Tips

Every sales person, regardless of the industry, product, or skill level makes mistakes. The following list focuses on the basic principles of sales. Follow these guidelines to achieve greater levels of success.

TOP 10 SALES MISTAKES

Not listening. Don’t just listen to what the customer is asking for; look past that to find out what they need. You cannot sell to someone if you do not know what he or she wants. Listen - identify the need and fill it.
Overselling. A nonstop sales pitch leaves your potential customer with no room to make an intelligent decision. There is a fine line between being a good salesperson and being pushy or obnoxious. Know when to stop selling.
Being unprepared. No matter what or where you’re selling, you need to know the details about the product or service so you can answer all pertinent questions. Be prepared. If you are prospecting for new business, know what you are going to say and anticipate the questions you may be asked.
Jumping straight to the sale. In any type of sales business, you need to establish a relationship. People only buy from those they trust. Do not rush to the sale. Take the time to educate your prospect and they will reward you with sales. Take the time to understand the prospect's likes, dislikes, interests, and manner of doing business.
Judging books by their covers. Salespeople routinely miss sales because they prejudge their customers. Do not let demographics or general appearance stand in the way of making a sale. Spend some time listening and you may find that there is great potential in spite of appearances.
Failure to follow-up on leads. Just because someone does not buy immediately does not mean they will not be interested later -- particularly if they requested information. Follow-up is a critical aspect of sales that is often neglected. Some people say that it takes a minimum of three calls to really “make a sale.”
Failing to prospect for new customers. Even when sales are at their peak, you need to devote time to looking for new customers. No company can survive without a constant influx of customers, so no business can afford not to prospect for them.
Failure to close the sale. This is the flipside of the last mistake. Once you have provided your customer with the information he or she needs, ask for the sale. It may seem unnecessary, but sometimes asking for the sale can be the nudge your customer needs to make a final decision.
Going off topic. Sales people generally like to talk, and some overdo the "relationship" with excessive chatter. Others continue to talk about the product or service, but spend an inordinate amount of time on irrelevant information. While you do want to build a relationship and make your customer comfortable, the goal is to make the sale.
Failure to research the customer. If you are trying to sell to a specific client at a meeting, you need to know what he or she is all about. Do some research before you make the call so as to anticipate the clients needs and avoid blundering into an area of discomfort.

News.

Consumers back in shopping mode

NEW YORK (CNNMoney.com) -- A surprising rebound in February sales gave retailers a much-needed respite after a very difficult winter sales season that had pointed convincingly to a pullback in consumer spending.

"It's very interesting that consumers are actually showing some signs of life," said Ken Perkins, president of sales tracking firm Retail Metrics. "It's very interesting that consumers are actually showing some signs of life," said Ken Perkins, president of sales tracking firm Retail Metrics.

Perkins said part of last month's sales strength, which came on the heels of broad-based softness in December and January, was in part because of "pent up demand."

"The sales numbers were just so weak in December and January that you almost had to expect consumers would come back at some point," he said. Early refund checks from 2007 income tax returns were probably also contributing to consumer's wallets, he said. What's more, Perkins said a strong spring fashion cycle helped lift clothing sales and would continue to do so in the weeks ahead.

"All this has to be very encouraging to retailers. Even Wal-Mart said its discretionary items were selling well," Perkins said. "This is certainly a step in the right direction for the economy."

That's because consumer spending fuels two-thirds of the nation's economy. "The key is that tone matters," said Michael Niemira, chief retail economist with the International Council of Shopping Centers (ICSC).

"To the extent that the tone of the sales numbers is a little bit better and Wal-Mart beat its forecast, it gives you a better feeling especially since one big problem the economy has been facing is a crisis of confidence," Niemira said.

Downscaling helps Wal-Mart

Wal-Mart Stores, the world's largest retailer, reported February sales that were better than expected due to strength in clothing, grocery and entertainment purchases.

The world's largest retailer said sales at its stores open at least a year, a key measure of retail store performance known as same-store sales, increased 2.6% last month. Wal-Mart (WMT, Fortune 500) had expected sales last month to be flat to up 2%.

However, the retailer said the sales gains were tempered by sales softness in home-related merchandise, which it partly blamed on the "pullback in the housing market and the economy."

For March, Wal-Mart expects same-store sales to be flat to up 2%. Wal-Mart's rival Target (TGT, Fortune 500) logged a 0.5% sales increase, beating analysts' forecasts for a 0.2% decrease for the month.

"Wal-Mart and Target's results show that consumers are downscaling," said Perkins. "There's still underlying demand among consumers but they are definitely looking for bargains."

Based on other early same-store sales results from a handful of retail chains, merchants appeared to rebound from a particularly difficult January. Sales tracker Thomson Financial, which compares monthly results at 43 of the nation's largest retail chains based on analysts' estimates, said more retailers were beating forecasts than missing them.

According to the firm, about 60% of the 37 chains that had reported their same-store sales results topped forecasts, while 40% missed estimates.

Thomson Financial said total sales last month increased 2.2%, a full 1% above its initial forecast for a 1.2% gain.

The biggest surprises came from teen clothing chains Pacific Sunwear, which posted a 6% sales gain last month and Aeropostale which reported a 7% sales gain. Sales at trendy clothing and accessories seller Buckle (BKE) jumped 24.3% and luxury department store chain Saks (SKS) posted a 3.4% sales gain.

Still, there were some noteworthy misses. J.C. Penney (JCP, Fortune 500) posted a 6.7% same-store sales drop and warned that March comparable sales were expected to decline in the "low-single digit."

High-end department store chain Nordstrom said its sales fell 5.6% and women's clothing chain Chico's FAS suffered a 14.9% sales decline and Limited Brands, owner of Victoria's Secret and Bath & Body Works, said its same-store sales fell 6% in February.

Perkins, who tracks sales at 39 retail chains had expected overall sales to increase 1.2% for the month. However, based on the number of surprises to the upside, he said overall sales could actually come in at 2%.

"Keep in mind that February is still the least significant sales month in the first quarter for retailers," he said. "March and April are more important because of the Easter holiday." That said, he cautions that retailers should brace for a tough March and April because Easter is coming about as early as it can, on March 23.

Perkins agreed. "Weather could hurt Easter apparel sales if colder temperatures persist this month," he said.