Brian Will, Serial Entrepreneur & Industry Leading Business & Sales Management Consultant
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In this blog based on the The Dropout Multi-Millionaire Podcast, we'll get into the art of analyzing prospect responses and bringing a new meaning to sales success. You'll learn why there's value in a "no," and how to reclassify a successful pitch with getting an answer rather than just a "yes."
Many sales professionals aim to make a sale or secure a "yes" from their prospects. However, this approach can often lead to disappointment.
Why? Because in reality, most sales presentations end in a "no."
So, what's the solution?
Change your objective. Instead of chasing a sale, focus on getting an answer.
What's considered a win in a sales pitch? Getting one of three responses: a "yes," a "no," or a clear direction. Here's how they translate to success:
Too many people in sales cling to unproductive leads, because they perceive them to be potential sales in the future. However, this is often a misconception driven by several factors:
For sales managers, it's vital to educate your team on identifying real opportunities and eliminating those that are unlikely to convert.
Let’s say you didn’t get a “yes” the first time around but you didn’t get a “no” either. To separate the future "yes"s from the future "no"s, make sure you can establish a clear direction.
This involves setting a specific timeframe for follow-up or assigning a task that leads to the next interaction. Make your follow-up plans crystal clear, ensuring that they're specific and result-oriented.
While a “no” is a clear sign to move on to a new prospect, your close ratios still need to remain in your desired range.
If you start speeding up the process and blowing through leads and your close ratio goes from 15 down to 10, that’s an indicator that you’re missing some opportunities and something isn’t right with your process.
Go back and take another look at your sales process to figure out what you’re doing wrong.
The key here is: move quickly through your leads, but don’t sacrifice your close ratio to do so.
In the dynamic world of sales, your sales success isn't solely determined by securing a "yes." A "no" or a clear direction can be just as valuable. By understanding the significance of each response, you can streamline your efforts, enhance your close ratio, and ultimately, boost your earnings. Remember, your new definition of a “win” is just getting an answer. So, go out there, talk to your prospects, get some answers, and master the art of sales success.
If you’re ready to break free from the status quo and join the ranks of the mavericks, the rebels, and the renegades who refuse to conform and instead build multi-million dollar businesses, subscribe to The Dropout Multi-Millionaire Podcast wherever you choose to listen!