CO - Markinnovation

Tactics to increase conversion rate

Tactics to increase conversion rate
  1. ALPHA Sales System
Most sales systems focuses on the presentation, objection handling and closing techniques. In my opinion, this is flawed. In my 20+ years of selling, I realise that the pre selling is more critical than the actual sales presentation. If I could handle and qualify my prospects, I will be able to save much time and effort and present only to those who truly are interested in my products/services.
How do I do that? I QUALIFY them before presenting. My ALPHA Sales System emphasizes and builds strongly on the 2 components that MUST happen before I even present my products/services.
A TTRACT
L EVERAGE
P RESENT
H ANDLE
A CTION
If we want to improve our conversion rate, we need to spend time on qualifies prospects and filter out the rest. Imagine ONLY presenting to prospects that are hungry and wanting our products/services, how much easier selling would be.
 
  1. How may I help you?
Imagine walking into a store and having the sales person greet you with :
“Hello, welcome to “Shop”. My name is “Name”. How may I help you?”
What would be your most instinctive response? For many of us, the usual answer will be “Just looking around”. If the Sales person presses on, most of us will abandon our purchase and leave the store. If this is the case, why then do we think our prospects are any different from us? Do unto others what you want others to do unto you. If we respond negatively to this greeting, so too will our prospects. As such, PLEASE DO NOT USE THIS STANDARD GREETING.
Instead, use a powerful HOOKLINE as your opening. What is a HOOKLINE? It is the bait in which you ATTRACT your prospects to create such a curiosity that they want to know more. There are some components you could include in your HOOKLINE to make it powerful, these includes :
  1. Taking away pain
  2. Giving Pleasure
  3. Creating Curiosity
  4. USP
Test this and watch how prospects start to ask you for a sales presentation.
Below is a funny video about “How May I Help You?”
https://www.youtube.com/watch?v=jCtml_r7c9Y
  1. Pain VS Pleasure
All man are subject to 2 masters, according to Tony Robbins. In NLP and Neuro Associative Conditioning, we learn that all decisions are founded either in avoidance of pain or for pursuit of pleasure. As sales people then, our objective is to move our prospect to wanting to buy our products or services thus the skill to elicit whether the prospect is motivated by pain or pleasure is very important.
In order for us to effectively leverage, we need to discover which one of the 2 masters are more pronounced to our prospect, if we cannot, then it would be best to use both leverage of pain AND pleasure.
When I am selling, I use a lot of a technique called “Borrowing Arrows” from the ancient Chinese Classic “Romance of The 3 Kingdoms”. This technique allows me to draw out from my prospects what their motivations and hot buttons are. If I am unable to get a good read of the prospects willingness to buy or if I am unable to leverage the motivation to the point of strong desire, I will not present my product/services.
Watch this video from Tony Robbins on these 2 factors
https://www.youtube.com/watch?v=HeJPQRIhCHs
  1. FAB
Everybody knows that we need to sell benefits and not features. What then is a benefit? If we look at the list of features below, what would you say the benefits are?
  1. Black in colour
  2. Light weight
  3. Compact Size
  4. Water resistant
If you said that the benefit for “Black in Colour” is easy to maintain & looks good, my question would be is that what the prospect might be looking for? Or is it more likely they are looking for something value for money which means that it is able to last longer and thus not needing replacement too soon? This in turn will help the prospect to save money in the long run. Now take some time and think about the benefits of the rest, what do they really mean to the prospects. Go deep and push to the end, what this means go until you cannot answer this question anymore “What does that mean to the prospect?”
Most sales people make the mistake of thinking benefit is what the product/service will give to the prospect. That is not accurate. The benefit is actually what the prospect will get not what the product/service will do. It may seem like semantics but the net results are very different. 1 tells the prospect what the product/service does which is an external focus and the other is what the prospect will get which is relevant and internal focused.
  1. Prehandle
Many sales people learn objection handling like their FAQ. They use it like their defence. When a prospect says A, they will say what their learnt counter is. I find this highly inefficient.
Objection handling is like a boxing match. In my opinion, in boxing, the best defense is a strong offense. As such, I usually love to present the top objections before the prospect brings it up. This way, I seldom get the same objections again. What this means is, I will speak of my own product/service shortfall before clients raise it.

I do this by 1st knowing what my most common objections are and then repositioning them into strengths or negligible weaknesses. Pre framing these objections into strengths prevents the prospects from using them as an excuse not to buy.
Let me share some examples :
  1. Property located far from the city : Becomes “a quiet serene, lush home for your future generations to grow up in”
  2. Property in middle of city : Becomes “Conveniently located”
  3. Management fees : Becomes “Well managed by professionals for our highly valued customers”
What can you Pre frame in your business?  
  1. Impulse Factors
This is my very 1st sales technique. I learnt it in my days doing door to door sales of discount cards. There are 5 basic human Impulse Factors. The factors that create impulsive buying. These 5 are :
  1. Greed
    • People are greedy. They always want more for less.
  2. Fear Of Loss (Kia Si)
    • People are afraid of losing out
  3. Jones’ Theory (Kia Su)
    • People always want what others have and they don’t want to be the only person making a mistake
  4. Indifference
    • The person who wants the sales more will not get the sales. Prospects can smell a shark from a mile away.
  5. Urgency
    • If you are not urgent for your time, business must be slow and thus the product/service is likely not as good.

After studying NLP and other factors of psychology, I realise these Impulse Factors stem from the innate instinct to keep ourselves alive. What this means is, though we may logically know this, when faced with someone using these factors, our brains still jump into instinct and we are very likely to still buy.

  • Soo Hoo Yoon Hunn
    Soo Hoo Yoon Hunn
    Internationally Licensed Master Trainer

    Currently serving as the President of the Malaysian Association of Professional Trainers and Coaches (MAPTaC), Soo Hoo has been a trainer in the area of Subliminal Persuasion, Entrepreneurship and Mindset Breakthrough since 2007. In recognition of his achievements and contribution Soo Hoo is awarded with the prestigious Global Training & Development Leadership Award by The World HRD Congress in their Silver Jubilee Celebration.

You May Also Like

Brand Equity – How can the credit function help?
Brand Equity – How can the credit function help?

Investing in Brand Equity is becoming an effective business strategy not only to retain customers an...

Innovation-Driven Marketing vs.  Marketing-Driven Innovation
Innovation-Driven Marketing vs. Marketing-Driven Innovation

Is your company adding value or are you pretending and trying to make a name for yourself? Why do I...

Why Is Corporate Identity  Important For Any Business?
Why Is Corporate Identity Important For Any Business?

Corporate identity is quite similar to what we talk about our own identity, and the specifics that d...

Out-of-Box, In-the-Box,  New-Box, Other-Box, No-Box
Out-of-Box, In-the-Box, New-Box, Other-Box, No-Box

Thinking For years supporters and detractors of creative thinking in the workplace have talked about...

Pricing Strategy
Pricing Strategy

In general, the pricing strategy is very important for retail companies in order to achieve the sale...

Why Content is the true north of Account-based Marketing? – Final
Why Content is the true north of Account-based Marketing? – Final

We began exploring the four-legs of the content strategy tool, and uncovered just why context is eve...

5 Trends and Challenges for the Agency Industry
5 Trends and Challenges for the Agency Industry

One of the trends to continue will be brands bringing agency work in-house. As Ramchandani writes, &...

Why winning customer trust is key to startup success
Why winning customer trust is key to startup success

Interview of Philipp Kristian, author of 'The Trust Economy’ What are the top three emerg...

How to choose a domain name?
How to choose a domain name?

A domain name is the website name that people can type into their browser like >google.com,&...

How to promote your Business on Google Maps with Google Posts
How to promote your Business on Google Maps with Google Posts

Google has just rolled out yet another useful tool, especially for small business owners: Google Pos...

Challenges in Deep Learning technology
Challenges in Deep Learning technology

Although the estimated market growth for Deep Learning is $10.2 billion by the end of 2025, it has s...

Content Marketing Phooey
Content Marketing Phooey

I agree "Content Marketing" is a VITALLY important component of the Promotional Mix and es...

On Becoming Customer Centric
On Becoming Customer Centric

On Becoming Customer Centric     Some say “customer centricity” has become ...

It’s the stakeholder, stupid!
It’s the stakeholder, stupid!

Why it took me four years to build a website... This week marked an important milestone in my profe...

UltraCreativity -
UltraCreativity - "Cannot" does not exist in my vocabulary!

I’ve decided long ago that the word “cannot” does not exist in my vocabulary. For ...

Platforms And Content – The Business Model Of The 21th Century
Platforms And Content – The Business Model Of The 21th Century

Amazon is buying the rights of UEFA Championships, Disney is launching/expanding its own content pla...

Tools & Resources Every Marketer Needs To Navigate COVID-19 Crisis
Tools & Resources Every Marketer Needs To Navigate COVID-19 Crisis

It’s clear that COVID-19 has drastically altered the advertising and marketing landscape as mo...

The Hidden Truth In Creating Best Airbnb Experience
The Hidden Truth In Creating Best Airbnb Experience

Here are Questions That I have Got This Week Around Airbnb Experience From Fellow Friends and Contac...

What is the future of Programmatic Advertising?
What is the future of Programmatic Advertising?

Data in the 21st century is like oil in the 19th century. Data is currently seen as valuable asset w...

From PR to e-PR - Future of media relations
From PR to e-PR - Future of media relations

Imagine if 20 years ago, someone told you that every organization will need accounting software, wha...

When personal brands go to war...
When personal brands go to war...

The start of this past weekend was highly interesting for Twitter users. It wasn’t actually a ...

Surviving and soon thriving again: what you're doing now really matters
Surviving and soon thriving again: what you're doing now really matters

Five weeks ago, before any of us really knew ‘how bad things would get’ I wrote on Linke...

Good Brands Sell Products; Great Brands Tell Stories
Good Brands Sell Products; Great Brands Tell Stories

If you need to survive in this dog-eat-dog business world, then you need to connect with customers i...

Stay Connected With Us