In this post, we discuss Episode 201 of the Sales Secrets podcast, titled Scientific Sales Conversations w/ Udi Lederer. Here, you can gain a better understanding of the science behind the art of selling through my discussion with sales expert Udi Lederer of Gong.io.
In this article:
- 6 Tips on How to Improve Conversion Rate
Podcast Recap: Scientific Sales Conversations w/Udi Lederer
In this podcast, I talk to Udi Ledergor, the vice president of Gong.io, to uncover the science behind the art of sales. Gong is a company that specializes in utilizing artificial intelligence to determine what allows top sellers to go above and beyond the average sales conversion rate.
They work with sales managers who want to boost their conversions by improving their team’s performance. Gong’s goal is to uncover the secret on how to make their client’s salespeople become topnotch entrepreneurs.
Here, Ledergor shares some of the most important tips salespeople can apply to improve their performance.
Conversion Rate Definition: This describes the percentage of people who have done an action you’ve set them out to do. In sales, this means a successful sale.
6 Tips on How to Improve Conversion Rate
1. Listening to the Prospect
Ledergor stresses the importance of learning when to keep your mouth shut. A lot of salespeople are too afraid of awkward pauses and silences in between calls and meetings.
You need to understand that the quickest way to find out what a prospect wants is to have them say it. You can’t determine their pain points or what their underlying problems are if you won’t give them the chance to talk about it.
In fact, Ledergor states that salespeople should only speak about 46% of the time and listen during the rest. However, after analyzing millions of sales calls, Gong uncovered that a lot of sales reps talk about 70% to 80% of the time.
Not only are you bombarding the client with multiple pieces of information, but you’re not even sure if they’re listening to you.
They didn’t sign up for a one-hour lecture on why your company is the best thing to happen on earth. Rather, they want to know how you and your company can help them, so give them that.
Learn when to keep your mouth shut so your client has an opening to tell you exactly what they’re looking for. That way, you know what to do to close the deal.
2. Engaging in Conversation
While it’s important to listen to your client, Ledergor advises that it’s equally important to say what you have to. The goal here is to get the message across to the client, not simply listen to what their problems are.
In fact, Gong’s studies show that not only do top-performing sales reps talk less, but they also have more speaker switches during a conversation. That means both you and the client are actively speaking and listening.
One solid way to achieve that level of engagement is to ask probing questions. If you want to know what the client’s pain points are, ask them.
You don’t have to beat around the bush. Just go right out and ask what the biggest problem they have right now is.
Of course, try to ensure that you have a solution to whatever problem they might say. If you don’t, you’ll only give them a reason not to work with you.
3. Don’t Ask All the Probing Questions Right Away
Another mistake salespeople commit is asking all their questions right from the get-go. This only makes it look like you’re in a hurry to finish the client call or meeting.
Studies show that topnotch sales reps distribute their questions evenly throughout a conversation. Ask the right probing questions, listen to them intently, propose a solution to their problem, and repeat throughout the conversation.
As opposed to bombarding the client with multiple questions, this is more engaging and less intrusive. Plus, your client can’t really answer all your questions right away, can they?
They need enough time to think about what they want — which brings us back to the importance of not fearing awkward silences. Instead of trying to break the silence, let the client have a moment alone with their thoughts.
You don’t really expect your prospects to list down all their problems in advance on paper for you to read during the meeting, do you? This is why it’s important to give them the time they need to think about their answers.
4. Ditch Feature Dumping
Conventional sales tactics tell salespeople to lay down all the features of their goods or services for the client to absorb. However, Ledergor states that this is an outdated way to deliver a sales pitch.
After learning about what your client’s problems are, you might already have an idea of what you can do to help them, so there’s really no need to tell them about the services or products they have no use for.
To avoid feature dumping, delay giving a full demo until the last quarter of your conversation. Dedicate the first three quarters to finding out what their problems are while giving small hints on how you can help them.
By doing so, you can filter out exactly what you should say to close the deal. Apply this in every pitch you do to increase your sales conversion rates.
5. Use AI Programs
Ledergor states that sales leaders who want to retain their jobs in the coming years need to utilize AI tools and programs. The industry is quickly changing and those who cannot maximize the technological advancements available might not survive.
Whether they realize it or not, Ledergor says that a lot of salespeople don’t know how to maximize their day. In fact, most only spend 30% of their time closing deals.
Salespeople have no choice but to allot the majority of their day to prospecting, follow-up calls, data gathering, and scheduling appointments, among others. To improve your conversions, you basically have to increase the amount of time you spend closing deals.
Salespeople can do so by reassigning the tasks they don’t necessarily have to accomplish themselves. Instead of hiring someone else to work for you, the cost-effective alternative would be to seek help from AI.
For example, it doesn’t really matter who inputs client data in your CRM, right? So, why not have AI do it?
6. Combine AI With Your Talent
While extremely useful, we both agree that AI can never truly replace human interaction. AI does not have the ability to engage in conversation, read body language, and determine the client’s pain points.
A computer program cannot fully convince a client to share with them their problems, but a talented salesperson can.
Identify the client’s pain points through human interaction, then use AI to deliver the solutions in the best way possible. You can save a lot of time, money, and effort by doing so.
Feel free to modify these techniques to update your sales talk and create a sales program that will work best for you. Remember, as a salesperson, your goal should be to deliver viable solutions to your clients’ problems, not just to increase sales conversions. Be sure to strike a balance to reap the rewards — become a problem-solving entrepreneur and the profits will follow.
Do you think these tips will help you increase your sales conversions? Share your thoughts with us in the comments section down below!
Links and Resources Mentioned in This Episode: