So many times, business is all about common sense. But during an economic downturn it never hurts to revisit some key pointers. That’s just what Capitol Sales has done by issuing a list of helpful hints for dealers in the custom installation industry.
Here they are:
Manage Financials With Your Customers
- Make sure your customers sign a contract before you order product or start work.
- Invoice before you start and secure 30 percent payment up-front.
- Collect a second down payment of 30 percent partway through the job.
- Collect a third payment of 30 percent when you're almost done with the job.
- Collect the final 10 percent payment at the job walk through.
Sell More to Each Client
- Propose more product categories when you visit a client. This is a great technique for increasing sales. For example, home theater furniture and seating is an easy category to add to a home theater system.
- Introduce your clients to new manufacturers and their product offerings. Brand names available only to custom installation professionals will set you apart from the major retailers.
- Expand your commercial business. If you are in commercial audio and video sales today, look for ways to further expand your product lines for this market with new and unique offerings-make sure to sell the benefits to your customer.
Motivate Your Teams
- Offer incentives. Hold a contest that rewards your sales team for additional revenue that they generate on a project-it will ensure they come up with new ways to sell more to each client.
- Recognize your sales team regularly. By building a recognition program with a monthly focus, you can create a culture where higher-levels of performance are not only expected, but rewarded. Nothing motivates a sales person like a competition to win.
- Involve your team. Host regular brainstorming sessions to gather the best and most creative ideas to generate more business. Follow through on the recommendations to make the most of new ideas and increase sales.