March 18, 2011 10:42 AM

WHY SALES PRESENTATIONS ARE OVERRATED

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Unselling What You Just Sold

By Mark Hunter

I’ll never forget the first time it happened to me. The presentation with the customer was going well. I had prepared extensively. In fact, I had not just spent more time than normal, I had stayed up nearly all night to make sure I had every element covered perfectly in my presentation. For me, this sales call was going to be a huge success. My boss had told me this was going to be a difficult quarter, and that’s all I needed to hear to motivate me to close this particular sale.

The customer I was meeting with was tough. In fact, using the word “customer” was simply too nice. This customer was the ultimate professional buyer who would routinely drive salespeople crazy with questions, bold accusations and flat out rejection.

For this sales call, I was prepared. The program I was presenting to him that day included a new item that I knew in the back of my mind he didn’t need and would most likely flat out reject with some very colorful language. Shortly into my presentation, I noticed him giving me a high level of attention and agreeing with what I was saying. Before I was even half way through my presentation, he said he wanted what I was selling.

To say I was shocked would be an understatement. I couldn’t believe it! I began to wonder if he knew what he had just agreed to. Yes, he did know and yes he said again he would take it. At this point, we all know as a salesperson that it is wise to take the sale and leave. Yet, I was a bit hurt. Remember, I had spent nearly the entire night preparing an incredible presentation, and suddenly more than half of it was never going to see the light of day. My ego took control and I felt that if I had spent hours preparing it, he was going to hear it, so I continued on.

Go ahead and say it – BIG mistake! You’re right – it was a big mistake. The more I continued on with the presentation, the more the buyer was becoming upset; however, he was not upset enough to throw me out without the order. He listened, and honestly, I’m still not sure why. That’s when I made the final mistake. I shared with him some information that I never should have had in my presentation, and suddenly he began asking me questions. It’s not hard to imagine what happened next, as he decided not only to NOT buy what I was selling, he also went into a tirade about how I and the company I worked for didn’t know what we were doing.

My mistake was very basic. I kept talking after the buying signal was given and in so doing, I lost the order and I lost credibility. The reason I’m sharing this is not to say this has happened to me only once in my more than 25 years of selling. I’m sharing it because it’s one of many situations where I’ve unsold something. It’s just that on this particular occasion I saw it coming like a slow-moving train and still didn’t do anything to get out of the way.

When the buyer gives a buying signal, close the sale and leave. It’s simple, yet we as salespeople allow our egos and our pride to get in the way. Let me share two rules I have regarding sales presentations. They’re not complicated rules, but many times are overlooked.

Rule 1: Close the sale as early in the call as you possibly can.The only exception is if the price or quantity the customer wants is not within the range of your objectives. If the buyer’s requests are in your range of expectations, then get the order.

Rule 2: Close the sale before you run out of presentation. I tell salespeople with whom I am working that the measure of success is to not have to go through your entire presentation to close a sale. This rule is extremely important. You always want to have information and questions you can share with the customer. I like to view it as always having a “back pocket” presentation – information I can share with a customer, but only if it is necessary.

This gives me more flexibility and helps me close the sale earlier. My ego is saved and the buyer is not subjected to information they don’t necessarily want to hear. Final benefit of keeping some of your presentation in your back pocket is it subconsciously gives you confidence and determination. You will have confidence in knowing you have more information if you need it, and you will have determination to close the sale with the initial round of information and questions.

It seems crazy that a salesperson could unsell what they have already sold, but it can happen. Do whatever you can to make sure it doesn’t happen to you.

If you’re wondering what happened to me and my relationship with the customer, here’s the epilogue: He never did take the new item, and although he did continue to work with me on other activities, I never did get our relationship back to the level it was before my mistake

SALES SUCCESS STORE: NEGOTIATION TRAINING PROGRAMS AND PRODUCTS

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March 15, 2011 11:57 AM

MYSTIFICATION IS NOT A VALID SALES TECHNIQUE

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Why Buyers Don’t Like Salespeople

By Mark Hunter

If buyers could get by without salespeople, do you think they would? It is an interesting question if you stop and consider the role of the salesperson.

Of course, considering the role in an abstract way is one thing, but what about when you consider it from a personal perspective?

What happens as a salesperson when you put your emotions aside for a moment, relax, take a deep breath and honestly ask yourself, “What role do I play with my buyers?”

When I ask salespeople what value they bring to their buyers, I usually get a typical answer that is full of a lot of smoke puffery. When I ask this question of buyers, and in particular professional buyers, I get an entirely different answer.

For professional buyers who see a wide variety of salespeople, the value they place on them is usually very minimal. Are you wondering why?

There’s one simple reason that can sum it all up: Most salespeople bring to their buyers only information. Interestingly, information is something any buyer can gather from other sources.

At the end of the day, you as a salesperson must ask yourself, “Am I merely a conduit of information?” If you are, then you’re wasting your time, your company’s time, and your customer’s time. You might as well just email your buyer the information and then go play golf.

If you can’t as a salesperson honestly lay claim to problems you’ve helped your customers overcome, then you really have to begin questioning the role you play.

Yes, I’m being quite harsh, but with the advent of technology and communication, the role of the salesperson has changed. If you as a salesperson have not recognized and embraced this change, then you are nothing more than the walking dead.

Buyers don’t want people who bring them nothing more than information. They want solutions. Unfortunately, because buyers often have far too much to do, they don’t even know what their problems are or what challenges their company is facing.

This is the role the salesperson needs to play — the role of helping identify the problems, whether blatant or obscure, and turning them into opportunities you can solve for the customer.

So how do you go about identifying problems? You as the salesperson must become an investigator – someone who is determined to find out what really is happening in an organization, industry and global marketplace. Then, you need to show your customer how what you found is impacting them now or will be impacting them in the future.

Start this process by shifting your focus. Instead of just delivering information to your customer, begin to ask more questions. A very simple rule I tell salespeople is for every minute you spend gathering information to share with a customer, you need to spend an equal amount of time developing questions to ask that customer.

Don’t develop questions for which you already have the answers or could easily find the answers. In fact, those are the wrong type of questions.

Instead, you need to develop questions to which you don’t have answers. More than likely, these will be questions to which your buyer doesn’t have answers either. By asking these questions, you’re helping move the buyer to viewing you differently.

Your role is to be seen as the one salesperson who is genuinely committed to helping them move themselves and their company to a higher level. This may be by growing their sales or helping them reduce their costs.

When you can clearly identify ways you’ve helped your buyer achieve either of these outcomes, then you will know you’re no longer the type of salesperson that buyers love to hate. Plus, you’ll be growing your bottom line at the same time. And that’s a lot better than simply doling out information!

SALES SUCCESS STORE: NEGOTIATION TRAINING PROGRAMS AND PRODUCTS

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March 13, 2011 11:42 AM

CONTROL THE SALES PROCESS: THAT’S THE SECRET

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Taking Control of Every Sales Relationship so You are Closing on Every Conversation!

By Colleen Francis

It has often been said that among the many musical talents of renowned jazz trumpeter Dizzy Gillespie was his skill for blending harmony with the unexpected. He himself summed it up best by saying: “It’s taken me all my life to learn what not to play.”

Dizzy knew it was never enough to just give an audience what they thought they wanted. He recognized, as is the case with most professionals, that there needs to a discipline to what you do.

People tend to be motivated and moved best when you take the lead, with the occasional surprise thrown in for good measure.

This is a way of thinking that’s not just limited to jazz musicianship. There’s a lot of insight in there that applies just as much to sales. After all, both involve connecting with people and only those who hone a mastery of their craft are truly successful.

Whether you are a business owner or part of a sales team for a medium or large-sized company, your performance as a salesperson is determined by how often you successfully close sales—sealing the deal that translates goods or services into revenue.

To close more business effectively, you must be the one who is controlling and directing the customer through each step of a sales process. Don’t expect the customer to know what to do next. Most people are commitment-phobic. They’re not going to make a decision until they are presented with options.

Have you ever faced a situation where you follow up with a customer after several months, only to be told that they have just finished negotiations with a different vendor? It’s frustrating and yet it’s entirely preventable.

By waiting so long to follow up, you may have been doing what you assumed the customer wanted. However, this does nothing to help position you where you need to be for when that customer is ready to buy.

Stay in control of your sales process by adopting a strategy that gets your customers to commit to a series of steps—and to stick to it.

In my sales coaching sessions, my advice is that you need to be following up with each of your customers at a minimum of every 30 days in some way. It doesn’t necessarily have to be by phone, but you need to be doing something to stay in that top-of-mind position.

Plan and backup…

Before you engage any customer in a conversation, you need to have planned on how you’re going to close more business with that person. You also need to have a backup plan.

For example, if you can’t meet your primary objective—to get a commitment to meet with a decision maker in your client’s firm, for instance—-your backup can be to get the name and contact information of that decision-maker.

Know what’s next…

If your best efforts don’t result in closing a deal with a customer, you need to decide what is going to happen next. It’s not enough to simply agree to talk again later. When will you talk again? Be specific. Your goal needs to include setting a date, and a well-defined set of next steps.

Those who have attended one of our Engage Sales Mastery Workshops have seen me map out a series of possible next steps in great detail. In this article, however, let me give you a glimpse of what we cover. When attempting to close a sale, your customer can choose to say “Yes,” “No” or “Maybe.” If they say “No,” find out why. Is it because there are no projects going on? Is it because they have chosen another supplier? Is it simply the wrong time for a new project? The answers you receive to those questions will give you something to build on for your follow-up strategy.

Apply the same approach when the answer is “Maybe.” If, for example, a customer says: “We are not doing anything until the end of the fourth quarter of this year, call me back in December,” you would respond by asking some probing questions. “I’d be happy to call you in December…is that when you expect to have your project ready to go, or will that just be when you’re ready to start investigating a possible start to the project?” Similarly, if the customer says: “what you’re proposing sound like a great idea, but we really just don’t have the budget yet,” you can respond by asking: “when is your budgeting process starting?” The answers you obtain give you added insight on formulating your next steps with each customer.

Use the right tools to help keep you on track…

Keeping track of every conversation and every commitment you make to pursue next steps in sales…these are not the kinds of things you can simply commit to memory. This is why a customer relationship management database (or CRM) is absolutely vital.

It could be as simple as a PC-based ACT! database, as intuitive as Daylite for Mac, or as substantial as a Salesforce.com account. No matter which one best suits your needs, a CRM is a wise investment. It’s far from being an administrative nuisance. Think of it as an extension of your brain.

It remembers all the commitments you make and the people you talk to, and it doesn’t get sidetracked the way all of us do in our day-to-day lives. Deals get lost too easily by simply forgetting to make a note to follow-up with a prospect. Don’t take that risk! Rely on your CRM instead.

Give your customer the opportunity to do the closing…

Do the unexpected! One of my favorite ways of doing this is by asking the following question: “What do you want to do next?” It’s a great closing question because it will tell you right away whether or not your customer is ready to move forward.

In cases where a customer has a complicated buying process, you can ask: “Who else needs to review the presentation documentation or proposal?”

It is a very disarming question. By giving your customer the opportunity to do the closing on a sale, you give them the feeling that they are in control of the conversation (even though you are doing so while still being very much in control of the sales process). When used properly, it is a powerful question that helps you move a conversation forward and close more business in less time.

Much like Dizzy Gillespie in full flight on his trumpet, your job is to keep things moving in a conversation—to win over your audience, to help them know what’s going to come next in the process, and to leverage the power of the unexpected.

By creating and nurturing great dialogue, people will want to talk to you more often, you’ll close more business more often, and you’ll have the dynamite sales records as proof.

SALES SUCCESS STORE: NEGOTIATION TRAINING PROGRAMS AND PRODUCTS

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March 10, 2011 10:02 AM

HOW TO END STALLING IN THE SALES PROCESS

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Sales Tip: Why Buyers Love to Delay Buying

By Mark Hunter

Salespeople love to complain about buyers. One of the complaints salespeople share the most is that buyers never seem to make up their mind. Just about the time it looks like they’re going to make a buying decision, they suddenly hold off.

Yes, there are times when a buyer legitimately can’t make a decision. Many times, though, the delay is nothing more than a tactic on the part of the buyer to get a better deal. This is especially true of professional buyers, who see numerous salespeople on a regular basis.

Why should anyone make a decision quickly if they don’t have to? More often than not, the buyers believe that by waiting, they will get a better deal. The salesperson will get scared and will think the only way to secure the sale is to offer a discount. Buyers believe this because experience has shown them that it works!

Salespeople by nature are scared. Don’t take offense to my observation, because I include myself in this profession as well. We, unfortunately, can view things too quickly in a negative manner. For most salespeople, the way out of a situation like this is to immediately offer the buyer a price reduction.

This is exactly what the buyer wants! They are looking for the salesperson to show some fear and some sense that the sale may not happen at all. Once the buyer smells fear, they know a better deal is about to appear.

This is also a key reason why many professional buyers love to ignore phone calls, emails and all other forms of communication from salespeople. Nothing can make a salesperson more scared than a buyer who doesn’t communicate with them.

If you’re a buyer, it’s hard to find any activities that can result in a higher return on investment than ignoring a salesperson or holding off on making a decision. These tactics usually result in saving money.

Now let’s look at this challenge from a salesperson’s perspective. Salespeople love to close sales and they also love to close sales quickly, preferably with as little effort as possible. But effort – particularly mental effort – can make the difference.

This is the ability to understand and rationalize objectively what is happening and what is not happening. This means understanding why the buyer does need to buy from you and how what you’re selling will allow them to achieve their needs and objectives.

The more you can build this kind of objective thinking into your attitude, the better equipped you are to keep negativity at bay. Negative thinking is the culprit that takes the biggest toll on a salesperson’s level of success.

As soon as the salesperson begins viewing the situation negatively and how the sale may not occur, it’s only natural for them to think the solution is to lower the price or offer something extra in the form of service. When the salesperson does this, two things happen. First, it confirms in the buyer’s mind why the smart thing to do is to slow down the decision-making process. Second, it destroys profit margin for the salesperson.

While there are several techniques to counter these outcomes, there really is only one that is foundationally most important – the confidence of the salesperson. If the salesperson is not confident, then every other tactic or strategy is useless and will have little effect. Everything starts with the salesperson.

Confidence begins with the total belief in your own skill set as a salesperson and total belief in your ability to help the buyer fill the needs they have. If you don’t believe in both of these, then there is nothing else you can do to prevent the buyer from taking advantage of you by delaying their decision.

Buyers, especially professional buyers, can discern very quickly how confident a salesperson is. If they sense the salesperson is not confident, then they’ll delay their decision. They have nothing to lose and everything to gain by doing so.

On the other hand, if you as the salesperson are determined to regularly and intentionally strengthen your own resolve and your own confidence, your natural reaction to stalling buyers will not be to cave under the pressure. Your reflex will be to wholeheartedly believe in your product, your price and your potential to help the customer achieve their goals.

Are you going to let fear or confidence determine your future? The choice is yours, so choose wisely. And profitably.

SALES SUCCESS STORE: NEGOTIATION TRAINING PROGRAMS AND PRODUCTS

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March 8, 2011 2:01 PM

CLOSING THE SALE WITHOUT SURPRISES

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Sales Tip: How To Close More Proposals in Less Time

By Colleen Francis

“Never let the final proposal be the first proposal they see.” This is advice that I have given many times in sales training sessions to salespeople in organizations both large and small, and I’m often asked to explain in more detail what I mean by that. I’m pleased to do so in this article, because what I have to say in that point is absolutely vital for salespeople who want to improve hitting and surpassing their sales targets.

The real mastery behind closing more business in less time has far less to do with closing skills than it does with having great command of everything that leads up to the point where you and your customer are ready to seal a deal.

Yes, this means more work for you. Let’s face facts: it is a mistake to assume that closing more business hinges on simply persuading people to make the commitment to buy from you at the very end of a sales process. I’m going to be blunt with you. You are not doing your job if you think that way.

What I have learned from experience is that to increase your win rate on proposals, you need to present each one as a draft to every customer. By that, I don’t just mean you should just think of it as a draft: you should literally stamp the word “DRAFT” in big, bold letters on every proposal. Doing this opens up a very important door that leads you to the success that you’re looking for in business.

Stepping back to get ahead…

Success coach Tony Robbins reminds us that: “Successful people ask better questions, and as a result, they get better answers.” He’s absolutely right. Don’t take the risk of asking a customer to make a decision on a proposal without having taken the time to ask a lot of questions first.

Before you send any proposal in hard copy or email, start by asking two key questions…

Question 1: Can I make a suggestion?

A great way to initiate dialogue with your client on that draft business proposal is by asking: “Can I make a suggestion?” In doing so, you can then explain that you want to make sure that you don’t miss anything. That’s a request that’s pretty hard to turn down. In fact, I have never met a prospect in 20 years of selling who has said no to that simple yet highly effective question.

Question 2: How about we agree to review a draft of this proposal on…?

You must secure a specific date and time to review the draft proposal with your customer This gives you the opportunity to gauge their reaction, and respond to it while they are still engaged. Doing so, you will gain a golden opportunity to review the investment options with your prospect and handle any pricing or terms objections in a live selling environment, and make changes to your proposal where necessary.

Compare that approach with blindly sending a proposal to a client without reviewing with them first. If the client doesn’t like what they see, they are likely to toss the proposal aside and ignore your calls. Sounds harsh, I know, but it’s true.

The reality is that if the prospect doesn’t like what they see it’s easier for them to ignore you than it is for them to have a conversation. In their mind, they got your proposal, didn’t like it and are no set to move on. You are the only one who can avoid this from happening, and that’s by engaging in that much-needed conversation first.

Sure, I am suggesting adding a step to your sales process—and for good reason. When you are able to talk to the client directly about their concerns (especially about pricing) your chase for answers stops, and the number of closings you will do every month grows.

As a bonus, your draft presentation/proposal review gives you a front-row seat into the mindset of your customer. For example, if you sell software and you know that your customer is comparing your draft proposal to those of two competitors, the extra time you’ve spent in drafting mode gives you the opportunity to ask questions.

For instance: “how are you going to decide which company is the right one for you?” Listen carefully to the answer you’re given. It will give you a clear indication of whether you need to make changes to your proposal.

Why this matters…

So why do smart questions, thorough responses to objections and presenting a draft proposal first matter so much? I have three answers for you.

First, because the time you invest into these elements means less risk of there being unwanted surprises at closing time. Second, it matters because people like to be treated well, and spending the extra time on opening up a dialogue with them demonstrates that their input is valued.

As a result, they are more open to share with you what’s important in their decision-making criteria. There’s one more reason why investing in the draft approach matters so much—and this is the most important one of all. You can be sure that taking this extra step is something that a lot of your competitors simply aren’t bothering to do.

So plan ahead. Take the time to adopt the draft approach in building a great business proposal. You’ll be amazed by how much easier it gets to close more business while building a great rapport with your customers and entrenching your winning edge against competitors.

SALES SUCCESS STORE: NEGOTIATION TRAINING PROGRAMS AND PRODUCTS

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March 5, 2011 10:39 AM

EFFECTIVE SALES TRAINING TAKES TIME

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HOW WE DECIDE HOW WE MAKE DECISIONS

Todd Camp • ”As for law principles, what about this one? No person will consciously do anything, unless she thinks it will give her some benefit.”

Our adversaries expect a reaction when they consciously use a tactic of taking a very negative stance with aggresive verbal statements or attacks. They do this because 99% of the time the status quo/win-win negotiator on the other side of the table will have an emotional reaction that eventually equates to a conscious decision to make a concession or compromise out of fear. Fear that they are at risk for losing the “benefit”.

So what is the Principle behind this reaction? The principle is in how this fear is chemically born within the Anterior Cingulate Cortex (ACC). The ACC is essentially a built in radar system that subconsciously sends warning signals when you are beginning to enter a dangerous or risky situation. This happens before you begin the conscious decision to react.

This happens in every human brain on the planet. The fighter pilot, the chess player, the quarterback, the fireman, the astronaut, the professional negotiator.

The sad and very hard truth for many of us to take can be seen in the difference between the professionals in the above sentence. How much training does the fighter pilot have to react to these signals coming form his or her ACC? How much training does the astronaut go through before their first flight in to orbit? How many chess games do the best in the world play for no rewards before they are considered the best? How many blitzes has Peyton Manning seen in football practices from age 12-35?

How much training does the standard “professional negotiator” put themselves through to reach an elite level of performance?

Even more importantly what kind of training do they attend and for how many years? I would argue that the majority of the professional negotiators in our group are enrolled in training programs that involve power, leverage, and emotional tactics geared to take advantage of the other party. Or, if you’re the other party in this example, you’re learning how to separate the people from the problem. You’re learning how to make the Pie Bigger. You’re learning how to prepare a BATNA so you can subconsciously turn to it before you’ve consciously negotiated every angle with every party involved.

No matter which side of the table you sit in the above paragraph, no one has a training system similar to the fighter pilot or fireman. No one has a training system that provides you with a safe environment to fail and fail and fail again just like the chess player in Central Park. No one has a training system that coaches you up to perform like a Tom Brady in finding the open receiver in a mtter of seconds.

I apologize in advance for the aggressive nature of my comment as I wonder what kind of response it will induce. I hope those of you who know me, and or who are being coached by me will understand the purpose of the comment.

I’ve seen many people on our discussions forums with great ideas and feedback who have never made the decision to pursue training. There are a lot of great comments, but the real truth is we have been ineffective at helping you discover how and why we’re different. We’ve failed and have allowed you to rest easy in an “INTELLECTUAL” state.

There are three types of training programs:

1. Power, Leverage and Tactics used to attack your emotions (Most Procurement Departments are skilled in PICOS and they spend much more time in training then the average professional)

2. Win-Win, Both-Win and the rest of the status quo programs teaching compromise tactics using assumptions and reaction strategies to the above program

3. Systematic Decision-Based Negotiation teaching processes for preparation, execution, and debriefing built on methodical disciplines with human behavioral principles as the foundation

Which are you a professional at using?

SALES SUCCESS STORE: NEGOTIATION TRAINING PROGRAMS AND PRODUCTS

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February 28, 2011 8:00 AM

SELL THE PROSPECT WHAT THEY VALUE

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What Does Your Customer Really Value?

By Mark Hunter

Sell to the customer’s value expectations, not to your value propositions.

We’ve all heard the rule of listening to what the customer has to say, and there’s not a salesperson who thinks they don’t listen to the customer. Reality, however, is quite the opposite. I find time after time when I’m working with salespeople across any number of industries that the failure to listen is a huge issue.

Too many salespeople believe because they know the products they represent much better than the client, they know exactly what the customer will see as real value. Yes, you as the agent are going to have a general indication of what a typical customer wants. However, when it comes to interacting with a specific customer, you can’t rely on a “general indication” of value.

The only way you are going to know what a customer will place value in is by asking them and getting them to tell you what they’re looking for. Sounds simple enough, and yet so many salespeople don’t do it.

If you don’t believe what I am saying, then let me share about the situation my wife found herself in while buying a car. The car she was looking at was an SUV with all the amenities of what people expect when looking for an SUV (4-wheel drive, ability to handle rugged winter driving, etc).

The salesperson continued to press my wife on the value of these features of the SUV. The problem was that my wife wasn’t particularly interested in those features. Yes, we wanted an SUV, but my wife — the primary driver of the vehicle — was looking for an amazing sound system and heated, comfortable seats.

I can’t tell you the number of salespeople who lost the sale because they failed to understand what my wife’s value expectations were with regard to the car. We could easily have been sold on an SUV other than the one we bought, had the salesperson listened and put aside their pre-conceived notions of what a “typical buyer” of an SUV might be most interested in.

I share this example so that you can see that it’s not just about “understanding” this dynamic; it’s about learning from it and changing how you interact with customers.

The learning is simple: Listen to what the customer is saying. They will tell you what their needs are when you ask them the right questions. This means not only do you need to ask the right questions, but you also need to hear what the customer is telling you and then ask them a follow-up question on what they just told you.

Asking the follow-up question is key, because the vast majority of time, the customer will share with you much better insights when you show interest and involvement in what they’re telling you.

Once a person feels the other person is truly listening, it’s only natural for the quality of the conversation to become more real and engaging. By asking the follow-up questions, the salesperson will learn what the customer’s value expectations are.

The salesperson can then finally work to close the sale to the customer’s expectations. When that happens, they will do more than just close the sale. There is a significant likelihood the sale will be closed at a higher profit, because the customer sees more value in what they’re buying.

SALES SUCCESS STORE: NEGOTIATION TRAINING PROGRAMS AND PRODUCTS

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February 22, 2011 12:24 PM

SALES: ASK GOOD QUESTIONS & LISTEN CAREFULLY

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by    in Unconventional Sales

What Does Your Customer Really Value?

By Mark Hunter

Sell to the customer’s value expectations, not to your value propositions.

We’ve all heard the rule of listening to what the customer has to say, and there’s not a salesperson who thinks they don’t listen to the customer. Reality, however, is quite the opposite. I find time after time when I’m working with salespeople across any number of industries that the failure to listen is a huge issue.

Too many salespeople believe because they know the products they represent much better than the client, they know exactly what the customer will see as real value. Yes, you as the agent are going to have a general indication of what a typical customer wants. However, when it comes to interacting with a specific customer, you can’t rely on a “general indication” of value.

The only way you are going to know what a customer will place value in is by asking them and getting them to tell you what they’re looking for. Sounds simple enough, and yet so many salespeople don’t do it.

If you don’t believe what I am saying, then let me share about the situation my wife found herself in while buying a car. The car she was looking at was an SUV with all the amenities of what people expect when looking for an SUV (4-wheel drive, ability to handle rugged winter driving, etc).

The salesperson continued to press my wife on the value of these features of the SUV. The problem was that my wife wasn’t particularly interested in those features. Yes, we wanted an SUV, but my wife — the primary driver of the vehicle — was looking for an amazing sound system and heated, comfortable seats.

I can’t tell you the number of salespeople who lost the sale because they failed to understand what my wife’s value expectations were with regard to the car. We could easily have been sold on an SUV other than the one we bought, had the salesperson listened and put aside their pre-conceived notions of what a “typical buyer” of an SUV might be most interested in.

I share this example so that you can see that it’s not just about “understanding” this dynamic; it’s about learning from it and changing how you interact with customers.

The learning is simple: Listen to what the customer is saying. They will tell you what their needs are when you ask them the right questions. This means not only do you need to ask the right questions, but you also need to hear what the customer is telling you and then ask them a follow-up question on what they just told you.

Asking the follow-up question is key, because the vast majority of time, the customer will share with you much better insights when you show interest and involvement in what they’re telling you.

Once a person feels the other person is truly listening, it’s only natural for the quality of the conversation to become more real and engaging. By asking the follow-up questions, the salesperson will learn what the customer’s value expectations are.

The salesperson can then finally work to close the sale to the customer’s expectations. When that happens, they will do more than just close the sale. There is a significant likelihood the sale will be closed at a higher profit, because the customer sees more value in what they’re buying.

SALES SUCCESS STORE: NEGOTIATION TRAINING PROGRAMS AND PRODUCTS

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February 21, 2011 2:33 PM

IN SALES NEGOTIATION, THERE IS LITTLE NEED TO CHANGE

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by    in Unconventional Sales

Selling – The New Normal

By Drew Stevens

Undoubtedly the end of the recession and the beginning of the New Year create times of change. Many fear change because of the fear of the unknown and an alteration from their comfort zone. Change needs to be embraced.

Selling will be one of those areas of change and deservedly so. Selling has been slow to alter for several reasons:

Personnel – the good times prior to the recession focused less on people and more on process.
Leadership – there are so many theories on selling, many do not know whom to follow or trust.
Training – many believe that training is the best method to alter selling patterns but have found little return on investment.
Customers – many selling professionals and managers believe that customers buying patterns have not changed.

With over 28 years in my field I find there are tremendous alterations in buying patterns, customer behaviors and selling processes. When I began selling we attempted sales with visual words or on site demonstrations. Today some customer conversations are conducted over the Internet and demonstrations are arranged with apps and cloud computing.

Customers do not want or need to be sold. In fact they know more about your business, your industry and your company then ever before. If they want it they will connect with you. Customers are smarter and more connected than ever. That said, the key differentiator is the service, support and systems you provided to engage clients.

Here are some things to consider:

Cold Calling – Dump it. It is very discouraging to see how many people believe this rote methodology still works. In the age of caller ID, the number of gatekeepers and simply busyness- people are too busy. Cold calling is a disruption. It wastes time. Name one millionaire representative that did so cold calling?

Customer Response – I wish I had a dollar for every selling professional that kept promises to contact me on specific dates and times. I have a return call policy of 90 minutes, yet I am amazed when it takes days or weeks for sales representatives to return my call. Return calls when promised.

Customer Service – There is research that illustrates that over fifty percent of customer interaction is service related. Treat your customers correctly by becoming engaged. I am reminded of Aaron who was attempting to sell copiers and got the prospect’s name incorrect four times in the same conversation. Be in the moment.

Selling versus building relationships – Social networking groups are besieged with conversation about “selling to the c suite”. Not only is it interesting to discover so many self proclaimed experts but more ironic to view the opinions on how to sell to senior executives. Herein is the best advice. Senior Executives do not want to be sold anything. They desire healthy conversations that build relationships with trusted peers. Senior officers know what they need and when they need it. Stop listening to unhealthy advice.

C2C – With the high levels of connectivity customers are more interested today in hearing from other customers. People buy from those they know and trust. Individuals desire customer-centered relationships. Build your community with case studies, testimonials and audio/video snippets that illustrates results from other customers.

Customer Communication – Technology is not the answer to everything. You must be constantly top of mind so avoid activities that diminish relationships. Rather pick up a telephone or send a simple handwritten gratuity card. Illustrate your value not the need to make commission.

Customer Discretion – Customers are no longer in a hurry. Credit concerns, economic volatility and shareholder return are more important than ever. In addition, the use of the Internet enables customers the necessary time to conduct the proper research before making decisions.

A recent client researched John’s firm for over six months. They conducted research and sought council from former clients then signed a six-figure order. If you’re patient they will come.

SALES SUCCESS STORE: NEGOTIATION TRAINING PROGRAMS AND PRODUCTS

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February 14, 2011 9:44 AM

SELLING IS NOT ABOUT THE COMPETITION

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by    in Unconventional Sales

Selling Against the Competition

Companies who don’t understand their competitive advantage say things like “Our product is better quality” or “Our service is better.” Even if a company has better quality or better service, it won’t convince it’s customers just by saying so, because many of it’s competitors will be saying the exact same thing! You have to define quality or show how your service differs from the competition.

The best way to determine your competitive advantage is to break down the components of your product or service into four distinct categories:

Competitive uniqueness: What can I do for my customers that no one else can do? What can I offer that no one else can offer?

Competitive advantage: What can I do for my customer that my competitor can also do, but I can do it better and I can prove it?

Competitive parity: Objectively speaking, my competitors and I are the same here – no real differentiation.

Competitive disadvantages: Where does the competition have an advantage over me?

You may want to do your analysis by market segment, by competitor, by product, or all of them, but knowing your competitive position will quickly get you onto your customers’ wavelength.

An example of competitive uniqueness exists if a pharmaceutical company receives FDA approval to sell a new drug. Since no one else has the drug, this company now has a competitive uniqueness with this drug.

An example of a competitive advantage might be where two companies market the same drug, but one is a large well-known company with wide name recognition and the other is a small relatively unknown company. If no real competitive advantage exists in your product, try to focus on your company reputation, your excellent service, your responsiveness and reliability, or any other factors than can positively differentiate you from your competition.

Competitive parity – what things are the same between the competition and us but are still important to the customer? Birth control pills are a good example. Several ethical drug companies make different formulations, but all with similar records for preventing pregnancy.

And finally, competitive disadvantage -what does the competition do better than you do? Your drug may have more side effects than the competitor’s.

By doing this analysis, you’ll be in a position to help your customers distinguish between you and your competition.

In order to discover your competitive advantage, you may have to do some intelligence gathering – talk to your customers, your salespeople, watch the local newspapers, attend tradeshows, talk to your customers’ suppliers, build a file of your competitors’ marketing and product information, do a debriefing when you lose a customer to a competitor, use a clipping service to gather information on competitors or on major prospects, obtain annual and quarterly reports of your competitors and prospective customers, watch the market trends in your industry and in your customers’ industries-become the expert on your product or service and how it can help your customers.

Knowing, and being able to articulate, your competitive advantages sets you apart from your competition and clearly shows your customers what your company can do for them that no one else can do.

-DR. TONY ALESSANDRA

SALES SUCCESS STORE: NEGOTIATION TRAINING PROGRAMS AND PRODUCTS

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