Have you ever finished a sales call and you didn’t make the sale?
More than likely, you were beating yourself up a bit. Thinking about your strategy and wondering where you went wrong.
‘I totally messed up that appointment!’
It’s certainly happened to me before, and I know it’s happened to every other business owner too!
Over the last decade of doing sales in my businesses, and coaching business owners in sales for their own business, I’ve found there’s 3 key reasons why salespeople don’t convert and close as many sales as they should.
Because the thing is, if someone’s calling you to enquire about your services, or for a quote on work they need done, they’re in business-mode. That is, they want to do business with somebody. They just don’t know if that somebody is YOU.
A lot of people will tell you - ‘people don’t like being sold to’
You know what? I completely disagree with that.
People love being sold to. People just don’t like poor sales people with poor sales skills.
I had a conversation about 3 months ago with a mentor of mine.
She wanted to know what numbers we were doing.
I shared with her the stats (these are stats you should be tracking too and know intimately)
- How many leads we generate
- How many sales calls we book each week
- How many people of those calls we convert into our Opulence program
- Average sale
- Lifetime value
- And so on…
She was blown away by our numbers.
Namely, she couldn’t believe the rate in which we convert sales. I’m talking cold sales, on the phone, into our flagship program, Opulence.
Basically the average conversion rate in our industry is 20-30%. If most companies convert this amount of people into their programs, they’re happy. Job well done.
The reality is that we convert three times that amount into our program. In the same industry. With the same amount of people.
No we don’t have magical fairy dust.
What we DO have, is a system for converting sales that is organic, is value-based, and is about as far from ‘salesy’ as you can get… while the person is still well aware that they’re in a sales conversation (no shady tactics - ever).
Marketing does have an enormous impact on how easy (or hard) your sales process is. Back when we started TGC, we didn’t have a marketing system in place. What we were very good at though, was understanding the market, understanding people, and where they’re at.
If I’d have been told when I first started in this industry ‘oh, 20-30% is a good conversion number’, how do you think that would’ve affected my mindset?
If you’re thinking that it would’ve placed an invisible ceiling on what I thought I could achieve, you’d be right.
The thing I know now is that I never had any preconceived ideas about what ‘good or bad’ was. Instead, I concentrated on refining my skills over and over again until I got them to a level where I thought they were acceptable.
The mind is our biggest tool, and our biggest threat.
Have you heard of the guy who first ran the 4 minute mile?
Before he did it, runners had tried for years to break that invisible barrier. They thought it couldn’t be done.
But after the guy first busted that barrier, and ran a 4 minute mile… it was like floodgates opened. Suddenly hundreds of people were breaking that barrier month after month.
Those runners were always able to do it. They just didn’t believe it.
Which brings me to the #1 thing that messes sales people up…
This can bubble up in 3 ways:
1. You lack belief in the product or service you’re selling.
Their belief can be conscious, or unconscious. It can be that they don’t believe in the product they were selling. If I don’t believe in something, I can’t show up congruently to sell it.
I think that when a sales person doesn’t really believe in what they’re selling, energetically their prospect picks up on that. As a salesperson, you have to believe 100% in your product or service you’re selling.
If I 100% believe that our business coaching program will genuinely help the person I’m speaking to, I’ll go to any lengths to make sure they understand the value of it, so they can get the results they deserve.
2. You lack belief in YOURSELF.
I believe there’s no limitations to the amount you can earn, or the amount you can sell.
I’ve often found that sales people or business owners have a comfortable level of income they can generate.
Whenever their system gets close to that level, you start to notice their conversion rate changes.
Your business will never outgrow you. Businesses can only expand to the ability of the person running them. If you want your sales to keep growing, you as a business owner needs to keep growing.
Sales is very different now than it was years ago. The market has changed. The way we interact with brands and consumers has changed. There’s never been as much opportunity to make an income as there is right now.
At the same time, that means that competition is high. And in competition-rich niches, it’s easy to start basing your value on price.
But when you’re not presenting the value of your service or product beyond the financial costs of it, you’re always going to be in a race to the bottom on price. And there’s always going to be someone out there who will do it cheaper.
So Number 2 is about always learning and being conscious of your own feelings about selling. What do you enjoy about it? How much value do you place on your services? Ask yourself how you can enhance your self-belief to do it better?
3: You don’t get feedback
Looking back at when I had my kitchen cabinet business years ago, there were a lot of things I managed to do right, and a lot I did wrong too.
One of the things I did right was whenever I didn’t win a job, I’d always go back to the prospect and ask them about why they didn’t choose my business over my competition.
Believe it or not, they were always very open in sharing why they chose not to go with me. But I didn’t stop at ‘the other guy was cheaper’. I had a series of questions that dove deeper into their rationalisation process, into what they were looking for, and what they valued about the pitch they took.
What I found was that the presumption that they went with the other guy based on price is actually BS 99% of the time.
People share that because people buy into it. It’s an easy answer. Oh, they were cheaper? Well yes then that makes perfect sense. No, actually it doesn’t.
Similarly to staff leaving a workplace. They may say they’re leaving for more money, but they’re actually leaving because you’re not looking after them right. If you’re looking after your staff right, it’s a higher risk for them to leave for more money and risk not being treated as well in their new job than it is for them to stay where they are.
And so really what they’re saying is this
- They didn’t trust that the service or product would give them a certain benefit
- They didn’t believe you because they picked up that you don’t 100% believe in yourself
- Nor did they value you because you didn’t frame the value of what you’re offering in a way that resonates with them
They may seem a bit esoteric to you. They’re probably outside the norm of what people usually teach about sales. But if you spend some time playing in that space, I guarantee your sales conversions will go up.
The Importance Of Sales Strategy
And if you are looking to increase your conversions to 70, 80, or even 90% (yes it is possible), I’d love for you to reach out for a chat with one of the team at The Game Changers.
We have a very proven process that we teach all of our members that get results time and time again. Book your 15 minute scale session using the link below.
During the call we’ll discuss where you’re currently at in your sales journey, where it is you want to go, where the gaps are between your intentions and your strategy, and decide whether TGC program will be the best path for you to go down.