3 Insanely Easy Ways to Double Your Sales It's easier to double sales by doubling the amount of an average sale than to double the number of those closed.
By Marc Wayshak Edited by Dan Bova
Opinions expressed by Entrepreneur contributors are their own.
Every salesperson wants to close more sales -- that's no surprise. But sometimes closing more sales isn't actually the best way to make more money. In fact, it's far easier to double your sales by doubling the amount of your average sale than it is to double the number of sales you close.
The most successful salespeople understand this. They dramatically increase their profitability without chasing after more prospects. Instead, they recognize the value of higher profit margins. As the old adage says, "Quality is more important than quantity." And that couldn't be truer when it comes to selling.
If you're looking to dramatically increase your sales, check out this special report. Here are three insanely easy ways to double your sales, right now:
1. Go after the top dogs, leave the small stuff alone.
Many salespeople spend their entire careers calling on low-level prospects with small budgets and no decision-making authority. Don't be one of those salespeople. Only go after prospects at the top of the food chain; these clients have the authority and budget to say "yes" to big investments.
When you prioritize highly profitable sales, you can start saying "no" to tiny deals that have little return on your investment of time and energy. Focus only on larger opportunities and prospects who can make a big dent in your sales pipeline. Big opportunities take the same amount of time and effort as small ones, but lead to a far greater outcome at the end of the year.
Related: 7 Psychological Strategies for Mastering Sales Negotiations
2. Establish expertise by observing challenges.
As a salesperson, you have a unique 30,000-foot perspective on your prospects' industry. To close bigger deals, present yourself as the expert you are. At the start of a sales meeting with a big prospect, comment on two or three things you've observed about the current industry. For example, a trade show display provider might say, "Right now, I'm seeing a lot of companies worried about their trade show ROI. They're concerned about being perceived as leaders in their industry and struggling to stand out on the show floor more than ever before."
By starting your opening with an observation of the challenges you observe in the marketplace, you'll set yourself up as a true expert in the eyes of the prospect. This is a powerful way to build up to a larger sale. Showing your expertise up front boosts your value, and encourages your prospect to share more about their challenges.
Related: 5 Million-Dollar Strategies Companies Use to Manage Their Sales Force
3. Uncover the cost of your clients' challenges.
You've shown the prospect that you understand what's going on in their world. Now, ask, "Do any of these issues ring true to you?" This is an easy way to get prospects to open up about the challenges faced by their organization. Ask probing questions -- not easy ones -- to determine what's really going on. Prospects will see massive value in this approach, and they'll appreciate that you can help them identify a challenge they haven't mentioned to anyone else before.
Once you identify a prospect's key challenges, it's time to ask, "What do those challenges cost your organization?" By articulating the cost of the challenge, the prospect is putting a price tag on the value of your solution. For example, when a challenge costs an organization $5 million, the solution to fixing that problem could easily be worth $500,000 -- this is now the value of your solution with a 10x ROI. Helping clients see the value of your solution will always lead to bigger sales and higher profit margins.
Don't waste any more time chasing small leads. Go after the highest level prospects in your industry and show them that you're an expert. By implementing these three insanely easy strategies, you'll spend less time and energy chasing leads -- and more time closing highly profitable sales.
