2022 has arrived, so it’s time to set up your year for the sales and negotiations that lie ahead.
Having already spoken to numerous businesses, one of the major priorities I’m hearing is “we’re going to dial up our marketing”.
This is great, and necessary, and I’m also doing this.
It’s important to invest time and money into your marketing efforts, like upgrading websites, new brochures, marketing strategy, branding identity and branding strategy, lead generation, campaigns etc.
Marketing is also a long-game. It’s unrealistic to expect that you “dial up marketing” and you are instantly rewarded with leads of the right caliber for your business.
However if you do all the right marketing disciplines and they are executed with competency, it’s likely you’ll have more people interested to speak with you.
Then what’s your plan?
Without a planned approach to what happens next, you’re leaving things to chance, which can be an expensive and very risky game. You may as well take your marketing investment and light it up in a pile of smoke if you don’t have a plan to convert the marketing leads on the back end.
Remember, marketing is only one part of the equation, sales is the other.
And much like children and fighting (referring specifically to my 5 & 7 year old’s) you can’t have one without the other.
In hindsight, that’s probably not a great example, given it’s negative, but hopefully you get my drift:)
To increase your revenue, consider these strategic elements that will help to realise your objective.
Sales & Negotiating strategies:
1. Talk to a lot of people, consistently.
My KPI for meeting new people each quarter is 30.
It started out much higher years ago, however now I’m talking with more qualified prospects, rather than meeting anyone with a pulse.
2. Prepare for ALL your sales conversations and negotiations
If you wing-it, you won’t win it.
If you’re prepared to gamble each sales conversation or negotiation, then continue to make it up as you go. This is a terrible strategy that I see time and time again.
You’ll never regret being prepared.
3. Track your sales and negotiation opportunities
Track these in a CRM, not in your head and not in a spreadsheet.
I am obsessed with my CRM and would cry legitimate rivers of tears if I lost all that data. It tells me everything about my business and provides the clarity and forecasting required about future investment, scaling and growth opportunities.
Sales and negotiation are both essential business skills.
No one that I’ve ever come across, has regretted being a better negotiator or being skilled in sales. These are necessary skills that will see your business optimise revenue, increase conversions, improve leadership and enhance how you influence. What’s not to love about that?
5. Measure your activity
Leveraging your CRM allows you visibility of how business is running, from the start of the sales process (talking to people and meeting people) through to converting the opportunity (banking the revenue). You should also measure the number of: phone calls, meetings, new opportunities created, contracts won and lost.
By paying attention to the 5 attributes and being strategic about them, you’ll enjoy far more success than having accidental sales conversations and negotiations.