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There are three ways to increase sales – and thereby boost commissions:
You can get more leads, so you have more opportunities to make your sales pitch. You can close more of the sales opportunities you DO get. Or, you can increase the size of your average ticket.
Obviously, the optimal choice is to do all three. So, let’s take a look at each of these goals and think of some ways to make them happen.
Getting more leads.
The key to getting more leads is an ongoing and consistent communications program – also known as marketing. If you use digital media, communicating with existing and potential customers can be relatively inexpensive. The key is to optimize the tools at your disposal and do a lot more than just advertise.
Whether it’s a newsletter, email, social media posting or other outbound message, it’s important to give your audience information they can use. You are an expert in your field and, if you think about it, there is a lot of information you can provide that people will appreciate. Promotional messaging can be included, but it should not be the focus.
Your website should serve as the foundation of your communications program. In most cases, the goal of your other campaigns will be to get the target to visit your website where they can get additional information, sign up for your newsletter or request a quote.
Your goal is to be the first company your target thinks of when the need for your services arises. That means they have to hear from you consistently, with brief messages that offer useful, interesting information.
Another key to successful communications is being able to prove you do great work with testimonials from satisfied customers. Getting a testimonial should be part of the wrap-up process for every project you complete. Whenever possible, document the results with photos and/or a video. Be sure you have written consent from your customer to use their testimonial in your marketing materials.
Close More Deals
So. Now that you have a quality sales lead, how do you improve your chances of closing the deal? Here are a few suggestions:
First, it’s important to be sure you have everything you need to make the sale now. That means you’ve prepared a solid presentation, have estimates ready and can provide financing, if the customer needs it.
Your presentation should be as brief as possible, without leaving any important details out. Your goal is to guide the customer to the level of project that will best meet their needs.
Technology can be your friend when it comes to creating estimates, showing various options and preparing the presentation itself. This is where images and even videos can play an important role. Show examples of previous projects that used the materials and products you are suggesting. Help your prospect envision their finished project and try, when appropriate, to move them beyond their original vision.
Don’t make the mistake of limiting your options based on what you may think the prospective customer can afford. Present your options based on the requirements of the job, not what you might perceive to be the budget they have in mind.
Increase Average Ticket
Increasing the scope of a project does not mean selling people things they don’t need. It’s actually the opposite. As an expert in your field, your job is to keep your prospect from limiting the outcome of their project by their vision of what is possible.
Remember, you’re talking about their home, so quality, value, efficiency and style all become important considerations. In some cases, they will be living with – or even IN – the result of the project, so this is not a time to give up the right solution to save a few dollars here and there.
Using better materials and adding services can be the difference between a job well done and an amazing outcome.
Presenting “Good, Better, Best” options is a great way to help the prospect expand their vision to include higher quality, added efficiency and better materials.
Finally, focus on the value of your offerings, not the price. Remember, a better project provides more than just an improved lifestyle, it can also put more money in the customer’s pocket, especially when the time comes to sell.
The Right Financing Program Helps You
Financing can help you increase your commissions in every way we’ve discussed.
You can get more leads because prospects know you have a variety of payment options that make it easy for them to afford your work.
If you’re waiting for a customer to arrange a loan on their own, you may lose the project to a competitor who offers financing and can close the deal right away.
Finally, the availability of payment options allows your customer to turn an average job into the project of their dreams.
Try doing what they do in the automotive industry – sell the payment, not the price. If you use the GreenSky® Loan Program, we will “over-accommodate” whenever possible to help you make your best work affordable.
Let’s say your “good” estimate is $10,000. GreenSky® may approve your customer for $15,000 or more. Now, they have the budget they need to get the work they really want, not settle for less. And you can point out that a small increase in the monthly payment can mean a HUGE increase in their overall satisfaction – whether it’s a better lifestyle, more efficiency, added resale value, or a combination of all of these.
Homeowners Want/Need Financing Because They:
Don’t make the mistake of “assuming” your prospect doesn’t want or need financing. Even people with cash in hand may prefer to keep it for other purposes, or have it on hand for options they may want.
There are many reasons why people use financing to their advantage. This is especially true when you are offering terms that are affordable and attractive.
Include Financing with Every Deal
In today’s consumer market, it is essential to offer financing on every sales call to every customer. These days, homeowners expect and deserve payment options that can make your very best work affordable.
Remember, you’re not just trying to satisfy your customer, you’re trying to delight them!
If you like the information in this post, you will enjoy learning even more about growing your business by reading our latest white paper, Scaling Through Sales Expertise: A Guide for Business Owners.