19. Retaining current customers is 6–7 cheaper than acquiring new ones
It’s not a new sales enablement statistic, but it’s just as true today as it was in the past. It’s cheaper to keep your current customers happy than to spend time finding new ones.
Is follow up a scheduled part of your weekly sales actions? Do you ask ‘What’s next?’ with each sales opportunity that closes? Like asking for referrals, staying connected with current clients is low hanging fruit (I dislike that phrase, but it works, doesn’t it?), and doing both will likely produce a 15% increase in business without relying on the company to drive new prospects to you. Make it part of your workweek and practice with other team members before you make any ‘warm’ calls to clients.
If there is encouragement for salespeople to do this, then it must be a priority for a sales manager to check on the actions and the results they are achieving. Be prepared to practice with your team and help them to develop ‘learned dialogues’ that make keeping in touch with clients easier. Knowing that there is value in this sales silo is not as good as taking actions to mine for those opportunities….as actions are the only things that produce results.
17. Only 13% of customers believe sales reps understand their needs
Take the time to listen. Too many buyers complain that salespeople do not fully understand their needs and problems. You cannot sell a solution for a problem you don’t know about.
It is said “Customers don’t care how much you know until they know how much you care” and listening deeply is a fundamental skill for every salesperson to take on as a process of continuous learning. Forever. Take it on as a practice, like meditation and yoga. Find different ways to learn questioning skills – as a form of communication, connection, and problem-solving – and not just as a selling skill. Practice asking “Tell me more about that…” in EVERY conversation. Practice BEING inquisitive and interested. Practice asking questions to take a conversation deeper than surface level and see what happens.
AS a Sales Manager, BE the example of listening skills and practice. Ask yourself:
• Do I ask questions to help my sales team members to discover solutions or do I tell them what to do?
• Do I consciously practice developing MY questioning skills with my salespeople, with support people, with customers?
• Do I fully appreciate the skill of asking questions and deeply listening to responses?
Is there room for me to grow in this area? Am I willing to take that on?
#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!!