If you’re losing sales then it’s usually down to these very basic reasons (despite what sales gurus might tell you!):

1. You’re missing the mark on value.

If what you’re offering doesn’t solve a problem or make life easier for your customers, they’re not going to buy. It’s as simple as that.

2. You’re not really listening.

Ever been on the phone with a salesperson who just talks at you? Not fun. Listening to what the customer needs is the first step to making a sale.

3. You’re jumping the gun.

Nobody likes feeling rushed. Pushing for a sale before you’ve built any kind of relationship is a surefire way to turn people off.

4. You’re wasting time on dead ends

Not all leads are worth pursuing. Learn to spot the ones that are just going to waste your time.

5. You’re ignoring objections

Brushing off concerns instead of addressing them only makes the customer more hesitant. Take objections seriously and work through them.

6. You’re forgetting to follow up

Out of sight, out of mind. Don’t let prospects forget about you—follow up and stay on their radar.

7. You’re making things complicated

Keep it simple. A confusing sales process is a sure way to lose customers.

8. You’re pretending competitors don’t exist.

Know your enemy. No solution is so unique that it doesn’t have any competition. Ignoring the competition won’t make them go away—it’ll just leave you in the dust.

9. You’re blending in instead of standing out.

If you’re just another fish in the sea, why should anyone choose you? Find your unique selling point and shout it from the rooftops.

10. You’re skipping the relationship-building part.

People buy from people they like. Take the time to build relationships—it’ll pay off in the long run.

Losing sales feels awful but it’s not the end of the world. Learn from your mistakes, tweak your approach, and carefully rebuild your pipeline being mindful of the above.

Is there anything I’ve missed? What would you add?

#sales #selling #edtech #pipeline #relationships #closing #saleprocess #edtech

Are you guilty of bad love?

Bad love: when your affection for customers is solely based on the revenue they bring. Ask yourself, if they didn’t contribute financially, would you still talk to them, believe in them or invest in them? Is it the money you love, or the customer?

Good love: genuinely caring for your customers, regardless of their financial value. Even if the relationship ends, your business gains in reputation and brand loyalty. You become the go-to for recommendations, known for going above and beyond.

Love your customers for who they are, not just what they bring financially. Strong relationships lead to happier outcomes for everyone involved.

💖 Happy Valentine’s Day! 💖

When it comes to selling to the education sector, using discounting as a strategy to close a sale may seem tempting. However, this approach may not be a good approach. Here’s why you should steer clear of discounting tactics and focus on building value instead.

1. It diminishes your perceived value

Offering discounts can inadvertently devalue your product or service in the eyes of potential buyers. The education sector places great emphasis on quality and long-term benefits. Instead of slashing prices, highlight the distinct advantages and tangible outcomes your offering brings to the table.

2. It seriously affects profit margins

Discounting erodes profit margins, which can have a significant impact on your business’s sustainability. In the long run, maintaining healthy margins allows for continuous innovation and the delivery of exceptional customer experiences. Focus on showcasing the unique value your product or service offers, rather than lowering prices.

3. It establishes unhealthy precedents

If you rely on discounting to close deals, you risk setting a precedent that can be difficult to break in the future. The education sector is a close-knit community, and word travels fast. Instead, aim to position your offering as a premium solution, tailored to meet the specific needs of schools or educational institutions.

4. Long-term relationships are better than short-term gains

Selling to the education sector requires a long-term mindset. Building strong relationships based on trust, credibility, and a genuine understanding of their challenges and goals is key. By focusing on the value your product provides and fostering partnerships, you’ll establish a foundation for sustained success.

So instead of discounting, aim to differentiate through quality and service. By emphasizing value, maintaining healthy profit margins, and building long-term relationships, you can position your product as a premium solution while meeting the unique needs of schools and educational institutions.

Success lies in creating meaningful connections and delivering exceptional experiences that transcend price.

As it’s Valentine’s Day it seems only right to tackle the issue of love and, specifically: is your company any good at it?  Many, many companies will say they ‘love their customers’ but do they really?  Or are they guilty of bad love?

Bad love is where you really absolutely genuinely love your customer . . .  based on the fact they provide you with £XX revenue per year.  Would you still love them and spend so much time on them if they didn’t provide that income?  If you were being honest, would you say it’s the money you love, not the customer?

Good love is where you absolutely genuinely love your customers and if it ends a fruitful financial relationship then great!  And even if it doesn’t then your business will still gain in brand and reputation as you build a network of contacts who regard you as helpful, professional, willing to go the extra mile and not just interested in the next order.  Yours will be the sort of business they recommend to others even if they don’t need your services themselves right now.

Love your customers for who they are, not how much they are worth to you financially.  As with all relationships, the stronger they are the happier you will be.

Happy Valentine’s Day!

Is it possible to win a bid purely on your ability to meet the requirement?

My opinion is that it isn’t.

In my industry (education/public sector) it’s important for establishments to engage in a fair procurement process, so the ability to meet a technical requirement will score you points.

However, I personally don’t think you’re in the running if you don’t have a relationship with the customer, understand what’s important to them and know why you’re bidding. There’s so much more to it than what’s written in the product spec. It’s your job as a business to understand that. Relationships are everything.

Still, a lot of companies in the sector insist on bidding anyway as they think they have a chance based on requirement alone. To them their product is king (they’re also the people who think “the product sells itself”) but more often than not they’re just pouring their money/resource away.

What do you think?

Acquiring a new customer is five times more expensive than retaining an existing one.  And improving retention by just 5% can see your profits increase by anything from 20% to 90%. So why is customer acquisition always prioritised over retention?

Almost all businesses, from the one-man bands to the big corporates, fall into the trap of going all out to win new business but doing so at the expense of their customers.  How many of you have experienced the disappointment of, say, being a broadband customer with a company who are showering new customers in trinkets and discounts but want you to carry on paying as your are as their ‘loyal customer’?  It happens all the time.

There’s glamour, pats-on-the-head and shareholder happiness associated to winning new business but your biggest profits are sitting under your nose if you manage it correctly and focus equally on both.

To get it right, you need someone on your business development/sales team that serves as both a friend and support system to prospects and clients.

Great sales people focus more on the client than on themselves through advocacy, relatability, expertise and excellent listening skills. They build strong relationships that mean they can acquire new business and retain existing customers – increased profit all round!

Is this your team?  If the answer is ‘No’ you’re missing a trick.

If you’d like some help coaching your sales team to increase profits feel free to get in touch.