How to boost the average value of your deals with coaching tactics
Want to boost the average value of your business deals? Find out how to do it using coaching tactics.
Sales team coaching is an important aspect of any business’ success when it comes to generating leads, securing clients, and retaining continued custom of previous clients. However, proper training of your sales team can also help drive up the average customer transaction value that comes from deal wins too.
Many of the ways that the average value of your business deals is increased relate to the confidence, capability, and skills of your sales team. While there is always a focus in attempting to generate new leads, it’s important to consolidate the value of the products and services provided by your organisation.
Proper implementation of behavioural shifts in regards to average value deal will normalise this behaviour within your sales team, and it will also increase the value of any future deals with other clients too.
Sales coaching can help your sales team and sales management team feel confident when it comes to practices such as up-selling and cross-selling to clients, while also teaching them the emotional intelligence to read when this behaviour is appropriate with a client. Whether it is selling ClassicBond EPDM Rubber Roofing or flourless cakes, this approach can help.
Retention efforts also play an important part in enabling you to raise the average value of deals with current clients. An all-round approach to sales training by an experienced coach will consider all of these behaviours, techniques, and much more when it comes to increasing the average value of current and future deals.
This can only be taught by a coach who has worked in this environment, and has a track record of increasing the average deal value across multiple organisations.
Sales coaching training can transform your retention efforts
Sales coaching training is valued by most businesses, but training can quickly become stale and ineffectual over time. The importance of clients to B2B organisations is paramount. Sales teams must be on top of their game at all times to gain clients, but also to keep them too. So how can training affect retention?
The Harvard Business School has claimed that improved customer retention of just 5% can lead to gains in profit from anywhere between 25% to 95%. Yet, so many businesses still have their sales teams focusing on generating new leads. This focus, however, can lead to your current clients becoming frustrated or left feeling out-of-favour.
Sales coaching can help your sales management and sales teams understand the importance of retention and introduce strategies and behaviours into their work environment that can drive an increase in retention and, ultimately, profits.
Ways to achieve this for those in the B2B environment is by utilising social media, setting expectations for your clients during the sales process, performing client satisfaction surveys, and simply communicating with clients in a more meaningful way.
Retention and loyalty of your current clients should never be taken for granted. Good sales training provided by an external source can help evaluate and improve the way in which your sales team and sales managers perform these crucial actions. The returns of measurable sales impact and a re-energised sales team are worth it.
Why do processes matter?
Sales coaching and training can go a long way in helping your organisation achieve greater success. A big part of this training and coaching is the sales processes that are followed by your sales managers and teams. This can affect how leads are generated, how prospective clients judge your organisation’s value, and how well your team closes the deal.
There are ways to evaluate how well your organisation is performing with regards to these selling processes. They matter because these selling processes allow you to step back and evaluate your sales team’s performance. For example, imagine you approached every client in a completely arbitrary manner.
Even if you secure the services of a client, how are you able to quantify and measure your sales success? Sales processes allow you to plan and track your engagement with a B2B client from initial contact right through to the closing of the deal – and even further into your new relationship.
It can also remove any notions of ‘favourites’ amongst clients. With that being said, good salespeople and sales managers know that you must listen to the specific needs of a particular client. So how do you maintain the sales process while catering to the unique aspects of each prospective client?
Sales coaching services can help your teams improve via a good training program. Good sales training and coaching will not just focus on the short-term closing of a client; it also explores the importance in retaining clients and the ways in which empathy and listening can spell success in a competitive market.
Photo by Alejandro Escamilla