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Competition is fiercer than ever when it comes to sales, mainly due to the Internet and digital marketing mediums having widened the playing field. In the past, competition was once limited to the local level or regional level. Now, it is bigger, stronger, and you must contend with it at a global level. While this intense competitive environment may seem intimidating, there are smart strategies you can employ to achieve and retain a strong sales record.

1. Properly Qualify Prospects  

If you think that qualifying sales prospects is not essential, consider this: At least 50% of your prospects are not a good fit for your products or services. (1) As a result, 25% of the prospects you spend time working with will never buy! (2) The last thing you want to do is waste time and resources on leads that do not stand a chance of becoming customers.

Rest assured, properly qualifying prospects is an endeavor well worth the time and effort. The caveat is that you want to do so in a way that does not annoy your prospects and drive them away. Avoid asking prospects numerous questions during phone calls. They are not interested in answering them on the phone. It is simply too time-consuming to fit into their busy lives. You do not want a disengaged prospect on your hands.

Instead, qualify behind the scenes as much as possible. You can do this in several ways:

  • Industry benchmarks and trends are illuminating. Look for reports or surveys that reveal how much revenue companies allocate in certain markets or industries for expenses such as infrastructure, marketing, technology, and professional services.
  • Annual reports released by publicly traded companies are also a valuable resource for obtaining data on benchmark budgets. Additionally, these annual reports can provide insight into the problems and challenges, as well as opportunities that you can utilize to your advantage.
  • Use tools such as Google Alerts and Mention to monitor current developments in a company you are targeting. Has there been a merger or acquisition? Is it a new product in development? Have they shared a press release recently? Have they gone through a change in management?
  • Investigate social media for contacts within the organization. How are people connected? What might the organizational chart look like? What interests might people have? Who may be part of the decision-making team? What information would be most compelling to him/her? What does the buying process look like in the organization?

2. Master Appointment Scheduling and Prospecting 

Getting a firm grip on appointment scheduling and prospecting is the number one challenge for salespeople. 37% of salespeople consider prospecting their biggest struggle. (3) This is a serious problem when you think about how critical prospecting is to the entire sales process.

Fortunately, there are solutions you can implement to ensure prospecting will be fruitful:

  • Gain a deep understanding of the customer – their pain points, the issues they face, and opportunities that make or cost them money
  • Thoroughly research each prospect prior to your meeting so that you have a firm grasp on their industry, business,s and unique situation. Not only will doing so inform your efforts, but it will also make you more trustworthy.
  • Gain a clear understanding of the colleagues and their respective titles who may be involved in helping your prospect make their decision. Prepare industry-specific material with all parties in mind.
  • Identify the pain points that your products or services can address for the prospect. 70% of decision-makers buy to solve a problem. (4) Start with these pain points to make a clear connection between their problems and why your company can solve them. (PRO TIP: Use case studies to show how much you saved or generated money for another company with a similar problem in the same industry!)
  • Calculate how much money it could cost the prospect if they fail to resolve the pain points and how much money they stand to gain if they address them. In other words, what is the cost of keeping the current status quo?
  • Nail down the best time to call. They will appreciate your thoughtful approach to navigating their schedule.
  • Extend an irresistible offer. Even if the offer is available for a limited time only, getting them in the door is a considerable advantage.

3. Sell the Value Your Business Offers 

A whopping 55% of salespeople said that budget is the leading reason sales deals fall through. (5) Think about it. You do not want to spend your hard-earned money unless you deem the expense worthwhile. It is no different for your prospects. In fact, they may be under even more pressure to stay within budget.

The best way to prevent deals from failing due to budget is to position the value your products or services offer properly. Make your reasoning so compelling that it opens your prospect’s mind to potentially exceeding the allotted budget. How do you do this? By showing them that the benefits they will gain from your products or services will ultimately result in a significant amount of money in the long run.

Learning from deals that fall through for budgetary reasons can give you a significant advantage in the long run. Sometimes it can even turn losses into wins by getting a crystal-clear understanding of the prospect’s needs and how you might be able to work within the confines of their budget.

4. Ask for Referrals 

There is a telltale reason why 47% of top sales representatives ask for referrals. (6) It is one of the most effective ways to gain new customers because it eliminates the cold-calling aspect. Obtaining a referral from a trusted source automatically advances your company to the next step, significantly improving your chances of closing the deal.

There is a caveat. You must still qualify referrals to ensure they have a good chance of making a purchase. This is critical not only for the sake of your own time but also for the sake of your relationship with current customers.

Employ these tactics to ask for introductions and referrals successfully:

  • Stress that you would really like your contact’s help. People enjoy helping others.
  • Ask for the referral after the customer has benefited from your products or services. Receiving a compliment from them is a great indicator.
  • Give them a brief description of your ideal referral. This makes it easy for your contact to identify referrals.
  • Ask your customer to make the initial introduction to the referral, or ask for permission to use their name when making the introduction yourself.
  • Research your customer’s connections on LinkedIn. This is another way to make it convenient for them to give you a referral.
  • Thank your contact for the referral with a thoughtful and memorable gesture, such as a gift card or thank you card. Ask them how you can reciprocate. Remember, customers who give you referrals are one of your best assets.

While the sales landscape has become more challenging to navigate successfully, employing the four strategies outlined above will significantly enhance your ability to close more sales. It boils down to adopting a more sophisticated and high-quality approach to achieving your sales goals.

For more information about how Gavel International can assist your organization through outsourced meeting planning, event, and travel incentive programs, please contact us.

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SOURCES:

1 https://www.marcwayshak.com/sales-statistics/

2 https://www.business.com/articles/youve-got-leads-why-arent-they-buying

3 https://cdn2.hubspot.net/hubfs/3476323/State%20of%20Inbound%202018%20Global%20Results.pdf

4 https://www.impactcommunicationsinc.com/pdf/nwsltr_2001/ICINwsltrpr0108.pdf

5 https://www.marcwayshak.com/sales-statistics/

6 https://www.yesware.com/blog/top-sales-statistics-and-takeaways-2020/

This article was last updated on July 14, 2025

Jim Bozzelli
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