Articles From DFS Will Keep You Right Up-To-Date on Business. For the benefit of DFS Authorized Dealers, our articles section will include fascinating information that will help you grow your business and run it more profitably. Articles How to Make More Sales Boost Your Revenues By Selling More to Existing Customers How to Make More Sales Finding sales prospects isn't usually the hard part of selling. It's "closing" that can drive you crazy. You know the excuses. They want to shop around a bit longer, they're not sure they can afford the price, they need to get approval from a superior. The list goes on and on. Your challenge is to find ways to close prospects at a higher rate, and thereby speed growth and increase revenues. Fortunately, a number of tools exist for improving your close rate. These tools are essentially techniques for enabling you to put your best foot forward and thereby build trust with prospects more quickly than otherwise. Among the techniques are the following: Attract high-quality prospects (prospects likely to buy). This means focusing your promotional literature so it appeals to your target market. If you charge premium prices, focus on your quality and service, and avoid references to low prices. Above all, focus on customer benefits, and use clear writing. Establish credibility with clear, high-quality presentations that demonstrate command of products and familiarity with your marketplace. Credibility may be based on literature, along with overheads or slides. The challenge is to quickly communicate that you know what you are doing, that you do it well, and that the prospect should want to be your customer. Make your proposal irresistible. Make sure it is well written, clear, concise, and targeted at the prospect's needs. Explain how your proposal will solve the prospect's most pressing problem, be it the need for speedy delivery, flawless product, or ongoing support. Follow up to answer questions and stay in front of the prospect. It is important to simply stay on the prospect's "radar screen." This may mean sending along information in support of your proposal, stopping by for a meeting with other members of the prospect's team, or other steps to reinforce your interest and sincerity. Finally, don't forget to ask for the order. It is surprising how many sales people forget this simple step! Asking the prospect when you can expect to get started often helps speed the sales process along. © Copyright 2000-3 New England Business Service, Inc. Boost Your Revenues By Selling More to Existing Customers Psst. Want a sure-fire way to rev up your sales that won't cost you a lot or take a huge amount of time? Try selling more to your existing customers. You know how long and expensive it can be to win over a new customer--between advertising, sales calls, and approvals. With existing customers the process can be much quicker, smoother, and less costly. Remember, existing customers already know you and what you can do. Your challenge is to learn about additional opportunities within the company, and go after them. If the cost of sale for an existing customer is so much lower than for a new customer, why don't small companies go after their existing customers more aggressively? Because they have been conditioned to grow their customer list, and because they simply may not realize the potential that exists in obtaining repeat sales from existing customers. And bringing in new customers is sometimes more exciting for sales people than expanding sales to existing customers. Don't interpret this to say that small companies shouldn't aggressively go after new customers. The purpose here is to suggest that substantial growth lies in repeat sales to existing customers, via the following techniques: Stay in touch with existing customers to learn their ongoing needs. Inquire into their challenges so as to discover needs they have that you can fulfill. It may be that someone in another department has a problem that one of your company's products or services can solve. It is only by being in touch with customers that you learn about such opportunities. Try to find up-selling opportunities --not only more of the same, but larger orders and new features. A satisfied customer is a great candidate for expanded sales. The customer has respect for your capabilities and ability to deliver. The customer will listen to your pitch, and likely tell you about possible obstacles--limited budgets or opposition from another department or, even more valuable, the existence of a competitor. Then, you are in a position where you can help solve the problem--perhaps by offering a quantity discount or throwing in some additional service that will convince others in the company that you should provide more of the product or service. Let existing customers know when you come out with a new product or service. Regardless of whether they buy, they can provide feedback, and may become buyers for the new product down the road. Seek out leads from existing customers. They can often provide referrals to others in their companies or to individuals associated with other firms they do business with. It always helps in soliciting a prospect to be referred by someone the prospect respects. Existing customers represent a potential gold mine--not only for the present, but for helping expand your company's future. © Copyright 2000-3 New England Business Service, Inc.