Maximizing Sales Effectiveness
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Transcript of Maximizing Sales Effectiveness
Training Your Managers:Training Your Managers:Maximizing Sales EffectivenessMaximizing Sales Effectiveness
Nick BilavaNick Bilava
Purpose of Today’s SessionPurpose of Today’s Session
Making your managers effective sales peopleMaking your managers effective sales people The moment of truth – closing the saleThe moment of truth – closing the sale
Measuring your marketingMeasuring your marketing Why it’s important and how to do it accuratelyWhy it’s important and how to do it accurately
Maximizing your marketing spendMaximizing your marketing spend How to cut marketing spend yet increase occupancyHow to cut marketing spend yet increase occupancy
How do People Shop for Storage?How do People Shop for Storage?
The WebThe Web Need to have a web presenceNeed to have a web presence Can display large amount of information to potential prospectsCan display large amount of information to potential prospects Can even offer online rentalsCan even offer online rentals
Yellow PagesYellow Pages
Word of mouthWord of mouth
Drive by and external signageDrive by and external signage
Contact those that have the right fitContact those that have the right fit Unit typeUnit type LocationLocation PricePrice
Do business with people they likeDo business with people they like Great customer serviceGreat customer service Easy to do business withEasy to do business with Available, knowledgeable, helpful, friendlyAvailable, knowledgeable, helpful, friendly
How do People Shop for Storage?How do People Shop for Storage?
The Importance of Closing the SaleThe Importance of Closing the Sale
Company with 5 facilitiesCompany with 5 facilities 400 units per facility400 units per facility 2000 rentable units per year 2000 rentable units per year
Current occupancy: 88%Current occupancy: 88%
Increasing occupancy to 93% Increasing occupancy to 93% equates to 100 more rentals and equates to 100 more rentals and $100,000 additional revenue per year!$100,000 additional revenue per year! Plus revenue from ancillary product sales!Plus revenue from ancillary product sales!
Keys to Closing the DealKeys to Closing the Deal
Answer your phone…….. and be ready to Answer your phone…….. and be ready to helphelp
Understand your customers’ requirementsUnderstand your customers’ requirements
Be patientBe patient
Solve the problemSolve the problem
Ask for the businessAsk for the business
Secure the dealSecure the deal
Answer Your Phone!Answer Your Phone!
28%28% of all calls are not of all calls are not answered or answered or go to voice mailgo to voice mail
Based on a Based on a 65%65% first call close first call close rate, money is walking out rate, money is walking out your door!your door!
Understand Your Customers’ Understand Your Customers’ RequirementsRequirements
Ask questionsAsk questions Validate their needsValidate their needs Many have not used self storage beforeMany have not used self storage before
Be helpfulBe helpful Do they really need a 10X20 or would something smaller sufficeDo they really need a 10X20 or would something smaller suffice Do they need climate control or can they do withoutDo they need climate control or can they do without
Set yourself apart from your competitionSet yourself apart from your competition Focus on facility strengths that meet their needsFocus on facility strengths that meet their needs
Be PatientBe Patient
Most customers are going through some life changing Most customers are going through some life changing eventevent DivorceDivorce Military deploymentMilitary deployment Child leaving for collegeChild leaving for college DeathDeath OtherOther
A little understanding can go a long way!
Solve the ProblemSolve the Problem
Make the process easyMake the process easy Lead the conversation by asking key questionsLead the conversation by asking key questions Explain the details of storing & what they can expect Explain the details of storing & what they can expect
from youfrom you Convey why your facility best meets their needsConvey why your facility best meets their needs Handle potential customers how you would like to be Handle potential customers how you would like to be
treatedtreated
What tactics would close the deal for you?What tactics would close the deal for you?
Ask for the Business!Ask for the Business!
Don’t just “quote and hope”Don’t just “quote and hope” Can’t rent if you don’t askCan’t rent if you don’t ask
Repeat the offer and why you are the best facilityRepeat the offer and why you are the best facility Create urgencyCreate urgency
Logical next step after solving their storage problemLogical next step after solving their storage problem Getting a commitment to “come in and take a look” isn’t Getting a commitment to “come in and take a look” isn’t
very strongvery strong Odds are they will continue to shop around & your competition may ask Odds are they will continue to shop around & your competition may ask
for their business!for their business! Offer up a definitive next step if they are not ready to rent on the phoneOffer up a definitive next step if they are not ready to rent on the phone
Secure the DealSecure the Deal
Ask for a deposit – double the odds of a rentalAsk for a deposit – double the odds of a rental 65%65% of callers will reserve with a credit card on the 1 of callers will reserve with a credit card on the 1stst call if asked – call if asked –
without a visit to the facility!without a visit to the facility! 90%90% of those that reserve with credit card move in of those that reserve with credit card move in Only Only 45%45% move in if no credit card deposit is given move in if no credit card deposit is given
Additional advantages of getting a credit cardAdditional advantages of getting a credit card Can set customer up for auto-billingCan set customer up for auto-billing
Fewer delinquenciesFewer delinquencies
Better billing proceduresBetter billing procedures
Measuring Your Marketing - The Measuring Your Marketing - The Importance of Tracking ProspectsImportance of Tracking Prospects
KnowKnow where your rentals are coming from where your rentals are coming from Tracking numbers, coupon codes, web analyticsTracking numbers, coupon codes, web analytics
Don’t just ask the customer!Don’t just ask the customer! 90-95%90-95% of managers forget to ask or don’t drill down when given a of managers forget to ask or don’t drill down when given a
nebulous answernebulous answer 50%50% of your customers will make something up when asked, “How did of your customers will make something up when asked, “How did
you find us?”you find us?” Evaluate each marketing effort on true ROIEvaluate each marketing effort on true ROI Cut ineffective marketing to save precious marketing $Cut ineffective marketing to save precious marketing $
$$$$
Trust…but Verify!!
Using Tracking Number TechnologyUsing Tracking Number Technology
Verify call volume from each ad Verify call volume from each ad sourcesource
Track rental volume & true ROITrack rental volume & true ROI Spot call trendsSpot call trends
Seasonality, Geographic trends, etc.Seasonality, Geographic trends, etc.
Gather caller data for advanced Gather caller data for advanced marketingmarketing
Mystery shop using actual customer Mystery shop using actual customer callscalls Reinforce positive phone sales techniquesReinforce positive phone sales techniques Correct & train when necessaryCorrect & train when necessary
Maximizing Your Marketing SpendMaximizing Your Marketing Spend
When you correctly track marketing When you correctly track marketing and effectively close sales you will and effectively close sales you will see much better marketing returns.see much better marketing returns.
Odds are you will be able to spend Odds are you will be able to spend less on marketing yet see more less on marketing yet see more tenants!tenants!
SummarySummary
It’s more competitive than ever, you need to advertise It’s more competitive than ever, you need to advertise – but spend wisely– but spend wisely What worked yesterday may not work todayWhat worked yesterday may not work today
You get one chance to make a first impressionYou get one chance to make a first impression Don’t let revenue fly out the doorDon’t let revenue fly out the door
Be thereBe there Be helpful & friendlyBe helpful & friendly Ask for the saleAsk for the sale
Track marketing channels and verify data to ensure Track marketing channels and verify data to ensure your ROI is the best it can beyour ROI is the best it can be
Thanks for Joining Us!Thanks for Joining Us!
Nick BilavaNick Bilava [email protected] 866-880-0742866-880-0742