When selling a product, the benefits are clear and easy to understand.
When you see an ad for a coffee maker, the ad will likely list the benefits of owning the coffee maker, such as how it can make your morning routine easier.
It’s a product with clear benefits, and the selling is easy. Customers can see what they’re getting, and they know what they’re paying for.
With services, it’s not always so simple.
You can’t really “see” a service. If you are in the market for carpet cleaning, you can’t foresee the end result of your spotless carpet; and each provider you look into will tell you they are the best company for the job.
So how do you know who to trust?
This is the question that anyone selling services has to ponder when trying to gain customers. It becomes a selling game of trust and understanding the needs of your customer.
Let’s learn more about selling services and how to go about selling them profitably so you can better build that relationship of trust with your potential customers.
Why Sell Services?
There are many reasons why you should sell services, but here are some of the most important ones:
1. Selling services is a great way to make money. In 2021 alone, global services revenue is estimated to reach $4.5 trillion, so there’s a lot of potential for growth.
2. It’s a very versatile business model. Selling services can be adapted to fit almost any industry or market.
3. It’s a low-risk business model. You don’t have to invest as much money in equipment or inventory.
4. It’s a scalable business model. You can grow your business at a pace that suits you.
5. It’s a great way to build long-term customer relationships. Selling services are often needed with the same clients on regular basis. This builds loyalty and trust.
Whether you are selling services to businesses or consumers, there are plenty of reasons why you should work in the services industry.
What Does Selling a Service Mean?
Selling services means finding ways to market and sell the services you offer.
These services can be sold to businesses or consumers and can consist of anything from professional services such as consulting or legal work, to more laborious services like housekeeping or yard work.
When selling your service, you need to identify your target market, create a sales strategy and price your services appropriately.
You can also sell online or offline, but selling services online has become increasingly popular in recent years.
No matter how you choose to sell your services, remember that selling services is all about creating value for your customer and building a relationship of trust.
At Wizard of Sales, we can show you how to offer services to your target market without a hitch.
Contact us to start your services business revolution today!
Is it Harder to Sell Services Than Products?
Selling services can be just as hard, if not harder, than selling products. The main reason selling services is so difficult is because it’s often harder to articulate the value of a service.
When you’re selling a product, the customer can see and touch the product and immediately understand what it does and how it can be helpful to them.
With a service, however, the customer often has to trust that the service will actually be helpful to them without being able to see or touch it beforehand.
This means that when selling services, you have to be extra careful in articulating the value of your service and making sure that the customer understands how it can help them. You also need to build trust with the customer so that they feel confident in your ability to deliver on the service.
With the right approach, you can convince customers that the value of your service is worth the price.
6 Steps To Market and Sell Services More Profitably
So, how do you go about selling your services more profitably? Here are six steps to get you started.
Recognize Yourself as a Service Provider
When you recognize yourself as a service provider, you can start selling your services more profitably. You need to view yourself as a business owner, and not just an employee.
As a business owner, you can market your services in a way that will make them more appealing to potential clients.
You also need to be aware of what makes your services unique. What do you offer that no one else does? When you can answer this question, you can start selling your services based on their unique benefits.
Be sure to price your services correctly. Don’t undersell yourself, but also don’t overprice them. Find a price that is fair for both you and your client, and stick to it.
Know Your Competition
It’s important to know your competition when you sell your services. By understanding what other businesses in your industry are offering, you can better tailor your services to stand out and be more profitable.
Do your research and find out what competitors are charging for similar services. Compare your rates and see where you can make adjustments to be more competitive.
Also, look at the quality of services offered by your competitors. What can you do to make yours even better? By offering a higher quality service, you can charge a premium price and still be more affordable than your competitors.
Don’t forget to also look at the way your competitors market their services. What are they doing that’s working well? You can learn from their successes and avoid their mistakes.
Automate Sales Processes
Automating your sales processes is another effective way to sell your services more profitably.
With automation, you will be able to reach more potential customers and close more deals as well as spend less time on administrative tasks, which will free up more time for selling.
Some great ways to automate your sales processes include:
- Lead scoring: Assigning a numeric score to leads based on their engagement level and how likely they are to convert. This helps you prioritize follow-up so you can focus your selling efforts on the hottest prospects.
- Sales emails and follow-ups: Automating your email outreach and follow-up process can help you stay in touch with leads without having to manually send each message.
- Scheduling calls and meetings: Automating your scheduling process can help you book more calls and meetings without having to juggle multiple calendars.
- Lead list building: Automating your lead list building process can help you quickly gather leads from multiple sources and compile them into a single list.
- Lead enrichment: Automating your lead enrichment process can help you quickly gather and analyze data about potential leads, saving you time and effort.
Ultimately, if you’re looking to improve your bottom line, automating your sales process is a great place to start. Not only will it save you time and money, but it will also help you sell your services more profitably.
Train Your Sales Team and Retain Top Talent
Sales is a notoriously tough profession. The hours are long, the competition is fierce, and the pressure to succeed can be overwhelming.
But selling services doesn’t have to be so tough. By training your sales team and retaining top talent, you will see a significant increase in your profits.
Here are the necessary service selling steps every business owner should include in their sales training process:
- Sales Proposal: The sales proposal is the first step in selling services. It is important to remember that the proposal is not a contract. The proposal should include an executive summary, pricing and terms and conditions.
- Sales Follow-up: The sales follow-up is the key to selling services. It is important to keep in touch with prospects and close the deal, otherwise, the prospect may forget about the proposal or move on to another company.
- Sales Closing: The sales closing is the final step in selling services. It is important to be prepared for this step by having all of the necessary information, such as pricing, terms and conditions.
By following these simple steps, business owners can train their sales team to sell services more profitably.
In addition, it is important to retain top talent by providing incentives and fostering a positive work environment. Doing so will help ensure that the sales team can meet and exceed sales goals.
Eliminate Customer Bottleneck
If you’re offering services online, you know that having a professional website is key. But what many business owners don’t realize is that having a website that’s easy to use and navigate is just as important—if not more so—than having a pretty design.
In fact, one of the main reasons people leave a website is because they can’t find what they’re looking for quickly and easily. This is known as a customer bottleneck, and it can be very costly for your business.
Fortunately, there are several things you can do to eliminate this bottleneck and sell your services more profitably. One of the most important is to make sure your website is user-friendly.
This means using clear, concise language, organizing your content in a way that’s easy to understand, and using visuals to help explain your services.
It also helps to provide a way for people to purchase your services online. This can be done by adding an e-commerce platform to your website or by simply providing a link to a third-party site where people can buy your services.
If you take the time to eliminate customer bottlenecks on your website, you’ll be selling your services more profitably in no time!
Testing and Analysis
When selling services, it’s important to have a good understanding of what you’re selling and how to best market those services.
Testing and analysis can help you to better understand your target audience and how to reach them. It also helps you to determine what pricing strategies are most effective for selling your services.
Google Analytics and other tools can be used to track customer behavior and preferences. This data can help you to track your website traffic and understand how users interact with your site.
You can also use A/B testing to test different selling strategies and see which one is most effective for your services.
Overall, testing and analysis tools help you to better understand your services and show you how to sell them more profitably.
If you’re looking to up your sales game, or simply want to streamline your processes so selling is more efficient and profitable, Wizard of Sales can help.
Our team of experts have extensive experience in sales and know how to coach you and your team to success.
Contact us today so you can start selling your services at the highest level.