Tag Archives: Margaret Smith sales
June 24, 2020 Increase Sales with One Key Tool
One of the first rules in sales is this: Focus on the clients you ALREADY HAVE. It’s difficult to pull in a new client or buyer. That doesn’t mean you shouldn’t pound the pavement and attempt to find new customers/clients, but it DOES mean that you should put a little extra effort into the clients that are already in your pocket.
But that, alone, won’t help you reach your sales goals. What you need to do is engage is the simple (but often nerve-racking) practice of upselling.
Upselling might sound like an ugly word (you might think of a car salesperson saying “But for only $40 more each month, we’ll throw in a…”), but there IS a way to do it tactfully and honestly. Upselling involves introducing an improvement or an upgrade. You might upgrade to a faster laptop, a more powerful fishing boat motor, or a more durable set of kitchen knives.
I certainly don’t advocate selling a customer something that they genuinely don’t need. When you upsell (or cross-sell, which involves introducing a relevant but different product), do it with the customer’s needs at the center of your mind.
Why upsell? For one, upselling works 20 times better than cross-selling. Once potential buyers are fixated on a product, they don’t really want to be distracted by something else.
Secondly, your customer might not be aware of the benefits of upgrading to a different model. They might not realize, for instance, that a kitchen pan that’s $10 more than the one they are currently considering is known to last three times as long and tends to cook food more evenly.
Third, if your customer is already interested in a product, it doesn’t hurt to introduce them to a better model (again, if you genuinely think they would benefit from it). You’re already making the sale, why not make a better sale?
So, how can you tactfully and honestly incorporate upselling in your sales game? Try these five tips:
1. Arm yourself with knowledge.
If a customer is interested in a certain type of camera, for instance, be prepared to tell them about their full range of options and why the next model up is better. Anticipate questions and be prepared with candid answers.
2. Listen.
Be sure to listen carefully to your customer’s needs before trying to upsell. It could be that a bigger, better product is not necessary for this particular person. If that’s the case, do NOT push the customer into something they don’t truly need.
3. Make it easy.
If you’re in a retail setting, make sure the best products are prominently visible on the sales floor and easy to access for a demonstration. Customers should be able to easily tell the difference between a base model and the souped-up version.
4. Honesty is key.
Don’t fudge the facts. Don’t push a sale that won’t benefit the customer. Your potential buyers are usually savvy enough to see through an act and, if they’re not, they will wise up quickly once they realize that the product you sold them doesn’t fit their needs at all. Do you think they’ll send any friends or family members to you after that?
5. Be confident.
Upsell with confidence. You should be proud of the products you sell and stand by their worth. Let that confidence shine! (And if you’re not confident about the products you’re selling, it may be time to start hunting for another sales position!)
Try incorporating upselling into your sales strategy and see where it will take you. It’s the easiest way to increase your sales and demonstrate the full range of product opportunities to your customers. What’s holding you back?
For more in-depth sales advice and career counseling, please get in touch with Margaret today.
MARGARET SMITH IS A CAREER COACH, AUTHOR, INSIGHTS® DISCOVERY (AND DEEPER DISCOVERY) LICENSED PRACTITIONER, AND FOUNDER OF UXL. SHE HOSTS WORKSHOPS FOR PEOPLE WHO NEED CAREER OR PERSONAL GUIDANCE.
NOW LIVE: CHECK OUT MARGARET’S ONLINE LEADERSHIP COURSE.
Tags: better sales, Margaret Smith sales, Margaret Smith Twin Cities, trick to improving sales, upselling practices, upselling sales tactic
- Leave a comment
- Posted under Better Business, Sales
February 5, 2020 How to ACTUALLY Learn Something From Conferences
I know how it goes. You attend a professional conference (either by choice or because your company sent you), you learn a few things, you become motivated to make changes…and then you leave and neglect to follow up on any of it.
What good are these events if you never implement anything you learn?
It’s time to change the way we approach conferences. Start with the following four steps:
1. Do Your Homework
Before the conference begins, be sure to look up the schedule and note anything that appeals to you—relevant break-out workshops, lectures on interesting topics, events that might build your network. Going in with a plan helps you be more efficient with your time and prevents you from being roped into a lecture or workshop that might not actually suit your interests.
2. Ask Questions
Once you determine which sessions you’re going to attend, jot down questions you could ask the speaker/presenter. Keeping these questions in mind helps to deepen your relationship with the subject matter and keeps you engaged (if your questions are answered, great! If not, find time to ask them, if possible).
To dive deeper into a topic, ask follow-up questions to fellow attendees as well. Asking open-ended questions such as, “What did you think about [SUBJECT]?” or “What were your take-aways from the presentation?” will stimulate conversation and help keep the topic top-of-mind.
3. Find an Accountability Partner
There’s nothing like a little accountability to help you follow-through on committing to change. If you’re attending the conference with people you know, ask a trusted colleague (or colleagues—the more the better!) if they will agree to be your accountability partner. Say something to the effect of: “I’m really hoping to implement some of the things I learn this coming weekend. Are you hoping for the same? Would you want to do brief check-ins after the conference to make sure we’re both on track?”
Then, follow up! Schedule weekly or bi-weekly check-ins on your calendar (a simple chat over a cup of coffee will probably suffice).
If you’re feeling self-conscious about asking someone to be your accountability partner, try holding yourself accountable by scheduling—and committing to—self-check-ins. Set aside fifteen minutes every week, retrieve your conference notes, and see where you’re excelling and what areas need improvement.
4. Take Notes
Speaking of notes…take them! Jotting down your take-aways (and going over them shortly after the conference) will help you retain the information for longer.
Remember: Many speakers who present at conferences have valuable advice to share. You just have to be willing to listen, absorb it, and act.
Tags: business conference takeaways, get more out of conferences, learn from business conference, learn from professional conferences, Margaret Smith life coach, Margaret Smith Minneapolis career coach, Margaret Smith sales
- Leave a comment
- Posted under Changing Your Life, Goals
February 7, 2018 Why Everyone is Affected by the New Era of Selling
Whether you own your own business, you’re a solopreneur, a social media marketer, or in customer acquisition in a large firm, you’re in sales. You have a product or service. You want others to use it. It’s as simple as that.
Well…I wish it were that simple!
I worked as a sales manager at 3M for over two decades and saw a lot of changes…but those changes have accelerated over the past ten—or even five—years. Now, your potential customers can easily shop around and get to know your offerings and prices (and those of your competitors) before you even have a chance to reach out and engage them.
It’s also a social media-heavy marketing environment, and really hard to predict the next trend. Not to mention, with so many people elbowing for space on social media, it’s tough to get your voice heard.
It’s also a global society. You can hop on Etsy and buy a dress from a Japanese clothing company, or a pair of hiking shoes from Sweden.
In some ways, all these changes are great for consumers—they have a world of knowledge and products at their fingertips—but it’s not so great for small business owners or companies who are struggling to keep up.
HOW on earth do you approach sales in this new era?
I’ll admit, I’m not a marketer. I won’t tell you how to find your potential customers, but I will advise you on your approach once you find them.
Start with these five steps:
1. Believe wholeheartedly in your product
If you aren’t fully behind what you’re offering, it won’t sell. Potential customers are savvy enough to know when you’re not actually enthusiastic about the product you’re selling. Some of the most convincing ads I’ve seen on social media were for product that might seem ordinary (meals in a box, yoga pants, marketing webinars), but they were endorsed by very enthusiastic individuals who seemed to have a genuine stake in their product.
2. Pinpoint your audience with laser focus
Use data (and data analysts) to develop a deep understanding of who your audience is and it will be easier to find them and approach them. I’m talking not just about demographics (which is important, of course), but also your audience’s interests, their frustrations, and what makes them happy. Your product or service solves something. WHO benefits from your solution? When you know who, precisely, that is, you will feel good about selling them something that helps improve their life.
NOTE: You can utilize social media advertising to target people in a VERY narrow way. By having a precise understanding of your audience, you can take advantage of this ultra-targeted marketing.
3. Tell a story
If you’ve ever watched a crowding funding video on Kickstarter or IndieGoGo, you know that some of the most successful campaigns are ones that tell a story. It doesn’t have to be a personal story (although that can sometimes be effective); it could simply be the story of Jane Doe who travels for business all the time and can never sleep on the airplane…until she tried the Ultra Amazing Pillow!
When you tell a story in sales, you’ll want to make sure it feels natural (not over-rehearsed or awkward) and is relevant. Your story could be as simple as: “Mr. Jones had X Problem. Product ABC helped Mr. Jones in this way…”
4. Focus on education
This is the era of giving things away for free. Your customers will likely be used to getting free information (online newspapers, blog posts, eBooks, etc.), so why not take advantage of that mechanism? Offer a valuable (key word!) freebie and learn how to effectively use a sales funnel to turn interested individuals into paying customers.
5. Meet face to face
In our fast-paced, digital era, the most surprising “bold” move you can make is moving offline. Now, face-to-face interactions are more valuable than ever. It’s becoming a lost art to sit down with someone, look them in the eye, and tell them about what you do and what you’re offering. If you’re good at it, you will likely have an edge over nearly everyone else who is just playing the digital game.
MARGARET SMITH IS A CAREER COACH, AUTHOR, INSIGHTS®DISCOVERY LICENSED PRACTITIONER, FOUNDER OF UXL, AND CO-FOUNDER OF THE TAG TEAM. SHE HOSTS WORKSHOPS FOR PEOPLE WHO NEED CAREER OR PERSONAL GUIDANCE. YOU CAN VISIT HER WEBSITE AT WWW.YOUEXCELNOW.COM
Tags: better sales, engagement in sales, everyone a salesperson, everyone is in sales, honest sales, improve sales, Margaret Smith sales, Margaret Smith Twin Cities, new era of sales, sell your business, storytelling in sales
- Leave a comment
- Posted under Better Business, Communication, Sales
UXL Blog 