9 Powerful Sales Techniques to Boost Your Business
All sales representatives know that closing a deal is important in every growing business. However, great salespeople know how to continue selling after the initial close by continuing to add value to the client, build repeat business, and create referrals.
Keep in mind that communication skills alone won’t cut it. You need to equip your sales team with proven sales closing techniques to help you close deals more effectively. Check out the visual graph below to find out and understand some useful sales techniques that can move your business forward.
9 Proven Strategies to Skyrocket Your Sales
As a business owner, you know that making a sale is crucial to your company’s growth and success. If you are wondering if there is something specific you can do to raise your growth rate, here are science-backed techniques that are sure to boost your sales:
Observe the 5-minute rule
According to a study, people nowadays generally start to lose concentration after eight seconds. With such a short attention span and endless choices, buyers won’t mind leaving you for another brand that is ready to give them the quickest fix.
According to research, a new customer is likely to spend on your product if you respond in the first few minutes of an inquiry. That said, make sure you are ready with your sales arsenal in the first five minutes of lead generation. Your website should load fast. Your sales team should respond to queries promptly. Doing so increases your chances of gaining a new customer by up to 400%.
Leverage the power of social media
If you manage a business and you have yet to debut on social media, you are doing it wrong. Not having an online presence on Facebook, Instagram, Twitter, and other platforms only hurts your business. These are the holy grail of sales, with LinkedIn considered by salespeople as the most valuable for their trade.
A noteworthy statistic: 78.6% of salespeople engaged in social media outsell those who are not. Given the intimacy these platforms provide, you cannot shy away from building that level of rapport and camaraderie with your target audience.
Offer more than one option, but not too many
As a business owner, part of your growth prospects is expanding your brand’s product mix. But that should not be confused with overwhelming your customers with too many options under the same product category. The key is to offer choices without triggering decision fatigue among your customers.
People make difficult decisions daily. When they are out to shop, whether it is for something they want or need, they would rather be spared from unnecessary stress. For a specific product category, keep options at no more than three.
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Appeal to emotions
According to the Prospect Theory, humans are three times more likely to base a decision on loss avoidance than gain achievement. Now, how does this insight translate to sales management?
Consider this scenario: You are selling an eco-friendly line of bags. Here, you can focus on the sustainability aspect of your products, emphasising that your raw materials are good for the environment. You can add that purchasing your bags helps reduce gas emissions that contribute to global warming.
In this case, you are zeroing in on the risk that must be avoided to sell your products. In a sense, the consumer-centred sales angle takes a backseat, and the probable harm is emphasised.
Don’t bad-mouth your competitors
There is a concept in psychology called spontaneous trait transference. This happens when someone bad-mouths another person, and the listener tends to ascribe to the speaker the very traits they describe in the other person. This phenomenon holds water when it comes to portraying another company.
When you criticise your competitors, your target audience might think you are simply projecting. You don’t want to be accused of projection, so be a good sport. Play it fair. Let the quality and benefits of your products and services speak for themselves.
Build interest with benefits
According to a Harvard study, products sell because of their benefits. In marketing your products or services, the first order of business should be to distinguish their features or advantages from their benefits.
For example, you are selling a new line of smartphones that features advanced camera technology. To complete the buyer’s journey, emphasise an extra benefit the customer will get from your product. In this case, you can say that a quad-camera phone allows them to take better selfies at different angles and shoot using the rear camera at different distances. That product proposition will resonate better with a customer.
This is not to say you should not highlight your product’s features. Present them, but don’t let it sound like they are all that you are selling.
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Give more value for free
When someone does something nice for you, the act tends to create an urge for you to return the favor. This is called reciprocity, and it can be an effective way to win customers. As a business owner, you can offer samples to create brand awareness and attract more customers.
You don’t have to spend big to be generous. You can think of simple but meaningful ways to let your customers know you are willing to get out of your way to make them happy.
Received a bulk order of shirts? Why not throw in a couple of freebies? Got an order from a new customer? Welcome them into your brand’s family by sending out a grateful, encouraging, and personalised note along with their order.
Maximise social proof
If you have ever attended an event where people give speeches or perform production numbers, you have probably experienced that situation where you had to wait for others to take the initiative of applauding before you could decide to clap your hands yourself.
That is because, as humans, we seek affirmation from the people around us. We want to feel safe enough to follow through with a decision by looking at others and how they behave.
In running your business, maximising this basic human psychology through user-generated content is a smart way to gain more sales.
Did one of your customers share an unboxing video? Reshare it. It might be enough to persuade others to try out your brand, too. Track your Twitter mentions and share positive testimonials. You will want to show your target audience that you have happy and satisfied customers.
Gone are the days when people feel satisfied participating only at the end of the sales process, where they make a purchase. This time, customers want in on a brand’s journey, too, as this gives them a sense of empowerment. According to a study, customer participation can help drive brand loyalty by increasing customer satisfaction.
So, engage your customers by seeking their feedback. Conduct surveys regularly. Listen to what your target audience has to say on social media. Then, adjust your processes accordingly so your buyers will know you did take to heart their opinions.
Injecting Science into Sales
Convincing people to buy your products or engage your services is both an art and a science. You have to rely on compelling storytelling that is backed by science to enable people to react and relate to your messages.
Insights from psychology and neuroscience will give you a competitive advantage, like the sales techniques introduced here. Some may sound familiar; others, not quite. But they all share one thing: they are scientific, and they are proven to boost sales and drive customer engagement.
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