One of the things that makes sales a unique profession is the clear and unambiguous focus on quantitative results. A sales quota not only establishes a demanding benchmark for results, but it also defines a tight timeline for achieving those results. When you carry a quote, you need to perform – every month, every quarter, every year.
So, what are some smart sales strategies that you can use to effectively meet and exceed your quota? Here are three techniques you can take advantage of to get ahead and prepare for greater success:
1. Revisit prior prospects.
We tend to think of sales as a linear process. Step one: Generate a lead. Step two: Qualify the lead. Step three: Present the product, service or solution. Step four: Close the deal. And if the process ends at step four without a signed contract or new sale (or if the process goes sideways at an earlier step), we tend to set those contacts aside and move on. And at the time, that’s the right move (in many cases).
But in reality, sales is circular…at least for the prospect. Oftentimes, what they really need is time to digest, time to reconsider, and time to experience a lesser vendor or the results of a poor decision. Those people can often become future prospects with a little nurturing and follow-up. So – make sure to revisit them regularly and don’t be surprised when yesterday’s indecisive prospect becomes tomorrow’s refreshed opportunity.
2. Ask customers for referrals…and more business.
We’ve already identified one pitfall of the linear approach to sales in the missed opportunity to revisit prior prospects. But there’s another one, and that is existing customers. In many businesses, once sales closes a deal, the customer relationship moves into another column and is managed by another team.
But research shows that most businesses fail to consistently communicate all that they have to offer to their existing customers, which means missed opportunities right under our noses. The solution is simple: Connect with your existing customers! Update them on your activities and refresh them on your solutions. Then, ask for a friendly referral. And of course, ask them for more business.
3. Use content and programming to engage your existing pipeline.
The average sales professional is focused on closing the handful of deals that have made it fully through the sales funnel, but this means that the majority of prospects are not getting enough attention until they make it into the final stages of the buying process. As a result, many opportunities can languish or cool off, just due to lack of attention.
On the other hand, you have limited time and you can’t meet any quota if you don’t close deals now. One solution is to use educational content and programming to engage the full pipeline and keep them at the table. Produce a webinar. Hold a seminar. Host a small breakfast briefing or lunch-and-learn. Write a blog article and send it out to your prospects via email. Content and programming are the key tools you can use to keep your entire pipeline in motion.
These three strategies have one thing in common: They empower you to focus your efforts on your entire pipeline, and they focus your effort on warm relationships. None of these people are brand-new to you – they are all existing relationships that can deliver new deals with proper time and attention. By focusing on these three strategies, you’ll be well positioned to exceed your quota for the near-term and well into the future.