Sales potential is much more than just a figure indicating the maximum amount of sales from prospective buyers of your product. It represents a target; the ultimate aim. Successfully unleashing the potential of your sales team can reap huge benefits for any business. Here at JWPS, we’ll show you how.
1. Identify your Ideal Customer
When you’re starting a business, your idea of an ideal customer may well be anyone who will pay for your products or services. But as your business grows, you will need to put much more consideration into who you are selling to, and try to understand what it is that makes them want to buy. It’s incredibly tempting to simply want everyone to be your customer, but we know that some customers are better for your business than others, and it’s definitely worth focusing on them if you want to increase your sales.
2. Understand Market Potential
Exploring the ways to effectively utilise sales resources will always include understanding the potential of the market. Here’s the big question – which of your existing customers are the most valuable to target? The potential here can be vast; successful sales teams know that the amount a current customer or prospect could buy from the business is imperative to improving strategic and tactical sales. In some cases, over 80% of a company’s revenue could come from only 20% of their customer base. There is, therefore, a massive potential for improved targeting of existing customers.
3. Up-Selling and Cross-Selling
Introducing customers to other products or services within your portfolio is an excellent opportunity not only to increase sales, but also to benefit them directly, and up your customer service game. Up-Selling and Cross-Selling are mutually beneficial when executed correctly; giving your customers a better service and increasing your revenue from existing marketing channels. Either way, the business objective is to increase the volume of orders and let your customers know about other products. To succeed with both, salespeople must understand exactly what their customers’ value, and then respond with products or services that meet those needs.
4. Change Sales Behaviour
It’s widely documented in sales research that customers often look out for three key attributes in sales people; knowledge, credibility and professionalism. Knowledge is a very precious asset in sales, and engaging in learning over the course of your career will ensure your success and keep you one step ahead in your field. Credibility builds likeability and trust; both of which are important to establish before you start the discussion about your product or services. Professionalism is also a valuable attribute; a dedicated professional will naturally command more trust and respect than a casual amateur.
5. Recognise the Benefits of Sales Training
Even the best sales team can learn something from training. The sales dialogue has a unique purpose, and even the most engaging, chatty salesperson may struggle to close deals without intimate knowledge of the sales process. Professional sales training will help to effectively identify areas for development within the existing sales function, and enable business to meet and exceed measurable outcomes and results.
Unleash Your Company’s Sales Potential Today
JWPS provides a diverse range of sales and growth based services. Our aim is to do everything we can to help you reach your sales potential; that’s what we thrive on and that’s what we do best. Why not book in for a free initial consultation with us and we’ll tell you more? Call us on 0845 644 0637, what have you got to lose?