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How to Effectively Double Your Sales

Posted by Lauren Hidalgo on Fri, Mar 22, 2013 @ 09:45 AM

Medicare SupplementsWhen you think about doubling your sales you most likely think that it would take twice as much time and money spent prospecting and selling. However, according to Donal Daly, CEO of TAS Group, an agency focused on helping sales professionals be more productive and effective, that’s not always the case. They’ve identified that you can double your sales by making small incremental improvements to your sales process. Here’s what you can do to work toward doubling your sales:

  1. Pre-qualify your sales leads 20% more accurately. By purchasing higher quality leads you are less likely to be calling the people not in your target demographic. Take a look at what areas you have been successful and where you haven’t been doing as well. Create a quick profile of your ideal customer and target those specifically.

  2. Disqualify your sales leads 20% faster. At this point in your career you’ve learned to identify pretty quickly which prospects don’t need your product or don’t have the money to afford it. Don’t waste time with those false opportunities! Politely end the conversation as quickly as possible and move on to the next prospect.

  3. Close 20% more of your opportunities. Obviously, the more opportunities you close the more customers you will have, and thus the more money you will be making. However, where doubling or tripling your close rate is probably impractical right away, anyone can make a 20% improvement. The easiest way to do this is to stop trying to sell and instead listen for your “go-ahead signals” during conversations with prospects. Put aside a fear of failure and ask for the business.

  4. Increase the average value of each deal by 20%. There is a fixed amount of time and money connected to each of your sales efforts. Making two deals for $300 each takes far more time and effort than one deal for $600. Therefore, it’s important to constantly be aware of additional ways that you can help the customer. Maybe they might also be interested in a Final Expense or a Hospital Indemnity product during a Medicare presentation. This is not upselling; it’s providing a better service to your client.

Then numbers work out like this:
How much you’re selling now: $100k
After eliminating 20% of your bad leads: $120k (better use of time)
After disqualifying 20% more non-opportunities: $144k (better time usage)
After a 20% increase in your conversion rate: $173k
After a 20% increase your average total sales could be: $207k

For any questions or further discussion on improving your sales or the best lead companies feel free to contact your PSM marketer at 1-800-998-7715.

Please give us your feedback!
What other things have you done to increase your sales? Do you think these techniques would be easy to implement in your business?

 

Source: Inc.

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Tags: Sales Tips, Success Tips, Senior Market Advice, Assured Life Medicare Supplement, Equitable Life Medicare Supplement, Phoenix Remembrance

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