Contributed by Mike Marchev, CTC, author, speaker and trainer at mikemarchev.com.
I have always endorsed the practice of identifying one’s strength and focusing on making that strength even stronger or more prominent. Many sales professionals think it is time well-spent to isolate a particular weakness and focus on improving upon that lacking skill. I suppose there will always be two sides to that coin.
That being understood, I still feel that it makes good sense to avoid making needless mistakes when it comes to building one’s business by working with more profitable clients.
Mistake #1: Giving up too soon. It has been documented that a full 50% of so-called sales professionals quit after the first contact. An additional 25% quit after a second attempt at establishing a relationship. It often takes more than five contacts to gain foothold with a new account. 80% of new business will come as a result of your consistent but professional approach.
Mistake #2: Talking too much. Someone once suggested that good salesmanship had much to do with having “the gift-for-gab.” Personally, being a dyed-in-the-wool salesman myself, I am insulted with this prerequisite. In fact, successful salesmanship has very little to do with hearing your own voice. The key, if there is such a thing, is to get the other person talking. You become the listener. The next time you hear the sound of your own voice, ask yourself, “Is it time to stop talking?”
Mistake #3: Playing to the wrong audience. With nearly eight billion people soon to be inhabiting our globe, I can categorize the entire bunch into just two groups. Group one consists of people I can help. Group two consists of the other kind. That’s it. Just two. Your task is to find and introduce yourself to ONLY those whom you can help and those who want your help. If you spend your time, money and effort on trying to sway the wrong audience, you are exercising poor judgment.
Mistake #4: Selling out of your own pocketbook. What I interpret as expensive, excessive or overkill might not resemble your definition. A $5,000 vacation may sound like a lot of money to some people. To others, it amounts to “chump change.” Do not think for other people. Allow them to make their own decisions when it comes to spending their money.
Mistake #5: Not seeing your client as an annuity. It is only natural to get excited about making a $5,000 commission with a recent river cruise sale. But how would you feel with a $40,000 commission … or more? That is exactly what this river cruise sale represents over time. Seeing clients as an individual payday is a mistake. If you play your cards right, every client represents an annuity over many years to come.
If you envision every new client as a $40,000 potential, and not just as a $750 commission, you will find yourself handling the relationship much differently.
Mike Marchev, CTC, has been sharing his street-savvy views on sales and marketing for nearly 40 years. His recently published “More-On Series” of business development E-Books is now available. Email Mike for titles and special pricing for Travel Institute readers.
