Here Are Five Sales Mistakes That Can Cost You Six Figures or More

September 8, 2022 Mario Stewart

Generating leads is really only half the battle when it comes to running a successful event planning business. Sales is a skill that is learned over time, and it takes hard work and dedication. Nowadays, there are several resources, including online courses, to help you master the art of the sale. You need to create the right mindset and learn the techniques to effectively convert all those event planning leads into event planning clients.

Improving your sales game will translate to closing more deals and gaining more profits. When it comes to sales technique, there are a host of mistakes, some you don't even know you're making, that can cost you six figures or more. Let’s dive into some sales mistakes that you should avoid at all costs. 

1. Not Providing a High-Value Offer

Offering your products and/or services at a reasonable price is obviously the goal when it comes to landing sales. You want to remain competitive with rivals in your industry, but you'll also want to provide a robust value proposition, so your potential customers spend their money with you. With that said, a high-value offer is something different that you should always have ready to be delivered. A high-value offer will give you and your business validation while simultaneously providing a higher-than-normal value to your customer. It should be something that will significantly change the life of your customer, and you have to make that extremely clear. When you close a sale, be prepared to pitch your high-value offer as an upsell. Once you gain a client, you should always bring them up your value ladder with more high-value offers. Not upselling means you're leaving money on the table.

2. Not Tracking Analytics

If a business isn’t always trying to improve, they are going to fall behind. There are several technology platforms out there that can easily track your lead generation, sales, and growth as a company. First and foremost, you need to master Google Sheets or Microsoft Excel. This is a great way for your sales team to input their data on a regular basis. There is a lot of data that you should be tracking, including cold calls, presentations, follow-up activity, time on the phone, and more. Your sales team should be reporting their activity to accurately make sales funnel predictions. At the same time, tracking your analytics will help identify sales team challenges, client roadblocks, and emerging markets to target. 

3. Not Generating Enough Leads

When it comes to generating leads, it is always better to have too many than too few. Sales is strictly a numbers game. You need to generate as many quality leads as possible to give you better conversion rates. Luckily, there are several great platforms out there to help you generate more leads, including Seamless AI and LinkedIn Sales Navigator. These platforms help you search countless companies and employees across the country and gain their contact information. You can generate literally thousands of leads per day with these platforms. Once you do, you can download a spreadsheet to organize all of their contact information. From there, it is up to you and your sales team to work down the list and convert the leads.  

4. Not Doing Your Research

Before you go into a sales call or event planning client meeting, you have to make sure that you are overly prepared. You need to do extensive research about the individual and/or their company. Luckily, there are several ways to do that in this day of age. Social media platforms, including Facebook or LinkedIn, can give you a clear image of who they are and what they're looking for in a partner. You can also quickly identify who would benefit from your products and/or services based on posts and profiles. Going into a sales meeting not knowing anything about their company is a huge mistake. Of course, it's great to ask questions during the meeting, but you should be very prepared and knowledgeable about who they are, as well as their mission as a company. 

5. Not Following Up 

In the world of sales, persistence is key. Even if you don’t make the sale, you need to at least get their contact information so you can continue to follow up with them. You don’t want to berate them, but it is totally appropriate to check in on them regularly to make yourself available. At the same time, this can give you a chance to share deals and/or new products that you may have. If you make a sale, it is also very important to continue to follow up with your clients. You need to nurture your customers and always make sure that you are checking in on their satisfaction. Another good reason to follow up is that you should always be ready to make more sales. Making a second sale is always easier than making the first. Nurture your clients and always inform them about updates with your products and/or services. 

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