Marc Wayshak always has great sales advice. This blog post gives some tips to grow the size of a deal. Especially as an individual sales rep, you can only handle so many prospects and activities. To sell more (and make more), you sometimes need to grow the size of your deals.
Here’s a simple formula:
Revenue/Time = Average Deal Size * Number of Deals * Deal Win Rate / Time to Close.
Increasing your deal size, number of deals, and/or win rate drives up your revenue. If you take longer to close, as can happen when pursuing larger deals, your revenue per period will go down. If you can find ideal prospects, you can drive all the metrics in the right direction.
One other tip to add onto Marc’s post– you can also increase your deal size (and your win rate), by offering multiple options to the buyer. They may surprise you by selecting a higher priced, higher value option.