How to Increase Sales

Use This Formula to Increase Sales

Increase Sales - Patrick SnowThis is the third in a 3-part series: The first article was: Successful Entrepreneurs, the second article was How Do I Get New Clients?

It’s important to analyze why people purchase products and services from one company over another.

If you ask buyers, most say, “strong relationships.” People buy from people they like. If you want to increase sales, you need to develop more solid relationships.

The entrepreneur who becomes the person others want to do business with will ultimately get the biggest results.

The Sales Success Formula I Suggest You Use:

Trust (T) + Respect (R) + Need (N) + Ask (A) = Money ($)

Like every formula, each part must be fulfilled to reach the desired outcome. Trust is crucial in order to close sales. Your prospect may respect your company, and he may have a need, but if he doesn’t trust you, he won’t buy from you.

To build trust, show your prospect you care about his success. When a buyer sees you care, then he’ll trust you. The best way to earn this trust and respect is to let your prospect share his problems with you.

Another way to build trust in the relationship is to ask the buyer about his or her interests. Questions can include asking about his or her family, children and hobbies. Asking these Find More Time - Creating Your Own Destinyquestions will give you a better idea of the buyer’s interests, passions and priorities.

Respect is another key component to this equation. It’s possible to trust someone but not to respect him. The best way to build respect is to follow up on action items as promised. Always respond in a timely manner. Show the prospect you value his business.

Is There a Need…

All too often, entrepreneurs forget to ask whether there’s a need for their services or products. It’s vital to qualify need as quickly as you can.¬† Without it (regardless of how much trust and respect you’ve established), you’ll never close the sale.

To discover a prospect’s need, ask whether he’s in the market for your product or service. If not, move on to the next prospect and qualify that person’s need.

This is an excerpt from my book “The Affluent Entrepreneur”.

As a Motivational Keynote Speaker, I can speak on this subject or adapt my subject to your audience.

Contact me the next time you need a speaker for your event.

 

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