High Impact Actions

For sales leaders, everywhere

Many retailers use statistics to measure performance and results, and there are some constants that all retailers measure: Traffic, close ratio, average sale.  All are measurable, all matter, and all have specific actions to increase them.

There are retailers who add another statistic – sales per guest/dollars per opportunity/performance index. Whatever you call it, they all measure the same thing: Total revenue divided by total traffic. It is a combination of close ratio and average sale. It indicates how much every opportunity is worth to each salesperson based on what they do with it, and how well the store is doing. Since it’s a number that measures more than one thing, I have often worked with retailers to lean one way and develop a strategy toward either improving close ratio OR average sale.

Recently, I was working on a seminar for Furniture Row and thinking about this statistic close ration einstein again, and asked myself “Are there actions that improve both close ratio and average sale that would definitely increase performance index?” And yes, there are three: Sketch the room, make appointments to close, use financing for purchases.

As sales leaders, you want to direct your teams to the actions that will get the highest impact AND, since you can’t watch and focus on everything, you and your team members need to reliably and consistently execute the actions that get the biggest return. These do that. Take a look at your team and YOUR actions to direct these three actions and dial up the visibility and accountability.

And if you need help with this, call me. 877-663-9663.

Now, go help your team to sell something.

oxo,

Jody

Jody Smiling Photo copy

Ask Questions vs. Just Answer Them

For sales professionals, everywhere.

When I roleplay/practice with salespeople and play the part of the salesperson as a way of demonstrating the behavior I want them to follow, I am very conscious of my intention and behavior in the interaction: I am focused on what they are saying, use voice and body match, listen deeply and reframe their words and recreate their emotion, and ask more questions in response to what they say. These are all teachable actions and they all require repeated practice.
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The last one – ask more questions in response to what they say – is a critical skill to adopt and repeat. When I observe salespeople in role play or on the floor, I see that they TELL the customer something in response to what they say instead of telling and asking another question.
For example:
Customer: “Is this solid wood?”
Salesperson: “Yes it is.” ADD” Can you tell me what’s important to you about solid wood?”
I also find this step is lacking when discussing money. Example:
Customer: “Is $1500 the price for this sofa?”
Salesperson: “Yes.” ADD: “Will that price work for you?”
Know what you need to know and ask until you get it…including Asking for the Sale.
Now, go sell something.
oxo,
Jody
Jody Smiling Photo copy

“Their hand on the front door”

  For sales professionals, everywhere.   One of my very favorite top producing salespeople worked for Star Furniture in Houston for years. When she first arrived there, she leap-frogged over the longstanding #1 salesperson and never looked back. As I am always … Continue reading