Is it possible to achieve better sales results and increase your sales by saying no to sales opportunities? You bet it is! Here’s why: Not every sale is created equal. Some leads and opportunities are low in value, both in revenue and in margin or profit, whereas other deals have great potential in both areas. Plus, not every customer is created equal.
Research has shown that approximately 25 percent of people (and businesses) will pay a premium for a high-quality product or service. These are usually your ideal customers, by the way.
At the other end of the spectrum is the price-focused person, who makes most, if not all, of his or her buying decisions based on the price of a product. These individuals account for about 25 percent of buyers or consumers—and they are usually the most difficult to deal with.
This bottom group of people tends to be high maintenance. (You know who they are.) These are the people who will grind you for a nickel or dollar on every single purchase and then complain over the tiniest problem. They call you more often than your other customers, and they are very seldom loyal because they are always looking for a better price.
On the other hand, your top customers are usually the easiest to deal with. They are much more loyal. They rarely have problems, and more often than not, any problems they do encounter are easily resolved.
The problem is that the bottom 25 percent sucks up valuable time, and they prevent you from finding more high-value customers to add to your client list.
Make room for top clients. Here’s my suggestion: Limit how many low-value customers you sell to and increase your efforts to find high-value customers. I won’t say that this will be easy because it won’t. However, you will improve your margins and profitability, reduce your stress and aggravation and increase your sales by investing more time finding customers who understand and are willing to pay for the value of your product, service or offering.
The key to achieving this is to keep your pipeline filled at all times so you won’t feel compelled to sell to every Tom, Dick and Harry who asks for a quote. If you can accomplish that, you will find that you will be able to make more high-value sales to fewer clients.
Sign up for The Lead and get a new tip in your inbox every day! More tips:
- 4 More Steps to Cloning Your Best Clients
- How Many Customers Do You Really Need?
- The Customer Is Not Always Right
Kelley Robertson helps sales professionals master their sales conversations so they can win more business at higher profits. Get a free copy of “100 Ways to Increase Your Sales” and “Sales Blunders That Cost You Money” at http://www.Fearless-Selling.ca.