Cash In on the New Year

You won't obtain new business, close more deals and grow existing accounts without a sales plan. A sales plan gives visibility into the year ahead. The companies who want to achieve success will push the envelope.

 

The companies with salespeople who go through the sales process described herein are closing at higher rates and holding more value. They’re making more per loan because they are building relationships with their customers, getting more referrals and customers are coming back to their original Loan Officers.

 

Here are the top selling techniques (in order) to keep your pipeline full:
 
1. Approach-Introduction: This is the opening step where you introduce yourself, explain what you do and how it could benefit your prospect. You will also make sure they are wanting the products and services you offer. Start building a relationship with the prospect and the information gathering begins. First impressions are essential to sales success. It sets the tone for the conversation and begins the relationship.
 
2. Qualification-Investigation-Discovery: This is an extremely important step of the sales process and cannot be skipped. This step allows you to hear the prospects’ wants and needs. It will also let you know if anyone else needs to be present for the sale to take place.
 
3. Agreement on the need–follow up on step two: In this step, you first repeat back to them what you heard in Step Two (their wants and needs). Then, you present to them your product or the best product for their situation, and how it accomplishes their goals, fulfills their wants/needs and why (or how). And lastly, find out if there is anyone else needed to move forward with the sale.
 
4. Sell the company: Often forgotten about, this step is crucial in overcoming objections later. This is where you build confidence in the company. People don’t buy from people or companies they don’t trust. Don’t skip it! You’ve been building trust in yourself up to this point. Now it’s time to build trust in your company.
 
5. Fill the Need-The Presentation-The Pitch: Focus on the benefits, rather than the features. Also, referred to as feature-benefit selling. Give them a feature of the product and then give them the benefit based on what you discovered in Step Two.
 
6. Close the Sale-Follow Up-Ask for Referrals: One of the main reasons sales fail is because the salesperson doesn’t ask for the sale.
 
Always remember that the best sales plans align sales with marketing and operations, and sets a strong foundation that drives the sales force.

---