I touched on this topic at the end of my last blog entry (Hidden Truths About Communication). I would like to dedicate today's discussion to looking deeper into sales. There will easily be more additions to this topic in future posts, but these are some of the basics. At the end of the day, sales are what keep the lights on at your business. In the two industries that I have worked in, each has played a strategic role in shaping my techniques. It is very difficult to drive sales in the music industry, especially if you do not work with/for a label. The beverage industry has another set of challenges, which are uniquely different from the music world. Distribution is the key to your company's sales in the food and beverage world.
Transparency -
Make sure when you start a conversation with a client, retailer, buyer, etc. that you are up front about your business position. At the start of your business, you might lie about the size of your company. You might tell everyone that you have more people working for you. You might even say you have clients who haven't fully committed yet. Entrepreneurs of all kinds have been placed in these situations before. The key point is to recognize that people are willing to help the underdog. That doesn't mean the circumstances will be any easier, but at least they will be willing to listen to your story. As I started to build sales in my beverage business it became easier to tell people about the organization. We boosted credibility by being honest about what our goals were and still are.
Urgency -
If nobody wants your product, then move on to someone who does. It is very clear in the early stages whether or not you have an idea that everyone can appreciate. If you do not gain traction at first that's ok. This might mean that you have to develop the concept more to find people who appreciate what you have created. Urgency is the idea created that the product has a limited supply or timeline to purchase. There is a fine line when using this technique. You need to use a combination of transparency and urgency to end up with the sales results you want. Urgency does not work if you lie during the majority of your pitch. Make sure that you find clever ways to make the client, retailer, or buyer feel that they can't have the product or service. If this tactic is used correctly, you will be amazed at how effective it truly is.
Follow Up -
This point is what separates the best salesmen from the mediocre. If the client doesn't see you again, after the sale is complete, you probably won't be their client for much longer. It is imperative that you keep a business relationship going like you would a marriage. It takes years to build a solid partnership where both parties are comfortable working with one another. Make sure to check in to find out how they are doing. Taking the extra five minutes to confirm that the relationship is still strong will make all the difference in the longterm.
Enjoy the rest of your week!
Sincerely,
Enterprise Warrior
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