Consumer buying behavior is far from what it used to be. Today’s empowered consumers are much more demanding; gone are the days when buyers relied solely on a sales representative. With modern consumers likely to consult several resources before they buy, companies are experiencing longer sales cycles and an increased effort required to close deals. But no problem is unsolvable: Even in this new rapidly changing marketplace, sales teams can thrive.
However you choose to approach potential customers, always keep this in mind: it’s a numbers game. You will get No’s between your Yes’s and that’s okay. Check out these statistics and solutions to see if you can get more efficient with your potential Yes’s and reduce the No’s!
80% of prospects require 5 follow-ups.
After all, your leads aren’t going to call themselves. The number of follow-ups required to close a sale has more than doubled over the last decade. Although this surprising statistic suggests winning deals is twice as hard, don’t be discouraged. Instead, see it as an opportunity to distinguish yourself from your competitors.
44% of field reps will give up after their first follow-up attempt and 92% will quit after four. If you commit to being among the 8% of salespeople who don’t quit, you are bound to see positive results. A consistent follow-up regimen will increase your chances of sales success and help you win the deals that other sales reps have given up on.
Be consistent with every prospect. Potential clients are more likely to give their business to a salesperson who follows up without pressuring them to sign every five seconds. Remember, there’s a difference between persistent and annoying – don’t pester your prospects, because that could leave a bad taste in their mouth for solar in general. Give them a good reason to like you and want to do business with you through consistency and positive communication.
Most sales teams spend only 33% of their time on revenue-generating activity.
With leads more than twice as hard to close, committing a mere 1/3 of your day to your sales activities just won’t cut it. Make a conscious effort to avoid getting lost in non-revenue-generating activities. Spending too much time on administrative tasks like looking at reports and checking on previously-sold project status (but not asking for referrals from past clients) won’t help you close deals. Additionally, indulging in social activities like chatting with colleagues and scrolling social media feeds is a surefire way to divert your attention from your sales strategy. As a rep, your compensation is widely performance-based. Be conscious of habits that aren’t relevant to, or actively detract from, your productivity during vital follow-up hours. Building your time management skills mean you can have plenty of room for personal activities outside of the times of day when a prospect is most likely to respond to you.
You know what they say: You may delay, but time will not. If managing your daily schedule is a struggle, allow our team at ESP to take your productivity to new heights. As your install partner, it’s our mission to assist you in freeing up your time so you can focus on the most vital part of your job: selling. Our useful tools allow our partners to grow their businesses without the traditional hurdles of running a company.
Qualifying your leads before jumping into “sales mode” dramatically improves outcomes.
Immediately starting your pitch is a surefire way to limit the deals you close. In fact, sales reps who skip straight to selling instead of asking qualifying questions will lose 67% of their deals. Avoid losing more than half of your deals to your competition by asking your prospects more questions about their needs and wants.
A solid qualifying process will help you to identify your best prospects, allowing you to focus on those most likely to convert. This will also present a great opportunity to build trust with your client and show that you respect their time. They will appreciate that you’re doing due diligence and ensuring a good fit, not just throwing the proverbial “spaghetti at the wall to see what sticks.” Qualifying your leads will also prevent you from wasting valuable time on those who lack the interest and/or ability to embrace a sustainable energy solution.
Harnessing the power of tools and systems can improve efficiency and free up more time for prospecting.
What’s the most common challenge salespeople face? You probably guessed it: the clock. If there never seems to be enough time in the day to accomplish your prospecting goals, there are many ways that you can better optimize your schedule. One of the most effective methods of organizing your sales funnel and maximizing your time spent on leads is investing in a good CRM. CRM stands for customer relationship management, and there are a lot of them out there. To put it simply, knowing how to use a CRM tool allows you to manage all of your interactions with current and prospective clients, helping to keep you organized and productive.
A CRM can prove to be a total game-changer for any business. Even so, these systems still have yet to be adopted by the majority of organizations. 57% of sales teams don’t use a CRM in any capacity. Of those who do, many might not be using a good one that helps them do their jobs better.
Depending on your chosen platform, a CRM can be a bit intimidating. Many sales teams might feel frustrated or overwhelmed on their first exposure to a seemingly-complicated app.. Busy salespeople might be tempted to skip learning how to use it appropriately. As a result, they neglect to properly record and update their entries, resulting in major data discrepancies. Studies show that a whopping 91% of all CRM data is bad, leading to a serious lack of performance control.
Data entry is often regarded as a menial, time-consuming administrative process. If it gets done at all, it might get pawned off to third parties who aren’t familiar with the prospects they’re entering into the tool. It makes sense that the sales team would rather be selling, but when used consistently and correctly, CRM platforms are critical to success. Ultimately sales teams who use them right will streamline the sales process, have well-developed sales pipelines, automate tedious but important tasks, and be empowered to accurately analyze sales data. When you join our solar dealer program, you’ll have immediate access to our in-house sales tools and install resources; all the reps have to do is sell.
Despite the rapid digitalization of our world, the majority of sales are still made in the field.
It may be hard to believe, but the tried-and-true strategy of a face-to-face sales pitch still reigns supreme. An impressive amount of sales – over 70% – still happen the old-fashioned way.
Even so, advancements in communication technology (think Zoom and Google Meet) have led to 45% of field sales becoming more “hybrid.” The balance of automated processes and in-person interaction gives salespeople and their clients the best of both worlds.
Multi-channel selling is becoming increasingly common. As a sales rep, it is your job to respond to market trends and new customer patterns. Work to develop the skills to sell solar panels virtually to extend your territory and potential reach. It is still more likely that the sale will be closed in the field, but keep yourself flexible and able to be productive without subjecting yourself to a commute.
Close to half of all sales reps will miss quota.
It’s the word that lives in every sales rep’s mind rent-free: quota. Depending upon your mindset, the thought of this performance expectation can either increase your motivation or elicit anxiety.
43% of reps will fall short of their sales quota. In these moments, a savvy salesperson does not make excuses but instead acknowledges responsibility and commits to developing a better plan. Once you pull together a solid strategy, you’re bound to improve your numbers.
There are several ways to increase your chances of meeting – or even exceeding – your sales quota. A good starting point is to commit some time to reframing your strategy. Despite our industry’s exponential growth, solar isn’t just some fad technology. The world’s increasing interest and commitment to embracing renewable energy sources proves that solar is here to stay. Remember, you are not just selling solar panel products, you’re selling an advanced, clean energy solution and chance at an improved lifestyle for your clients. Recognizing that there is a powerful purpose to your work may give you that extra jolt of motivation throughout your sales journey.
Fear of facing your failures is the leading cause of sales stress. If you don’t meet your goals, be weary of falling down the ultra-tempting rabbit hole of panic and self-doubt. Eventually, it keeps you spinning through a never-ending cycle of demotivation and consistently missed sales targets. Too many beginners fall into this trap, leading to fast turnover. One often-quoted phrase in business is “Fail Forward Fast” – if you made a mistake that lost you a sale, or you’re not finding success with your current tactics, learn from that experience quickly and get on to the next opportunity with a new approach.
Encouraging development and recognizing your “wins” will help to increase morale and improve outcomes. Aim to develop a thorough understanding of the individual strengths of yourself and your team. This will help everyone develop and grow at their own rate.
Last but not least, be sure to have an understanding of your market before setting your sales expectations. Your sales goal should never be a number merely plucked out of thin air. Although a lofty sales goal may initially inspire you, setting unrealistic expectations for yourself is not an effective long-term strategy. Develop a thorough understanding of your market in order to produce an accurate sales forecast. This forecast will then guide you toward a quota that is actually attainable. When you start selling in the ESP Authorized Dealer Program, you’ll have the chance to connect regularly with an Account Executive who can provide insights on hot territories where installs proceed quickly. You can count on our data from thousands of projects to guide your planning and develop good forecasting protocols in your organization.