The killing or serious maiming of a sale happens out there every day. For nearly 30 years I have worked with, managed and coached a lot of salespeople. It is always a sad day when I witness a sale being butchered by an experienced sales executive needlessly. What a waste of a good opportunity!
9 times out of 10 it will have something do with ‘The Universal Law of Need’. This simple ‘law’ has meant the death of more salesman than Arthur Miller ever envisaged. The ‘law’ infers that the more desperate your need is for something to happen, the less likely it is to occur. And no more so than in sales my friends. Especially when you are relying on a couple of key opportunities in your sales pipeline to convert to save your bacon!
When the pressure is full on to get ‘that sale’, desperation can and will take over. There is nothing like the acrid smell of desperation. When we become desperate our perception of ourselves change for the worse, our sales pitch is not dynamic and most likely the sales prospect will sense this fear that we are now carrying into the sales conversation. Bad decision-making follows closely behind fear.
Even in the best-case scenario and the sale is won, victory will come at an extra cost to the organisation in some form;
- To force the sale – a lower sales value will be achieved than could have otherwise been expected
- To force the sale – More concessions will be made to the prospect than necessary to get the sale – This will reduce the actual sales margin to the company
- To force the sale – Over-promises will be made in terms of delivery or what can be expected from the product or service etc. Always a recipe for disaster
In the worst-case scenario the sale is dead. A new customer and potential future lead source thrown away. Personal and organisational brands damaged. Revenue lost and cashflow hurt!
There is no known cure for a dying sale but there is a prevention. A simple remedy that begins before your sales process ever kicks in. It’s called continuous Prospecting to keep your sales pipeline full. The ultimate reason why salespeople kill or maim a sale is because they have failed to consistently add Qualified Prospects and Opportunities to their sales pipeline.
This failure to keep the pipeline full will in time put pressure on salespeople to perform with the limited opportunities already in their pipeline. A drying pipeline will make executives force a sale, cut unnecessary deals or over promise the customer. It will also adversely affect the dynamic within the sales team. Moral and relationships will suffer over time because of this pressure to perform with a very limited pool of prospects.
We know if sales teams learn to Prospect correctly, they will have no problem closing out new customers! And just as important to the organisation, they will not transform into potential sales killers. We have led Sales Teams so we get the pain of constantly improving Sales Performance to hit bigger sales numbers consistently. We are so confident our training methods will improve your sales pipeline – we guarantee it.
Give us a call today at 01 556 3049 or visit www.jordanwolf.ie to find out more about creating a strategy for your company to keep your sales pipeline full of new business opportunities!