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One of the things that people always ask me is that:
What is the secret to success, is there any one secret for success?
Really, there isn’t one secret for success, it’s many.
Yet, I want to simplify it and give you three simple elements that will empower you and give you that little edge you’re looking for.
So, the one thing I will assume you already have is what I call your business knowledge, and business acumen.
So being able to understand the business elements of the deal that you’re bringing forth.
How does it add value to the clients that you are serving?
Now, if that is the case, then here’s the other three things.
Number one, there’s something called industry knowledge.
You have to be aware and you have to research and understand the industry of your customer.
Not just the industry of your customers, but the industry of their customers too.
So, that you know, what are the pressures acting upon them and their customers?
So that you see how, what you have to set an offer can add value to the entire chain.
Second thing is about what we know is product knowledge.
Now, it goes without saying, that you really have to master your product, you have to master your understanding of your product and also understand the competitors, strengths, and weaknesses.
That also goes as a second must.
Last but not least is what we call sales knowledge.
And that’s your ability to be able to make that sale, to close the deal, and follow these selling steps, the various processes that allow you to get the deal coming where you want to go.
Now, if you know selling skills, but you don’t have the product knowledge or industry knowledge, it will fail.
If you know industry knowledge and product, but you don’t have that technique of being able to handle what we call a complex sale that also is going to be lacking.
But when you combine these three things together it really gives you that powerful combination.
I’ll share with you a story how personally, in a selling situation, I was able to demonstrate how these three things came together.
So, after one of my conferences, a sales person, in the audience, came to me and said: “Ramez, you know, I’d like you to talk with our general manager. I believe that your ideas can help us make more sales.”
I said: “Great, tell me more about your company.”
So he described to me a company that had over 20+ outdoor salespeople, and does a certain level of turnover.
Now, of course, to me, I was simply asking that question to qualify the opportunity.
Now, as that happened, I said: “Tell me more about your company, and tell me more about your issues or challenges”.
So, he told me that they have X amount of salespeople, and they’re mainly are selling some of the highly commoditized, low profits, high volume type of products.
And I got to ask him about the production: “Tell me about your production facility, you said that they have three lines”.
And he said that: “One of the lines is that 99% capacity. The other two are about 20% capacity”.
So I said: “Fine, great”
And then we just went through the meeting, I went through the meeting.
And as I met the general manager, I asked him if you questions.
Of course, build rapport, and I asked the question about:
“Hey, what are your goals? What are the challenges that are stopping you from getting to where you want to go?”
Now, the one thing is that: “Hey, we’d like to double sales this year.”
Now coming from working with an FMCG, and actually running my own business within a big FMCG company.
I was responsible for growing sales.
So, I asked him, I said: “Well, if you double sales today, can you make the widgets that you are producing, can you produce them?”
He looks at me and he goes: “No, I don’t think I can produce them.”
I said: “Well, what would need to happen in order for you to produce them?”
And he goes: “We’ll have to invest in retooling the factory.”
Now, of course, if that one production line that everybody sells the items is completely maxed out.
If the same mix of sales comes, they won’t be able to produce more.
So, I said: “How much it will cost you?”
He says: “Several hundred thousand dollars”.
And I said: “Wow, you know that definitely is an investment”
And of course the other option was to help his sales team, make more sales of the value added items.
And that’s how I was able to help that company out.
But again, if I didn’t have the business acumen and understand how an industry would work.
There’d be no way I would have been perceived as a consultant.
The more like someone trying to go make a sale.
And remember selling is understanding the customer needs, understanding their challenges, and making sure that you give them the solutions that go with that.
So, again, this is Ramez with the sales tips of the week.
More to come, make more sales.