Losing nearly-done deals may occur more often at small companies, which typically don’t have the same focus on sales or the resources of larger competitors.

Business owners frequently expect the sales team to operate with little guidance, says John Palumbo, chief executive of the Sales DNA Institute, a sales-and-marketing management firm in Jacksonville, Fla. Their attitude, he says, often is: “They should know how to do all this.”
We asked Mr. Palumbo, who helps companies, including family-run firms, revamp their sales strategies, about ways small companies can ramp up their closing rates. Here is some of the advice that he shared.

1. Confidence is your No. 1 asset.
Many sales people at small businesses often have charisma, the gift of gab and presentation skills, but they falter when it comes to asking for the money. They may not believe enough in the product or its value. Or they may worry that people will say no and they’ll take it personally.

Gaining a deep understanding of the customer and the product or service they’re selling can help build confidence, Mr. Palumbo says.

“Sales people want to go out there and work for a company that will teach them what to do. They are begging for help. Most owners don’t understand that,” he says.

2. Integrate the word ‘only’ into presentations.
Having only one of something often creates urgency in a customer’s mind. Why? When supply is abundant, customers may see no need to hurry to buy. But for a one-of-a-kind item, often the reverse is true.

“The word ‘only’ is probably one of the most powerful selling agents when it gets to the close,” he says. “Good sales people can create a one-of-a-kind use on every product they’ve got.”

Auto dealerships do this when they have only one kind of car on the lot that you want – for example, a white model with leather seats and satellite radio. Customers often will close sales themselves, he says.

3. Don’t wait to hear the word ‘yes.’
Many sales employees wait for the customer to say, “Yes, I’ll take it.” But many people don’t say it. So a good sales person says, “Do you have any other questions before I start writing this up?”

When the answer is no, the sales representative begins filling out the contract.

“The word ‘no’ becomes a positive,” he says.

Again, Merry Chistmas and Happy New year

From the RealEstateYucatan.Com Team!