Sales — Getting More At Bats
The far majority of sales end with a no. Move on to the next guy.
The far majority of sales end with a no. Here’s the punchline — You move on to the next guy. Most people make the same mistake and become attached to the prospect of the big name or the big sell. The fact is, humans make human decisions.
If Johnny, who is the CEO of a large corporation and is looking for a new SaaS product turns out to be friends with the owner of a software company, Johnny will more than likely deploy that software. If you’re on the opposing side of this, the only thing to do is to move on to the next prospect.
Or if one of your contacts is fancy and thinks what you are offering is beneath him/her, than you’re going to get a no.
The key to selling is simply by doing it — By hitting up every single prospect you can find and having 4 of them say yes. Granted, there are strategies and tactics that go along with sales such as social and presentation skills, pricing tactics and the big one, key contacts such as decision makers. But broken down, it’s all about getting at bats. Every time you step up to the plate, whether its a strike out or a home run (more often than not it’s a strike out), you’re getting the opportunity to actually get a yes.
Sell to the sellable
Much like everything, don’t go too far to one side. Analyze the scenario you’re in, the circumstances of the business, your contacts humility and move fast. Much like investing, one of the key principles is not to put all your eggs in one basket. It’s the same with selling. Spread your assets (time), work everyone and don’t dwell when you get a no.. Because you’re going to get a lot of them.
An old rule of sales is the 80/20 rule. In general, 20% of your customers represent 80% of your sales, meaning 20% of your time produces 80% of your results.
This is often ignored and time is wasted trying to please or convince every single customer your product/service is right for them. If you follow this rule while getting your ‘at bats’, you’ll learn to evaluate each scenario as you receive rejection. Analyzing characteristics of your 20% that drive revenues will allow you to develop a knack for identifying other top 20% customers quickly. — Ultimately delivering in the long run.
Move fast and stop romanticizing about the the big name sell. Get more at bats and maximize value and profits from customers.