Sales are at the core of every business. Whether you are selling a product to a customer, or selling an idea to a potential client, you know that sales run the world. There are numerous effective sales techniques such as value-based selling, in which sellers charge based on the clients’ perceived value of the services, or cross-selling, in which sellers up-sell their products or services to existing customers. There are also fundamental principles of sales that sellers must not forget to implement, such as closing sales with confidence and pitching correctly to their target customers.
Let’s take a look at six serious sales errors sellers should avoid at all cost.
1. Identifying the buyer persona incorrectly
A buyer persona is the depiction of the ideal customer a seller can target. Buyer personas are fictional characters created based on market research. These personas embody the ideal demographics, behavior patterns and preferences. It is crucial for sellers to identify the buyer personas correctly in order to pin down their target market. Failing to do so may result in a loss of sales.
2. Lacking confidence
Sellers must sell with confidence in order to reflect the belief that their products and services are high-quality. Lacking confidence betrays the seller’s lack of preparation and absence of knowledge. It is therefore critical for sellers to be well-informed about their products and to confidently showcase the value of their services.
3. Having a bad sales pitch
A sales pitch is a seller’s proposal that attempts to persuade a client to purchase a product or a service. The sales pitch is a planned sales presentation strategy. Its sole purpose is to initiate or close a sale. Such a pitch must be informative and concise, lead the client down the sales funnel and ultimately close deals.
4. Lacking control
Sellers must always be in control of the situation in order to lead potential clients down the sales funnel. The sales funnel is a metaphor to describe the transformation of unqualified leads into qualified leads, and ultimately into customers.
5. Neglecting to close sales
All parts of the sale are equally important, from the initial sales pitch to the storytelling. Nonetheless, sellers cannot seal the deal without an effective closing technique. Therefore, neglecting to close sales is a serious mistake all sellers should avoid.
6. Reacting poorly to rejection
Rejection is part of a salesperson journey. All salespeople should learn how to essentially cope with rejection. Reacting poorly to rejection may demotivate salespeople and can put entrepreneurs out of business. It is therefore important to learn how to take ‘no’ for an answer, to learn from missed sales and to refine the sales techniques in order to increase sales.