9 Sales Levers To Pull To Lift Revenue
Sales Strategies for Consulting Businesses
The pandemic has had a huge impact on businesses from different industries. But consultants and small businesses owners have agreed that 2021 has been one of the quietest on record for sales.
In this show, Paul shares 9 levers you can implement to pull through your revenue. From obvious actions like getting referrals from your existing clients to new ones such as thinking like a doctor or selling on other people’s stages. There are also some bonuses at the end of the episode.
Hello to the Accelerate Sales Podcast, episode number 336. If it's your first time, welcome. And if you love what you hear, please subscribe and also share it with your friends. If you're a regular, thanks for your support. Always appreciate a review, in particular, an iTunes review is fantastic. Please check out past shows on your favourite platform, just search Accelerates Sales, and don't forget those interview shows. I've got some world-class experts on sales, just waiting for you to learn from.
Today's topic is nine levers you can pull to lift revenue. You will learn what are the nine levers, a couple of bonuses, and also how you can get some help at the end. I talked to consultants and business owners every day, many have found it this year, in particular, in North America, with summaries, it has been one of the quietest on record.
You might have noticed it yourself, right? You know, have you been getting all of those out of office messages? I've been the same and I've sorta been very keen to get more sales at the moment, but there's just no one there to sorta answer the phone. The freedom that the vaccine has given us, particularly in North America, I think really meant that people are taking more time off with family and friends. And I can completely understand it because there were severe lockdowns in 2020. Unfortunately here in Australia, we're still in the situation where we're in lockdown. I know how much that impacts your life. I also heard a CNBC finance commentator mention that the impact of trading volumes are down because of the fact that more people seem to be on holidays, leave vacation, whatever you call it.
If you're in the same situation, i.e., you can't get through to people, even if you're not, there's other reasons why your revenue is down, I want to help you by using these nine levers to pull to boost your revenue. So some are very obvious, right? And you'll say, oh God, I've heard that before. But remember the obvious things aren't always done. So it's a nice reminder. And if you're doing them, fantastic, if you're not, it's a great chance to get in and do them.
Number one is sell yourself first. So what I mean by that, many of the people that I work with realise that they've actually got to first convince themselves the importance of sales before they actually go and sell to others. Now, does that sound like you? I've been selling for 28 years and I'm still improving each and every day on my sales, right? If you've come from a non-sales background, the years of experimenting aren't quite there yet. Ultimately, if you truly believe you can identify and solve a problem for a client that will make them better off, then you have an obligation to actually sell that to them. And I love Michael Masterson's book. Ready, Fire, Aim. Highly recommended if you haven't read it. And he says, as a business owner, you're the best person to sell up to the first million. I actually agree, but I think due to technology and the support of some of the changes we've got, certainly with the people we work with, I think you can stretch that up to nearly five million, because, realistically, hiring a salesperson is not without inherent risks. And unfortunately, more people where it doesn't work than it does. So I'd love for you to just share your experience, what you've had with that. So that's number one, sell yourself first. And I spend a little bit more time on that because I think that's the real killer.
Number two is ask your existing clients. I know you've heard it before, but word of mouth referrals are probably one of your biggest drivers of revenue, but how often do we really ask our own clients? If they know one person they recommend. I won't go into the reasons why here, because I think the biggest one, just to mention mine, is the fact that I just don't think people have a system. And if you are nodding, please email me and I can definitely help you with that. And I've got a little bit more on that in a moment.
Number three is sell and cross sell. How often do you sell one service to a client only, right? There is evidence that you can also sell an additional item that is more than 25% of the initial item, you can increase your revenue. And you know, you might've heard of bundling. It happens, you know, right through our retail, but often we don't do that and we can do it in the right way. So for example, when I have my Sales Machine members come in, there was a gap where a lot of them just didn't have their VA's properly trained. So what we've done now is bundle a training of the VA with the membership and that's working really well. It's getting them a much better result, they're getting a better result with less time, but at the same time, every sales price is going up.
Number four is away and towards motivators. So you may have heard of this before, but there are typically two key motivators in sales. I'll give you an example. It might be unpredictable referrals, or you are having to do all the work, right? So what are you trying to move away from? And then what are you trying to move towards? Consistent referrals and freedom to take time off, just as examples. So I have both of the away and towards motivators in your sales content and your discussions.
Number five, think like a doctor. So this is a very personal one for me. If you've been following me for some time, I've spent a lot of time with doctors over the years, I've been fortunate to get the transplant. And if you've been new to this, you can actually go and hear my story on my LinkedIn profile and website. But the key thing about doctors is they're really good at diagnosing a problem. And what they do is ask for permission, they ask lots of questions. So if you want to dig more into that, you can go to episode 237, How a doctor can help you sell.
Before I continue to find more ways or more levers for you to pull to drive revenue, I like to ask you if you're struggling with some of these key common challenges. One is you've taught yourself sales and not sure what you don't know. Two, you get unpredictable referrals that inhibit your confidence to invest in your business. And three you're lacking a sound system fit to scale, which limits your growth. Learn three ways to double consulting revenue through referrals without wasting your precious time. Just go to Paulhigginsmentoring.com/asp. And obviously everything I've mentioned here will be in the show notes
Number six is sell on other people's stages. You may have been spending most of your time in the back office. You really haven't had time to be the authority, be out the front. So one great way to plan someone else's stage is be a guest on a podcast. So I've got a list of podcasts that I've been on, but also I've got about, I think it was about 700 podcasts that we've catalogued across all different themes. And we've also got all the scripts. So if you want to find that, just reach out to me on my email at the end.
Number seven is first and last rule. So what I mean by this, so make sure that you start your day with a sales call and close your day. Now it could be a sales activity, but you just gotta make sure that it becomes a daily habit of selling. I use the Done app on my iPhone, which I love and I tick off every day my key habits. And one of those is to actually make sales calls.
Number eight is follow up. I know everyone talks about it, but the key thing here is to be specific with the next meeting. So set the time or the day, the time and the date, you know, be as specific as you can. Don't mention the objection when you're following up. E.g. Partner on board. So I just wanted to check in to see if your partner's on board. Don't mention the objection. Also taks yourself in your sales CRM, or even better task someone in your team to follow up on your behalf and have message templates. I think I just climbed mine up. We've got 300 message templates now that we've created. So once again, if you want those just reach out.
Number nine, the last one is prices. Okay. I'm sure you thought I was going to miss it, but no, prices. So always ask people, when did you last increase your prices? And for you, just pause and just think when was the last time I increased prices? I think you should do it for a minimum of a year if you've got a constant service, but also test new prices and make sure your grandfather, the old. So if you're selling consulting services, a lot of the time, your prices aren't published, you can actually change them and just test it. There's only one client that will be impacted. And also when you are increasing your prices and communicating it, make sure you're adding value, right? So there's a reason for the change.
Bonuses. So we've gone through the nine it's all in the show notes, but the bonuses. The 10% real lift H measure by 10%. So leads, conversions, et cetera. And we'll have a multiplier. Tagline. So have a clear tagline. What's the impact that you give someone? What's the outcome that they get and what do you do? So the impact for me, as an example, couldn't be more freedom. The outcome I give is a solid referral sales system. And what you do is I help consultants get more sales. Test and measure. I know it's obvious, but your sales CRM has got a lot of reports that you can pull from there. Are you really using them? Scarcity and urgency works brilliantly in any offer. And the last one is constantly build your networks. And LinkedIn is a great way of doing that.
Three key actions from today. One is implement the gaps. Two is email me at [email protected] for the list of podcasts and the other things that I've mentioned today, and also go back and listen to episode 237. You can get all the links in the show notes at Paulhigginsmentoring.com/podcast, episode number 336, or the app you're listening to. I recommend the Pocketcast app. I think it's great. Please follow me on LinkedIn. If you know someone interested in lifting their revenue, please share it with them. Be a sales hero to them. Please take action to accelerate your sales.
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