Sales

Posted 21 Aug 2019, Editor's Desk

How to increase sales by 10 times not 10%?

Introduction

  • What kind of Growth are you looking for - Incremental or Exponential?
  • What kind of approach do you adopt - Sales or Consultant?
  • Do you know how to increase sales volume? 




In “incremental growth”, you can grow by 10% while in “exponential growth”, you grow by 10 times.


Through this article, we will share a few ideas on how to increase sales by 10 times by which you can too experience exponential growth in your Business.


Whether you are doing MLM sales, B2B/B2C sales, corporate sales, Institutional sales, Individual sales, direct/indirect sales or channel partnership, the principle is same and that’s what we are going to discuss.


To know how to increase sales volume, you need to first understand the difference between salesman and consultant.



Who is better – Salesman or Consultant?

Salesman and Consultant both are doing the same job but their approach is different.


Let’s discuss the difference between both approaches:


Salesman
Consultant
A salesman comes with a product.
A consultant comes with a solution.
Salesman works on his greed.
A consultant works on the client’s needs.
A salesman speaks 80% and the client speaks only 20%.
A consultant speaks only 20% and the client speaks 80%.


To know how to increase sales volume, you need to consider the following points:

❌ If you focus on your greed, then the need of the client and your greed both will not be completed.


✅ If you focus on the “need of the client”, your greed will automatically complete because the need of the client is completed.


Take the approach of a consultant and not the salesman because the client does not want a product, he only wants a solution. 


Customer doesn’t want to be sold, he wants to be helped. 


You have to work with the “consultative approach”. Now, what is the Consultative approach?


It means you have to act as a consultant by asking a lot of “solution-oriented questions” to the client.


What type of questions are these?


For such questions, you have to conduct a N.I.C.E. analysis.


Needs – Interest – Concern – Expectation


To know how to increase sales volume, you need to first understand N.I.C.E. analysis.


When you understand the Need, Interest, Concern, and Expectation of the client, then what you actually showcase to the client, he will buy it.


But, the problem is that you are focusing on selling the product you have brought and not focusing on the need or problem of the client.



How to Implement N.I.C.E. Analysis?

To know how to increase sales volume, you need to learn how to implement N.I.C.E. analysis.

For implementing the N.I.C.E. analysis:

  • You need to first understand what, why, when, where, and how of the client.
  • You need to find out:

       1. What is going in the life of the client?

       2. Why is it going?

       3. Since when this is going?

       4. Where and how it is going in his life?


A consultant actually identifies the “latent need” of the client. After that, he shows his product as a solution to his need. With this approach, the product gets sold double, triple, and quadruple times.


This leads to “10 times sale growth”, not 10%.


How to Increase Sales by Asking the Right Questions?

Conduct N.I.C.E. analysis of the client not by speaking but hearing the client. You have to hear the client, understand him, and acknowledge him sometimes.


To know how to increase sales volume, you need to start “parroting and paraphrasing”.


For Example

If the client says, “I am going through various problems in my life, how I will buy, now?” you need to say, “Oh problems are going on, I would like to understand what problems you are facing.”


Basically, you have to “enter in his shoes”. But, before entering in his shoes, you have to first “take off your own shoes”.


Put aside your product and try to understand the client’s situation.



How to Ask Questions?

You can ask the client some thinking questions and current reality questions. When you ask him some questions, he will start speaking out. Then, you can ask him some vision questions and goal-oriented questions.


Understand his goal, his vision and then again ask him the current reality question.


For Example

If a client’s goal is to reach at 8/10 and he is currently at 4/10. You need to understand where the client is right now (this is the client’s assess) and what his vision is or where he wants to go (this is client’s aspire).


The gap between assess and aspire of the client is architect. You have to help the client to “architect this gap”. Now, you become the partner of the client and you are no longer a salesman to him.


To know how to increase sales volume, you need to understand what type of questions you can ask from your customers. You can ask the following types of questions to your customers like:

  • Problem-oriented questions
  • Solution-oriented questions
  • Probing questions
  • Leading questions 


The answers to these questions will make you understand the problems of the client. During this time, when you say:


You:  “Oh... You are going through so many problems, you are facing these problems from so long…my lord! So, how much it is necessary for you to solve these problems?”


Client: “It is very important for me to solve these problems.”


You: “How much you are committed to solving these problems?”


Client: “Very much.”


You: “Do you want me to help you with this?”


By asking Solution Oriented Questions, you become the client’s gap partner and you can offer your product as a solution to his problems. He will immediately buy your product. 



How to Increase Sales through Consulting Approach?

In any conversation, the person who is asking questions leads the conversation and not the one who is giving answers. You will become the leader and control the complete conversation and this conversation will go in your favor only.


If you want to grow 10 times, leave the approach of a salesman and become a consultant.

Some of the sample questions you can ask are:

  • Where do you want to reach?
  • What do you want to do?
  • Which type of life do you want to live?
  • How can I help you?
  • How much committed are you to improve your life?


The three main questions that should be asked to the client are:

  • Where you are right now?
  • Where you want to go?
  • How you will go?   


You can ask these three questions in detail. You can help the client in reaching his goal by becoming his gap partner.

Do you have a query..?