How Most Companies Fail: Converting Potential Sales to Actual Sales
It can be so frustrating to have leads in your business, but for them not to turn into sales. If it happens once or twice, you may brush it off, but if it’s becoming a trend, it’s time to take action, don’t you think? Your team may be working extremely hard, which can make it hard to understand why you’re not seeing the results that you need. At Turnkey, we’re committed to helping businesses find solutions that work. Here’s a look at why your company may be failing when it comes to turning potential sales into actual sales.
Why Your Company is Not Converting Potential Sales to Actual Sales
There are several reasons why your company may not be achieving the sales it wants or should be achieving. Take a look:
Insufficient Product Knowledge
If your sales team doesn’t have a full understanding of the products or services they are selling, customers may not feel that their questions are being answered effectively. Product knowledge is key for salespeople to close the deal. Without deep knowledge, that final sale won’t happen. While this can be an annoying problem, it’s easy to fix.
How to Fix It
Conduct comprehensive training. Give your sales team the training they need to get the job done. Product training sessions should cover the key features and benefits of the product or service you’re trying to sell.
It may also help to create a centralized hub of information where your sales team can go to look for answers to popular questions. This can give them the confidence they need to find the right answers.
You can even encourage your sales team to use the product themselves so they can get first-hand knowledge of how it works. They may also come up with questions that they can answer, so they can be prepared when clients ask.
Ineffective Sales Pitch
Your sales team may not be closing the deal because they’re just not selling it the right way. An ineffective sales pitch can kill a sale even before it gets off the ground.
How to Fix It
Make sure that the sales pitch is tailored to the audience. It should address the needs and concerns of your client. Don’t rely on a one-size-fits-all approach. Customers want to know how your product is going to directly impact them and make their lives better.
Your sales team can also demonstrate credibility. They show their industry knowledge as well as share case studies and client testimonials from previous satisfied customers.
Be sure to keep it short. Any lengthy pitches can quickly lose the interest of your audience. Stick to the key points, it will reflect in your sales.
Poor Time Management
If your sales team is not using its time wisely, it can lead to missed opportunities and sales conversions. Not being able to properly manage the workload can lead to tasks being overlooked.
How to Fix It
Set achievable goals for your team. This will allow them to focus on what needs to be done and when it needs to be finished.
Offer time management training. Some people are not good at managing their time because they just don’t know how. Provide them with training so that everyone is on the same page when it comes to being efficient.
Hold scheduled check-ins. If your team knows that they will have to answer about their tasks at a given time, that may be incentive enough for them to get the job done on time.
Inconsistent Follow-Up
If you want to make the sale, you need to follow up appropriately. Not doing so can cause prospective clients to choose a competitor’s product.
How to Fix It:
Set reminders for your team to follow up on leads and potential deals. Some people just need that extra push.
Have a follow-up process. Develop a clear process for people to follow up on their leads at different stages. This will allow your team to get into a flow of how things should be done.
Personalize communication. When you establish a relationship and personalize communication, people will feel connected to you and your product. By personalizing your communication, you are making people feel as though they know you and your product, making them more likely to do business with you.
Not Working Fast Enough
If your team doesn’t act fast enough to follow up on a lead, someone else will. It’s that simple. Some people just check their leads when they feel like it. They don’t make it a priority. When this happens, sales don’t happen.
How to Fix It
Make those follow-ups a priority! Be sure to follow up accordingly so that you don’t lose a sale. It’s something that is so simple, but so important!
Poor Website User Experience
If a prospective client goes to your website to find out more about your product, what will they find? Will they have a positive user experience? If your website is not easy to use and does not give the right information, you will lose your leads. People want to be able to find what they need, when they need it. If they can’t, you will lose a sale.
How to Fix It
Conduct an audit of your website. Be sure that your website loads relatively quickly, is mobile-friendly, and is well-written. Information should be easy to get. Users should also be able to contact you easily if they have a question or want more information. If you address these concerns, you can help to maintain and convert more leads.
Lack of Structured Nurturing
Many people are not ready to make a purchase after their first contact. It can take a few tries to convert that interaction to a sale. Without structured nurturing, leads can go cold, or someone else will pick them up.
How to Fix It
Following up accordingly will help to give each client the proper nurturing that is needed to make a sale. This can include follow-up emails, texts, or calls.
Show your clients the ongoing value of your product. By continuing to show why and how their product will benefit them, they are more likely to want to close the deal.
Poor Engagement
Your sales team may be engaging with their clients, but they may not be doing it effectively. If they’re not building meaningful connections, it may be why they’re not making the sale.
How to Fix It
Optimize your message strategy to promote better engagement. This can help to create an exchange that can lead to sales.
Have your sales team do their homework when it comes to their prospective clients. What do they need? How can you solve their specific problem? Learn what these are so that your team can engage with them properly.
Do any of these scenarios sound familiar? If so, it’s time to take action so that you don’t miss out on any more leads.
Contact Turnkey Today!
The Turnkey team is here to help you improve your sales conversions. Let us share important knowledge and strategies to help you get the job done. Contact us today to learn more!
