You want to close more sales!
In selling there are two ways to close more sales, there is the easy way and the hard way.
Your job in selling is to take your customers down road to the close. Unfortunately it is not always as easy as that but let us suppose for the moment that it is. You have a number of customers in a month, let us say 40, and you close 8 of them, then your strike rate would be one closed sale every 5 customers or 20%.
Your strike rate is an interesting statistic to watch. Under normal circumstances it will remain the same from one month to the next and even one year to the next. This principle depends very much on the number of items you expect to sell in a month. If you are selling small items, stationary for instance, you can get a clear reading of your strike rate each month. If you are selling larger items, factories for instance, then you may only sell one or two in a month and your strike rate will have to be read over a longer period to get real meaning out of it.
Your Strike Rate is a reflection of your ability to sell, your skills if you like. And if you don’t change your skills your strike rate will remain the same.
Your target will obviously be to increase the number of closed sales and there are only two ways to do that, the easy way and the hard way. The hard way is to increase your strike rate by developing better sales skills. Much of my work is to help people do this and with focused effort, concentrated training and practice you will be able to increase your strike rate by 50 and sometimes even 100% or more. This will take time but it is worth it.
The easy way to increase your number of closed sales is slightly different but can be done today with the same selling skills. Have you guessed what it is?
Selling is a numbers game. If you don’t improve your selling skills your strike rate will stay the same but if you simply increase the number of prospects you get face to face with, you increase the number of closed sales. Just like that!
Let us say that instead of seeing 40 customers in the average month, you get to see 80. Your strike rate at 20% stays the same remember so you close 16 customers instead of 8.
It’s that simple. With no added skills just a little hard work and a few new techniques you have the opportunity to double the number of closed sales.
Just imagine how well you could do if you could increase the number of customers you see and improve your strike rate.