Business owners — regardless of the type of business they’re in need to spend a portion of their time on selling. There is an 80/20 rule that you should spend 80% of your time on meeting existing client needs and 20% of your time marketing and pursuing new opportunities. Are you following the 80/20 rule?
To make the 20% of the time you’re selling as cost effective as it can be, here are three ways to productively boost your sales:
- Upsell ~ If you have a client who already works with you, chances are they like what you’re doing, right? If you have other products or services available, make an offer.
- Sell an add on product ~ If you’re launching a new product or service, ask your current clients if they’d be willing to purchase it. Fast food restaurants always ask if you “want fries with that,” why can’t you ask, “you’re already using ABC, would you like to try XYZ?”
- Cold calling ~ There will come a time when you may be faced with making cold calls. However, if you’ve been cultivating relationships with current clients you may be better served to say to them, “Hey, since we’ve worked together for five years, you must like what I’m doing… I’d appreciate a referral.” If a client gives you a referral, make sure you send them a small gift or a card or some other token or appreciation. Some business owners offer a percent off an existing service if they close on a referral from a current client.
What can you do to implement strategic sales practices?