Often, a business suffers losses not because of tough competition or low demand for its products. In most cases, the reason lies in unsuccessful marketing or weak sales.
When sales fall, some managers tend to blame external factors: economic fluctuations, the political situation, or seasonality. But it is important to first consider the problems within the company itself.
Together with a B2B marketing agency from Dubai, we will analyze several common sales mistakes and discuss how they can hinder the success of your business.
Main Sales Mistakes
Sales are different, which means that the mistakes in them are also very different. Therefore, we have divided them into several main categories. Let’s start with the most important ones.
Mistake 1. No specific plan
A manager who wants his business to prosper always has a clear plan. And a clear plan requires a specific goal.
The goal of “becoming a market leader” seems too vague: no exact deadlines, no criteria for assessing success. When there is no specificity, it is difficult to achieve results.
In this case, the goal should sound like this:
“Capture 25% of the market within three years by increasing the number of new clients and improving the quality of service.”
From here, you can push off and make a plan. Determine what steps need to be taken to achieve this goal. Example:
“Develop a new product line by the next quarter.”
“Increase the range of products by 5 times.”
“Conduct monthly training for the sales department.”
The same is with finances. A business does not simply set itself the task of “earning a profit of 2 million rubles per year,” it breaks this goal down into time periods: month, week, and day.
If the actual figures differ from the planned ones, this is a signal for action. For example, if daily revenue is decreasing, it may be necessary to take certain actions: change the sales strategy or improve marketing.
Mistake 2. Lack of necessary tools
A big mistake of many entrepreneurs is the lack of necessary tools for working with clients. These include:
CRM system. It allows you to store data on clients, both current and potential. In addition, CRM allows you to track all stages of sales.
A high-quality website. It should contain complete information about products and services. The site should be convenient and attractive to potential buyers so that clients have a desire to make a purchase. It is also important that the page contains customer reviews, both positive and negative.
Sales funnel. This tool allows you to visualize and analyze each stage of the sale, from the first contact to the conclusion of the deal. The mistake of many is not to use the funnel at all or to use it incorrectly. This leads to the loss of potential clients and a decrease in sales.
Mistake 3. Problematic product
Poor quality. If the product is of poor quality, no amount of advertising will increase the number of successful transactions. People will soon realize this and stop buying it. Improving quality is the best solution.
Limited assortment. If customers have no choice, they will go to competitors. You need to satisfy different needs and preferences. For example, if you offer clothing, it is important to have different sizes, styles and colors so that the customer can find something suitable. Expanding the assortment will help retain customers.
Too expensive. High prices often repel customers. If the product is too expensive, its quality should justify the price. If you want people to buy a high-priced product, you need to offer better quality, prompt delivery or an extended warranty. Otherwise, you will have to work hard on marketing.
What mistakes do salespeople make
A company’s profit depends on many factors, including the people who sell it. Therefore, sales mistakes often occur due to the actions of employees. Here are some of the most common mistakes sales managers make:
Not familiar with the product
Sales will not be successful if the manager does not know the product they are offering. The specialist must carefully study the technical specifications and be able to clearly describe the features and benefits of the product.
However, simply memorized specifications will not always help in the work. It is important to show how the product solves the client’s problems. For example, how it helps increase profits, reduce costs, attract customers or save time.
They do not know how to sell themselves
There are few unique products on the modern market. Often, what one company offers can be found in many others. Salespeople make a big mistake when they immediately start talking about the company’s offer. Instead, they should first demonstrate their knowledge and expertise in this area.
Show the client that you understand them and know how to satisfy their needs. After the person is convinced of your professionalism, you can talk about the product.
They defend their opinion too persistently
Another mistake is persistence in proving your case to the client. This approach can lead to disagreements that will scare the client away.
It is important to remember that the manager’s job is to sell a product or service, not to prove that she is right. Instead of arguing, it is better to admit that everyone can have their own opinion and focus on solving the client’s problem with the help of the product.
Not analyzing the client’s needs
Sometimes managers are in too much of a hurry to sell the product and therefore skip the stage of determining the client’s needs. At the start, it is especially important to understand what exactly the buyer needs. For this, you can use different methods, for example, the SPIN selling technique.
If you were unable to accurately determine the client’s needs, focus on those benefits of the product or service that may be most significant for him.
Talking more than listening
Talking a lot and listening little is a common mistake among sales managers. When an employee spends most of his time talking about the product, he may not grasp the real needs of the client.
You need to learn to listen carefully to the buyer. This will help the seller better understand his needs and make an offer that will really solve his problems. The manager must ask the right questions and carefully analyze the feedback.
Customers are often willing to share why they need a particular product. Knowing this, a manager can effectively present the product, emphasizing its advantages in terms of benefit to the buyer.
Not preparing for a meeting with a client
Only a few managers seriously prepare for meetings with clients. The majority ignore this important stage, which significantly reduces the percentage of closed deals. If you do not determine the client’s needs in advance, it is difficult to successfully refute objections, competently answer all questions and convince of the need to buy.
Effective preparation before the meeting allows you to more confidently present a product or service and better focus on important points for the client.
Not meeting the client’s expectations
Customer satisfaction depends on how much reality meets their expectations. If managers promise more than they can deliver, clients are disappointed. Experienced sellers try not to create unreasonable expectations. They understand that a disappointed client is unlikely to return for new purchases.
Selling the product, not the customer’s benefit
Customers are usually not interested in how long a company has been around or how many awards its managers have received. Technical details of a product can also bore them. However, they may be interested in how exactly your product will help meet their needs.
Different companies and even different people within a company have their own needs. A manager should not sell the company as a whole, but to a specific person. If he or she talks about the specific benefits that the customer will receive from the purchase, this will significantly increase the chances of successfully closing the deal.
Not analyzing the results
Managers are often focused on fulfilling their personal sales plan. They strive for certain indicators: sales volume, number of products or contracts concluded. Their main goal is to achieve these indicators and receive bonuses.
However, many do not analyze why some sales were successful and others were not. Analysis of successful and unsuccessful deals helps to identify weaknesses and understand how to correct existing sales mistakes.
To summarize
All the mentioned sales mistakes have one thing in common: they can be prevented. It is important to treat each potential client with respect and listen carefully to what they say. Attention to detail and a personal approach will ultimately not only improve sales figures, but also help the business reach a new level. To get guaranteed results and a flow of hot leads, contact the team of professionals at WGG B2B marketing agency.