20. An average company loses 10% of its customer base every year
Don’t be discouraged! This is just a lesson in prospecting and staying ahead of your sales pipeline. Stay active and continuously reach out to new prospects and past clients to keep your pipeline full and your team looking ahead.
Simply put, keep prospecting and don’t take it personally. If you lose more than 10%, you might want to explore further to discover why that is. However, if you ask for referrals, market consistently, keep in touch with your existing client, and make the most of the new opportunities that the company and the market might provide for you, the 10% will be a manageable number.
Keep your database accurate and purge it yearly. And keep your marketing department busy with driving new eyes and opportunities to your sales team…and keep helping them to capitalize on each new prospect.
16. Salespeople who seek out and use referrals earn 4–5x more sales
A whopping 91 percent of customers say they would be willing to give referrals for companies and products they are happy with, but only 11 percent of salespeople ask for them!
Salespeople Yikes! These are crazy numbers! And yet, as I read them I know that AS a salesperson, this is my weakest area. Maybe it’s habit, maybe it’s discomfort asking for more than the sale that was just closed, maybe it’s a lack of skill or language to ask with confidence. In any case, it needs to be an essential element of the sales process and of sales training and coaching.
We can focus on marketing actions all day when the closer and more intimate action of asking for referrals lays dormant. Let’s give this a shot and measure the results. Make it a 90-day experiment with frequent reminders, inspection, discussion. This will change when sales managers take this on as a priority and share results with the team.
#14 Continuous sales training = 50% higher net sales per employee
Salespeople who continuously train bring in 50 percent more sales than those who don’t. It’s a no brainer—keeping sales teams up to date and involved means more sales.
Salespeople Even veterans need to sharpen their skills, techniques, and perspective as the market and the prospect/client changes. Retail and showroom people are experiencing less foot traffic and need to learn the skills of outreach sales actions to stay current and to drivetheir business. And as people and technology change and buying processes evolve, sales training is as critical as ever to stay sharp and on top of your game.
Sales Managers Your team is a reflection of you…and they are following your lead. Sharpen your training and coaching skills as you develop their selling skills. Raise your company standards and train to the new level of expectation. There is no END of the journey to keep your team sharp and in front of their game, so get busy and have fun!!