Want to know how to master sales? Learn these different types of sales strategies and watch your numbers soar.
There’s more than one way to make a sale. That may seem like obvious wisdom to a sales professional, but the reality is that many salespeople don’t employ a large arsenal of tactics for closing deals. They have one or two “go-to” sales techniques, while the other methods drift by the wayside.
But there is an art to sales, and like any art form, there are strategies and skills the artist must use to master his or her craft. The same holds true for how to master sales. You may have certain techniques that you’re comfortable with or that work for you most of the time, but if you don’t utilize a variety of strategies, you might miss out on closing some deals.
Of course, there are too many types of sales techniques to list here. However, if you implement and practice the following six strategies, you will almost certainly see an increase in profits, and more importantly, an increase in happy customers.
How to master sales: classic techniques refined for modern sales
1. Cross-selling and upselling
Cross-selling and upselling are similar and you can often use them together. Cross-selling is when a prospect comes to you to buy one thing and you sell them on something different. If, for example, I go to an electronics store to buy a television and the sales person convinces me to buy a tablet as well, that would be a cross-sale.
An upsell would be if I walked into the electronics store with a price point in mind for a television and the salesperson convinces me to buy a more expensive television.
Both of these types of sales tactics are crucial because they close deals that weren’t even on the table in the beginning. And with a cross-sale, you can sometimes double your commission if you get someone to buy the original item and the cross-sale item. It’s a pretty simple way to make a few extra dollars as long as you are selling something that would benefit your customer.
2. Handling unexpected price objections
When you learn how to master sales, it’s imperative that you learn how to handle unexpected price objections. The key here is to remember that you’re selling value. If someone doesn’t see the value, it’s your job to show it to them.
Don’t bring up the price too early in your pitch. Wait until you’ve demonstrated the value of the product or service. If price objections still come up, ask questions related to value: What do you feel is a fair price based on what we’ve talked about? What would you think if the price was X? Keep your questions relevant to the value of your offering and determine your path from there.
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3. Ask probing questions
One thing that all types of sales share is the need to sell customers on benefits, not features. You can only sell benefits, though, if you know what a customer needs. Probing questions will help you learn those needs. “Tell me about your background.” “What is most urgent for you right now?” “Does our product seem like it would be helpful to you?” Listen to the needs and respond accordingly.
4. Consultative sales
Consultative sales is very closely related to probing questions. The idea behind consultative sales is to put emphasis on the prospect, not on your sale. Start this process by learning as much as you can about the prospect: Where did they come from? What brought them to you? What problem are they looking to solve? Do research and ask questions.
One thing that’s a little different about consultative sales is that you want to help the prospect no matter what. That might mean you don’t make the sale—this time. But if you help them solve their problem, you will likely make a customer for life.
5. Psychological pricing
Psychological pricing is among the most classic types of sales tactics, because they’ve worked for years. From marking a price down one cent ($9.99 instead of $10.00) to a buy-one-get-one-free deal, ascribing value through smart pricing is an excellent way to upsell, cross-sell, or close a deal. Just be careful not to oversell—if a customer feels they’ve spent money on something they don’t need, they’ll be less likely to return to you in the future.
6. Other strategies
There are myriad other types of sales techniques that will help boost your profits. Everything from tailoring pitch presentations to implementing sales automation software to using customer testimonials as free marketing can lead to a rise in your numbers. No matter what, remember the foundation of all of this: You are here to help your customers solve problems before you are here to make money. Keep that in mind, and you’ll have learned how to master sales.
Make your sales business more valuable with CRM software that works for you. Schedule a free demo today to see the value of client relationship management.
What sales strategies work best for you? What advice would you give to new salespeople trying to boost their profits? Tell us in the comments below.