Are You In A Credit Repair Sales Funk? 4 Ways to Unfunk Sales!
“I woke up this morning thinking about how I can increase my sales! Yeah right, like that just popped into my head? AGAIN! I normally think about it more and more when my sales are down, even though I’ve been doing everything that has worked in the past. So what’s wrong?”
If you’re asking yourself this question more and more, you are officially in a credit repair sales funk!
Sales are very emotional. There is no better feeling than to set a sales goal, execute it, and accomplish it. When you start doing this over and over again, you get used to the success. If you are not careful, and you stay in your sales funk, you can get used to this as well. Be CAREFUL! Acceptance of failure normally leads you down the path of least resistance.
In order to figure out how funky you really are, you must understand that everything changes and evolves, and if you are not paying attention, sales opportunities may pass you by. Performing a sales department assessment is critical to unfunking your sales.
Here are four things a sales manager (remember, it does not matter if you are a company of 1 or 100, the process is the same) needs to assess in order to boost sales, and more importantly, give you the ability to provide a successful, planned growth.
Does Your Credit Repair Business have a Real Sales Strategy?
It all starts with a clear, powerful sales strategy. What is your 2018 / 19 sales strategy? How are you going to market? How are you going to close more credit repair sales? What market opportunities or weaknesses are you going to exploit? What competitors are you going to target? What type of affiliate referral agents am I going to recruit? What new markets are you going to penetrate? What industry changes are you going to leverage? Starting with a great strategy is key. Having the wrong strategy or worse yet, no strategy can be devastating. (Tip 1: Perform a Sales SWOT Analysis: Strengths, Weakness, Opportunities, Threats. Next Blog: “DRIVE YOUR CREDIT REPAIR SALES! DO I SWOT or SWOT PLUS!”)
Have You Implemented a Credit Repair Sales Framework?
The sales framework of your credit repair business supports its sales strategy. It’s the core to consistently execute your sales strategy. Your sales framework ensures you have the right pieces in place. Without it, your strategy is dead in the water. Not to mention that without a framework in place you will drive your staff crazy because there is no easily defined path to success.
The key is to make sure your framework supports your strategic efforts. Does your strategy require inside or outside sales? Does it require hunters or farmers? Does it require content and new web support? Is your sales process compliant? Does it require alternative compensation plans? Does it require new territories and, therefore, licensing and bonding requirements? Who are your customers, what is their profile? What does your strategy require for it to be successful?
Your framework will provide the answers to these questions, and others, to ensure you implement the right strategy; you should include sales operations and sales enablement as well. It’s all the things that enable your strategy to take flight. (Tip 2: Categorize your strategies into 1-2: short-term strategies, medium-term strategies, and long-term strategies in order to help you prioritize and plan for the future.)
Are your salespeople right for your Credit Repair Business?
People are the most important aspect of driving revenue and often, the most forgotten. Whether you have a sales force or it’s just you. After providing thousands of hours of credit repair training, coaching, mentoring, or consulting to credit repair organization for almost a decade, I realized that this is by far the most common reason why credit repair organizations are not successful.
Making cash register ring, on purpose, is the biggest challenge most credit repair organizations face. If you don’t have the right people in the right roles nothing will get done. People are the core of execution. Making sure you have the right people in the right roles is critical. If the people part is off, nothing else matters. A great way to gauge the fit of a potential sales person to your business, at a high level, is to understand that candidate’s story. You see, when you are interviewing a candidate, they are prepared to answer the questions, not tell you their story. The story can give you insight as to what that person does when no one is looking at them. This is an important trait to understand for every candidate soliciting a credit repair sales position. (Tip 3: When you are satisfied with your candidates’ stories, have them take a profile assessment, and understand their personality archetypes.)
Are your Processes In Place?
When there is a process in place, everything works better, even if the process is off. In order to ensure that all is running smoothly, quickly and efficiently, and in order to avoid wasting time and effort, a credit repair sales process has to be in place (it doesn’t matter if you’re a business of 1 or 100).
A bad process is like having your mechanic try to fix the engine in your car while it’s running. You need a better process. Quite frankly, any process is a great start. A poor process can take away from time to market and execution and slow things down, but no process will definitely shut you down. When processes aren’t working correctly or they don’t exist, the ability to achieve goals is severely hindered. Check out thelockboss.
Review your processes. Ask yourself: does the process improve my ability to close sales or hurt it? What does your sales process look like? Map it. Does it accelerate the sale? Ask your salespeople, they will tell you what’s wrong. Does it include the customer’s buying process? What is your team development process? What about your pipeline meeting process, your coaching process, lead development process, your win/loss assessment process, your onboarding process, your hiring process, etc.? Do you have the right processes in place to ensure that you can deliver?
Implementing light, functional, effective processes is like supercharging your car. It makes everything go BOOM! Take a look at all your processes and make sure they improve your team’s ability to sell. Make sure they align with the strategy and structure as well as empower the people.
Growing your credit repair revenue is not about one single thing, but rather a targeted, precise, aligned set of objectives across these four areas. If your credit repair sales are in a funk, you must consistently achieve success, and the only way to empower yourself and your staff to do so are through consistent development, improvement, and training. (Tip 4: Any process, even the wrong ones, will drive you closer to the right sales process for your credit repair business.)
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