you have to get it out and over in the time it takes for an elevator ride.

5.      Ask questions and listen

It seems contrary to logic, but listening is the best sales skill. If you ask probing relevant questions and let your buyer answer, you will learn what the buyer’s problem is and what will cause them to give you, or someone else the order. One fundamental rule is to make sure that the buyer is the first person to talk after you ask a question.  And while you are at it, don’t forget to ask for the order. Break this rule and you chances of making the sale are diminished.

Selling is difficult. Make it easier on yourself by following a few simple rules.

 

Good selling.