The bottom line looms below every company, balanced precariously on a series of expenses, earnings, and estimations. Trying to step into the black while simultaneously avoiding the red often proves to be a challenging endeavor, and sales executives often find themselves bearing the brunt of the strain. They must, after all, close the deals and maximize the profits.
They can do this by relying on proven sales strategies, foremost among them being Consultative, System Selling, and High Probability methodologies. These help to raise the bottom line and improve overall earnings.
Choosing the Right Sales Strategy
Implementing an effective sales strategy is essential. With so many options to consider, however, marketers and sales executives quickly become overwhelmed. They’re uncertain which options are effective and which are inefficient in terms of their overall goals.
The Consultative methodology is a solution-based process. It focuses on examining problems and then offering viable suggestions for those problems. This is what makes it different from traditional methods, which push specific products or services without providing a context. It’s intended to enhance the customer experience, increasing overall service, support, and connectivity. It establishes long-term relationships and inspires brand loyalty.
System Selling is the process of packaging products or services together, highlighting their complementary functions and stressing the benefits of ‘bulk buying’. This, unlike single-model methods, creates a sense of savings. It also showcases different inventory elements and creates a series of cause-and-effect purchases. Customers buy more each quarter.
The High Probability method is aptly named, focusing all marketing efforts toward the customers most likely to purchase goods or services. It emphasizes early identification of key demographics (whether through social searches, keyword campaigns, or optimized search engine content) and utilizes all resources to persuade these demographics to buy. All sales are precise and targeted. Though it requires a deep understanding of local consumers, this method provides strong sales.
Beware the Hard Sell
Hard sell methodologies, which utilize scare tactics, intimidation, and a blitz of questions once reigned supreme. However, time has weakened this strategy as an option. Socially savvy consumers (along with equally knowledgeable competitors) can instantly access a product’s information, ratings, and applications. Easy access to this information counters any hard sell pressures and exposes manipulation, which translates to lost sales. Avoid it.
Increasing the bottom line requires superior products, customer service, and sales strategy. Combine these elements to ensure steady growth.