The Laws Of Selling – 10 x To Succeed In Sales
Just like there are laws that govern everything around us; from nature and science, to business and the workplace – there are also laws of selling and in sales that must be carefully adhered to.
The laws of selling dictate fundamental rules that need to be followed, if a person wishes to be consistently successful in the world of sales.
Laws are rules to be adhered to, so that there are standards which create positive results for everyone.
From the laws of selling perspective, these rules will ensure that you win more sales on a consistent basis, your potential clients will be more involved in your sales conversations, and will be a lot more satisfied after buying from you.
In this article, you’ll learn the ten must follow laws of selling if you wish to succeed in sales.
Learn each one, and more importantly; implement them into your sales process.
The Laws Of Selling – 10 x To Succeed In Sales
The Laws Of Selling #1 – Do Your Research
The first on our list of important laws of selling, is to ensure you do market research before you start approaching your potential clients.
Which audience do you want to serve, and why? How can they benefit from your product or service, and why would they be interested in talking to you?
Don’t just write down business types either – but learn who within those businesses will be potential decision makers, as well as end users of your product or service.
Both strategy plans document who your audience is, where to find them, and what tools and other strategies you should use to get their attention.
Read the articles below to learn how.
Further reading: Sales Targeting Strategy – Your Complete Guide
Related article: Marketing Strategy 101 – What You Need To Know
The Laws Of Selling #2 – People Buy Emotionally
Another important rule to be followed in the laws of selling, is that people buy emotionally and justify their purchases with logic.
In sales psychology, it is taught that people make purchase decisions based primarily on emotional reasons; and most of the time even subconsciously.
Harvard Professor Gerald Zaltman reveals that when marketing your products or services as well as when having your sales conversations; ensure you keep the communication emotive.
If people purely bought things from a logical stand point; the economy would be in ruin. Our wants and needs drive the economy and spending and is important for international economics.
Why do people buy fancy clothes?
What makes a person spend three times more on an expensive car?
And why does a person need a large mansion; when a potentially smaller house could meet their day to day living needs?
The reasons are all emotional.
Once people decide emotionally what they want; they justify why they need it with logic.
What are the emotional benefits of owning or buying your product or service? The answer to this question is critical to your sales success.
#3 – People Buy Meaning
So far, we’ve established that in order to adhere to the laws of selling, you need to do your research, and you need to understand that people buy emotionally and justify their purchases with logic.
Many Sales Professionals break the laws of selling by pitching features and benefits; where instead they should be more focused on selling what it will mean when someone owns their product or service.
People buy meaning; they are purchasing the thoughts and desires of what it will mean when they own your product or service.
Hypothetically, if you’re selling real estate – people buy what it will mean when they own a home.
Will it mean more room to raise a family?
Perhaps it will mean they won’t live so far from work, meaning a shorter commute.
If they’re upgrading, it may mean something they can show off to friends and family and be proud of.
What does it mean when people own your product or service?
Related article: Why People Buy
#4 – Qualify Early
So many Sales Professionals and Business Owners transgress the laws of selling, by having sales conversations and presenting to people who don’t qualify for their offer.
A lot of time is wasted, and a lot of heartache is caused in the world of sales by speaking with people who can’t buy your product or service or aren’t in a position to make a buying decision.
It is crucial to qualify people early on, to ensure you’re maximising your time by speaking with people who would benefit, can purchase, and can authorise the buying decision.
We recommend using a system created by IBM, called BANT. It stands for:
- Time frame
You can learn more about using BANT by reading the article below.
Further reading: BANT In Sales – How Does It Work?
The Laws Of Selling #5 – Use A Sales Process
One of the most crucial; if not important most laws of selling – it to follow a consistent sales process.
A sales process is a step by step system or road map you can follow, to give you certainty about what you should do now, and what you should do next.
It guides you on what kinds of questions to ask; as well as what information you should be seeking or closing out before you go to the next stage.
Many Sales Professionals and Business Owners lose sales because they don’t have a consistent sales process; they either wing it, or they try something one day and something else another. This means they’re not consistent, which affects their closing rate.
Although there are various types of sales methodologies out there; we teach a system that encompasses the entire sales process.
The 5% Sales Blueprint – our online flagship program and online sales training program, teaches Sales Professionals and Business Owners how to close more sales consistently, using a step by step process.
To learn more about each of the steps, read the importance of implementing a sales process below.
Related article: The Sales Process – A Step By Step Guide
The Laws Of Selling #6 – People Buy From People They Like
Another one of our irrefutable laws of selling, is that people buy from people they like.
Furthermore; if people like you, they’re more likely to trust you.
The two main ingredients needed for a person to make a purchase from you, is trust and desire.
They must trust you, and they have to desire the outcome your product or service offers.
The quickest way to build trust is to be a master at creating rapport.
Rapport is the art of building commonality between people; that way, they feel you are just like them.
There are various steps you can take to build rapport. These include:
- Displaying a sense of comfort and relaxation
- Building commonality
- Matching and mirroring
- Asking the right guided questions
To learn how to execute each of these steps, read the article on rapport below.
Further reading: A Guide To Building Sales Relationships / Building Rapport
The Laws Of Selling #7 – Don’t Present Too Early
Many Sales Professionals and Business Owners suffer from a sales condition we call ‘Premature Presentation’. They pitch their idea much too early, breaking one of the crucial laws of selling.
As per our article in Entrepreneur; many Sales Professionals lose sales because they think their job is to meet with a potential client, pitch their product or service, and hope something sticks and resonates for the potential client to buy.
This backwards model hurts your sales efforts, because it’s based on making assumptions – that your sales presentation meets their exact needs, and they should buy from you to solve their problems.
Instead as per our sales process, we prescribe that Sales Professionals and Business Owners should ask well thought out and targeted questions first, listen intently, and then display how your product or service meets each of those needs.
This not only positions you as a Specialist; but also helps you win more sales.
Related article: Sell Me This Pen – How Should You Respond?
#8 – Spend Most Of Your Time Asking Questions
The most successful Sales Professionals are those who adhere to this law of selling; being that you need to become a master of asking excellent questions.
Amateur Salespeople make a lot of statements, where seasoned and successful Sales Professionals spend most of their time asking questions.
Questions create rapport, uncover pain points, find desire, and close sales.
Become a master of asking well thought out and targeted questions – it’ll help your bottom line.
Further reading: Sales Probing Questions – 20 x To Ask Daily
The Laws Of Selling #9 – Handle Objections
If you fail to handle sales objections; you won’t close any sales.
Handling sales objections is an important part of the sales process, and something you’re required to become familiar with if you wish to become successful in the world of sales.
As mentioned before; people buy emotionally, and for two reasons – they need to trust you, and they have to desire the end result of owning your product or service.
Similarly; objections come up for two reasons – they either lack trust, or they lack desire.
Although many people out there teach using exact sales scripts, we prefer Sales Professionals to use a structure instead.
By following a format, you can handle sales objections with ease without sounding like a broken radio or robot who just regurgitates old school scripts.
Read our article below to learn how.
Further reading: Overcoming Objections In Sales – A Step By Step Guide
The Laws Of Selling #10 – Invest In Your Personal Development
The difference between champion Sales Professionals and people who remain mediocre; is that the champions follow principles that allow them to consistently level up their lives.
They make time for their health and well-being.
They invest in their sales training and business.
Reading books is a part of their regular routine, and they make the most of their downtime.
If you needed to seek a Medical Specialist, would you trust a Doctor who hasn’t learnt any extra training for years?
Perhaps you needed someone to defend you in court – would you trust your life in the hands of a Lawyer who did one course many years ago, and spend no extra time in developing their craft?
Of course, you wouldn’t.
However, for some reason, many Salespeople operate this way. They don’t make the initial decision to level up their sales career by investing in their most important asset – themselves.
One of the important laws of selling is to invest in your personal development and up skill your sales skills. This way, you always stay ahead of the curve, and improve your results and closing rate. Not to mention, you can serve more people.
If you’re interested in taking this first step, learn the benefits of online sales training by reading the article below.
Further reading: 5 x Benefits Of Online Sales Training
To recap, the laws of selling are:
- Do your research
- People buy emotionally
- People buy meaning
- Qualify early
- Use a sales process
- People buy from people they like
- Don’t present too early
- Spend most of your time asking questions
- Handle objections
- Invest in your personal development
Following each of these laws of selling will help you enhance your sales, close more sales, and serve more people.
If you have any others you highly recommend, feel free to share them in the comments. Furthermore, share this with a colleague who would benefit from this guide.