Benefits of an Automated Lead Follow Up System for Mortgage Companies
Mortgage lending is a fast-paced, competitive industry. For mortgage lenders to thrive in this type...
While sales may not be the occupation we all dream about as kids, it can be a very fulfilling occupation for those who master sales fundamentals. In sales, understanding the core principles opens doors to endless possibilities and remarkable achievements. As a salesperson, you get the opportunity to impact what you earn directly through commission, build quality relationships with others in your industry, and experience thrills as you convert big deals. If you are a sales leader, you can ensure your team is set up for success through teaching sales fundamentals through the practice of sales enablement.
Sales enablement is a strategy to improve your sales team's performance by providing them with the resources they need to close more deals. The goal is to improve your processes, resources, and strategies to make sales more efficient. This may seem like a daunting task, but tools like Calldrip’s sales enablement software can make it an integral part of your daily work.
Some of the fundamentals we’ll cover include:
To be successful, a sales team should understand the traditional sales process. For many businesses, the sales process most likely involves the following stages:
There may be slight differences in certain industries, but generally, this is the journey prospects take when purchasing a product or service. At each step, a customer has a specific set of questions and concerns. When your team has a structured approach to addressing those needs at each stage, they will close deals faster and with less effort.
This is essential for several reasons, including,
Don’t forget to track progress through each stage within your CRM or sales tracking tool. This will ensure that you can diagnose issues if and when they arise.
Going back to the sales process, your team should understand how to address a lead's needs and questions at each phase so they can successfully move them to the next step.
For example, during the prospecting and lead generation phase, it is critical to understand who your target audience is so that your team can identify and qualify each lead. Time is a precious resource; the quicker you accomplish this important task, the less time you'll waste. Also, understanding your best customers will ensure your team is effective at this stage by promoting your products and services in channels where they are and using messaging that speaks to them directly.
During sales presentations, it's essential to provide persuasive information that addresses the client's questions, needs, and objections. Coach your people on storytelling techniques that engage leads. Key elements of a persuasive presentation also include an attention-grabbing introduction, clear structure in sections, easy-to-read visual aids like charts and images, and end with a strong call to action.
A salesperson typically needs to get through the negotiation and closing stages before the sale is complete. Ensure success by coaching your people on the best strategies for effective negotiation. Great negotiators maintain a positive relationship with the prospect throughout the process, which builds trust, reduces conflict, and leads to a better deal.
Because sales are dependent on strong human interaction, communication skills are important. It is so crucial to be clear and persuasive in every interaction. How your team interacts with leads, establishes trust, and builds those meaningful relationships will affect how they close deals (or not). But effective communication skills are more than knowing how to talk to people. The best salespeople also know how to listen, ask questions, overcome objections, and convey value through action.
Here are some communication tips be more a impactful sales professional:
Sales professionals must be skilled communicators, both verbally and non-verbally. They should listen actively, ask insightful questions, and convey their message clearly and persuasively. By mastering these skills, your team will establish profitable long-term client relationships, build trust, and ultimately drive more sales.
As important as a strong foundation, a positive mindset will set up your team for success. Experts say 80% of sales success is mental and emotional, not technical and physical.
Self-confidence and resilience are crucial to sales results. When your people feel confident, you can give them bigger goals. They'll easily tackle objections and bounce back from rejection faster. It can take time and deliberate coaching to build a positive mindset. Here are some tips to start today.
A confident mindset will help your salespeople improve their performance, overcome obstacles, and achieve greater results.
No matter your industry or who your customer is, human connection is critical to sales success. People prefer to buy from people they trust and like. This is true today and will still be true in the future, even as artificial intelligence becomes a part of our lives. Need proof? Here's the data.
The data shows that providing excellent customer service and building strong relationships with prospects is essential for the success of your sales team. When you prioritize human interaction, your sales team will:
By creating lasting relationships that build loyalty, satisfaction, and revenue, you set your sales team up for long-lasting success. Here are some tips for your sales team to foster trust and establish rapport with prospects.
Remember, this is meaningful even after the sale is won! One of the best sources of new customers is referrals; on the other hand, a poor customer experience post-sale can negatively impact your ability to grow.
Identifying and qualifying potential leads is a fundamental aspect of sales. This involves researching, prospecting, and targeting individuals or businesses who are likely to be interested in the product or service.
Prospecting and lead generation typically includes the following:
Prospecting and lead generation require a combination of research, networking, targeted outreach, and leveraging valuable content. By employing these strategies and using appropriate tools, sales professionals can generate high-quality leads, increase conversion rates, and build a strong sales pipeline.
Successful salespeople excel at uncovering customers' pain points and needs. By asking insightful questions and actively listening to their responses, salespeople can gain a deep understanding of the customer's unique needs. This process allows them to tailor their solutions and demonstrate how their product or service can address those needs effectively.
Needs assessment not only helps build trust and rapport with customers but also enables sales professionals to position themselves as problem solvers, offering personalized solutions that resonate with the customer's objectives. Through thorough needs assessment, sales professionals can uncover valuable insights that form the foundation for successful sales strategies and ultimately lead to customer satisfaction and long-term business relationships.
To do this successfully, salespeople need to hone not only their communication skills, but also their product knowledge.
Objections are inevitable in sales. Professionals need to be adept at addressing concerns, overcoming objections, and turning them into opportunities to further build trust and understanding.
We recently published a blog all about overcoming objections, if that’s something you’re interested in learning more about.
The ability to ask for the sale and guide the customer towards making a buying decision is crucial. Effective closing techniques, such as creating urgency or offering incentives, can help secure the deal.
Here are some strategies and techniques to help close the deal effectively:
Remember, every sales situation is unique, and the closing process may vary. It's essential for sales professionals to adapt their approach based on the customer's needs, preferences, and the specific context of the sale. By actively listening, addressing concerns, using effective closing techniques, and providing assurance, sales professionals can increase their chances of closing the deal successfully.
Mastering the fundamentals takes continuous learning and refinement of skills. As a sales leader, it is critical to prioritize analysis, tracking, sales coaching, and sales training to ensure your team is as successful as they can be. That’s where technology comes in. The right solution can make sales performance tracking and analysis seamless, and even support ongoing sales coaching. (That’s a big part of what we do at Calldrip.)
In addition, there are ways to leverage artificial intelligence to empower your sales team to be more efficient. Sales enablement tools and software like Calldrip offer technology that automates many tasks that slow your team down and integrates processes to streamline workload. Some tools also provide insights and data to elevate performance through coaching and sales enablement.
Calldrip offers an all-in-one software solution that integrates with your CRM and existing lead sources to track inbound inquiries, automatically follow up with leads via phone calls and text messaging, and provide sales coaching. Our software includes automated review capture, web chat, robust call analytics, team scorecards, and more. The best solutions fit seamlessly into your existing workflows and systems so that no lead falls through the cracks, and each team member works to their full potential through access to real-time data, ongoing sales training, and personalized tasks.
You wouldn't hire an accountant to sell your product or service. Why? Because just like any other business function, understanding sales fundamentals is critical to success. An accountant may know how to balance the books but won't know how to sell with competence. Your sales team will succeed with a solid foundation in sales fundamentals. You can do this with the right sales enablement partner, and . Calldrip's solution might just be perfect for you. For more information and a free demo, contact us today.
Pam is a marketing and communications professional with twenty years of experience in content creation, copywriting, creative brand strategy, and brand messaging.
Mortgage lending is a fast-paced, competitive industry. For mortgage lenders to thrive in this type...