Tesla CEO Elon Musk has achieved big things in business. If you examine his career, you can discover all sorts of ways to improve sales performance. Here are just a few of Musk’s secrets.
With his estimated $21 billion net worth, it’s fair to say that Elon Musk has achieved success. Formerly one of the most important minds behind PayPal, Musk now heads Tesla and SpaceX.
How has Musk achieved such huge success throughout his career? The key is that he’s a talented salesperson at heart. As a result, his companies look to improve sales techniques regularly.
You can see this in many of the interactions that Musk has with others. This article will examine some of Musk’s best advice and help you come up with some ideas to increase sales in the process.
Take Action with Customer Complaints
It all started on Twitter. Musk often finds himself interacting with people on the social media platform towards the end of his day. One such interaction was eye-catching because of the immediacy of Musk’s action.
A Twitter user sent Musk a message, telling him about an unpleasant experience in a Tesla dealership. She made particular note of the pushiness of the salesperson.
Musk took immediate action. Within an hour, he had responded to the Tweet with a simple message:
“Def not ok. Just sent a reminder to Tesla stores that we just want people to look forward to their next visit. That’s what really matters.”
With this message, Musk highlights two ways to improve sales performance. Firstly, the action he took on the customer’s behalf generates a positive buzz around the Tesla brand. That customer, and those who read the Twitter exchange, see a leader in action. This makes them more likely to explore Tesla’s products further, which will improve sales.
Furthermore, the exchange also shows how Musk tries to improve sales techniques at Tesla. He identifies a sales issue and takes immediate action. In doing so, he ensures his company’s representatives understand exactly what he expects from them, ultimately making them more effective salespeople.
Your Clients Can Sell For You
Did you know that Tesla does not pay for endorsements or product placement? Whenever you see a Tesla product on television, it’s because the people behind the show you’re watching wanted it there.
Instead, Musk prefers to focus on the power of word of mouth. In a recent letter to shareholders, Tesla’s management explains how this works.
“As more people see our car on the road, take a test drive or talk with another Model S owner, more demand is created for our product,” says the letter.
It goes on to speak about the effects of this sales strategy. “Importantly, we are seeing orders in a particular region increase proportionate to the number of deliveries,” the letter continues. “[This] means that customers are selling other customers on the car.”
So how can you use this to improve sales techniques at your company? It’s simple. Focus as much on your existing clients as trying to attract new customers. Some would even argue that your existing clients are more important. After all, they’re the people who have already bought your product. If they’re satisfied, they will come back for more.
Moreover, keep your existing customers happy to turn them into a sales force for your business. A happy customer will recommend your business to others. As a result, your sales go up, without you having to spend a cent on marketing.
Don’t Be Afraid of Failure
Many salespeople find themselves struggling to develop new sales techniques. Most worry about failure. If the technique doesn’t work, they’ve lost a client and have to go back to the drawing board.
Musk has one piece of advice for people who are afraid of failure.
“Failure is an option here. If things are not failing, you are not innovating enough,” he says.
This is a simple, yet powerful statement. Musk notes that the fear of failure is the enemy of innovation. You can even see how he has put this philosophy into action in his business ventures. Musk is almost always at the forefront of whatever industry he works in, and he will take risks to achieve success.
You can apply this to your own business, making it one of the key ways to improve sales performance in the process.
If your business stagnates, it loses customers. Other companies will move ahead of you, and they’ll take your customers with them. Innovate in all aspects of the business, from the products you create through to your ideas to increase sales. Not every idea will work, but that’s okay. Without innovation, you fall behind, and your company’s sales will suffer as a result.
It should come as no surprise that there are many things you can learn from one of the world’s most successful entrepreneurs. Elon Musk’s words of wisdom highlight the secrets behind the sales successes of his companies.
Think about how you can apply this advice to your own sales strategy. By following Musk’s guidance, you may find that you can overcome whatever issues prevent you from making sales.