5 unbeatable sales tips to boost your ROI

Janine Griffiths
Sep 1, 2018 · 4 min read

It’s a race to the bottom in the world of business. In a split second, new competitors emerge, products similar to yours are released and prices take a nosedive as rival companies scramble to get a piece of the pie. So it’s little wonder that many companies struggle to make the grade when it comes to making those sales and scoring major contracts.

Things are changing fast too. Sales techniques that worked a few years ago may be out-of-date already. Experimenting with sales strategies that may or may not work is no longer an option. To get on top, you need to move fast and you need to know the basic tried and tested sales techniques which are going to improve your bottom line. Overnight success is unlikely, but the 5 tips we list below will help you to increase your ROI steadily.

1. Sell return on investment, and sell it to the CFO.

Sales people are complaining that while the pipeline may be full, the deals are taking too long to close. Perhaps that’s why the pipe is so full! What are the reasons for this? Many companies are reluctant to spend money trying new products or services without a guarantee that it will increase profits. The result? They are only willing to spend money when they absolutely see near-term financial payback and in many cases, the chief financial officer (CFO) will kill the deal.

The solution? Sell the return on investment. Sell the payback. And sell it to the CFO. Arm your salespeople with two things: a series of case studies that document the returns from using your product, and a well-defined ROI process worksheet. Work with the CFO to build the ROI case so that he or she owns it. This is the only way they come to believe it. Make it their idea and instead of killing your deal, they will help you close it.

2. Forget USP. Determine Your Usage Cases

Instead of focusing on why your product is the latest and greatest, clarify the ways in which potential customers will use your product to solve specific problems and produce tangible results. Then, instead of touting the “benefits” of your product — which often fall on deaf ears, anyway — engage your prospects in conversations about what costly and quantifiable problems they now have, and how they might use your product or service to alleviate those.

And, as sales guru Mike Bosworth says, don’t tell them your offering IS the solution. You’re a sales “guy” and they won’t believe you. Instead, ask them if your possible solution might help them. If they believe it does, they have accepted your solution asthe truth. Then get them to tell you, in real dollar terms, what fixing that problem is worth.

3. Increase Sales Training. Use the 10% solution.

But don’t expect any one salesperson — even your superstars — to be 100% at every part of your sales process. They almost never are. But there is a way you can raise the level of every person in your sales organization — immediately.

Use this process adopted from W. Edwards Demming’s principle of optimization. Break your sales process into as many discrete, but meaningful steps as you can. For example, your steps may include cold calling, letter writing, identifying prospects, presenting, closing the deal, and so on. And so on. Find out who in your organization excels at each step, and have those reps explain their methods and mindset to the rest of your sales force. Do all the steps at once in a marathon session, or one step at a time. Either way, the results will be amazing.

4. Use the 80/20 Rule. And get rid of the bottom 20.

There’s no room in today’s world for mediocre producers. Hold each member of your team accountable for reaching two kinds of performance benchmarks: results measurements, which include not only revenue, but perhaps new accounts and repeat business, and action measurements, which might include prospecting calls, appointments, and new contacts.

Not every sales person will be a superstar, but every one should pay their own way, and then some. Salespeople who aren’t producing not only cost you money, they drag down the performance of your whole organization. You may not pay them very much, but why pay them anything? I suggest you do both yourself and them a favor, and let them go. Don’t worry about having an empty desk: that warm chair was an expense your company doesn’t need.

If you feel it isn’t fair to “dump” them, or if your sales cycle is too long to measure short-term revenue results, give the problem reps a 30-day plan to increase their level of activity in specific ways. That’s long enough to see an improvement if there’s going to be one.

5. Track your results and work harder

Most entrepreneurial sales organizations fail to analyze their efforts. They have no idea how much effort or money it takes to create a new customer. The only indication they have of whether salespeople are “doing enough” is based on the revenue numbers. The answer? Track both activity and results, and use the statistics you garner to quickly raise performance. Break your sales process into a series of meaningful steps, counting each time a rep completes one. Calculate averages and set a benchmark. And while you’re at it, analyze the percentage of deals that close whenever you complete that step. That knowledge can dramatically improve your sales forecasts.

Once you establish benchmarks this one’s a no-brainer — RAISE THE BAR. Yes, that’s right, because the fact is, revenue isn’t coming in fast enough. Do everything discussed above to improve your sales effectiveness and then do more of it. Just working smarter isn’t going to cut it. You’re going to have to work harder as well. And anyone who doesn’t want to? See number 4 above.

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