Introduction to Most Common Sales Mistakes
According to HubSpot, only 17% of salespeople see themselves as being pushy. On the other hand, 50% of prospects think salespeople are far too forceful. Statistics like these should stop salespeople in their tracks. Could you be making mistakes without even knowing it?
With some know-how, it’s easy to steer clear of these common sales pitfalls. This article will uncover some common mistakes that salespeople make.
Not following up
Research by Marketing Donut indicates that 80% of the time, you need at least five follow-ups to close a sale. Sadly, the statistics also say 44% of salespeople lose out on sales because they don’t conduct more than one follow-up.
Facing rejection in the sales process can be emotionally draining. However, if you routinely give up too early, too many buyers could be slipping through your grasp.
Typically, buyers need time before deciding to buy, which is why it’s important to follow up on customers to raise the chances of a purchase.
However, constantly badgering the prospect may put off the buyer.
The key to successful follow-ups is usually knowing when and how to pursue, without driving the buyer away. Taking the best sales courses online can help salespeople learn the right follow-up techniques.
Doing all the talking
When meeting with prospects, too many salespeople eagerly dive into a one-sided discussion about their product or service’s features and benefits. While a healthy level of excitement about their offering is necessary, it’s usually a grave mistake to talk too much at the expense of dialogue.
Effective salespeople typically focus on asking the right questions, leaving more talk time for the customer. A study by Sales Hacker showed a positive correlation between the time salespeople spend listening to the buyer and win rates.
As you listen intently to what the buyer has to say, you develop a deeper understanding of the buyer’s pain points. Apply that knowledge to your pitch, and you inch closer to a win.
Trying to entice the buyer by exaggerating your offering can backfire. While overselling may bring some short-term gains, it usually leads to underwhelmed customers.
Misinformation will likely cause the customer to give your product an unfavorable review that can potentially cost the business. A survey by ReviewTrackers revealed that 94% of respondents decided against dealing with a business based on negative online reviews.
One important takeaway from most sales courses is that it’s important to develop trust and grow solid online reviews to seal more deals.
Preparation is often what sets the successful apart from those who just get by. Salespeople need to be fully prepared with all the information about the product or service they’re selling. It’s important to also know what the limitations are.
Being thoroughly prepared will allow you to give the buyer accurate information. You can also more easily answer any questions that the buyer might have.
Another central part of the preparation process is finding out about the buyer. Sales courses often teach that reaching out to the right prospect heightens the chances of success.
Investing time and effort into researching the buyer’s needs, online presence, and preferences can help you reel in more customers.
Not balancing your time
Chasing after the hot leads and closing deals is often a rewarding part of the sales process. However, if you focus only on completing sales and forget to nurture the prospects in the pipeline, you may soon hit a dry season.
Allocating your time across the entire sales funnel is often important to ensure success.
Apart from nurturing the funnel, there are other non-sales-related tasks that salespeople have to deal with. How do you balance your time between prospecting, nurturing, closing deals, and administrative tasks?
Below are some techniques to help improve time management:
- Use time management software like tracking tools.
- Improve prioritization of tasks.
- Complete the more difficult tasks first.
- Use online CRM tools to save time.
- Bunch tasks together; for example, reply to all emails at the same time.
There’s no one-size-fits-all solution to balancing your time effectively. Through some trial and error with different techniques, you can land on a strategy that best boosts your productivity.
Not learning from failures
Regardless of your training and experience, not all deals will end in a close. One mistake that salespeople often make is rationalizing and brushing past these failures. For example, blaming the company or lack of resources instead of focusing on introspection.
The best salespeople take every failure as a learning curve. Take the time to study what went wrong and work on potential improvements.
Sales managers can use failures as a training opportunity outside of sales courses to cement crucial skills.
Avoiding mistakes like not following up, overselling, or talking too much can improve the way you click with your prospects. Overcoming mistakes coupled with adequate preparation and time management is often the driving force behind successful businesses.