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FILLING UP THE
SALES FUNNEL:
12 TIPS FOR EARNING CONSISTENT REVENUES - AND COMMISSIONS - ALL
YEAR ROUND
BY Colleen Francis
Many sales reps and managers complain that they can't create a
consistent
flow of revenues or commissions month after month. Instead of a
nice,
straight line increasing consistently over time like an upwards
pointing
arrow, they find themselves staring repeatedly at sales results
that look
more like a hockey stick: nothing for two months, a sharp
increase for a
month or two, then back down again to nothing a month later.
So what can you do to keep your sales funnel full of leads, to
ensure a
consistent, reliable flow of revenues all year round?
Ninety-nine times out of a hundred, a lack of consistent
revenues - the
"hockey stick syndrome" - is caused by a lack of consistent
prospecting. A
failure to prospect on a regular basis will inevitably result in
irregular
revenues, and inconsistent commissions. It's that simple.
This is especially true when we're doing well. It can be so easy
to forget
about prospecting when we're wrapped up with following a dozen
or so hot
leads, who are demanding lengthy proposals and multiple
meetings, conference
calls, demonstrations and references. But this is precisely the
time when we
need to be prospecting, to ensure that steady sales flow doesn't
suddenly
dry up.
Yes, prospecting can be a difficult and, for many people,
daunting task. The
simple fact is, not all sales reps like doing it. But I've yet
to meet a top
sales professional for whom prospecting hasn't played a pivotal
role in
their success.
And let's face it, prospects don't fall from the sky. We have to
work at
getting them consistently, so we can close sales consistently.
After all,
even if you've mastered all the questioning, closing and
objection handling
techniques in the world, you'll still almost certainly fail if
you don't
have any prospects to use them with!
So if you find prospecting always somehow slips to the bottom of
your "To
Do" list, here are 12 Tips to help you ensure your sales funnel
is
consistently full of leads:
Sell more products to existing customers. This can include
selling
additional quantities of the same product, selling add-on
services or
products from your existing portfolio, or introducing your
existing
customers to a new product they might be interested in. To get
started, plan
to stay in touch with your current customers through a
combination of direct
(phone calls) and indirect (email, direct mail) methods about
once every six
weeks, with the goal of selling them additional products or
repeat orders.
Just don't go overboard, or you may cross that magical line
between
persistence, and stalking.
Set a goal for the number of networking events you will attend
each month,
and the number of new people you'd like to meet at each event.
Then don't
leave until you've collected that many business cards.
Reward yourself for closing new business. Treat yourself to a
trip to the
spa, your favorite Bordeaux or dinner out at that great little
Italian
restaurant. Remember: what gets rewarded, gets repeated.
Take a look at opt-in email lists. Set up a targeted email
marketing
campaign to acquaint potential new customers with your company
or products,
then follow up by phone.
Ask your current customers for referrals. The key is to be as
specific as
possible. For example, don't just adopt a generic, "do you know
anyone who"
approach. Instead, make a list of all the companies or people
you'd like to
meet, approach any existing customers who might have a contact
at those new
prospects, and then simply ask: "Mr. Customer, I've been trying
to get hold
of the VP of Marketing at ABC Corporation - you don't happen to
know them,
do you?" If it's one of their business partners or associates,
or even just
a firm that's in the same industry or building, chances are your
customer
will know the person you want to meet, and will probably be only
too happy
to make the introduction.
Go for a walk or drive around your territory, and take a look at
who is in
the neighborhood. Then, try making some face-to-face cold calls.
The change
of perspective can be refreshing, and you never know when you
will find
business in the least likely of places.
Make a habit of having lunch, coffee or breakfast with at least
one new
person each week. Share ideas, and give them any leads that
might help them
first.
Write articles for relevant on-line or print publications your
prospects
might read. It's not as hard to get published as you might
think, and once
you've been published once, it only gets easier. Just make sure
to retain
full rights to your articles by not being paid to write them.
Then, once
they've been published, send an email or mailing to your
prospects and
clients inviting them to read them. Plus, try sending your
articles to
larger publications, too - trust me, they don't bite, and if
your article is
accepted, you can't beat the added credibility and visibility.
Volunteer to speak at trade shows and conferences. As a rule of
thumb, you
should speak at every trade show where you exhibit. This will
increase your
credibility, and drive traffic to your booth. Even if you aren't
exhibiting,
you should still submit a proposal for a workshop or showcase.
If you secure
a speaking spot, let your customers know that you'll be there,
and when they
can see you. Then invite prospects to visit you at the show, and
set
specified times for meeting people at your booth. That way, you
will get a
steady flow of traffic, and others will be attracted to your
booth to see
why so many people are gathered there.
Be excellent at what you do. Word travels fast, so do everything
you can to
make sure that all the talk about you is positive!
If possible, join the trade associations or organizations your
clients and
prospects belong to. Not only will these associations keep you
up to date on
what's happening in the industries you sell to, they'll also
provide you
with a great opportunity to meet key people on a regular basis.
To build a
successful network, be sure to attend the meetings as often as
possible -
not just once or twice a year.
Lastly, for a cost-effective way to keep your name in front of
potential
clients, try sending mailings to prospects, complete with
relevant items of
interest. Send these mailings about once every 6 weeks, and
you'll also
benefit by learning when key people in the organization leave
their
positions due to a promotion, reassignment or departure for a
new company.
Of course, this isn't a complete list of all the possible ways
to build your
network and find new prospects. But they are some time-honored
ideas that
I've found work for almost every business or situation I've
encountered.
And remember, you don't need to pursue all of these ideas at
once to become
a successful prospector. In fact, it might be unproductive to do
so! But at
any one time, you should be involved in at least four of these
twelve
techniques, and make sure that the four you choose change as
your company -
and your clients - evolve.
The key is to make prospecting a regular habit. By committing a
set amount
of time each day, every week towards meeting new people, in the
long run,
your sales funnel will be more full than you can handle, and
your "hockey
stick" revenues will be a thing of the past.
About The Author
Colleen Francis is a respected speaker and trainer, working
internationally
with companies and individuals. Driven by, and singularly
focused on, sales
success, Colleen's innovative sales methodologies are helping
experienced
and new sales professionals achieve maximum results. In 2001,
after 15 years
of direct selling and sales management within the technology and
financial
sectors, Colleen founded Engage Selling Solutions, a firm
dedicated to sales
success. Check out Colleen and Engage Selling at
www.engageselling.com or
call her at 1-877-364-2438. |
