5 Sales Strategies Every Entrepreneur Needs to Know

Sales is the lifeblood of every business. Elaine Brindamour, Director of Operations at Soco Sales Training Pte Ltd, gives 5 Sales Strategies every entrepreneur needs to know.

You would probably agree that having a great product or service does not guarantee sales. If you have a terrific offering and are still struggling with sales, it’s time to take a look at your sales strategy.

If your sales “strategy” consists of passively waiting for customers to visit your place of business or your website, it’s time to start implementing these 5 essential sales strategies.

Too many entrepreneurs go through the sales process of demonstrating their product or service without asking for the sale.

#1 Know Your Customer

You need to be clear on who your target audience is and what problems they are trying to solve. Do you have an avatar of your target audience? If not, create one. Be clear on the demographic and psychographic of your potential customers so you know where to find them and how to speak to them.

Once you know who your target customer is, you need to know the challenges they face, how they overcome these challenges now and if there are gaps you can fill with your services.

#2 Craft Your Pitch

When you need to say what you do, it’s great to have a short and punchy ‘phrase that pays’. For example, my phrase when dealing with entrepreneurs is: I help small businesses owners make big sales by helping them generate more leads, differentiate from competitors and close deals faster than ever before, through our online sales training and customised coaching programs.

There are some essential elements of a good pitch. It needs to be concise and clear. You should be able to explain what you do in sixty seconds or less. Your pitch needs to be targeted. This means it should be directed at a specific market or audience. It should name whom you help. Lastly, a pitch needs to be powerful so that you can make an impact on people and get some results.

With so many similar product and service providers out there, it is essential to build strong relationships so you stay top of mind with prospects.

#3 Build Relationships

We’ve all heard the saying that people buy from people they know, like, and trust. With so many similar product and service providers out there, it is essential to build strong relationships so you stay top of mind with prospects.

If attending networking events is part of your lead generation strategy, don’t attend once and say “that didn’t work”. Commit to attending at least 3 times to build credibility and stronger relationships with your prospects.

You can also build relationships by sending your prospects valuable information to them. An example would be dropping them an email and saying “I saw this article and thought of you”. You don’t want to be the person that is only there when you want money.

#4 Overcome Objections

Let’s face it, not everyone is going to sign up for your product or service without first having a few questions. The key is to know which are your most common objections and how you overcome them.

When someone says your product is too expensive how do you respond? If they say they are happy with their current service provider and don’t want to switch do you just say “okay” and never bother them again?

It’s essential to have written down your top 5 most common objections and how you overcome them. We have an Objection Handler Blueprint you can download for free to help you overcome the most common objections. Click here!

#5 Ask for the Sale

Too many entrepreneurs go through the sales process of demonstrating their product or service without asking for the sale. Asking for the sale doesn’t have to be scary. Find different ways you can ask for the sale without being pushy. You could try one of the following:

How does this sound to you?

Can you see this working for your business?

How would you like to proceed?

What do you need from me to proceed?

We only need a 50% deposit to get started.

Find the questions that work for you to move your sale forward.

Now you know the secrets, start selling effectively today!

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