Are you trashing great opportunities just because they say they are going with the competitor? Sometimes these can be the easiest leads to convert. A frustrated customer or one who’s expectations have been dashed are often looking for a quick, painless opportunity–that could be your next sale.

You spent the whole morning attacking the freshest leads in your sales pipeline, and what did you hear? Probably:

• “That sounds great, I am waiting on the other offers…”
• “The Mortgage Emporium has a better rate”
• “Bob’s Mortgage Shack said I could close in 10 days”

Fresh leads are just entering the sales/buying cycle and are inherently the toughest ones to convert. These customers know the market is still competitive and the best customers know they should look for the best deal.All of your competitors are telling them whatever it takes to get the deal into their commission trigger. These factors significantly impact the probability of converting a brand new lead, particularly if you do not have the brand of a Countrywide, Wells Fargo, or Quicken Loans.

So, how can you use this to your advantage? I am going to tell you a little secret…

The easiest customer to close is one that has been disappointed by your competitor. It is like “sticking it to the man,” the customer gets satisfaction and you get a sale.

Here’s the trick: The next time you hear, “I am going to go with Tina’s Mortgage Funding” I want you to put them in your calendar once a week for the next 45 days. I want you to check in on them and ask how their mortgage process is going and if they have any questions, like it was your own customer.

You don’t even have to ask for the sale. You will be amazed how many of these deals you will win. They will come to you because:

• If you are this attentive and responsive, what would it be like to be your customer
• The competitor will most probably frustrate the customer when they get into processing
• If you don’t get them this time they will call you next time because of your commitment

So, don’t ignore the customers you loose to the competitor they may be your highest converting lead.

Motivation. It’s a simple word and a simple concept but it’s tricky to implement. Ask any sales manager what motivation is and there is a high likelihood that they would come up with a textbook definition. However, they will all agree that it is one of the most important things a manager must learn to do, especially when dealing with their team. Here are 7 practical ways you can motivate your team and build a strong, cohesive group:

1. Communicate with your team

To motivate your team, you must be able to open up communication lines and ensure that there is a smooth exchange of ideas and information. You also need to appreciate what motivates John may not have the same effect on Mary.
If you want to motivate your team, keep them updated and let them know what they can expect. Use e-mails, meetings, phone calls and memos to keep them posted about recent changes in the company, new directions the department may be taking, new products and other updates.

2. Know what your team considers as important

Don’t always assume that you know what your team wants. Try to come up with a list of priorities or have your team rank a checklist of the most important things in their job. You’ll be surprised to learn that traditional means of motivation such as salary increases and promotions are often not the best answers to what your team needs.

Once you learn what they want, you can design your motivation plans according to what your team values. For example, there is no point putting too much budget on new IT equipment if what your team really wants is more training. Find out what they want and you’ll know what you can use to motivate them.

3. Get them into the action.

Motivation is not a one-way street nor is it a one-man or woman show. Let your team join in and contribute to a project or a plan. They will feel more valued as employees that way. Not only that, you will alienate your team if you focus too much on what they should do. Setting the rules of motivation yourself may seem like the way to go, but motivating your team means working in tandem with them.

4. Set goals that will challenge your team

Your team is composed of people with different skills, talents and levels of experience. Don’t underestimate your sales team. Expect the best and guess what might happen? Give them a reason to nurture ambition and strive harder to achieve what your company expects from them. As long as goals are realistically viable, you will find that your team will be more motivated to work and perform.

5. Provide your team with the necessary tools they’ll need to succeed in their job

You can’t expect your team to perform optimally if they don’t have the tools to do so. To motivate your team, provide the equipment, materials, training and support they need. If you give them a project involving sales, for example, you can’t very well motivate them to perform if they have poor, marketing materials, management support and access to records of previous sales performances. Give them the tools they need to realistically perform their job and then allow their creativity to take over.

6. Manage the less-than-stellar performers

The bad apple in your team can ruin the groups performance as a whole. This could be the team slacker, heckler, the abrasive one, the individualistic member or just the teams shyest member. Whoever he or she is, can ruin a great group performance in a snap.
Your team looks up to you to manage and motivate this person and make sure he turns around. Don’t try to ignore the situation or wait for it to resolve on its own. You’ll be able to show your team you’re in charge and motivate them successfully in the process.

7. Give credit to whom it is due

Never make the mistake of not giving your team the attention and recognition they deserve. Always applaud and praise for exemplary performance and make sure to mention those who performed the best. By showing how excellent performance at work is acknowledged (and rewarded, if it comes to that), you will be able to motivate the rest of your team into stepping up to the plate and making their own contributions.