Top Sales Prospecting Tips for Success this year

For many small businesses the last 5 or 6 years has been extremely challenging, as a result of consumer spending habits changing, increased competition, regulatory changes etc. Customers more than ever are being more price conscience and conservative, so what can we do differently this year to increase sales productivity?

  1. Ensure your sales process has the following three phases:
    1. a sales process for creating an opportunity;
    2. a sales process for managing opportunities;
    3. a sales process for retaining and growing accounts won.
  2. Concentrate your sales efforts on the 20% of your products or services that bring in 80% of your revenue.
  3. Always follow-up and follow-through with each prospect to maximise the chance of converting leads to sales.
  4. Focus on marketing that provides a good return-on-investment like call-to-action type marketing messages that drive the revenue of the business. The call-to-action does not necessarily need to be a discount but should illustrate your points of differentiation.
  5. Regularly review your numbers so you know what you have to do in regards to revenue, average sale targets, number of sales you need to make each year and how many prospects you need to contact.
  6. Boost referrals from existing clients by offering them an incentive for each referral.
  7. Reward top sales performers through the use of non-financial rewards. This can be a good short-term arrangement that might include flexible working arrangements or time off for a special occasion.
  8. Ensure you allocate specific time each day or week for sales generation and stick to it!
  9. Social Media is another avenue for attracting sales. Decide who your target audience is and if social media is one of the mediums they use. Then create a compelling reason for them to interact with you.
  10. Mass marketing campaigns are becoming less and less effective. You need to target your marketing to the people who you know are actually interested in your product.
  11. Always remember to work your database and contact those on your database who have served you well in the past. Too many times we chase new business and forget about the qualified leads sitting in our databases.
  12. Avoid discounting where possible – once you drop your prices, it is nearly impossible to raise them again. Find other ways to persuade customers to buy, such as improved service, better terms of trade, priority delivery or a little gift with every purchase.
  13. To get leads from your website you must get traffic to your website. Ensure your site is optimised to rank well in Google searches for key words.
  14. Too many businesses spend too much time trying to sell a product’s features while ignoring how a customer thinks before they buy it. Always establish what is important to the customer and sell them on how your product will answer their concerns.
  15. Try getting all your sales people together for a brainstorming session to create a sales process that everyone can do. Get your sales stars involved to pass on tips to the others.

If you don’t have a sales process in place, talk to a business consultant from Watts Price Accountants about how you can increase your sales productivity.

Richard Kemp – Watts Price Accountants
E: richardk@wattsprice.com.au

The advice provided on this Article is general advice only. It has been prepared without taking into account your objectives, financial situation or needs.