After years of building up a name in this field, there is one question I get asked over and over again. It’s a question I both detest and wholly understand. Ready for it? Here it is: “What are three quick ways to land bigger sales?” Oh, an easy one- I’ll follow my answer with “72 hours to achieve peace in the Middle-East” and “The Layman’s Guide to Cold-Fusion Nuclear Energy.”
It’s a complex question posing as a simple one, and I more than understand sales leaders’ impulse to have a quick answer. After all, we all want to land bigger sales!
However, anyone who knows me knows that short-form answers are not my strength; I’m usually a bit verbose. I’ve fielded this question in radio interviews, with peers, and generally with anyone who is curious about how to increase their revenue quickly. Aren’t we all!
We may not be able to wave a magic wand or force sales, but we can abide by a few simple tips to help us properly hunt sales and efficiently land key accounts. Below, find some of the tips I use in my own sales coaching:
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Hunt less. (What you don’t do is more important than what you do)
A theme we’ve all been glomming onto during this remote work period has been to work smarter, not harder. The same principle applies to sales when we want to close the deal — doing more work, or more hunting, does not always correlate to landing more sales.
Here’s what you can do — cut your prospects back by at least 60%. Despite what many may think, hunting big is actually about hunting less. Focus on the amount of that a prospect spends on what you offer, not on the logo on the building. How do you clip back? What does your estimated time to sell look like as compared to their speed to buy? If you are more urgent than they are, the clock is upside down. Urgency to solve a problem is a universal measure of possible success.
Second, if the prospect you are meeting with cannot clearly identify a big challenge – move on. You are knocking at the door hoping that the prospect will throw out scraps. How find a prospect that has the problem you solve when you solve big problems.
Finally, if you can’t get to the senior executive who has the real problem and can sign on the line within 3 conversations or meetings, move on. Clean your pipeline out cold – as said before, “It’s just business, it’s not personal.” Stop wasting time going to smaller accounts and go after what you know you are worth.
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Get to the bigger table.
Big sales are bought by a group of people inside of a company, not just one person. Ask for the peers and other people to participate earlier in the process and you won’t have to overcome as much resistance later. By the way, get the money people in the conversation early – CFO, purchasing or procurement. Don’t fool yourself, you’ll see them later in the sales process, so you might as well see them earlier and get the potential autopsy of your prices versus value out of the way. Don’t be afraid of these people. No matter what you sell, you can re-engineer it back to money. Maybe you reduce expense, increase margin or grow business. Regardless, money initiatives move faster.
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Focus on their fears.
Small purchases are made based on budgets and pain. Big sales are made upon comfort that the purchase is going to work and there won’t be problems later. Your job is to ensure that this transition is more than just mutually beneficial: it’ll take the company to new heights and, without your services, the company may perish.
What I love about offering these three tidbits is that everyone in the field will have a unique perspective, and that’s how people continue to learn and grow. With that in mind, what are three quick ways to land bigger sales that you have found successful?
I invite you to set up a call if you are struggling with the process of hunting big sales.
