Christmas has arrived, the great night of the year. Nothing compares to the happiness and despair of watching your competition gobble up your sales like a Christmas tree, even on Christmas.
"How can I outperform the competition?" is a question that most business owners and salespeople, including yourself, wonder about daily. And it's a crucial one! Because every time you outperform a competition, it shows that your target market values your product or service. Returning customers increased income, and increased market share are all indicators of your company's credibility.
This article will go through the top ten tactics that can help you sail over your rivals.
Let's get started.
1. Make it simple for sales-ready leads to contact you.
When customers today come across a product they like, they first go to the brand's, product's, or company's website to do some preliminary research. This makes your website a crucial doorway to valuable leads, as it allows you to share more information, communicate with clients, and convert them into lifelong customers.
As a result, you mustn't let them slide through the cracks and make it easy for them to contact you for further information. Perhaps even a meeting! Using intuitive Call-to-Actions (CTAs) and online forms is one of the simplest ways to engage with your potential lead. Visitors can quickly exchange their contact information and engage with you if you properly arrange them around your website.
2. Improve your website's conversion rate.
We talked about how to get the information you need from prospective leads. But what about website visitors who aren't yet ready to start a business conversation? Interactive chatbots can assist you in this situation.
You may send proactive messages to your website visitors and start conversations by running chat campaigns. This will aid in the conversion of visitors into prospective clients. You may encourage them towards a specific action by automating these chats to be delivered at the perfect time. This can involve downloading e-books, white papers, and other materials. You can also persuade them to schedule a demo or a free trial.
Creating good landing pages is another strategy to increase website conversions. This will inspire your visitors to trust your brand and dig further, similar to how a friendly salesperson encourages clients to look at all of the merchandise.
3. Shorten the time it takes for a lead to respond.
According to studies, salespeople who contact their leads within one hour are roughly seven times more likely to qualify them than those who get them an hour later. So, once a leader reveals their contact information, respond swiftly because the chances are stacked against you if you wait.
This implies you can't wait for sales managers to manually distribute inbound leads to salespeople. It may contribute to the growing lead wait time, which causes leads to become cold quickly.
Using your CRM platform to shorten the process is one method to be more agile with new leads. It would allow you to assign all incoming leads to the appropriate team and salesperson automatically. This will enable salespeople to contact prospects quickly and even meet the five-minute average response time buyers demand.
4. Make the correct leads your top priority.
When you start obtaining a lot of leads, calling people at random or based on intuition isn't the best way to close more sales. That intrigued lead who downloaded your brochure and looked at the pricing page three days ago is more likely speaking with one of your competitors right now!
As a result, if you don't distinguish between hot, warm, and cold leads, you'll either miss out on opportunities or hold on to leaders that are unlikely to convert.
A CRM with AI capabilities can predict the likelihood of each lead converting. It assigns a score to your leads based on how they interact with your company—websites visited, emails opened, links clicked, etc.
A lead's score rises every time they engage positively with you (you get to choose the limits). The score will drop if they unsubscribe or do not take the needed action. This is beneficial to you:
All at once!
5. Divide and conquer
Leads arrive in your system from various sources, and each one is at a distinct level of the sales funnel. When you choose a one-size-fits-all messaging strategy, your leads will begin to receive mixed messages, feeling undervalued and misunderstood. Instead, they would work with a company that pays attention to them and knows their needs (which could also mean your competitors).
So, how can you effectively nurture leads at various stages with the appropriate messaging and get them to buy from you?
Personalization is the answer. Your leads are more likely to be responsive and convert if they believe a message was crafted specifically for them.
Using a comprehensive CRM system, you can efficiently segment your leads and provide targeted communications that resonate with them.
6. Come up with outstanding sales pitches
While personalizing emails is an excellent idea, there's a danger your messages will go overlooked or even unopened.
Let's think about that for a bit. Every day, your leads receive many emails, including some from your competitors. And it's possible that your email was buried in their inbox. Maybe they read your email but don’t have the time to react.
In the end, sending a single email is insufficient. Even two follow-ups are inadequate. Before buying from you, a prospect must hear from you at least seven times. When you're juggling many options, it's easy to lose track of when it's time to follow up with each one.
This allows you to send emails and text messages (SMS) at times when your prospect is likely to be available. Timely reminders also nudge you to make phone calls.
7. Make sense of a clogged pipeline
When you're working on numerous deals at once, it's difficult to focus on the most critical ones, and it's all too easy to overlook high-value agreements. When these prospects believe you aren't giving them the attention they need, the customer experience suffers, as does your trustworthiness. They begin to have reservations about the after-sale services and look for other options to consider.
Wouldn't it be more convenient if you could see all of the active offers in your pipeline organized by deal size and progress details? With an AI-powered CRM, you get exactly that. It examines all of your transactions, learns from previous data, and provides actionable insights. You receive a bird's-eye view of your whole pipeline, along with tags that indicate which offers are 'likely to close,' 'at-risk,' 'trending,' and 'gone cold.'
8. Make decisions based on data.
You must be creative in your sales approach and outreach, from a robust sales process to a unique phone call or voice mail, to attract your prospect's attention in a competitive market.
It's also important to take a step back and assess your development. Not only do you want to know if your ideas are working or not, but you also want to know why they are working and how you may duplicate your success. You can create sales and marketing reports to help you figure out what's working and what's not.
However, you often have very little time to prepare reports since you are busy supporting your staff, attracting and maintaining people, and developing strategies to extend your client base.
9. Instantly generate quotations, contracts, and invoices
It's difficult to remember the exact price of various pricing plans or items in a flash when you're juggling multiple pricing plans or products. Returning to a prospect with a different price quote each time is not only embarrassing, but it also causes them to question the post-purchase experience and tilt toward your competition.
It's even worse when you have to completely rework the documentation every time there's an issue. As a result, sales cycles are lengthened, opportunities are missed, and, not to mention, competitors are ecstatic!
The Cost, Price, Quote (CPQ) option can assist you in keeping current price information for products within the CRM. With current pricing, you can generate error-free documents in the CRM, such as price quotes, invoices, and sales contracts, in just a few clicks.
10. Be Constantly Closing
The importance of networking in sales cannot be overstated. You will meet a lot of individuals who are interested in your business when you visit numerous trade exhibitions, seminars, and other networking events, whether online or offline. And you'll need a way to keep track of all of those interactions in one location. You can keep your notes after the event, but there's always a possibility you'll forget anything important.
After each conversation, you can enter the details of your prospects into a simple mobile CRM software that syncs with your desktop. On the fly, you can preserve information from your meeting on the fly, such as your name, contact information, and key pointers. The nicest thing is that you can 'always be closed' and start-up where you left off from your primary system!
The true competition encourages you to keep innovating and being inventive in your approaches. If you miss out on a deal, don't give up hope; instead, come back stronger and turn your worst nightmares into the lion's share of a delicious Christmas cake.
- Blog written by Anushka Trivedi