WHAT IS THE MAXIMUM SALES CLOSING RATIO?

There isn't a standard maximum possible number of prospects who can be sold out of those who are personally contacted. The maximum number or "sales closing ratio" is limitless, even above 100 percent!

We have heard it before. In strategic marketing, in sales, or in customer service, people will say at some point, "This is the best we can do!" I'm delighted if it's my competitors saying this! Because good strategic marketing and a positive attitude can win the day.

Increase the maximum sales closing ratio beyond one hundred percent through strategic marketing, product development and sales:
Attitude is the biggest factor in improving anything, especially sales. Improve that, and sales closing ratios will improve! There's not much to say here. This is a straightforward concept. But this is the most important issue of all. In the long run it may be the only issue in reaching very high closing ratios.

For the next step let's assume for a moment that a salesperson is really at the top of their game in one area. Is it worth trying to improve that last few percentage points? If a salesperson's time is super valuable then their extra effort might be better applied to an area with greater potential. Consider an organization's prospects, products and services, and support.

Prospects are a huge factor. Consider doing a better job of finding a greater number of better prospects and pre-qualifying them before dedicating valuable time resources. There are ways to pre-determine who's more likely to buy. Time value can be maximized by meeting only with the most valuable prospects. Less worthy prospects may be saved for when advertising responses are slow, or less worthy prospects could be traded.

Now let's consider product development. I've sold some products where I booked 98% of my prospects. I've sold some products where I struggled endlessly to get a meeting! Creating a competitive product or service is definitely a function of strategic marketing and product development!


Consider repeat business in the future from the same prospect. In this sense a sales closing ratio can higher than 100 percent! I'm not 'playing on words' here because I've seen organizations and sales people who pay less than adequate attention to this area. Such organizations truely have a closing ratio that's less than 100 percent. Further, this accomplishment isn't automatic. It must be a realization of successful strategic marketing and sales. It requires a shift in thinking where customers are treated more like prospects.

Talk about pre-qualified prospects, who's a better and more pre-qualified prospect than a current customer? Selling more than 100 percent requires that an organization provide its prospects with excellent follow-up and service after the sale, excellent communication, suitable products and services for future purchase, and to deliver as promised -- more than promised.

Regards
NM!!!

Closing the Sale...

Getting a client to say, "Yes" can be one of the most difficult things to do, or it can be as easy as merely asking for the order. If you have taken the necessary steps and completed the groundwork, then you may find fertile fields for sales growth await you.

"Nothing happens until someone sells something!" This is so true! You can be the best manufacturer with the highest quality products, but if you can't sell your products, then you won't get to make very many.

Let's look at some things you can do to help close the sale and get the client to say, "Yes."

* The first thing you must do is listen very carefully and ask open-ended questions so you can help your clients identify their needs. You are now prepared to show them that what you are selling will meet those needs.


* As you are asking questions, listen for signs that they are ready to buy. Some examples might include, "How long would it take to get one?" "Is this the latest model?" or "What terms will you give me?"


* Never answer questions with a simple "Yes" or "No." Be prepared to ask questions of your own. For example, the question about delivery could be answered with, "When do you need it?" You could answer the question about the latest model with something like, "Would you like the latest model or would you be interested in something else if we could save you some money?" If you choose your return questions carefully, they can help lead to closing a sale.


* Sometimes it is helpful to set a deadline to get a person to make a buying decision. If you are planning a price increase, encourage your customer to place the order by a certain date to take advantage of the reduced cost. This sends a message that you are working with them to get a good deal—a message they will appreciate.


* Set yourself apart from other salespeople by becoming your customer's new best friend. Constantly look for ways to serve your customers better. Try to be a resource for the latest information, and be ready to help them do a better job. Rather than being known as only a salesperson, share your knowledge and become known as a resource. This will create added value to your customers.


* Be accessible. If they can't find you when they need you, they will look for someone else.


* Be enthusiastic, and let it show! You can do this with your voice, facial expression or the way you move. A kind, genuine smile is an invaluable asset for a salesperson. People want to do business with those who are upbeat and positive. If you enjoy what you are doing, it will show!


* When closing your sale, avoid options of "Yes" or "No". or questions like, " Did you like the product i am offering?" or "Would You like to go in for this product?"- the Chances of the prospect saying "NO" are higher. Always consider offering alternatives. People like to have choices. Examples- What Did you like in the product i am offering, the quality or the value add?" or You can use this to your advantage by saying, "Which of these choices would you like—A or B?" With this close, you are likely to make a sale of one kind or another. Even if you are selling a single product, you can still offer choices of color, delivery or terms, for instance.


* One final technique is the authorization close. When you have finished your sales pitch, ask if the customer has any additional questions. If he has none, make a check mark on the sales contract where the client needs to sign. Pass the document over to him and say something like, "If you will just authorize this, we can get started right away." The word "authorize" is less threatening than the word sign, so customers are more likely to sign when asked.

If you are prepared for it, closing a sale can be a natural part of your conversation with customers. Work to refine it so that it grows easily out of your discussion. Establish a relationship with your clients. Believe in what you are selling, and implement some of these techniques. Then watch your sales grow!


All The Best
Regards
NM!!!