Today's post comes from The Whetstone Group, and shares with you how giving your client an easy exit may help you get the sale.
Problem: Salespeople are so predictable! They use the “pull” approach, constantly trying to convince and persuade their prospects to buy from them. Of course, their prospects are on to these tactics and are doing their best to “push” the salesperson away. Often, even good prospects feel trapped and push the salesperson away because they don’t want to be sold.
Analysis: Clearly a better approach is needed. Why not try the push approach when selling, from time to time? Giving the prospect an easy exit, pushing them away, can have magical results when you have a good prospect.
Prescription: An “easy exit” is an opportunity for you to make the prospect feel comfortable by bringing up situations that may still be a source of concern and let the prospect deal with them. In effect, you’re providing them with an “easy exit.” You’ll find that one of two things will happen: they’ll convince you that your concern is unwarranted and that it’s really not an issue (proving to you that they really are a good prospect) or they’ll admit that your concern is valid. This gives you a chance to probe for more pain or to take it to “no,” thus arriving at the right conclusion for both parties without wasting everyone’s time. In either case, rapport is maintained, even strengthened, and you’re doing the disqualifying, not them. Here are a few Examples:
During your initial meeting say, “If we don’t have a fit, it’s okay to tell me.”
or
“We may take some time together today looking at your situation only to find that we’re not the right solution for you. If we’re not, you need to be comfortable telling me that. Okay?”
When the prospect begins to discuss his challenges say, “That problem doesn’t sound like it’s causing you that much trouble. Are you sure it’s really that important to fix?”
or
“It doesn’t appear that this issue is a major priority at the moment. Am I reading the situation correctly or have I missed something?”
During your budget discussion try, “I get the feeling that this is much more than you had planned to invest. Do we need to talk further about that?”
You need to keep your "antenna" up at all times to assess what the prospects are implying when they make a statement. Often a prospect will not tell you the whole truth regarding a problem, but will send out bits of (mis)information instead. It’s your job to relieve pressure and help uncover what the prospect is really saying (see the above examples). Your role is to gently minimize the prospect's assertions of pain and their commitment to do something to fix it, thus getting them to defend their position and prove to you that they are a good prospect with real pain and a real commitment to finding a solution. Any time you give them a chance to run away from doing business with you and they don’t take that chance, they’re sending a message that they want to do business.
Whetstone Group is a sales process improvement company that focuses on helping companies implement a proven sales process that will increase sales, shorten the selling cycle, increase closing rates, and improve margins. Learn more at www.whetstonegroup.com
Showing posts with label Whetstone Group. Show all posts
Showing posts with label Whetstone Group. Show all posts
Friday, August 12, 2011
Tuesday, July 19, 2011
Another Lousy Appointment
Today's article comes from The Whetstone Group - it's good, solid advice you can put into practice today!
Problem: It was a gloomy day and had just started to rain when Rick left his second lousy appointment of the day. “Man,” he thought to himself, “it’s pouring down rain, my car is at the other end of the parking lot, and this appointment that I drove 40 miles to see was a total waste of time. My grandmother is a better prospect than this guy.” He put his head down and dejectedly trudged through the rain towards his car. On his way back to the office he reflected on the appointments he had been on recently. The majority of them had been similar to these two, a waste of time for the most part…nobody seemed interested in buying. He was starting to feel like they were all bad prospects. The gloomy day mirrored his mood perfectly. But he needed to do something quickly since his sales were starting to suffer.
Diagnosis: There are no bad prospects; just ineffective salespeople. Unfortunately, salespeople seem to be willing to meet with virtually anybody who expresses so much a passing interest in what they are selling. Hope springs eternal, as they say, and salespeople hope that if they can just get face to face with someone, anyone, something good might happen. However, more often than not something not so good happens. Let’s face it, most salespeople really don’t want any bad news, so they don’t ask the hard questions. You know, the ones that might disqualify a prospect. Questions like the ones we’re suggesting below.
Prescription: If you want more productive appointments, change your attitude and plant your feet. Be adamant that you simply don’t have the time to meet with anyone who can’t pass a quick qualification test. Anyone who can’t answer affirmatively to the following three questions may not be worthy of your time:
“Is the problem compelling enough for you to take a good, hard look at a solution, assuming one were available?”
“Are adequate resources available to implement a solution, assuming you found one that you felt would work?”
“Who else should be at the meeting who needs to be part of the final decision process, besides yourself?”
If the answers to the first two questions are affirmative, you probably have a good prospect. If you get a wishy-washy answer, chances are your prospect is not very close to buying anything from you or anyone else. (Let your competitor go on this call.) The third question is designed to make sure you have the right people at the meeting. How much better would you feel if you had this information before you went out to the appointment?
Your time is simply too valuable to waste with people who aren’t serious or who don’t have the resources to buy. And you can’t afford to spend time with people who don’t have the authority to buy.
Whetstone Group is a sales process improvement company that focuses on helping companies implement a proven sales process that will increase sales, shorten the selling cycle, increase closing rates, and improve margins. Learn more at www.whetstonegroup.com
Problem: It was a gloomy day and had just started to rain when Rick left his second lousy appointment of the day. “Man,” he thought to himself, “it’s pouring down rain, my car is at the other end of the parking lot, and this appointment that I drove 40 miles to see was a total waste of time. My grandmother is a better prospect than this guy.” He put his head down and dejectedly trudged through the rain towards his car. On his way back to the office he reflected on the appointments he had been on recently. The majority of them had been similar to these two, a waste of time for the most part…nobody seemed interested in buying. He was starting to feel like they were all bad prospects. The gloomy day mirrored his mood perfectly. But he needed to do something quickly since his sales were starting to suffer.
Diagnosis: There are no bad prospects; just ineffective salespeople. Unfortunately, salespeople seem to be willing to meet with virtually anybody who expresses so much a passing interest in what they are selling. Hope springs eternal, as they say, and salespeople hope that if they can just get face to face with someone, anyone, something good might happen. However, more often than not something not so good happens. Let’s face it, most salespeople really don’t want any bad news, so they don’t ask the hard questions. You know, the ones that might disqualify a prospect. Questions like the ones we’re suggesting below.
Prescription: If you want more productive appointments, change your attitude and plant your feet. Be adamant that you simply don’t have the time to meet with anyone who can’t pass a quick qualification test. Anyone who can’t answer affirmatively to the following three questions may not be worthy of your time:
“Is the problem compelling enough for you to take a good, hard look at a solution, assuming one were available?”
“Are adequate resources available to implement a solution, assuming you found one that you felt would work?”
“Who else should be at the meeting who needs to be part of the final decision process, besides yourself?”
If the answers to the first two questions are affirmative, you probably have a good prospect. If you get a wishy-washy answer, chances are your prospect is not very close to buying anything from you or anyone else. (Let your competitor go on this call.) The third question is designed to make sure you have the right people at the meeting. How much better would you feel if you had this information before you went out to the appointment?
Your time is simply too valuable to waste with people who aren’t serious or who don’t have the resources to buy. And you can’t afford to spend time with people who don’t have the authority to buy.
Whetstone Group is a sales process improvement company that focuses on helping companies implement a proven sales process that will increase sales, shorten the selling cycle, increase closing rates, and improve margins. Learn more at www.whetstonegroup.com
Wednesday, May 18, 2011
Head Trash Sets Salespeople Up For Failure
Sometimes it's all in your head! Today's article from The Whetstone Group explains:
Problem: Being a good qualifier is the most important skill for a salesperson to possess in a relationship based sale. Yet despite hours of training, most salespeople are mediocre qualifiers at best. Digging down to uncover the real problems, openly discussing money issues and getting in front of the real decision makers are very challenging for most of us. As a result we experience long selling cycles, low closing rates and frequently feel the need to offer discounts or other concessions to motivate reluctant buyers. This can be a tough business! But it may not entirely be our fault.
Diagnosis: When it comes to selling, Mom and Dad may have been our worst enemies. Clearly their well-meaning advice is contradictory to the realities of selling. Look at some of the head trash they unwittingly saddled us with.
They said, "Don't talk to strangers," and now we have to initiate contact with strangers by making cold calls.
They said, "Don't bother important people," and we have to call high up in the organization to get to the decision makers.
They said, "Don't ask so many questions," but we need to ask questions to be a good qualifier.
And they said, "It's impolite to talk about money," but we need to initiate a discussion about money to find out what their budgets are.
No wonder it's tough. If you heard those admonitions frequently growing up, they're still in your head creating all sorts of conflict and hesitation when you're in front of a prospect.
But let's not blame this on Mom and Dad. They meant well. (And they weren't worried how this might impact our ability to sell because they didn't want us to go into sales in the first place.)
Prescription: Beliefs drive actions, actions cause results and results reinforce beliefs. The first step is to acknowledge the problem exists. Next make a list of the negative consequences the problem has for you. (For example, believing that you shouldn't bother important people will inhibit you from calling at the top, thus forcing you into a position where you are making presentations to people who can't say yes. This slows down the sales process, lowers your closing rate and reduces your sales.)
Commit yourself to overcoming the problem. Re-write the non-supportive belief. ("I must call at the top in order to be successful.") Tell it to yourself over and over until your subconscious now has a new belief. Your new belief will cause you to act differently. No longer will you consider it acceptable to present to non-decision makers and you'll find your sales cycle shortened and you’ll close a higher percentage of your proposals.
First things first. You have to change your beliefs if you want to change your results.
Whetstone Group is a sales process improvement company that focuses on helping companies implement a proven sales process that will increase sales, shorten the selling cycle, increase closing rates, and improve margins. Learn more at www.whetstonegroup.com
Problem: Being a good qualifier is the most important skill for a salesperson to possess in a relationship based sale. Yet despite hours of training, most salespeople are mediocre qualifiers at best. Digging down to uncover the real problems, openly discussing money issues and getting in front of the real decision makers are very challenging for most of us. As a result we experience long selling cycles, low closing rates and frequently feel the need to offer discounts or other concessions to motivate reluctant buyers. This can be a tough business! But it may not entirely be our fault.
Diagnosis: When it comes to selling, Mom and Dad may have been our worst enemies. Clearly their well-meaning advice is contradictory to the realities of selling. Look at some of the head trash they unwittingly saddled us with.
They said, "Don't talk to strangers," and now we have to initiate contact with strangers by making cold calls.
They said, "Don't bother important people," and we have to call high up in the organization to get to the decision makers.
They said, "Don't ask so many questions," but we need to ask questions to be a good qualifier.
And they said, "It's impolite to talk about money," but we need to initiate a discussion about money to find out what their budgets are.
No wonder it's tough. If you heard those admonitions frequently growing up, they're still in your head creating all sorts of conflict and hesitation when you're in front of a prospect.
But let's not blame this on Mom and Dad. They meant well. (And they weren't worried how this might impact our ability to sell because they didn't want us to go into sales in the first place.)
Prescription: Beliefs drive actions, actions cause results and results reinforce beliefs. The first step is to acknowledge the problem exists. Next make a list of the negative consequences the problem has for you. (For example, believing that you shouldn't bother important people will inhibit you from calling at the top, thus forcing you into a position where you are making presentations to people who can't say yes. This slows down the sales process, lowers your closing rate and reduces your sales.)
Commit yourself to overcoming the problem. Re-write the non-supportive belief. ("I must call at the top in order to be successful.") Tell it to yourself over and over until your subconscious now has a new belief. Your new belief will cause you to act differently. No longer will you consider it acceptable to present to non-decision makers and you'll find your sales cycle shortened and you’ll close a higher percentage of your proposals.
First things first. You have to change your beliefs if you want to change your results.
Whetstone Group is a sales process improvement company that focuses on helping companies implement a proven sales process that will increase sales, shorten the selling cycle, increase closing rates, and improve margins. Learn more at www.whetstonegroup.com
Monday, April 18, 2011
"Now That We're Done, Can I Ask You a Question?"
Today the Whetstone Group shares a great way for you to get a second chance with a prospect when it seems like there's nothing left to be done. It's definitely worth a try!
Problem: We blew it. The prospect said "no." We worked like crazy to put together a great presentation and our hopes to get a commitment to buy were high, but it just did't happen. The result was a no...failure, and worse, now we don't know where to go. Do we just pack it up and leave? There's got to be a better exit strategy than that.
Analysis: We have to look back to the qualifying steps of the call. We probably failed to accurately diagnose the prospect's pain and as a result our prescription (or proposal) was off target. But it's too late now. We need a strategy to get us back in the game. Here’s an idea that works.
Prescription: After you've gotten a "no" from the prospect, try saying something like this. "Mr. Prospect, it sounds like it's over. Am I right?" Prospect acknowledges that it is. Then you say, "Well, now that we're finished, can I ask you a question before I leave?" The prospect will let you do this since he has a vision of your imminent departure. You continue, "First let me apologize. I really felt like we had a good fit, but obviously I failed to completely understand what you were looking for. That's my fault." Now you conclude with, "What were you really hoping I would have brought to the table today so that you would have felt more comfortable with my proposal?"
This is where the prospect will typically bail you out and tell you what you needed to present to get the business. Once he's told you, if it's something you can do, you may be able to resurrect the sale by saying, "Thanks, I guess I really blew it. But if I could do that, would it make any sense for us to continue talking or should we keep the file closed?" You'll be amazed at how it gets people to open up and talk, once they think it's over. It may give you that second chance you need to make the sale.
Whetstone Group is a sales process improvement company that focuses on helping companies implement a proven sales process that will increase sales, shorten the selling cycle, increase closing rates, and improve margins. Learn more at www.whetstonegroup.com
Problem: We blew it. The prospect said "no." We worked like crazy to put together a great presentation and our hopes to get a commitment to buy were high, but it just did't happen. The result was a no...failure, and worse, now we don't know where to go. Do we just pack it up and leave? There's got to be a better exit strategy than that.
Analysis: We have to look back to the qualifying steps of the call. We probably failed to accurately diagnose the prospect's pain and as a result our prescription (or proposal) was off target. But it's too late now. We need a strategy to get us back in the game. Here’s an idea that works.
Prescription: After you've gotten a "no" from the prospect, try saying something like this. "Mr. Prospect, it sounds like it's over. Am I right?" Prospect acknowledges that it is. Then you say, "Well, now that we're finished, can I ask you a question before I leave?" The prospect will let you do this since he has a vision of your imminent departure. You continue, "First let me apologize. I really felt like we had a good fit, but obviously I failed to completely understand what you were looking for. That's my fault." Now you conclude with, "What were you really hoping I would have brought to the table today so that you would have felt more comfortable with my proposal?"
This is where the prospect will typically bail you out and tell you what you needed to present to get the business. Once he's told you, if it's something you can do, you may be able to resurrect the sale by saying, "Thanks, I guess I really blew it. But if I could do that, would it make any sense for us to continue talking or should we keep the file closed?" You'll be amazed at how it gets people to open up and talk, once they think it's over. It may give you that second chance you need to make the sale.
Whetstone Group is a sales process improvement company that focuses on helping companies implement a proven sales process that will increase sales, shorten the selling cycle, increase closing rates, and improve margins. Learn more at www.whetstonegroup.com
Friday, March 11, 2011
The Marquee Account
There are some businesses that salespeople would love to have on their list of clients. Big, splashy names that say you're someone to work with. Those companies are great, but sometimes the costs can outweigh the benefits. Read on, before you decide you must have that big name account!
Problem: Tony was looking for advice on how to sell a high profile prospect who was constructing a large new distribution center in his territory. Tony's company sold and installed voice and data cabling and new construction was its primary market. Tony said that the buyer insisted that the business would go to the vendor who had the best price since they regarded voice and data cabling as a commodity, so clearly price would be the only real buying criteria. That, unfortunately, would virtually eliminate Tony's company since they were definitely not the low price alternative. He said he had probed extensively for pain and found none. The actual dollar value of the business was not great and Tony said he wanted to focus on better prospects, but Bill, his sales manager, was adamant that he continue pushing to get this business. Tony felt that his only real alternative was to drop the price and "buy" the business, but he was afraid they'd lose money on the deal. He felt trapped.
Analysis: Most business owners, sales managers and salespeople have their wish list of "marquee" accounts that they are desperate to have on their customer list. Having high profile accounts is a great idea, but some of these companies should not be on anybody's list. Sometimes they are just too difficult to do business with. However, this blind obsession often overrules good judgment. People become emotionally involved in selling these prospects and find it very difficult to take "no" for an answer. So they often offer concessions that do not make good business sense and they invest far too much valuable selling time trying to close the deal. While they're doing this they run the risk of neglecting existing customers, making costly concessions and missing some real opportunities for lack of time.
Prescription: Obsession may be a great name for a perfume, but it has no place in the world of sales. The more emotionally attached you are to a piece of business, the less objective you'll be. Have you ever celebrated after you won a big, high profile deal only to regret it later? If it's not good business for you, let your competition have it. (Letting them deal with low margin, problem accounts actually might be a good business strategy.) You should evaluate every piece of business on its merit, and if makes good business sense, go get it. Don't obsess with a big name account just because of the marquee value.
Whetstone Group is a sales process improvement company that focuses on helping companies implement a proven sales process that will increase sales, shorten the selling cycle, increase closing rates, and improve margins. Learn more at www.whetstonegroup.com
Problem: Tony was looking for advice on how to sell a high profile prospect who was constructing a large new distribution center in his territory. Tony's company sold and installed voice and data cabling and new construction was its primary market. Tony said that the buyer insisted that the business would go to the vendor who had the best price since they regarded voice and data cabling as a commodity, so clearly price would be the only real buying criteria. That, unfortunately, would virtually eliminate Tony's company since they were definitely not the low price alternative. He said he had probed extensively for pain and found none. The actual dollar value of the business was not great and Tony said he wanted to focus on better prospects, but Bill, his sales manager, was adamant that he continue pushing to get this business. Tony felt that his only real alternative was to drop the price and "buy" the business, but he was afraid they'd lose money on the deal. He felt trapped.
Analysis: Most business owners, sales managers and salespeople have their wish list of "marquee" accounts that they are desperate to have on their customer list. Having high profile accounts is a great idea, but some of these companies should not be on anybody's list. Sometimes they are just too difficult to do business with. However, this blind obsession often overrules good judgment. People become emotionally involved in selling these prospects and find it very difficult to take "no" for an answer. So they often offer concessions that do not make good business sense and they invest far too much valuable selling time trying to close the deal. While they're doing this they run the risk of neglecting existing customers, making costly concessions and missing some real opportunities for lack of time.
Prescription: Obsession may be a great name for a perfume, but it has no place in the world of sales. The more emotionally attached you are to a piece of business, the less objective you'll be. Have you ever celebrated after you won a big, high profile deal only to regret it later? If it's not good business for you, let your competition have it. (Letting them deal with low margin, problem accounts actually might be a good business strategy.) You should evaluate every piece of business on its merit, and if makes good business sense, go get it. Don't obsess with a big name account just because of the marquee value.
Whetstone Group is a sales process improvement company that focuses on helping companies implement a proven sales process that will increase sales, shorten the selling cycle, increase closing rates, and improve margins. Learn more at www.whetstonegroup.com
Friday, December 17, 2010
A New Twist on Getting Referrals
Referrals are an essential part of building your business - and this tip from the Whetstone Group will help you in getting more of them!
Problem: What salesperson gets an adequate supply of referrals? Most don't. For most, getting good referrals is a matter of chance, not choice. And yet, referrals are the best source of new business. Without referrals, salespeople are dependent on other prospecting sources such as cold calling, and cold calling is the least productive of new business development efforts.
Analysis: Why aren't salespeople more proactive in asking for referrals? There are lots of reasons and it all boils down to what the experts call "negative self-talk." It's also known as head trash and it sounds like this: "What if I ask for a referral and they don't have one? Asking for referrals will make me appear needy. Every time in the past that I've asked for referrals it's turned out to be a futile effort. Getting referrals sounds good, but the reality is that it doesn’t work." With this mindset, one can imagine how difficult it is to ask for referrals.
Prescription: Here's a new tactic for you to try. Often we invite customers to lunch or dinner. When the date is set, say this to your client: "Can I ask you a question? Let's pretend we were having lunch next week and during the lunch I brought up the subject of referrals. That'd make you uncomfortable, wouldn't it?" The odds of your client saying, "Yes, you're right," are very low. Chances are they’d say, "Oh no, that would be okay." A gentle takeaway ("Are you sure?") will confirm their willingness to give you referrals during the meeting. Now you've set the stage to ask for referrals during your appointment. Once the stage has been set, discussing whom they might be able to refer you to will be easy.
Whetstone Group is a sales process improvement company that focuses on helping companies implement a proven sales process that will increase sales, shorten the selling cycle, increase closing rates, and improve margins. Learn more at www.whetstonegroup.com
Problem: What salesperson gets an adequate supply of referrals? Most don't. For most, getting good referrals is a matter of chance, not choice. And yet, referrals are the best source of new business. Without referrals, salespeople are dependent on other prospecting sources such as cold calling, and cold calling is the least productive of new business development efforts.
Analysis: Why aren't salespeople more proactive in asking for referrals? There are lots of reasons and it all boils down to what the experts call "negative self-talk." It's also known as head trash and it sounds like this: "What if I ask for a referral and they don't have one? Asking for referrals will make me appear needy. Every time in the past that I've asked for referrals it's turned out to be a futile effort. Getting referrals sounds good, but the reality is that it doesn’t work." With this mindset, one can imagine how difficult it is to ask for referrals.
Prescription: Here's a new tactic for you to try. Often we invite customers to lunch or dinner. When the date is set, say this to your client: "Can I ask you a question? Let's pretend we were having lunch next week and during the lunch I brought up the subject of referrals. That'd make you uncomfortable, wouldn't it?" The odds of your client saying, "Yes, you're right," are very low. Chances are they’d say, "Oh no, that would be okay." A gentle takeaway ("Are you sure?") will confirm their willingness to give you referrals during the meeting. Now you've set the stage to ask for referrals during your appointment. Once the stage has been set, discussing whom they might be able to refer you to will be easy.
Whetstone Group is a sales process improvement company that focuses on helping companies implement a proven sales process that will increase sales, shorten the selling cycle, increase closing rates, and improve margins. Learn more at www.whetstonegroup.com
Thursday, December 2, 2010
Early Warning Signs
The Whetstone Group is a sales training firm that doles out practical advice in an easy to read format. Today they tackle how to recognize the early warning signs that a deal isn't going to work out, so you can stop wasting your time and move on to better options.
Problem: "What am I doing here?" Robert said to himself. He was twenty minutes into the initial meeting with this prospect, and he was clearly fighting an uphill battle. All his attempts to develop rapport were met with apathetic, almost frigid responses. His questions, simple and innocuous though they were, received little more than one or two word responses. "What's going on here?" he wondered. This guy won't even crack a smile and yet he gave me the appointment. Is he just having a bad day, or do I have a hygiene problem? He just couldn't figure it out, yet he kept at it, trying to pump some life into this dying appointment. He wanted to quit, but his ego wouldn't let him; he felt he should be able to breathe some life into this situation.
We've all been there. We work hard to get an appointment and are determined to take the sales process all the way through to the end, to make that "all-important" presentation. No matter what. And it almost never pays off.
Diagnosis: Some prospects just aren't worth the effort. Let's face it, there are "good" prospects...and "bad" prospects. In fact, a bad prospect is not a prospect at all. Any prospect that is antagonistic, vague and even non-communicative is a bad prospect. But salespeople, despite the obvious danger signals, are almost completely reluctant to disengage. The old "hope-a-hope-a" strategy is firmly entrenched, along with a liberal dose of denial of the obvious warning signs. This old adage comes to mind...if it walks like a duck and quacks like a duck, it probably IS a duck. Well, if it exhibits all the initial danger signs of a bad prospect, it probably is a bad prospect.
Prescription: The good ones deserve our time and effort. The rest should be dumped like a bad habit. Every prospect must pass the first qualifying hurdle, or you must disengage quickly. There are definite warning signs, and fortunately, they show up early in the process and are easily recognizable, if you know what you’re looking for. If you can't answer positively to these six quick qualifying questions, your continued efforts with the prospect will probably be futile. Here they are...
·Is the prospect friendly?
·Will the prospect answer your questions?
·Does the prospect know what he wants?
·Will he give you access to the decision maker (assuming you're not at that level yet)?
·Does he want "it" in a relatively short time frame?
·Will he work with you on an exclusive or semi-exclusive basis, or is this going out to the entire world?
If you're getting a bunch of negative answers to the above, your prospect may simply be looking to pick your brain, and it's probably time to say "Adios" and move on.
Whetstone Group is a sales process improvement company that focuses on helping companies implement a proven sales process that will increase sales, shorten the selling cycle, increase closing rates, and improve margins. Learn more at www.whetstonegroup.com
Problem: "What am I doing here?" Robert said to himself. He was twenty minutes into the initial meeting with this prospect, and he was clearly fighting an uphill battle. All his attempts to develop rapport were met with apathetic, almost frigid responses. His questions, simple and innocuous though they were, received little more than one or two word responses. "What's going on here?" he wondered. This guy won't even crack a smile and yet he gave me the appointment. Is he just having a bad day, or do I have a hygiene problem? He just couldn't figure it out, yet he kept at it, trying to pump some life into this dying appointment. He wanted to quit, but his ego wouldn't let him; he felt he should be able to breathe some life into this situation.
We've all been there. We work hard to get an appointment and are determined to take the sales process all the way through to the end, to make that "all-important" presentation. No matter what. And it almost never pays off.
Diagnosis: Some prospects just aren't worth the effort. Let's face it, there are "good" prospects...and "bad" prospects. In fact, a bad prospect is not a prospect at all. Any prospect that is antagonistic, vague and even non-communicative is a bad prospect. But salespeople, despite the obvious danger signals, are almost completely reluctant to disengage. The old "hope-a-hope-a" strategy is firmly entrenched, along with a liberal dose of denial of the obvious warning signs. This old adage comes to mind...if it walks like a duck and quacks like a duck, it probably IS a duck. Well, if it exhibits all the initial danger signs of a bad prospect, it probably is a bad prospect.
Prescription: The good ones deserve our time and effort. The rest should be dumped like a bad habit. Every prospect must pass the first qualifying hurdle, or you must disengage quickly. There are definite warning signs, and fortunately, they show up early in the process and are easily recognizable, if you know what you’re looking for. If you can't answer positively to these six quick qualifying questions, your continued efforts with the prospect will probably be futile. Here they are...
·Is the prospect friendly?
·Will the prospect answer your questions?
·Does the prospect know what he wants?
·Will he give you access to the decision maker (assuming you're not at that level yet)?
·Does he want "it" in a relatively short time frame?
·Will he work with you on an exclusive or semi-exclusive basis, or is this going out to the entire world?
If you're getting a bunch of negative answers to the above, your prospect may simply be looking to pick your brain, and it's probably time to say "Adios" and move on.
Whetstone Group is a sales process improvement company that focuses on helping companies implement a proven sales process that will increase sales, shorten the selling cycle, increase closing rates, and improve margins. Learn more at www.whetstonegroup.com
Tuesday, November 23, 2010
The Perils of Discounting
The Whetstone Group has a great newsletter where they dispense advice in a fun problem/analysis/prescription format. It makes things clear and easy to understand. Their advice in this article is especially clear - think twice before discounting! It can have unforseen results.
Problem: The CFO was worried. For the past six months the company's margins had been dropping and now they were at the point where something had to be done. Finance had researched the situation thoroughly and the finger was pointing directly at sales.
Analysis: Ron, the new sales manager, was brought in from outside the company to build sales volume. Aggressive and optimistic, he was determined to make a name for himself quickly. In his eagerness to increase sales, he began to approve his reps' requests for discounts to close deals quicker. He believed shaving a few points off the selling price wouldn't hurt anything, and they'd quickly make it up with increased volume. Pretty soon, as his reps discovered that discounts were easy to get approved, they began offering them more frequently and they became dependent on discounting as their default closing tactic. Sales were increasing, but Ron wasn't paying attention to the bigger picture.
Prescription: Ron didn't realize that if a company's net profit before tax is 10%, for example, a seemingly insignificant 5% reduction in selling price amounts to a 50% hit on the bottom line. Look at the numbers. If you have a sale for $10,000 and the net profit before tax is 10%, that's $1,000. If the salesperson gives up 5% ($500) to close the deal, that's half the company's profit on the sale. It's real money, not funny money. On a personal basis, it's just like you and I giving up half the money we put into our retirement plan.
Discounting seems so innocent; just a few pennies on the dollar, but it can be disastrous. What seems like a minor concession to a customer in order to close a deal often has serious consequences for a company. If the company is publicly traded the analysts will downgrade their opinions of the company and the stock will decline, hurting shareholders and employees alike.
Instead of discounting, learn to create value for your client so they don't feel like they have to ask for discounts. After all, your willingness to give a discount may send a message that you don't think the value is there. But if you must discount, get something of equal or greater value in return; perhaps a larger order, an accelerated payment schedule or some other concession.
Whetstone Group is a sales process improvement company that focuses on helping companies implement a proven sales process that will increase sales, shorten the selling cycle, increase closing rates, and improve margins. Learn more at www.whetstonegroup.com
Problem: The CFO was worried. For the past six months the company's margins had been dropping and now they were at the point where something had to be done. Finance had researched the situation thoroughly and the finger was pointing directly at sales.
Analysis: Ron, the new sales manager, was brought in from outside the company to build sales volume. Aggressive and optimistic, he was determined to make a name for himself quickly. In his eagerness to increase sales, he began to approve his reps' requests for discounts to close deals quicker. He believed shaving a few points off the selling price wouldn't hurt anything, and they'd quickly make it up with increased volume. Pretty soon, as his reps discovered that discounts were easy to get approved, they began offering them more frequently and they became dependent on discounting as their default closing tactic. Sales were increasing, but Ron wasn't paying attention to the bigger picture.
Prescription: Ron didn't realize that if a company's net profit before tax is 10%, for example, a seemingly insignificant 5% reduction in selling price amounts to a 50% hit on the bottom line. Look at the numbers. If you have a sale for $10,000 and the net profit before tax is 10%, that's $1,000. If the salesperson gives up 5% ($500) to close the deal, that's half the company's profit on the sale. It's real money, not funny money. On a personal basis, it's just like you and I giving up half the money we put into our retirement plan.
Discounting seems so innocent; just a few pennies on the dollar, but it can be disastrous. What seems like a minor concession to a customer in order to close a deal often has serious consequences for a company. If the company is publicly traded the analysts will downgrade their opinions of the company and the stock will decline, hurting shareholders and employees alike.
Instead of discounting, learn to create value for your client so they don't feel like they have to ask for discounts. After all, your willingness to give a discount may send a message that you don't think the value is there. But if you must discount, get something of equal or greater value in return; perhaps a larger order, an accelerated payment schedule or some other concession.
Whetstone Group is a sales process improvement company that focuses on helping companies implement a proven sales process that will increase sales, shorten the selling cycle, increase closing rates, and improve margins. Learn more at www.whetstonegroup.com
Thursday, October 14, 2010
Eliminate Mutual Confusion
Today the Whetstone Group covers a topic that far too many people are familiar with - meetings that go nowhere. Their advice will help you to turn those meetings around, making them effective and keeping the sale moving.
Problem: Ever go on a sales call where there seemed to be little structure, where both parties seemed to be on different pages, where expectations were not met, and little was accomplished? Even worse, you expected something positive to occur but simply got a lukewarm response such as, "Give me some time to think about what we've covered. Call me in a few days." Opportunities are squandered and the buyer seems to be in control.
Analysis: All too often sales calls are unstructured; objectives are not determined or communicated. Winging it seems to be the primary strategy employed by the salesperson. Assumptions are made that the buyer knows why you're there and no clarification of purpose is needed.
Prescription: The key to successfully implementing the Common Sense Selling approach and taking the lead in the selling interview is to agree early in the meeting as to exactly what the agenda will be. You must determine with your prospect the amount of time available for the meeting, what the prospect would like to accomplish for it to be a successful meeting, obtain permission to ask questions to get a better understanding of the prospect's needs, and agree that at the end of the meeting, at the very least, you'll make a decision as to whether or not to continue talking.
If you have a very clear meeting agreement, you'll build tremendous rapport with the prospect, improve communication significantly because both parties have the opportunity to ask questions, eliminate premature presentations, get decisions and eliminate "think it overs" and, most importantly, take leadership of the selling interview. In addition, our clients tell us that prospects visibly begin to relax when they hear that the seller is comfortable with hearing "no." The meeting agreement is one of the most effective selling tools you'll ever own...master it and you're well on your way to becoming a true sales superstar.
Whetstone Group is a sales process improvement company that focuses on helping companies implement a proven sales process that will increase sales, shorten the selling cycle, increase closing rates, and improve margins. Learn more at www.whetstonegroup.com
Problem: Ever go on a sales call where there seemed to be little structure, where both parties seemed to be on different pages, where expectations were not met, and little was accomplished? Even worse, you expected something positive to occur but simply got a lukewarm response such as, "Give me some time to think about what we've covered. Call me in a few days." Opportunities are squandered and the buyer seems to be in control.
Analysis: All too often sales calls are unstructured; objectives are not determined or communicated. Winging it seems to be the primary strategy employed by the salesperson. Assumptions are made that the buyer knows why you're there and no clarification of purpose is needed.
Prescription: The key to successfully implementing the Common Sense Selling approach and taking the lead in the selling interview is to agree early in the meeting as to exactly what the agenda will be. You must determine with your prospect the amount of time available for the meeting, what the prospect would like to accomplish for it to be a successful meeting, obtain permission to ask questions to get a better understanding of the prospect's needs, and agree that at the end of the meeting, at the very least, you'll make a decision as to whether or not to continue talking.
If you have a very clear meeting agreement, you'll build tremendous rapport with the prospect, improve communication significantly because both parties have the opportunity to ask questions, eliminate premature presentations, get decisions and eliminate "think it overs" and, most importantly, take leadership of the selling interview. In addition, our clients tell us that prospects visibly begin to relax when they hear that the seller is comfortable with hearing "no." The meeting agreement is one of the most effective selling tools you'll ever own...master it and you're well on your way to becoming a true sales superstar.
Whetstone Group is a sales process improvement company that focuses on helping companies implement a proven sales process that will increase sales, shorten the selling cycle, increase closing rates, and improve margins. Learn more at www.whetstonegroup.com
Thursday, September 30, 2010
The Price Trap
Price is a huge issue for everyone - sellers and buyers alike. Today, The Whetstone Group shares how you can avoid the price trap.
Problem: One of the most frequent complaints we hear from business owners, sales managers and salespeople alike is the following: "Price is the primary focus of the sale these days -- all of our prospects want the lowest price." It starts out innocently enough. Buyers lead with questions and comments like these: "How much is it? Can you give me a quote?" As the sales discussion proceeds it gets more intense: "That seems like a lot." or "Why is it so expensive?" or "I saw it for less somewhere else." Salespeople often respond by cutting price thus giving away margins and commissions.
Diagnosis: People who sell hear about price so often that they expect the conversation to dwell on price and they tend to overreact to price concerns. Sixty-eight percent of salespeople from a wide range of industries thought that price was the main concern of the customer based on a recent survey conducted by The Sales Board. Yet when customers were asked what was most important to them in a purchase their response was much different. The majority of people were more concerned with quality, service, and relationship than price.
Prescription: To get out of the price trap, you have to stop focusing on it. The only time price is the main issue is when there are no other factors that are important which is rarely (maybe never) the case. The next step is to differentiate yourself and your product so that the prospect does not focus on price. That means not giving feature and benefit presentations -- which cause you to look like every other salesperson.
Instead, change your approach in a couple of ways to focus on the prospect and her challenges and not on your product. First, suggest to your prospect that it’s important to establish an environment where you can explore the details about the prospect's situation. Mention to the prospect that your "biggest concern" is that her focus will be on price and that addressing the real issues (pain) will take a back seat to price. By addressing the price issue early on, you’ll find out where price fits into the decision-making criteria. Experience shows that it will become secondary if you are successful in refocusing the discussion to the prospect’s pain. Next, lead an interactive discussion to understand the emotional reasons behind the prospect's situation and uncover the pains that need to be addressed. By doing this you and the prospect will mutually discover if there is value in your product and remove the emphasis on price.
Whetstone Group is a sales process improvement company that focuses on helping companies implement a proven sales process that will increase sales, shorten the selling cycle, increase closing rates, and improve margins. Learn more at www.whetstonegroup.com
Problem: One of the most frequent complaints we hear from business owners, sales managers and salespeople alike is the following: "Price is the primary focus of the sale these days -- all of our prospects want the lowest price." It starts out innocently enough. Buyers lead with questions and comments like these: "How much is it? Can you give me a quote?" As the sales discussion proceeds it gets more intense: "That seems like a lot." or "Why is it so expensive?" or "I saw it for less somewhere else." Salespeople often respond by cutting price thus giving away margins and commissions.
Diagnosis: People who sell hear about price so often that they expect the conversation to dwell on price and they tend to overreact to price concerns. Sixty-eight percent of salespeople from a wide range of industries thought that price was the main concern of the customer based on a recent survey conducted by The Sales Board. Yet when customers were asked what was most important to them in a purchase their response was much different. The majority of people were more concerned with quality, service, and relationship than price.
Prescription: To get out of the price trap, you have to stop focusing on it. The only time price is the main issue is when there are no other factors that are important which is rarely (maybe never) the case. The next step is to differentiate yourself and your product so that the prospect does not focus on price. That means not giving feature and benefit presentations -- which cause you to look like every other salesperson.
Instead, change your approach in a couple of ways to focus on the prospect and her challenges and not on your product. First, suggest to your prospect that it’s important to establish an environment where you can explore the details about the prospect's situation. Mention to the prospect that your "biggest concern" is that her focus will be on price and that addressing the real issues (pain) will take a back seat to price. By addressing the price issue early on, you’ll find out where price fits into the decision-making criteria. Experience shows that it will become secondary if you are successful in refocusing the discussion to the prospect’s pain. Next, lead an interactive discussion to understand the emotional reasons behind the prospect's situation and uncover the pains that need to be addressed. By doing this you and the prospect will mutually discover if there is value in your product and remove the emphasis on price.
Whetstone Group is a sales process improvement company that focuses on helping companies implement a proven sales process that will increase sales, shorten the selling cycle, increase closing rates, and improve margins. Learn more at www.whetstonegroup.com
Tuesday, August 31, 2010
Who Initiated This Project?
The Whetstone Group offers sales advice in their newsletter in a fun format: Problem, Diagnosis, Prescription. Today they discuss that age-old problem - finding the decision maker. This is one doctor's visit I don't mind going to!
Problem: Brian was frustrated with his inability to get to the decision-makers in the companies that he was calling on. Time and time again he seemed to be stuck with low and mid-level managers who were relentless in two areas: their quest for as much information as possible and their reluctance to give Brian access to the person who had the authority to authorize the purchase. This is a commonplace occurrence in the life of many salespeople. Brian’s frustration was mounting and his selling cycle was lengthening.
Diagnosis: Why do companies assign low-level people to deal with salespeople? There are a number of reasons, but two of the most prominent are: decision-makers sometimes feel they are too busy and need to delegate the task, and sometimes lower level people are simply on a hunt for information for a project that may not even have a purchase at the ultimate objective.
Prescription: If Brian is to avoid this problem, he must gain access to the authority behind the request. The following two-part tactic has proven successful in these types of situations. First, find out who initiated the request, and why, and then talk about the downside of a poorly informed solution provider. It might sound something like this.
Salesperson: "Can you help me understand who initiated this project and why the project is important to the company?"
Seymour: "That would be Jim, the VP of Finance. He needs it because his department wants to (mentions something about the problem)."
Salesperson: "And you’ve been charged with recommending a solution?"
Seymour: "Right."
Salesperson: "And I assume you’d like me to provide you with some options?"
Seymour: "Absolutely."
Salesperson: "Then I’m going to need your help. No offense, but typically I find that in situations like this there’s more to the situation than meets the eye. Usually the person who initiated the project has some very specific knowledge about the impact of the problem on the company, maybe other solutions that have been tried that did not work basically information that would help me tremendously in coming up with some good recommendations. Without that information, I may be missing something that is critical to recommending the right solution. Wouldn’t it make sense for us to include the person who started the project in our dialogue at the earliest opportunity so we don’t run into any problems?"
Initiating a dialogue like this may help you get to the right people, which is half the battle is getting the sale. Remember, selling successfully sometimes requires just a very slight edge. This one may come in handy.
Whetstone Group is a sales process improvement company that focuses on helping companies implement a proven sales process that will increase sales, shorten the selling cycle, increase closing rates, and improve margins. Learn more at www.whetstonegroup.com
Problem: Brian was frustrated with his inability to get to the decision-makers in the companies that he was calling on. Time and time again he seemed to be stuck with low and mid-level managers who were relentless in two areas: their quest for as much information as possible and their reluctance to give Brian access to the person who had the authority to authorize the purchase. This is a commonplace occurrence in the life of many salespeople. Brian’s frustration was mounting and his selling cycle was lengthening.
Diagnosis: Why do companies assign low-level people to deal with salespeople? There are a number of reasons, but two of the most prominent are: decision-makers sometimes feel they are too busy and need to delegate the task, and sometimes lower level people are simply on a hunt for information for a project that may not even have a purchase at the ultimate objective.
Prescription: If Brian is to avoid this problem, he must gain access to the authority behind the request. The following two-part tactic has proven successful in these types of situations. First, find out who initiated the request, and why, and then talk about the downside of a poorly informed solution provider. It might sound something like this.
Salesperson: "Can you help me understand who initiated this project and why the project is important to the company?"
Seymour: "That would be Jim, the VP of Finance. He needs it because his department wants to (mentions something about the problem)."
Salesperson: "And you’ve been charged with recommending a solution?"
Seymour: "Right."
Salesperson: "And I assume you’d like me to provide you with some options?"
Seymour: "Absolutely."
Salesperson: "Then I’m going to need your help. No offense, but typically I find that in situations like this there’s more to the situation than meets the eye. Usually the person who initiated the project has some very specific knowledge about the impact of the problem on the company, maybe other solutions that have been tried that did not work basically information that would help me tremendously in coming up with some good recommendations. Without that information, I may be missing something that is critical to recommending the right solution. Wouldn’t it make sense for us to include the person who started the project in our dialogue at the earliest opportunity so we don’t run into any problems?"
Initiating a dialogue like this may help you get to the right people, which is half the battle is getting the sale. Remember, selling successfully sometimes requires just a very slight edge. This one may come in handy.
Whetstone Group is a sales process improvement company that focuses on helping companies implement a proven sales process that will increase sales, shorten the selling cycle, increase closing rates, and improve margins. Learn more at www.whetstonegroup.com
Tuesday, July 20, 2010
Stump the Gatekeeper
The Whetstone Group shares excellent sales advice in a "Problem, Diagnosis, Prescription" format that is fun and easy to read. Today they share an interesting way to get past the gatekeeper to the person you need to talk to.
Problem: Sara was becoming increasingly frustrated in her efforts to reach the decision makers when she was prospecting. Time after time access was blocked by the gatekeepers and information gatherers. It often seemed like there was a conspiracy to keep her from speaking to the top-level people. She had tried various tactics, but nothing was working. Now her sales were suffering.
Diagnosis: Gatekeepers typically feel that an important part of their job is to insulate their boss from unwanted intrusions. Only important people are permitted to have access and salespeople are not considered important. As for the information gatherers, they feel they've been assigned an important job. It has two parts. First, they need to get as much information as possible from various vendors so the company can evaluate their options. Second, they're supposed to keep those pesky salespeople away. These "Seemore's" feel they've been entrusted with an important job plus they want to protect their turf, so some ego is involved here as well. But the bottom line is that it all gets back to the negative attitude most prospects have about salespeople and that can be summed up in just a few words. Salespeople are mainly concerned with selling something and typically bring little value to the situation. The prospect is thinking, "Let's just get them to come in and answer our questions and then we'll decide who has the best options."
Prescription: Obviously a different approach is needed. Here's one that works. Ask a question they can't answer. That's right. Throw them a curve ball so they have to go elsewhere to get information. For example, ask the techie a non-technical question, such as, "What type of return on investment would the company need to justify this purchase?" Or ask an administrative person a technical question like, "Can you help me understand exactly how this software will interface with your existing system?"
The questions must be real and you need to have several that the person can't answer so that he/she says, "Well, I'm not sure, Ms. Smith has that information." You could then say, "Well, without this information, I'm afraid that I can't be as responsive as I'd like to your requests. I'm concerned that I might give you information that might be inaccurate, and that would make you look bad. Does it make any sense for you to introduce me to Ms. Smith so that I can get this information first hand? Then I can be sure that I get the right information to you."
If you're having a tough time getting to the right person, try this tactic. Remember, the person asking the questions is the person who is in control.
Whetstone Group is a sales process improvement company that focuses on helping companies implement a proven sales process that will increase sales, shorten the selling cycle, increase closing rates, and improve margins. Learn more at www.whetstonegroup.com
Problem: Sara was becoming increasingly frustrated in her efforts to reach the decision makers when she was prospecting. Time after time access was blocked by the gatekeepers and information gatherers. It often seemed like there was a conspiracy to keep her from speaking to the top-level people. She had tried various tactics, but nothing was working. Now her sales were suffering.
Diagnosis: Gatekeepers typically feel that an important part of their job is to insulate their boss from unwanted intrusions. Only important people are permitted to have access and salespeople are not considered important. As for the information gatherers, they feel they've been assigned an important job. It has two parts. First, they need to get as much information as possible from various vendors so the company can evaluate their options. Second, they're supposed to keep those pesky salespeople away. These "Seemore's" feel they've been entrusted with an important job plus they want to protect their turf, so some ego is involved here as well. But the bottom line is that it all gets back to the negative attitude most prospects have about salespeople and that can be summed up in just a few words. Salespeople are mainly concerned with selling something and typically bring little value to the situation. The prospect is thinking, "Let's just get them to come in and answer our questions and then we'll decide who has the best options."
Prescription: Obviously a different approach is needed. Here's one that works. Ask a question they can't answer. That's right. Throw them a curve ball so they have to go elsewhere to get information. For example, ask the techie a non-technical question, such as, "What type of return on investment would the company need to justify this purchase?" Or ask an administrative person a technical question like, "Can you help me understand exactly how this software will interface with your existing system?"
The questions must be real and you need to have several that the person can't answer so that he/she says, "Well, I'm not sure, Ms. Smith has that information." You could then say, "Well, without this information, I'm afraid that I can't be as responsive as I'd like to your requests. I'm concerned that I might give you information that might be inaccurate, and that would make you look bad. Does it make any sense for you to introduce me to Ms. Smith so that I can get this information first hand? Then I can be sure that I get the right information to you."
If you're having a tough time getting to the right person, try this tactic. Remember, the person asking the questions is the person who is in control.
Whetstone Group is a sales process improvement company that focuses on helping companies implement a proven sales process that will increase sales, shorten the selling cycle, increase closing rates, and improve margins. Learn more at www.whetstonegroup.com
Tuesday, June 29, 2010
How to Screw Up a Sure Thing
The Whetstone Group offers real advice for your sales problems. Have you ever encountered the following problem? Read on for their solution!
Problem: Tim, a software sales rep, had been having a rough day. He'd been bombarded with questions from several customers and had gotten behind on a proposal that he needed to finish before the end of the day. Then he got a call from Gene, a prospect who introduced himself by saying, "I've heard great things about your accounting software package. I saw a demo about a year ago, and was not in a position to purchase it at the time, but since then it's become very apparent that I need to integrate it immediately into my system."
"Wow," thought Tim. "This will be easy. It's about time something went right today."
Then Gene said, "I need to know about pricing and availability. And tech support is important, too. Tell me how that works."
Tim went into his pitch. He discussed tech support in detail, covered availability and other options, and explained that the price was $8000 with 30-day terms.
Gene's response was unexpected. He said that $8000 was quite a hefty price tag and he needed a couple of days to consider the purchase more carefully. He'd call Tim back next week.
Tim did a double take. "What just happened?" he thought. "This sale was in the bag, a sure thing, and now he's thinking it over? He said he needed the software right away." And that was the end of the call.
Diagnosis: Tim got lazy, plain and simple. He thought Gene was sold. All he had to do was give Gene the info he needed, then write it up. He got conned into doing a presentation without getting Gene to demonstrate why he was so excited about buying the software. The entire transaction was conducted at the intellectual level.
Prescription: Don't be lured into taking shortcuts. Don't mistake the prospect's enthusiasm for your product or service as a sure sale. Take the time to qualify the prospect and make sure he's real before you make your presentation. In Tim's case, a couple of quick questions would have made a world of difference. He might have said, "Before we discuss pricing, help me understand why this software is so important. I want to make sure the application is correct for you. Mind if I ask you a couple of questions?" Of course, you're probing for pain and one of the most important things to find out is the financial impact of not implementing a solution. Having discovered the financial impact and, assuming it was significant, you will find that the cost of the solution disappears as an objection.
Don't take shortcuts! Don't assume anything. Get the prospect involved at an emotional, not an intellectual, level. Use the system, qualify completely, and get the sale.
Whetstone Group is a sales process improvement company that focuses on helping companies implement a proven sales process that will increase sales, shorten the selling cycle, increase closing rates, and improve margins. Learn more at www.whetstonegroup.com
Problem: Tim, a software sales rep, had been having a rough day. He'd been bombarded with questions from several customers and had gotten behind on a proposal that he needed to finish before the end of the day. Then he got a call from Gene, a prospect who introduced himself by saying, "I've heard great things about your accounting software package. I saw a demo about a year ago, and was not in a position to purchase it at the time, but since then it's become very apparent that I need to integrate it immediately into my system."
"Wow," thought Tim. "This will be easy. It's about time something went right today."
Then Gene said, "I need to know about pricing and availability. And tech support is important, too. Tell me how that works."
Tim went into his pitch. He discussed tech support in detail, covered availability and other options, and explained that the price was $8000 with 30-day terms.
Gene's response was unexpected. He said that $8000 was quite a hefty price tag and he needed a couple of days to consider the purchase more carefully. He'd call Tim back next week.
Tim did a double take. "What just happened?" he thought. "This sale was in the bag, a sure thing, and now he's thinking it over? He said he needed the software right away." And that was the end of the call.
Diagnosis: Tim got lazy, plain and simple. He thought Gene was sold. All he had to do was give Gene the info he needed, then write it up. He got conned into doing a presentation without getting Gene to demonstrate why he was so excited about buying the software. The entire transaction was conducted at the intellectual level.
Prescription: Don't be lured into taking shortcuts. Don't mistake the prospect's enthusiasm for your product or service as a sure sale. Take the time to qualify the prospect and make sure he's real before you make your presentation. In Tim's case, a couple of quick questions would have made a world of difference. He might have said, "Before we discuss pricing, help me understand why this software is so important. I want to make sure the application is correct for you. Mind if I ask you a couple of questions?" Of course, you're probing for pain and one of the most important things to find out is the financial impact of not implementing a solution. Having discovered the financial impact and, assuming it was significant, you will find that the cost of the solution disappears as an objection.
Don't take shortcuts! Don't assume anything. Get the prospect involved at an emotional, not an intellectual, level. Use the system, qualify completely, and get the sale.
Whetstone Group is a sales process improvement company that focuses on helping companies implement a proven sales process that will increase sales, shorten the selling cycle, increase closing rates, and improve margins. Learn more at www.whetstonegroup.com
Wednesday, May 12, 2010
Leave Your Agenda at the Office
The Whetstone Group provides valuable information in a problem-analysis-prescription format. Read on for their excellent advice on selling.
Problem: Alligator Software had just introduced a major revision to their software but, in spite of tremendous initial enthusiasm, sales fell far short of expectations and management started to receive complaints about the conduct of their overzealous salespeople.
Analysis: Alligator was proud of their latest upgrades, so much so that management was convinced that they were finally in a position to overtake their primary competitor who owned 60% of the market. A national sales meeting was held and the entire forty person sales team converged on San Diego for a quick one and a half day meeting to introduce the "new product." After the proud techies got their chance to demo the software, the marketing department spent a half-day helping the salespeople understand all the features and benefits and how the new product would help their prospects reach new levels of efficiency.
Finally, management got their chance, and did they ever turn on the motivation! With extraordinary zeal they introduced the new compensation plan for sales and it was generous, to say the least. They left the salespeople with this message: "The market is ready for this product. It's new and innovative and everybody needs it. We've invested megabucks in development and need to recoup our investment. So get out there and move it. Don't take no for an answer. You can make it happen!"
So the highly motivated sales force departed, full of high expectations and renewed enthusiasm, but with the wrong agenda.
How easily we forget! It's not about you. It's about your prospect. Alligator's sales force descended on their unwary prospects like a bunch of wild animals ready for the kill. Their attitude was…forget about what the prospect needs, we’ve got to sell this stuff, now. Consultative selling went by the wayside and the vultures showed up. And, nobody bought.
Prescription: Simple. Shut up and listen. People aren't buying because you've got a quota or because your management said to go out and move the product. Here's what Ray Smith, the former Chairman and CEO of Bell Atlantic has to say about salespeople:
"The great sales professional helps you eliminate issues that are not a problem, and then focus you in on the really critical dimensions of the situation. At the right moment, the good ones ask the right questions. You don't want someone peddling a solution that comes with an agenda, which many do."
Alligator's sales force came with an agenda – move the product. That was their focus on every call. They cared little about the prospect's issues and asked few questions. They were clearly under pressure and it showed. Their prospects felt like they were being pressured to buy a used car or a time share and they didn’t buy. People buy for their reasons, not yours, so stop selling and start listening.
Whetstone Group is a sales process improvement company that focuses on helping companies implement a proven sales process that will increase sales, shorten the selling cycle, increase closing rates, and improve margins. Learn more at www.whetstonegroup.com
Problem: Alligator Software had just introduced a major revision to their software but, in spite of tremendous initial enthusiasm, sales fell far short of expectations and management started to receive complaints about the conduct of their overzealous salespeople.
Analysis: Alligator was proud of their latest upgrades, so much so that management was convinced that they were finally in a position to overtake their primary competitor who owned 60% of the market. A national sales meeting was held and the entire forty person sales team converged on San Diego for a quick one and a half day meeting to introduce the "new product." After the proud techies got their chance to demo the software, the marketing department spent a half-day helping the salespeople understand all the features and benefits and how the new product would help their prospects reach new levels of efficiency.
Finally, management got their chance, and did they ever turn on the motivation! With extraordinary zeal they introduced the new compensation plan for sales and it was generous, to say the least. They left the salespeople with this message: "The market is ready for this product. It's new and innovative and everybody needs it. We've invested megabucks in development and need to recoup our investment. So get out there and move it. Don't take no for an answer. You can make it happen!"
So the highly motivated sales force departed, full of high expectations and renewed enthusiasm, but with the wrong agenda.
How easily we forget! It's not about you. It's about your prospect. Alligator's sales force descended on their unwary prospects like a bunch of wild animals ready for the kill. Their attitude was…forget about what the prospect needs, we’ve got to sell this stuff, now. Consultative selling went by the wayside and the vultures showed up. And, nobody bought.
Prescription: Simple. Shut up and listen. People aren't buying because you've got a quota or because your management said to go out and move the product. Here's what Ray Smith, the former Chairman and CEO of Bell Atlantic has to say about salespeople:
"The great sales professional helps you eliminate issues that are not a problem, and then focus you in on the really critical dimensions of the situation. At the right moment, the good ones ask the right questions. You don't want someone peddling a solution that comes with an agenda, which many do."
Alligator's sales force came with an agenda – move the product. That was their focus on every call. They cared little about the prospect's issues and asked few questions. They were clearly under pressure and it showed. Their prospects felt like they were being pressured to buy a used car or a time share and they didn’t buy. People buy for their reasons, not yours, so stop selling and start listening.
Whetstone Group is a sales process improvement company that focuses on helping companies implement a proven sales process that will increase sales, shorten the selling cycle, increase closing rates, and improve margins. Learn more at www.whetstonegroup.com
Tuesday, March 9, 2010
It's Your Choice
Bad things happen - but it's your choice how you react to them - and therefore, your choice what comes next. Today, sales trainers The Whetstone Group share a story that shows the power of choice.
Problem: This was Phil's one-year anniversary, although it was an anniversary most people would just as soon forget. Phil was a business consultant who was proud of maintaining long-term business relationships with his clients. Exactly one year ago to the day Phil had experienced the culmination of the worst month of his business career. That day Phil had taken a call from a long time client who regretfully informed him that his company's services were no longer needed; the third such call he had received in the past month. He was devastated, and very confused about what was going on. He had worked hard to develop these business relationships and being fired was tough. Then he reacted the way so many in similar circumstances have; he went into a tailspin. He tanked. He started spending his time worrying about his business and commiserating about his bad fortune. For the next several months, things just got worse.
Analysis: Phil let unfortunate circumstances get the best of him. He suffered from a processing failure. He had a choice and picked the wrong one. He saw the loss of three major clients as a failure on his part and made the decision to let it affect him negatively. Instead, he could have learned a lesson from the experience.
Prescription: It's your choice how you process events that happen to you. Do you see things as problems or opportunities? Phil's story continues.
During the holidays, Phil was at a party and spent some time with Steve, who five years before had encountered a similar situation in his business. Steve told Phil that the temptation to feel sorry for himself was very strong, but he chose another option. Steve said that the loss of business he had suffered had caused him to take a long, hard look at the way his company treated their clients. He discovered an alarming trend. Many of his clients had begun to feel like they were being taken for granted. When this was discovered, Steve immediately implemented a customer appreciation and retention program, which quickly reversed the trend. Since then, his company's sales and profits exceeded industry standards and his company was recognized as the market leader in customer satisfaction.
Giving up and feeling sorry for yourself is the easy way; it takes no talent. The Chinese symbol for adversity contains the symbol for opportunity. Therefore, adversity brings opportunity. Look at the adversity as a learning opportunity. Pick something up when you fall down. There's always a lesson, if you look for it. Learn from it and move forward.
Whetstone Group is a sales process improvement company that focuses on helping companies implement a proven sales process that will increase sales, shorten the selling cycle, increase closing rates, and improve margins. Learn more at www.whetstonegroup.com
Problem: This was Phil's one-year anniversary, although it was an anniversary most people would just as soon forget. Phil was a business consultant who was proud of maintaining long-term business relationships with his clients. Exactly one year ago to the day Phil had experienced the culmination of the worst month of his business career. That day Phil had taken a call from a long time client who regretfully informed him that his company's services were no longer needed; the third such call he had received in the past month. He was devastated, and very confused about what was going on. He had worked hard to develop these business relationships and being fired was tough. Then he reacted the way so many in similar circumstances have; he went into a tailspin. He tanked. He started spending his time worrying about his business and commiserating about his bad fortune. For the next several months, things just got worse.
Analysis: Phil let unfortunate circumstances get the best of him. He suffered from a processing failure. He had a choice and picked the wrong one. He saw the loss of three major clients as a failure on his part and made the decision to let it affect him negatively. Instead, he could have learned a lesson from the experience.
Prescription: It's your choice how you process events that happen to you. Do you see things as problems or opportunities? Phil's story continues.
During the holidays, Phil was at a party and spent some time with Steve, who five years before had encountered a similar situation in his business. Steve told Phil that the temptation to feel sorry for himself was very strong, but he chose another option. Steve said that the loss of business he had suffered had caused him to take a long, hard look at the way his company treated their clients. He discovered an alarming trend. Many of his clients had begun to feel like they were being taken for granted. When this was discovered, Steve immediately implemented a customer appreciation and retention program, which quickly reversed the trend. Since then, his company's sales and profits exceeded industry standards and his company was recognized as the market leader in customer satisfaction.
Giving up and feeling sorry for yourself is the easy way; it takes no talent. The Chinese symbol for adversity contains the symbol for opportunity. Therefore, adversity brings opportunity. Look at the adversity as a learning opportunity. Pick something up when you fall down. There's always a lesson, if you look for it. Learn from it and move forward.
Whetstone Group is a sales process improvement company that focuses on helping companies implement a proven sales process that will increase sales, shorten the selling cycle, increase closing rates, and improve margins. Learn more at www.whetstonegroup.com
Wednesday, February 17, 2010
Show Me The Money!
It's never easy to talk about money - but as a top salesperson, you have to boldly go into those situations - with confidence and questions at the ready! Today the Whetstone Group walks you through this delicate process of the sale.
Problem: Why is money so difficult to discuss? Salespeople frequently hear from prospects that budget is "no problem" at the beginning of the sales call. However, once things start to get close, the story sometimes changes. We're told that we "have to sharpen our pencil," "get more competitive," or offer "additional discounts." And yet, once the sale is won, price seems to evaporate as an issue and pressure is put on the vendor to improve quality or service. Often we hear from salespeople that money is the number one issue in getting and keeping the business. We need to have more competitive pricing, better discount structures or we just can't compete. You've heard it all before.
Analysis: There are several reasons that investment or budget is discussed only superficially. First, is the unfortunate, self-limiting belief (that afflicts many, but not all salespeople) that discussing financial issues is impolite. Second, experience has shown us that a discussion of price typically deteriorates into a negotiation situation which is uncomfortable. Third, we're afraid that the prospect may not be able to afford our product. Fourth, deep down, we may not be convinced that our product is really worth what we're asking.
Prescription: Don't ever get yourself into a situation where you're making a proposal without finding out two things: 1) how much the problem is costing the prospect, and 2) how much they'd be willing to spend assuming your solution completely fixed the problem. It's imperative that you understand all the financial parameters related to the sale. One effective way to make sure budget and related money issues are discussed is for you to set a "trap" for yourself. It goes something like this: "Mr. Prospect, one of the things that I sometimes find difficult to discuss is budgetary issues related to purchasing my product. I'm not sure why that is, but I want to make sure that we take some time to talk about that today. Is that okay with you?" This "trap" lets the prospect know up-front that money issues will be part of the discussion and gives you an excuse to bring them up. You might say, "Do you remember that we wanted to discuss your budget for this type of purchase? Can we do that now?"
Oh, yeah! One last thing -- don't spend your valuable selling time with someone who doesn't have the financial resources to buy your product or service.
Whetstone Group is a sales process improvement company that focuses on helping companies implement a proven sales process that will increase sales, shorten the selling cycle, increase closing rates, and improve margins. Learn more at www.whetstonegroup.com
Problem: Why is money so difficult to discuss? Salespeople frequently hear from prospects that budget is "no problem" at the beginning of the sales call. However, once things start to get close, the story sometimes changes. We're told that we "have to sharpen our pencil," "get more competitive," or offer "additional discounts." And yet, once the sale is won, price seems to evaporate as an issue and pressure is put on the vendor to improve quality or service. Often we hear from salespeople that money is the number one issue in getting and keeping the business. We need to have more competitive pricing, better discount structures or we just can't compete. You've heard it all before.
Analysis: There are several reasons that investment or budget is discussed only superficially. First, is the unfortunate, self-limiting belief (that afflicts many, but not all salespeople) that discussing financial issues is impolite. Second, experience has shown us that a discussion of price typically deteriorates into a negotiation situation which is uncomfortable. Third, we're afraid that the prospect may not be able to afford our product. Fourth, deep down, we may not be convinced that our product is really worth what we're asking.
Prescription: Don't ever get yourself into a situation where you're making a proposal without finding out two things: 1) how much the problem is costing the prospect, and 2) how much they'd be willing to spend assuming your solution completely fixed the problem. It's imperative that you understand all the financial parameters related to the sale. One effective way to make sure budget and related money issues are discussed is for you to set a "trap" for yourself. It goes something like this: "Mr. Prospect, one of the things that I sometimes find difficult to discuss is budgetary issues related to purchasing my product. I'm not sure why that is, but I want to make sure that we take some time to talk about that today. Is that okay with you?" This "trap" lets the prospect know up-front that money issues will be part of the discussion and gives you an excuse to bring them up. You might say, "Do you remember that we wanted to discuss your budget for this type of purchase? Can we do that now?"
Oh, yeah! One last thing -- don't spend your valuable selling time with someone who doesn't have the financial resources to buy your product or service.
Whetstone Group is a sales process improvement company that focuses on helping companies implement a proven sales process that will increase sales, shorten the selling cycle, increase closing rates, and improve margins. Learn more at www.whetstonegroup.com
Wednesday, December 30, 2009
Looking Down on Your Meeting
The problem posed by The Whetstone Group is a common one - I know I've experienced it before! Read on for their solution to the problem - it's a great one to keep in mind!
Problem: In the parking lot on the way out of the sales meeting, Sid shook his head and said to his manager, "If I would have only asked about...the call would have taken a favorable turn. Why can't I think of those things while I am in the middle of the meeting?"
Assessment: Salespeople get emotionally "hooked" by reacting to what a prospect says during a meeting. The emotions could be anything from despair ("I'm losing this") to exhilaration ("things are going great"). For example: a prospect denies that they have a problem that you may be able to solve or challenges your credibility. This triggers an unconscious thought pattern that generates a feeling of frustration or defensiveness. This emotional response happens unconsciously and occupies our thoughts for a period of time. During that period we can't ask questions, listen properly or be objective. When a salesperson becomes emotionally involved in a meeting, they have lost control and will not be able to function effectively.
Prescription: Visualize yourself looking down on your meeting. There is a scientific term for this called dissociation. Dissociation can be learned and it starts long before you show up for the sales meeting. First, learn a system that will provide you with an overall strategy and set of tactics to handle any selling situation in an optimal way. Practice, rehearse and review it so you can follow it faithfully (like you would any other skill or sport). This gives you the ability to focus on the process of the meeting rather than the outcome - a key element of dissociation. Secondly, build your conviction and understanding by affirming these key concepts:
--Approach a sales call as if you had just won a million and you don't need the business.
--Remember that people buy things for their reasons and not for your reasons, so find out what their reasons are.
--"No" is an acceptable result of a sales call (provided you have qualified properly).
--Selling is no place to get your emotional needs met - get your emotional needs met from those who love you and support you.
Whetstone Group is a sales process improvement company that focuses on helping companies implement a proven sales process that will increase sales, shorten the selling cycle, increase closing rates, and improve margins. Learn more at www.whetstonegroup.com
Problem: In the parking lot on the way out of the sales meeting, Sid shook his head and said to his manager, "If I would have only asked about...the call would have taken a favorable turn. Why can't I think of those things while I am in the middle of the meeting?"
Assessment: Salespeople get emotionally "hooked" by reacting to what a prospect says during a meeting. The emotions could be anything from despair ("I'm losing this") to exhilaration ("things are going great"). For example: a prospect denies that they have a problem that you may be able to solve or challenges your credibility. This triggers an unconscious thought pattern that generates a feeling of frustration or defensiveness. This emotional response happens unconsciously and occupies our thoughts for a period of time. During that period we can't ask questions, listen properly or be objective. When a salesperson becomes emotionally involved in a meeting, they have lost control and will not be able to function effectively.
Prescription: Visualize yourself looking down on your meeting. There is a scientific term for this called dissociation. Dissociation can be learned and it starts long before you show up for the sales meeting. First, learn a system that will provide you with an overall strategy and set of tactics to handle any selling situation in an optimal way. Practice, rehearse and review it so you can follow it faithfully (like you would any other skill or sport). This gives you the ability to focus on the process of the meeting rather than the outcome - a key element of dissociation. Secondly, build your conviction and understanding by affirming these key concepts:
--Approach a sales call as if you had just won a million and you don't need the business.
--Remember that people buy things for their reasons and not for your reasons, so find out what their reasons are.
--"No" is an acceptable result of a sales call (provided you have qualified properly).
--Selling is no place to get your emotional needs met - get your emotional needs met from those who love you and support you.
Whetstone Group is a sales process improvement company that focuses on helping companies implement a proven sales process that will increase sales, shorten the selling cycle, increase closing rates, and improve margins. Learn more at www.whetstonegroup.com
Thursday, October 29, 2009
Assign Your Prospect Some Homework
Today the Whetstone Group is back with a sales problem and their diagnosis. You'll love what this tip can do for your sales - and how much fun it is to assign homework to people!
Problem: Mitch's company sold data storage solutions. A five-year veteran of selling, he called the other day for some coaching. He said that he had just completed a one-hour meeting with one of his top prospects, a large retailer who was a key prospect for his company. He explained that he had experienced difficulty getting the prospect into a discussion of pain and, when he finally did, he felt time pressure to hurry through the qualifying process. As a result, Mitch thought that he had done a poor job in the pain step. He said that this seemed typical of his meetings and that due to poor qualifying on his part, he was not closing some of the accounts that he thought he should.
Diagnosis: Unfortunately, Mitch lacked an effective way to quickly begin the pain qualification process. Without an effective tactic for getting quickly into the pain step, Mitch spent too much time building rapport and discussing inconsequential issues that only wasted both parties' time. While there were a number of tactics to find pain that Mitch had learned, none seemed to be working well for him.
Prescription: We told Mitch to add a new wrinkle to his initial meeting agreement. We suggested that he give his prospect some homework before the appointment. Mitch began saying the following to his prospects, "Mr. Prospect, in order to make our meeting as productive as possible, would you make a list of the two or three most challenging issues you are having with respect to data storage? Then we can really focus our discussion on your issues and try to develop a solution. Does that make sense?"
Interestingly enough, it did make sense to most of his prospects. When Mitch arrived at the appointment, he simply reminded the prospect about the list and asked what the issues were. From there, the pain conversation was easy to conduct. His got to the pain step quicker and was able to qualify in greater depth. He started closing more business because he understood the issues and was able to recommend better solutions.
Whetstone Group is a sales process improvement company that focuses on helping companies implement a proven sales process that will increase sales, shorten the selling cycle, increase closing rates, and improve margins. Learn more at www.whetstonegroup.com
Problem: Mitch's company sold data storage solutions. A five-year veteran of selling, he called the other day for some coaching. He said that he had just completed a one-hour meeting with one of his top prospects, a large retailer who was a key prospect for his company. He explained that he had experienced difficulty getting the prospect into a discussion of pain and, when he finally did, he felt time pressure to hurry through the qualifying process. As a result, Mitch thought that he had done a poor job in the pain step. He said that this seemed typical of his meetings and that due to poor qualifying on his part, he was not closing some of the accounts that he thought he should.
Diagnosis: Unfortunately, Mitch lacked an effective way to quickly begin the pain qualification process. Without an effective tactic for getting quickly into the pain step, Mitch spent too much time building rapport and discussing inconsequential issues that only wasted both parties' time. While there were a number of tactics to find pain that Mitch had learned, none seemed to be working well for him.
Prescription: We told Mitch to add a new wrinkle to his initial meeting agreement. We suggested that he give his prospect some homework before the appointment. Mitch began saying the following to his prospects, "Mr. Prospect, in order to make our meeting as productive as possible, would you make a list of the two or three most challenging issues you are having with respect to data storage? Then we can really focus our discussion on your issues and try to develop a solution. Does that make sense?"
Interestingly enough, it did make sense to most of his prospects. When Mitch arrived at the appointment, he simply reminded the prospect about the list and asked what the issues were. From there, the pain conversation was easy to conduct. His got to the pain step quicker and was able to qualify in greater depth. He started closing more business because he understood the issues and was able to recommend better solutions.
Whetstone Group is a sales process improvement company that focuses on helping companies implement a proven sales process that will increase sales, shorten the selling cycle, increase closing rates, and improve margins. Learn more at www.whetstonegroup.com
Tuesday, October 13, 2009
"What's a "No" Worth?"
Continuing my thoughts about time management from yesterday, I thought this article from The Whetstone Group was very appropriate. Today they identify salespeople’s biggest time waster - and what you can do to avoid it.
According to The Whetstone Group, the ubiquitous "I need some time to think this over. Call me in a week or so" is salespeople's biggest time waster. Salespeople still have a problem getting their prospects to make a decision when they make a presentation and that stems from the fact that they just hate to hear "no." So, they permit their prospects to drag them through the purgatory of alternating hope and despair, just because they don't have the intestinal fortitude to hear a "no."
So what should you do? Face the facts. You know that most "maybe's" are just slow "no's," so why not get the "no" in the first place. Get rid of your old head trash. You don't have to sell everybody. Ain't gonna happen. You and I both know that.
Let's look at the problems with "think it over's" and "maybe's." It takes forever to get a "no," which permits the prospect to steal your valuable time and employ his system at your expense. The slow "no" causes pipeline and forecasting problems (how much of your current forecast is wishful thinking?) It gives you a false sense of security, but when it becomes apparent that there will not be a deal, it's devastating.
Here are two suggestions to eliminate "think it over's." First, make sure at the end of the meeting you discuss that you'd like to talk about the next step, assuming you're both in agreement that the dialogue should continue, and that your prospect understands that he doesn't have to string you along just because he assumes you're not comfortable hearing "no." Finally, your attitude on every sales call should be: "my prospect must convince me that there is a reason for my continued involvement in the sales process." In other words, if you're having any doubts that there's a reason for the two of you to do business together, tell that to the prospect. Let him convince you that he really does have a problem and that you should stay involved.
So what's a "no" worth? Just the most valuable thing you possess: that irreplaceable asset, your time.
Whetstone Group is a sales process improvement company that focuses on helping companies implement a proven sales process that will increase sales, shorten the selling cycle, increase closing rates, and improve margins. Learn more at www.whetstonegroup.com
According to The Whetstone Group, the ubiquitous "I need some time to think this over. Call me in a week or so" is salespeople's biggest time waster. Salespeople still have a problem getting their prospects to make a decision when they make a presentation and that stems from the fact that they just hate to hear "no." So, they permit their prospects to drag them through the purgatory of alternating hope and despair, just because they don't have the intestinal fortitude to hear a "no."
So what should you do? Face the facts. You know that most "maybe's" are just slow "no's," so why not get the "no" in the first place. Get rid of your old head trash. You don't have to sell everybody. Ain't gonna happen. You and I both know that.
Let's look at the problems with "think it over's" and "maybe's." It takes forever to get a "no," which permits the prospect to steal your valuable time and employ his system at your expense. The slow "no" causes pipeline and forecasting problems (how much of your current forecast is wishful thinking?) It gives you a false sense of security, but when it becomes apparent that there will not be a deal, it's devastating.
Here are two suggestions to eliminate "think it over's." First, make sure at the end of the meeting you discuss that you'd like to talk about the next step, assuming you're both in agreement that the dialogue should continue, and that your prospect understands that he doesn't have to string you along just because he assumes you're not comfortable hearing "no." Finally, your attitude on every sales call should be: "my prospect must convince me that there is a reason for my continued involvement in the sales process." In other words, if you're having any doubts that there's a reason for the two of you to do business together, tell that to the prospect. Let him convince you that he really does have a problem and that you should stay involved.
So what's a "no" worth? Just the most valuable thing you possess: that irreplaceable asset, your time.
Whetstone Group is a sales process improvement company that focuses on helping companies implement a proven sales process that will increase sales, shorten the selling cycle, increase closing rates, and improve margins. Learn more at www.whetstonegroup.com
Friday, September 25, 2009
Doctor's Orders! Get Better Sales Results from Being Different
I've always liked the Whetstone Group newsletter - they give sales advice in the doctor-preferred format of problem, diagnosis, and prescription. It's fun - especially since it feels like some situations actually require a sales doctor! Here's their latest patient, and their prescription for a full recovery.
Problem: Kim, a ten-year sales veteran, never felt like she was in control of her sales calls. She felt like her prospects and customers were always one step ahead of her. She attended many training sessions and they all basically taught her the same thing: always ask for the order, use the same 2-3 foolproof ways to overcome the price objection, lead with, "If I could show you a way to fix that problem, would you buy my product?" She felt these tactics must be effective since all the trainers taught the same approaches. Why weren't they working for her?
Diagnosis: Salespeople tend to be rather predictable and, as a result, buyers generally are in charge. They recognize the salesperson's approaches and have developed effective ways to deal with those approaches. To illustrate this point, have you ever been doing something on "autopilot" such as driving a car? You get too close to the car in front and you apply the brakes. In a dangerous situation you honk the horn to warn another driver. Neither activity requires you to stop and think. You're definitely not saying to yourself, "What should I do here? Oh yeah, let's honk the horn, that's a good idea." By then it's too late anyway. You just do it. That's autopilot. That's how we react instinctively to a situation. Dealing with salespeople is a familiar situation to everyone and we all go on autopilot when we're face to face with a salesperson. In effect, salespeople build their own roadblocks by being so predictable.
Prescription: Don't act like the typical salesperson. Do the unexpected. Try different things to keep your prospect off autopilot. Here are a few examples:
--Let your prospect know, "It's okay to say "no" if we don't have a fit."
--Don't jump on every "buying signal" you hear and try to close. Instead, use a well-placed easy exit or takeaway to get the prospect to sell himself, "Really, I had no idea the impact was that significant."
--Do your best Colombo routine, "I'm kind of confused, can you help me understand why that's so important to the company?"
You get the idea. Be different. Your sales results will be different, too. They'll be better.
Whetstone Group is a sales process improvement company that focuses on helping companies implement a proven sales process that will increase sales, shorten the selling cycle, increase closing rates, and improve margins. Learn more at www.whetstonegroup.com
Problem: Kim, a ten-year sales veteran, never felt like she was in control of her sales calls. She felt like her prospects and customers were always one step ahead of her. She attended many training sessions and they all basically taught her the same thing: always ask for the order, use the same 2-3 foolproof ways to overcome the price objection, lead with, "If I could show you a way to fix that problem, would you buy my product?" She felt these tactics must be effective since all the trainers taught the same approaches. Why weren't they working for her?
Diagnosis: Salespeople tend to be rather predictable and, as a result, buyers generally are in charge. They recognize the salesperson's approaches and have developed effective ways to deal with those approaches. To illustrate this point, have you ever been doing something on "autopilot" such as driving a car? You get too close to the car in front and you apply the brakes. In a dangerous situation you honk the horn to warn another driver. Neither activity requires you to stop and think. You're definitely not saying to yourself, "What should I do here? Oh yeah, let's honk the horn, that's a good idea." By then it's too late anyway. You just do it. That's autopilot. That's how we react instinctively to a situation. Dealing with salespeople is a familiar situation to everyone and we all go on autopilot when we're face to face with a salesperson. In effect, salespeople build their own roadblocks by being so predictable.
Prescription: Don't act like the typical salesperson. Do the unexpected. Try different things to keep your prospect off autopilot. Here are a few examples:
--Let your prospect know, "It's okay to say "no" if we don't have a fit."
--Don't jump on every "buying signal" you hear and try to close. Instead, use a well-placed easy exit or takeaway to get the prospect to sell himself, "Really, I had no idea the impact was that significant."
--Do your best Colombo routine, "I'm kind of confused, can you help me understand why that's so important to the company?"
You get the idea. Be different. Your sales results will be different, too. They'll be better.
Whetstone Group is a sales process improvement company that focuses on helping companies implement a proven sales process that will increase sales, shorten the selling cycle, increase closing rates, and improve margins. Learn more at www.whetstonegroup.com
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