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
Thursday, September 30, 2010
Wednesday, September 29, 2010
This Is Certain to Cause Early Resistance
Art Sobczak has a great way of sharing sales advice so that it's easy to understand and apply to your selling process. You'll love his advice on how o avoid causing resistance early on in the sales process.
A stranger approaches you on the street and asks for some money.
A person wielding a clipboard (or an IPad) jumps in front of you as you're walking down the shopping mall and asks if you can take 10 minutes for a survey.
A woman at a bar is approached by a man she doesn't know, who asks, "Do you want to have a relationship?"
What were YOU feeling as you read each of those? Discomfort. Resistance. Maybe skin-crawling creepiness in the last example.
Why? Because an unknown someone blindsided the target out of nowhere, asking for something without giving a reason for doing so. Therefore the natural reaction is to backpedal.
Let's look at other examples:
A sales rep calls a prospect he has never spoken with before and in the opening says "...I'm with ABC company and I'd like to set up a time to meet with you to ..."
Or,
"...I'd like to discuss what it would take to do business together..."
Or,
"...I'd like to invite you to a webinar..."
Those are all similar to the previous examples. A sales rep who is unfamiliar to his/her prospect asks for, or implies that he/she wants something from the prospect, without giving any reason why. There is nothing in it for the listener.
Of course, then, the result is similar to the previous examples: resistance.
Yet, those sales-related examples are still widely used, and I'm assuming, taught by someone--or by many. That blows me away.
often in sales, sadly, common sense is trumped by nonsense that has been passed along, for no other reason than someone had heard it or read it somewhere.
So what should you do?
Keep in mind, your calls need to be about them, not YOU. You need to have something FOR them, not give the feeling that you want to take something FROM them. You want to minimize your chance for resistance.
Here's a simple opening template based on my Smart Calling system:
1. Identify yourself and company.
2. Mention what you know about them based on your research.
3. Hint at your Possible Value Proposition.
4. Add more possible value, and move to the interaction.
For example,
"Hi Pat, I'm Dale Stevens with Atlantic Associates. In speaking with Jolene in your marketing department, I understand that one of your initiatives for 2001 is strengthening the communication and collaboration between your account management and production departments, so you can increase your customer retention rate and order frequency. With another components manufacturer we were able to help them do exactly that and raise their retention by 55% in six months, and reorder rate by 34%. I'd like to ask a few questions to see if I could provide you with some information."
Remember, it's about THEM, not you. The first part of the call is not about throwing the long bomb at the first opportunity. Give them a reason to move forward with the call, engage them, ask questions, and you'll find your calls progressing more smoothly.
Art Sobczak helps sales pros use the phone to prospect, service and sell more effectively, while eliminating morale-killing rejection. To get FREE weekly emailed TelE-Sales Tips visit: www.BusinessByPhone.com
A stranger approaches you on the street and asks for some money.
A person wielding a clipboard (or an IPad) jumps in front of you as you're walking down the shopping mall and asks if you can take 10 minutes for a survey.
A woman at a bar is approached by a man she doesn't know, who asks, "Do you want to have a relationship?"
What were YOU feeling as you read each of those? Discomfort. Resistance. Maybe skin-crawling creepiness in the last example.
Why? Because an unknown someone blindsided the target out of nowhere, asking for something without giving a reason for doing so. Therefore the natural reaction is to backpedal.
Let's look at other examples:
A sales rep calls a prospect he has never spoken with before and in the opening says "...I'm with ABC company and I'd like to set up a time to meet with you to ..."
Or,
"...I'd like to discuss what it would take to do business together..."
Or,
"...I'd like to invite you to a webinar..."
Those are all similar to the previous examples. A sales rep who is unfamiliar to his/her prospect asks for, or implies that he/she wants something from the prospect, without giving any reason why. There is nothing in it for the listener.
Of course, then, the result is similar to the previous examples: resistance.
Yet, those sales-related examples are still widely used, and I'm assuming, taught by someone--or by many. That blows me away.
often in sales, sadly, common sense is trumped by nonsense that has been passed along, for no other reason than someone had heard it or read it somewhere.
So what should you do?
Keep in mind, your calls need to be about them, not YOU. You need to have something FOR them, not give the feeling that you want to take something FROM them. You want to minimize your chance for resistance.
Here's a simple opening template based on my Smart Calling system:
1. Identify yourself and company.
2. Mention what you know about them based on your research.
3. Hint at your Possible Value Proposition.
4. Add more possible value, and move to the interaction.
For example,
"Hi Pat, I'm Dale Stevens with Atlantic Associates. In speaking with Jolene in your marketing department, I understand that one of your initiatives for 2001 is strengthening the communication and collaboration between your account management and production departments, so you can increase your customer retention rate and order frequency. With another components manufacturer we were able to help them do exactly that and raise their retention by 55% in six months, and reorder rate by 34%. I'd like to ask a few questions to see if I could provide you with some information."
Remember, it's about THEM, not you. The first part of the call is not about throwing the long bomb at the first opportunity. Give them a reason to move forward with the call, engage them, ask questions, and you'll find your calls progressing more smoothly.
Art Sobczak helps sales pros use the phone to prospect, service and sell more effectively, while eliminating morale-killing rejection. To get FREE weekly emailed TelE-Sales Tips visit: www.BusinessByPhone.com
Tuesday, September 28, 2010
Make Use of Metaphors to Make the Sale
Anne Miller has a way with words - specifically, metaphors. She uses them daily in her business, and today explains how you can too! Read on, and then take a look at her new book for more information.
In a world drowning in information, no one should lead, sell, or influence others without a command of metaphors – images created with words. Metaphors work because we humans are wired to respond instantly to images more than we are to information.
For example,
-When asked by an interviewer why he should be hired to sell, Cliff C., now Senior Account Executive at a leading recruitment firm, replied, "I'm just like Rocky. You knock me over and I come right back for more." Determination, persistence and energy--everything a sales manager wants in a new hire, expressed metaphorically to win a job.
-When presenting the features of her magazine's audience to a media planner, one sales rep gets her publication's readership remembered every time when she says, "Our publication reaches one million buyers for your product – that's ten Super Bowls full of potential customers for you." –a familiar image used to illustrate the significant buying power of her audience.
When to Use a Metaphor?
You are limited only by your imagination...
1. Clients confused by how your solution fits their situation? Un-confuse them with a metaphor.
2. Need to inspire a group to gain support for your ideas? Win them over with a metaphor.
3. Facing a tough objection? Neutralize it with a metaphor.
4. Selling technically complex services or products? Simplify them with a metaphor.
5. Need to close a client who is wavering on a decision? Move him to take action with a metaphor.
6. Caught in a sensitive situation with a client? Calm him down with a metaphor.
7. Need to distinguish yourself or your firm from the competition? Paint an unforgettable picture of yourself and your firm in the mind of your client with a metaphor.
Metaphor is the invaluable tool of sales rain-makers. Don't leave home without one.
Based on the new book "Make What You Say Pay!" by sales and presentations specialist Anne Miller. For a free two chapter download, go to: www.makewhatyousaypay.com
In a world drowning in information, no one should lead, sell, or influence others without a command of metaphors – images created with words. Metaphors work because we humans are wired to respond instantly to images more than we are to information.
For example,
-When asked by an interviewer why he should be hired to sell, Cliff C., now Senior Account Executive at a leading recruitment firm, replied, "I'm just like Rocky. You knock me over and I come right back for more." Determination, persistence and energy--everything a sales manager wants in a new hire, expressed metaphorically to win a job.
-When presenting the features of her magazine's audience to a media planner, one sales rep gets her publication's readership remembered every time when she says, "Our publication reaches one million buyers for your product – that's ten Super Bowls full of potential customers for you." –a familiar image used to illustrate the significant buying power of her audience.
When to Use a Metaphor?
You are limited only by your imagination...
1. Clients confused by how your solution fits their situation? Un-confuse them with a metaphor.
2. Need to inspire a group to gain support for your ideas? Win them over with a metaphor.
3. Facing a tough objection? Neutralize it with a metaphor.
4. Selling technically complex services or products? Simplify them with a metaphor.
5. Need to close a client who is wavering on a decision? Move him to take action with a metaphor.
6. Caught in a sensitive situation with a client? Calm him down with a metaphor.
7. Need to distinguish yourself or your firm from the competition? Paint an unforgettable picture of yourself and your firm in the mind of your client with a metaphor.
Metaphor is the invaluable tool of sales rain-makers. Don't leave home without one.
Based on the new book "Make What You Say Pay!" by sales and presentations specialist Anne Miller. For a free two chapter download, go to: www.makewhatyousaypay.com
Monday, September 27, 2010
Quote of the Week
"It is literally true that you can succeed best and quickest by helping others to succeed." -- Napolean Hill, author
The business world can be a lonely place - after all, everyone is out to do the best for themselves, and the thought of generally helping others is not often looked at as the best way to build your business and make more money. While not generally true, I agree with the quote above - if you make helping others succeed one of your priorities, and a point of your business, people will see you as someone they should help in turn.
So give referrals freely, even if they are to your competitor. Make calls on a person's behalf, talk someone up, or take someone out to lunch just to hear how they're doing and offer any advice you can. People will respect you, and in turn, help you to succeed as well.
What do you think? Do you have experience with this? Let us know in the comments!
The business world can be a lonely place - after all, everyone is out to do the best for themselves, and the thought of generally helping others is not often looked at as the best way to build your business and make more money. While not generally true, I agree with the quote above - if you make helping others succeed one of your priorities, and a point of your business, people will see you as someone they should help in turn.
So give referrals freely, even if they are to your competitor. Make calls on a person's behalf, talk someone up, or take someone out to lunch just to hear how they're doing and offer any advice you can. People will respect you, and in turn, help you to succeed as well.
What do you think? Do you have experience with this? Let us know in the comments!
Friday, September 24, 2010
A Few More Compelling Reasons Why You Should Be Politely Persistent and Follow Up With Your Prospects
I liked sales trainer Jim Domanski's follow-up reasons so much, I thought we should end our week with just a few more! If this list doesn't convince you of the importance of persistent follow-up, I'm not sure what will. Just take my advice - be convinced, and see your sales soar!
1. Your prospect has put the project on the back burner or has gone with another vendor and you need to find out to have closure and stop fretting
2. Your prospect figures the ball is in your court and is wondering why YOU haven't made a further follow up.
3. You did not include a signature file with your contact information on it - and the client did not have it handy to make a quick call back
4. Your voice mail (and phone number) was delivered so rapid fire or slurred that the prospect gave up trying to decipher it
5. You accidentally sent your e-mail NOT to Brian Basanda but to Brian Adams when you used your Contact info in Outlook
6. Most of the other vendors calling your prospect fail to follow up ... which gives you the competitive edge
7. Your contact may have a gatekeeper who erased your message
8. Your prospect has a wicked sense of humor and is waiting to see how many times you will call
9.Your voice mail script needs a re-write; it simply lacked 'umph'
10. This could be the deal of your career - you'll never know unless you call
11. Your prospect deleted you e-mail on their Blackberry by accident and there's no "undo" feature
12. A poor, hungry and driven competitor will make the persistent follow up call that you didn't make ...and will get the business you should have got.
13.What do you have to lose?
14.What do you have to win?
So there you have it: Between yesterday and today, 28 compelling reasons to pick up that phone and make a few follow up calls. Print this list on a bright yellow sheet of paper. Post it at your desk and refer to it whenever you hesitate about making that follow up call. Do it now. And close more sales!
By Jim Domanski of Teleconcepts Consulting. Please visit Jim's web site at www.teleconceptsconsulting.com for additional articles and resources for tele-sales professionals.
1. Your prospect has put the project on the back burner or has gone with another vendor and you need to find out to have closure and stop fretting
2. Your prospect figures the ball is in your court and is wondering why YOU haven't made a further follow up.
3. You did not include a signature file with your contact information on it - and the client did not have it handy to make a quick call back
4. Your voice mail (and phone number) was delivered so rapid fire or slurred that the prospect gave up trying to decipher it
5. You accidentally sent your e-mail NOT to Brian Basanda but to Brian Adams when you used your Contact info in Outlook
6. Most of the other vendors calling your prospect fail to follow up ... which gives you the competitive edge
7. Your contact may have a gatekeeper who erased your message
8. Your prospect has a wicked sense of humor and is waiting to see how many times you will call
9.Your voice mail script needs a re-write; it simply lacked 'umph'
10. This could be the deal of your career - you'll never know unless you call
11. Your prospect deleted you e-mail on their Blackberry by accident and there's no "undo" feature
12. A poor, hungry and driven competitor will make the persistent follow up call that you didn't make ...and will get the business you should have got.
13.What do you have to lose?
14.What do you have to win?
So there you have it: Between yesterday and today, 28 compelling reasons to pick up that phone and make a few follow up calls. Print this list on a bright yellow sheet of paper. Post it at your desk and refer to it whenever you hesitate about making that follow up call. Do it now. And close more sales!
By Jim Domanski of Teleconcepts Consulting. Please visit Jim's web site at www.teleconceptsconsulting.com for additional articles and resources for tele-sales professionals.
Thursday, September 23, 2010
Compelling Reasons Why You Should Be Politely Persistent and Follow Up With Your Prospects
Do you make phone calls and then sit wondering why no one calls you back? You may think you're being nice by not bothering your prospect, but not following up can seriously kill your sales. Need more inspiration to get back on the phone and try again? Today sales trainer Jim Domanski shares some very compelling reasons as to why you need to be persistent and follow up!
Has this ever happened to you?
You've made the call. You generate interest. Maybe you send a proposal or quote. You make a follow up call and leave a message and wait for reply. And wait...Maybe you make another follow up...no reply.
In a short while you are convinced the client was stringing you along. Frustration sets in. Anxiety. Uncertainty. 'Do I call again? Won't I look like I am stalking? He's not interested. If he were, he would have called right. Why waste my time? Forget about it. Let's move on."
This negative self-talk is repeated every day, every week by hundreds of reps. It gets easy to convince yourself not to make that extra follow up call.
The trouble is there can be any number of reasons why the prospect has yet to get back to you. You should follow up because:
1. The squeaky wheel often gets the oil
2. The contact lost your number
3. The contact inadvertently deleted your voice mail message
4. The prospect/client simply forgot to call you back
5. Your e-mail was sent to their SPAM folder and never seen
6. Your e-mail was lost "in space" and never made it to the client.
7. Your e-mail was lost, misplaced or forgotten in a pile of other e-mails received
8. Your client is swamped with work and has been too busy to call
9. The contact is putting out a major fire and her priorities, for the moment, have changed
10. Your prospect inverted a number or two when copying down your phone number and was not able to reach you
11. The client or prospect expects YOU to follow up and keep them on track
12. Your prospect or client is grotesquely disorganized and needs someone to keep them on track
13. Your contact figures if YOU don't show interest in following up, you and your product can't be all that important
14. Your prospect has had a minor delay and needs to someone (you) to get them on track
So what are you waiting for? Get back on the phone!
By Jim Domanski of Teleconcepts Consulting. Please visit Jim's web site at www.teleconceptsconsulting.com for additional articles and resources for tele-sales professionals.
Has this ever happened to you?
You've made the call. You generate interest. Maybe you send a proposal or quote. You make a follow up call and leave a message and wait for reply. And wait...Maybe you make another follow up...no reply.
In a short while you are convinced the client was stringing you along. Frustration sets in. Anxiety. Uncertainty. 'Do I call again? Won't I look like I am stalking? He's not interested. If he were, he would have called right. Why waste my time? Forget about it. Let's move on."
This negative self-talk is repeated every day, every week by hundreds of reps. It gets easy to convince yourself not to make that extra follow up call.
The trouble is there can be any number of reasons why the prospect has yet to get back to you. You should follow up because:
1. The squeaky wheel often gets the oil
2. The contact lost your number
3. The contact inadvertently deleted your voice mail message
4. The prospect/client simply forgot to call you back
5. Your e-mail was sent to their SPAM folder and never seen
6. Your e-mail was lost "in space" and never made it to the client.
7. Your e-mail was lost, misplaced or forgotten in a pile of other e-mails received
8. Your client is swamped with work and has been too busy to call
9. The contact is putting out a major fire and her priorities, for the moment, have changed
10. Your prospect inverted a number or two when copying down your phone number and was not able to reach you
11. The client or prospect expects YOU to follow up and keep them on track
12. Your prospect or client is grotesquely disorganized and needs someone to keep them on track
13. Your contact figures if YOU don't show interest in following up, you and your product can't be all that important
14. Your prospect has had a minor delay and needs to someone (you) to get them on track
So what are you waiting for? Get back on the phone!
By Jim Domanski of Teleconcepts Consulting. Please visit Jim's web site at www.teleconceptsconsulting.com for additional articles and resources for tele-sales professionals.
Wednesday, September 22, 2010
Are You Struggling to Make Appointments with Prospects?
The first part of the sales process often takes place over the phone - and this makes it easy for lots of mistakes or misunderstandings to derail your sales. Today sales trainer Jim Klein shares some prospecting tips that will help you stay strong on the phone - so you can get that meeting and make the sale!
Prospecting Tip #1: Prospect Daily
Sales prospecting is like eating. If you don't do it every day you'll die. With prospecting you won't actually cease to exist, however, your business will.
Professional salespeople prospect every day. It's important to block off specific times on your calendar for prospecting activities such as phone calling and mailing.
Treat your prospecting time the same way you would any other appointment, otherwise it will never get done.
Get focused on your prospecting activities by closing your office door and having messages taken for incoming calls until your prospecting time is up. I've found the best time to prospect is first thing in the morning. You're fresh and it gets the most important task in the sales process done first.
Prospecting Tip #2: Become a Specialist
This is the age of specialization. People want to do business with people who specialize in their particular problem. You wouldn't go to a foot doctor to have a heart bypass. And you wouldn't go to a criminal lawyer if you need to set up a corporation.
What is your specialty? Find one and use it in all your prospecting activities. If you don't know what it is ask your past and current clients why they bought from you. They'll give you some insight in to your specialty.
Then use it in all your promotional pieces. Advertise it every where. Put it on your business card. Use it to attract the kind of prospects you're looking to work with.
Prospecting Tip #3: Use a Script
Don't sell 'from the hip'. There's only one thing worse than listening to a salesperson read a script over the phone and that's listening to one without a script. It's important to not only have a script but to practice it until it flows from your lips.
You should know the script word for word without reading it. Don't read it when you're talking to a prospect, however, keep it in front of you to refer back to when you get off the track. Keep refining and making your script better and more powerful. After all it is the life blood of your sales business.
Prospecting Tip #4: Sell the Benefits of Meeting With You
Many salespeople want to tell the prospect how great their company is or how great they are. People don't care about you. People want to know what's in it for them. So make sure you include in your script the benefits the prospect will gain by meeting with you personally.
Make a list of the features of your product or service and then list the benefits of each of those features. If you need some help with this your past and current clients can be a great help. The best way to get the appointment is to show them the benefits they will receive by meeting with you.
Prospecting Tip #5: Don't Try to Sell Over the Phone
The purpose of prospecting is to get face to face with the prospect so you can qualify them and sell them your product or service. That's all. Don't try to sell your product or service over the phone. The main focus of sales prospecting is to sell the appointment, so concentrate on that outcome.
I know there are salespeople who are only selling over the phone, however, that's a subject for a different article.
Using these prospecting tips can send you on your way to having a calendar filled with appointments that lead to sales. Ignoring these sales tips can leave you with a lot more time to prospect. The choice is yours.
Jim Klein helps sales people fine tune the sales process so they can confidently close more sales and create long term relationships. Get free sales training by subscribing to our free newsletter "The Sales Advisor".
Prospecting Tip #1: Prospect Daily
Sales prospecting is like eating. If you don't do it every day you'll die. With prospecting you won't actually cease to exist, however, your business will.
Professional salespeople prospect every day. It's important to block off specific times on your calendar for prospecting activities such as phone calling and mailing.
Treat your prospecting time the same way you would any other appointment, otherwise it will never get done.
Get focused on your prospecting activities by closing your office door and having messages taken for incoming calls until your prospecting time is up. I've found the best time to prospect is first thing in the morning. You're fresh and it gets the most important task in the sales process done first.
Prospecting Tip #2: Become a Specialist
This is the age of specialization. People want to do business with people who specialize in their particular problem. You wouldn't go to a foot doctor to have a heart bypass. And you wouldn't go to a criminal lawyer if you need to set up a corporation.
What is your specialty? Find one and use it in all your prospecting activities. If you don't know what it is ask your past and current clients why they bought from you. They'll give you some insight in to your specialty.
Then use it in all your promotional pieces. Advertise it every where. Put it on your business card. Use it to attract the kind of prospects you're looking to work with.
Prospecting Tip #3: Use a Script
Don't sell 'from the hip'. There's only one thing worse than listening to a salesperson read a script over the phone and that's listening to one without a script. It's important to not only have a script but to practice it until it flows from your lips.
You should know the script word for word without reading it. Don't read it when you're talking to a prospect, however, keep it in front of you to refer back to when you get off the track. Keep refining and making your script better and more powerful. After all it is the life blood of your sales business.
Prospecting Tip #4: Sell the Benefits of Meeting With You
Many salespeople want to tell the prospect how great their company is or how great they are. People don't care about you. People want to know what's in it for them. So make sure you include in your script the benefits the prospect will gain by meeting with you personally.
Make a list of the features of your product or service and then list the benefits of each of those features. If you need some help with this your past and current clients can be a great help. The best way to get the appointment is to show them the benefits they will receive by meeting with you.
Prospecting Tip #5: Don't Try to Sell Over the Phone
The purpose of prospecting is to get face to face with the prospect so you can qualify them and sell them your product or service. That's all. Don't try to sell your product or service over the phone. The main focus of sales prospecting is to sell the appointment, so concentrate on that outcome.
I know there are salespeople who are only selling over the phone, however, that's a subject for a different article.
Using these prospecting tips can send you on your way to having a calendar filled with appointments that lead to sales. Ignoring these sales tips can leave you with a lot more time to prospect. The choice is yours.
Jim Klein helps sales people fine tune the sales process so they can confidently close more sales and create long term relationships. Get free sales training by subscribing to our free newsletter "The Sales Advisor".
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