So you’re chasing your annual number, you have a number you need to hit and in order to get there, you have to close more sales. People ask me all the time how they can close more sales at year-end.
Every week, I put out a new video / blog like this one. I hope you click subscribe, because I guarantee they will help you. Hit “like” too and if you haven’t, buy my latest book, A Mind for Sales. Right now, especially as we move closer to the end of the year, having a mind for sales becomes all the more important. Let’s go through ten things that you can do right now to close more sales at year-end.
Simplify things for your customers. This may mean taking options off the table so it’s easier for them to make a decision. It’s your job to help them make a decision and make it faster. Don’t leave every single little decision up to them, because they may decide to just wait until the first of the year.
This is another big reason why you need to keep it simple. If there’s vendor paperwork or things to set up, set them up right away. Even if the customer is not ready to buy, that’s ok. As we draw closer to the end of the year, it’s important to be ready to respond immediately when they’re ready to move forward in the buying process. Go ahead and get everything qualified. Get them set up in the form and make sure everything is in place and ready to go.
3. Credit Terms
What do I mean by credit or credit terms? It can very simply refer to an extension of additional credit to them. This looks like them being able to pay in 30 days or 45 days or whatever it might be. Credit terms might mean that you’re going to allow a little higher allowance for them to buy on credit terms.
This might include changing the discount that you offer. Any number of things will work as long as it’s ok with your finance department. Determine your options and do so before you get close to the end of the year. If you wait until the end of the year, it’ll most likely be too late to have those conversations.
4. Existing Customers
There is always more business to be had from your existing customers. Are you looping back with them frequently? Are you having enough conversations with them? Are you walking them through all of the same things that you’re walking other customers through?
It is amazing the number of salespeople who look past business from existing customers because existing customers means just asking them for referrals. Existing customers may have other divisions. Exhaust all of your options in all departments. There’s other people out there within your existing customer base.
This is like product extensions. For example, a customer may buy this item from you, but not this item. Well, why not? Have you asked them?
Again, I’m amazed at the number of salespeople and customers I talk to that don’t realize the full breadth of items being sold, because they’re used to just buying one item. Most likely, the customer buys the other item somewhere else. There are various extensions that you have that your customer is unaware of. Keep in mind that just because you are aware of them does not mean your customers are aware.
6. Supply Chain
Talk with those people who supply you and find out who else they sell to. Remember, if they’re in your supply chain, they’re probably in someone else’s supply chain. Talk to the people in your supply chain; this can very easily be other customers and usually isn’t that big of a deal. It’s amazing what you can get just out of your own supply chain because people know you.
7. Old Customers
This may be a customer who stopped buying from you several years ago, but they’re still familiar with you. Maybe they stopped buying from you and you thought the reason why they stopped was reason “x,” but it was acutally a completely different reason.
Reach back out to your old customers. I don’t care how far back you go; keep going further. There is business to be had.
Selling up comes in a number of different ways. It might be selling greater quantity or additional items that go. Whatever it is, up-selling can be so easy. It’s probably the easiest way to increase the size of an order because of an order for customers who place an order for “X.” It’s very easy for them to do “X” plus two, or “X” plus three.
What’s the difference between up-selling and cross-selling? Up-sell means it’s an item that fits right with that particular item whereas cross-sell means it’s an item that is adjacent to that item. For instance, the customer may buy this item, but not this item.
I recall working with a janitorial supply company who had lots of customers buying cleaning supplies for floors, but none of them were buying cleaning supplies for windows. They were buying their window cleaning supplies from somebody else. So, we simply started cross-selling them to those items. It’s so easy now to do this.
You may also cross-sell with other partners, people within your supply chain, or other salespeople with whom you partner with on various things. Look for ways that you can cross-sell.
It’s the fourth quarter but a short one, because of all the holidays that fall within it. From the get-go, you have to hustle! I can’t stress this enough. You must continually hustle. An order left on the table and not taken at the end of the year is an order lost. You cannot afford to let that happen. It’s just a matter of hustling to get the jobs done.
Pick up my two latest books, High-Profit Prospecting and A Mind for Sales. Once you read them, let me know what you think by dropping me an Amazon review. Also, check out my website for tons more resources and information to help you be successful. In addition, we have The Sales Hunter University, a great online program that you should get familiar with to help you close more sales at year-end.
Copyright 2020, Mark Hunter “The Sales Hunter” Sales Motivation Blog. Mark Hunter is the author of A Mind for Sales and High-Profit Prospecting: Powerful Strategies to Find the Best Leads and Drive Breakthrough Sales Results.