With any startup or small business, it’s exciting to make your first sale and start seeing your sales grow. But any company looking to grow bigger can’t count on singular deals alone to take the business to the next level.
High growth not only means a higher volume of business, but it also requires bigger business deals.
So how do you transform a small sale into a larger deal? Reminding of a recent experience at my local hardware store. Feeling crafty last weekend, came into the store looking to buy some wood and nails to build a bookcase, and what should’ve been a $50 project turned into a $250 project.
This scenario probably plays out quite often, so let’s break down the strategies that will transform your small sales into big deals at your company.
So as I was walking through the hardware store, an associate named Harry approached me and asked if I needed any help.
“Yes, I’m looking for nails and wood to build a bookcase. ” Now Harry could’ve very well sent me down to aisle 9 for the nails and aisle 12 for the raw wood, instead, he asked me more questions:
How big is your bookcase? Where will it be stored? This information prepared him to advise me on how much I needed to buy and the type of wood that’d be best suited for my bookcase. He also showed me other products that I would need to finish my project: wood glue, sandpaper, stain, and brackets.
Dig a little deeper to uncover your customer’s whole picture and what they’re really trying to achieve. By understanding what they’re trying to solve you can help them transform their visions into reality, beyond the singular transactional items they originally came to buy.
Oftentimes we treat value and price as the same thing, but they’re not. Value goes beyond price: it includes the experience, expertise, and support that comes with the purchase. Harry helped create value for me by advising on the products he recommended — sharing which woods would be most suitable to my project, detailing how to properly stain and treat my bookcase, and helping to choose the right sandpaper grit for the job.
The personal value a salesperson creates for a potential customer is twice as impactful as the value the company itself creates via product and service enhancements, according to research from CEB and Google. The great news is that you can provide plenty of value for your customers from your own knowledge of the industry and lessons learned from helping a range of customers that have dealt with similar issues.
The best way to grow your business, including those sales, simply comes down to setting your customers up for success.
As I was checking out, Harry mentioned the store holds monthly demonstrations on various home improvement projects and invited me to join next month’s demo on building your own flower beds. With so many compliments on my now-completed bookcase, I already know what my next project is, and who to turn to for help!
Whether it’s including an instructional guide on how to use the product, creating an onboarding experience, or hosting demonstrations or webinars, providing help and support (that’s value!) beyond the sale will lead to repeat business.
Establishing customer success and driving towards the results that the customer is looking for is what ultimately establishes trust. And being a trustworthy partner means bigger deals in the future.