Search
Close this search box.
Blog » Business Tips » 4 Ways to Improve Your Sales Closing Rate

4 Ways to Improve Your Sales Closing Rate

Posted on November 8th, 2017
checkout experience

As a business owner, if you aren’t making sales then you aren’t making money. You can have the best skill set in the world, but if you don’t know how to sell it, then it really doesn’t matter. That’s why it’s imperative that you learn to improve your sales closing rate.

If you don’t like sales, don’t worry. I actually used to hate sales. Through training and practice I was able to improve my sales closing rate to the point where I now love doing sales calls. I actually find them fun! Here are some tips you can use to improve your sales closing rate.

Know who your ideal client is.

The first step in improving your sales closing rate is to know who your ideal client is. This will save you a lot of headaches because you’ll be able to reverse engineer the sales process. It will also help you cut sales conversations short if they don’t meet certain criteria. You’ll also want to know what your end goal is.

Address common objections through your marketing.

Business owners can improve their sales closing rate by addressing objections through content. For example, one common objection we all hear is “I can’t afford it” or “It’s too expensive.”

We already know it’s coming, so our job is to address it before having a sales conversation. In my case, I’ll send emails showing the ROI my clients get. People can’t resist it when they see someone spent $2,000 but landed a client worth $15,000 as a result.

Before creating the market, you’ll have to figure out who your ideal client is and what their objections may be. I spend a lot of time teaching my students and clients how to do this because it really works.

Shift your mindset.

I recently had to help a coaching client in shifting her mindset about sales. Up until recently, she would approach sales calls as if she was being interviewed for a job. The reality is business owners are the ones doing the interviewing, not the other way around.

What do I mean by this? As I’ve previously mentioned, your time is the most valuable thing you have. That means you can’t waste it on clients who are not ideal. That’s why sales calls are really about determining whether or not the prospect is a good fit for your business.

This one shift also helps boost confidence which is what people buy anyway. If you’re confident, you can drastically improve your sales closing rate.

Set up systems to weed out the duds.

Do you want to know my number one secret for improving your sales closing rate? It’s making sure I don’t waste my time with duds.

For the most part, by the time people get on the phone with me for a consult they are ready to pay me. That’s because I have an application process in place that only allows people who have a certain score access my calendar.

Granted, sometimes a dud will get through – usually because they weren’t truthful on the application – but since I’m clear on who my ideal client is I can usually tell in about five minutes and cut the conversation short.

This is also something I teach my students and it’s helped them dramatically improve their own sales closing rates.

Final Thoughts

By improving your sales closing rate, you can increase your business revenue. This means you worry less about money so you can continue focusing on earning more of it.

Amanda Abella

Amanda Abella

Amanda Abella is a Millennial Finance Expert that helps people understand their finances and eliminate all bad debt. She wrote a book, Make Money Your Honey. It is a powerful guide on how to have a better relationship with work and money. You can actually start building an extremely profitable business around the things you're passionate about.

About Due

Due makes it easier to retire on your terms. We give you a realistic view on exactly where you’re at financially so when you retire you know how much money you’ll get each month. Get started today.

Categories

Top Trending Posts

Due Fact-Checking Standards and Processes

To ensure we’re putting out the highest content standards, we sought out the help of certified financial experts and accredited individuals to verify our advice. We also rely on them for the most up to date information and data to make sure our in-depth research has the facts right, for today… Not yesterday. Our financial expert review board allows our readers to not only trust the information they are reading but to act on it as well. Most of our authors are CFP (Certified Financial Planners) or CRPC (Chartered Retirement Planning Counselor) certified and all have college degrees. Learn more about annuities, retirement advice and take the correct steps towards financial freedom and knowing exactly where you stand today. Learn everything about our top-notch financial expert reviews below… Learn More