Maximizing Sales Effectiveness


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Maximizing Sales Effectiveness

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Maximizing Sales Effectiveness

  1. 1. Training Your Managers: Maximizing Sales Effectiveness Nick Bilava
  2. 2. Purpose of Today’s Session <ul><li>Making your managers effective sales people </li></ul><ul><ul><li>The moment of truth – closing the sale </li></ul></ul><ul><li>Measuring your marketing </li></ul><ul><ul><li>Why it’s important and how to do it accurately </li></ul></ul><ul><li>Maximizing your marketing spend </li></ul><ul><ul><li>How to cut marketing spend yet increase occupancy </li></ul></ul>
  3. 3. How do People Shop for Storage? <ul><li>The Web </li></ul><ul><ul><li>Need to have a web presence </li></ul></ul><ul><ul><li>Can display large amount of information to potential prospects </li></ul></ul><ul><ul><li>Can even offer online rentals </li></ul></ul><ul><li>Yellow Pages </li></ul><ul><li>Word of mouth </li></ul><ul><li>Drive by and external signage </li></ul>
  4. 4. <ul><li>Contact those that have the right fit </li></ul><ul><ul><li>Unit type </li></ul></ul><ul><ul><li>Location </li></ul></ul><ul><ul><li>Price </li></ul></ul><ul><li>Do business with people they like </li></ul><ul><ul><li>Great customer service </li></ul></ul><ul><ul><li>Easy to do business with </li></ul></ul><ul><ul><li>Available, knowledgeable, helpful, friendly </li></ul></ul>How do People Shop for Storage?
  5. 5. The Importance of Closing the Sale <ul><li>Company with 5 facilities </li></ul><ul><ul><li>400 units per facility </li></ul></ul><ul><ul><li>2000 rentable units per year </li></ul></ul><ul><li>Current occupancy: 88% </li></ul><ul><li>Increasing occupancy to 93% equates to 100 more rentals and $100,000 additional revenue per year! </li></ul><ul><ul><li>Plus revenue from ancillary product sales! </li></ul></ul>
  6. 6. Keys to Closing the Deal <ul><li>Answer your phone…….. and be ready to help </li></ul><ul><li>Understand your customers’ requirements </li></ul><ul><li>Be patient </li></ul><ul><li>Solve the problem </li></ul><ul><li>Ask for the business </li></ul><ul><li>Secure the deal </li></ul>
  7. 7. Answer Your Phone! <ul><li>28% of all calls are not answered or go to voice mail </li></ul><ul><li>Based on a 65% first call close rate, money is walking out your door! </li></ul>You never get a second chance to make a first impression!
  8. 8. Understand Your Customers’ Requirements <ul><li>Ask questions </li></ul><ul><ul><li>Validate their needs </li></ul></ul><ul><ul><li>Many have not used self storage before </li></ul></ul><ul><li>Be helpful </li></ul><ul><ul><li>Do they really need a 10X20 or would something smaller suffice </li></ul></ul><ul><ul><li>Do they need climate control or can they do without </li></ul></ul><ul><li>Set yourself apart from your competition </li></ul><ul><ul><li>Focus on facility strengths that meet their needs </li></ul></ul>
  9. 9. Be Patient <ul><li>Most customers are going through some life changing event </li></ul><ul><ul><li>Divorce </li></ul></ul><ul><ul><li>Military deployment </li></ul></ul><ul><ul><li>Child leaving for college </li></ul></ul><ul><ul><li>Death </li></ul></ul><ul><ul><li>Other </li></ul></ul>A little understanding can go a long way!
  10. 10. Solve the Problem <ul><li>Make the process easy </li></ul><ul><li>Lead the conversation by asking key questions </li></ul><ul><li>Explain the details of storing & what they can expect from you </li></ul><ul><li>Convey why your facility best meets their needs </li></ul><ul><li>Handle potential customers how you would like to be treated </li></ul><ul><li>What tactics would close the deal for you? </li></ul>
  11. 11. Ask for the Business! <ul><li>Don’t just “quote and hope” </li></ul><ul><li>Can’t rent if you don’t ask </li></ul><ul><ul><li>Repeat the offer and why you are the best facility </li></ul></ul><ul><ul><li>Create urgency </li></ul></ul><ul><li>Logical next step after solving their storage problem </li></ul><ul><li>Getting a commitment to “come in and take a look” isn’t very strong </li></ul><ul><ul><li>Odds are they will continue to shop around & your competition may ask for their business! </li></ul></ul><ul><ul><li>Offer up a definitive next step if they are not ready to rent on the phone </li></ul></ul>
  12. 12. Secure the Deal <ul><li>Ask for a deposit – double the odds of a rental </li></ul><ul><ul><li>65% of callers will reserve with a credit card on the 1 st call if asked – without a visit to the facility! </li></ul></ul><ul><ul><li>90% of those that reserve with credit card move in </li></ul></ul><ul><ul><li>Only 45% move in if no credit card deposit is given </li></ul></ul><ul><li>Additional advantages of getting a credit card </li></ul><ul><ul><li>Can set customer up for auto-billing </li></ul></ul><ul><ul><ul><li>Fewer delinquencies </li></ul></ul></ul><ul><ul><ul><li>Better billing procedures </li></ul></ul></ul>
  13. 13. Measuring Your Marketing - The Importance of Tracking Prospects <ul><li>Know where your rentals are coming from </li></ul><ul><ul><li>Tracking numbers, coupon codes, web analytics </li></ul></ul><ul><li>Don’t just ask the customer! </li></ul><ul><ul><li>90-95% of managers forget to ask or don’t drill down when given a nebulous answer </li></ul></ul><ul><ul><li>50% of your customers will make something up when asked, “How did you find us?” </li></ul></ul><ul><li>Evaluate each marketing effort on true ROI </li></ul><ul><li>Cut ineffective marketing to save precious marketing $$$ </li></ul>Trust…but Verify!!
  14. 14. Using Tracking Number Technology <ul><li>Verify call volume from each ad source </li></ul><ul><li>Track rental volume & true ROI </li></ul><ul><li>Spot call trends </li></ul><ul><ul><li>Seasonality, Geographic trends, etc. </li></ul></ul><ul><li>Gather caller data for advanced marketing </li></ul><ul><li>Mystery shop using actual customer calls </li></ul><ul><ul><li>Reinforce positive phone sales techniques </li></ul></ul><ul><ul><li>Correct & train when necessary </li></ul></ul>
  15. 15. Maximizing Your Marketing Spend <ul><li>When you correctly track marketing and effectively close sales you will see much better marketing returns. </li></ul><ul><li>Odds are you will be able to spend less on marketing yet see more tenants! </li></ul>
  16. 16. Summary <ul><li>It’s more competitive than ever, you need to advertise – but spend wisely </li></ul><ul><ul><li>What worked yesterday may not work today </li></ul></ul><ul><li>You get one chance to make a first impression </li></ul><ul><ul><li>Don’t let revenue fly out the door </li></ul></ul><ul><ul><ul><li>Be there </li></ul></ul></ul><ul><ul><ul><li>Be helpful & friendly </li></ul></ul></ul><ul><ul><ul><li>Ask for the sale </li></ul></ul></ul><ul><li>Track marketing channels and verify data to ensure your ROI is the best it can be </li></ul>
  17. 17. Thanks for Joining Us! <ul><li>Nick Bilava </li></ul><ul><ul><li>[email_address] </li></ul></ul><ul><ul><li>866-880-0742 </li></ul></ul>