094: 5 Signs Your Interior Design Sales Process is Working
What is a sales process? A sales process is the method by which we share our offerings and others in need purchase from us. The sales process is not completed until all obligations of the sale are met by both the buyer and the seller. Maybe you have heard this; you are always selling. And that is true. We are either selling in the moment or selling for the future. But every choice and decision matters along the way.
In the book, Fix This Next, Mike Michalowicz shares the business hierarchy of needs. As a Fix This Next Advisor, I am going to break it down over the next few podcasts and see what this really means for our interior design businesses.
As with any structure, a business is only as good as its foundation. And the foundation for a company is sales. As mentioned in the intro, sales provide life for a company. We cannot even focus on full-on profitability until we have someone purchasing from us. Cash flows in and out and comes along with the sale. As we analyze our companies using these tools, we cannot just trust our instinct or intuition. Because we can’t always see clearly that way. We need to look at empirical data. That is vital.
Let’s jump in and determine if our interior design sales process is working for us. Here are 5 signs that it is.
1. You have clarity on your personal income needs to support your lifestyle, and the business has enough in sales to meet that need.
To begin, we need to be able to ask the question: “How much do I need to bring home?” This question stumps many designers I speak with. Believe it or not, there are two answers I often get. Either, “I don’t know,” or “$100,000.” Rarely do I get another answer. It is almost as if the pendulum swings from I’ll take what I can get to a canned answer of 100k because that is what we are ingrained to think is a healthy salary.
However, the truth is deeper than that. Knowing exactly how much money needs to come into our home as spendable cash and knowing how much needs to be allocated for savings, retirement, and taxes will give you a very clear definition of what you are working for in your business. Without knowing these numbers, we cannot be as intentional as we need to be in our sales. If you know that to meet all your financial goals, you need to sell on average $5k a week; then, you have a target to reach. You can then ensure your ideal client and ideal offering are in alignment with the larger goals. But to walk into each week with I will take what comes may leave you lacking in income and profit to meet the needs of your family.
I have two downloadable documents on my freebies page on my website, www.scarletthreadconsulting.com, called Financial Health Checkup and Financial Planning Made Simple, which will lead you down the path of making these determinations for yourself.
2. You consistently know and attract your ideal client.
I look at marketing as fishing. We are casting out a line or our nets and trying to capture those that are hungry for the solutions we are offering. Here is the deal though, if we use the wrong bait or fish in the wrong pond, we just might catch the wrong fish.
If my company provides high-end design services, then I need to have a brand that reflects that. Messaging that brings in those high-end clients as I have defined them for my area. Clients that want what I have to offer. If I am unclear on who I am or what I am offering, then no one else will know if I am best for them. And the same goes for you.
Look at the calls and reach out that you are getting. What percentage of them are your ideal clients asking for the product or service you want to be known for? If these are out of alignment, then something needs to change.
And consider this. Your ideal client, product, or service will most likely change and morph over time, so all messaging, branding, and marketing collateral needs to adjust to reflect this as well.
“When you speak to everyone, you speak to no one.” ~Meredith Hill
3. Your ideal client consistently buys from you.
It is not enough to have your ideal clients reaching out to talk with you – but they need to purchase from you. Sales is not talking and making friends; it is completing a transaction that has a benefit for both parties – and for our discussion, cash is exchanged for beautiful design. Don’t forget this important fact. We need money from sales to keep the business going.
Knowing the number of prospects that you need to close is imperative. Sales is a numbers game, that is for sure. If you have found that you historically close 75% of all your deals that gives you a metric to determine how much to market, when you have reached saturation and if your message is landing. If you have a goal to increase or decrease that percentage, you can strategize on how to do that.
Relationships are also built in this area. We want our clients to buy from us repeatedly. Because that is less expensive than marketing to find a new prospect and going through the sales dance to get them to know, like, and trust us.
“Great salespeople are relationship builders who provide value and help their customers win.” ~Jeffrey Gitomer
If your ideal client is calling you, talking to you, but not pulling the trigger on the sale. Find out why. It could be messaging, branding, or expectations. Work to remove the barriers so that your client conversion percentage is high. Note, we don’t want 100% conversion. That is usually an indicator that your pricing it too low – and I can bet your calendar will be full.
4. Your company delivers on all commitments and meets or exceeds expectations.
This goal can only be accomplished with clarity. Clearly defining the deliverables, communication, and expectations will be paramount to succeeding. One of the biggest challenges I hear is this, “I thought….(fill in the blank), and they though…. (fill in the blank).” And the blanks are not filled in the same way. Here is a more defined example. I thought the project was done when all the furniture was delivered and styled. The client thought we were not done until the bookcases were completely redone – even though that was not spelled out in our letter of agreement.
Being super clear and going over the details more than once helps you deliver on what you are committed to do. If there is an exclusion in the design, make sure you point it out. Don’t leave it up for interpretation. Because we will always interpret a shady area in our own favor.
Do you have very clearly defined deliverables, communication strategies, expectations for every part of your process when working with a client? If not, now is the time to focus on that.
“Commitment is the foundation of great accomplishments.” ~Heidi Reeder
5. Your client delivers on all their commitments.
Yep, your client has commitments to you, and for a sales process to be completed, they must follow through. What types of commitments do your clients have?
They need to be committed to working within your process, which you have clearly defined. They need to be committed to paying on time and on the schedule, as you have defined. They need to be able to make decisions in a timely manner, which allows the process to continue at its best. They need to approve anything needed when needed.
In other words, your clients are active participants in the sales process. Keep them involved and accountable to the process, just like your company is, to ensure success for all parties.
“In the end, the customer has choices. They honor us with their business” ~Shep Hyken
These 5 signs that your sales process is working in your interior design business need to be considered and addressed. The company you are building needs a firm foundation – and this is the start. Don’t skip these steps with the hope you can figure it out later. The more confusion and lack of clarity you have now, the bigger it will become as the company grows.
As a business coach and strategist, I work with interior design firms with high 6 and 7 figure revenues. And these are the same 5 signs we look for at every level of scaling the business. Because what worked when we started, rarely works without tweaking as we grow. To up-level your business and often, even to maintain it, these five areas need to be top of mind.
Let me assist you in determining what to fix next in your business because we all have something to fix. You can take the assessment below to find out where you need to individually focus in your business. Remember, use empirical data when answering, not gut feelings.
Reach out for a discovery call and let’s work together to make intentional choices using my AIM with Intent Methodology so that you can have clarity, confidence, and control in your business. Because profit doesn’t happen by accident.