The pitfalls of hiring a dual agent in a business sale transaction
Most people have heard of dual agency in the context of a real estate transaction and have some awareness of the issues surrounding dual agency. In spite of the inherent conflict of interest, many people do not mind transacting residential or commercial property using a dual agent. The reason is pretty straight forward - while there is risk of not getting good representation, the downside is typically small. Property values are driven by comps and cap rates and in most cases, the amount of money left on the table is a small percent of the transaction value. The commodity nature and relative liquidity of real estate also helps make buyers and sellers comfortable with the risk level.
But does this logic apply to business sale transactions? Businesses, compared to real estate, are illiquid and the valuations and the ultimate closing prices vary dramatically from business to business. The deal amount can also change dramatically through the duration of a deal. In Business sale transactions, not having a fiduciary agent working for you can cost you plenty.
Let us start with an explanation of "fiduciary duty". An agent used to represent a buyer or seller in a business transaction has a fiduciary duty. A fiduciary duty is the highest standard of care imposed at either equity or law. A fiduciary is expected to be extremely loyal to the principal. Among other responsibilities, a fiduciary must not put their personal interests before the duty and a fiduciary must not profit from the fiduciary position without express knowledge and consent of the principal. A fiduciary also has a duty to be in a situation where there is no personal conflict of interest and where there is no conflict of interest with another fiduciary duty.
In light of large sums of money at stake in a business transaction and these fiduciary responsibilities, let's look at the three key issues faced by a dual agent in a business sale.
1. Conflict of Interest
This is by far the most obvious and most damning part of being on both sides of a business sale transaction. A business intermediary is obligated to serve the best interests of his or her principal. Buyers and sellers by definition have conflicting interests. Who should the intermediary be loyal to? Is the agent looking after your best interests? Some agencies will tell customers that they will assign separate individuals to the buying side and selling side and create a Chinese wall.
In practice, the wall between the two sides in the same company, even in a large company with processes to cover this type of conflict of interest, let alone a typical small to mid market intermediary, is more akin to a sieve than Chinese wall. An agency in this situation is in violation of the standards of being a fiduciary.
2. Advocacy
Any competent agent will tell you that, when two principles' interests are in direct conflict, the agent cannot advise, advocate, or give allegiance to either party if such counsel gives one party an advantage over the other. Not remaining neutral or showing favoritism would be illegal and can make the agent liable to potential damages. A careful dual agent would shun the risk of advocacy and will tell you that they will be extremely careful to represent both parties equally and fairly. In other words, both parties lose "advocacy" for their best interests! Is this what you pay your agent for? Wouldn't you rather pay an agent that advocates your interests?
In practice, providing equal service to two parties is difficult and, even if the agent is highly ethical, agent's biases and self interests may tip the scales in difficult situations.
3. Sensitive Information
A business sale can take an extended amount of time and the seller or buyer may experience one or more personal events which, while not affecting the performance of the business being transacted, may have substantial impact on the negotiations. The agent may become aware of this sensitive information which, if disclosed to the other party, could harm one party and benefit the other. If the agent has one principal, clearly the agent will develop a strategy to minimize the impact to the principal. How does a dual agent handle this type of information about a client? Would you trust your sensitive information with a dual agent?
In practice, the agent ends up playing favorites or in a worst case scenario, one or both of the parties' interests are sacrificed in the interest of "getting the deal done".
Summary: Business sellers and buyers need to carefully pick their agent in a business sale transaction. Providing equal service to both clients is practically impossible in most deals. In the best case scenario, neither the seller nor the buyer is getting an advocate. In the worst case scenario, one or both of the parties are being sacrificed. For this reason some states do not permit dual agency. Much can be lost by employing agents who put themselves in the position of being dual agents and thus not living up to the fiduciary standards.
Tuesday, February 26, 2008
How To Make Selling More Really Simple
How many friends, family and associates do you know who have been employed in sales at some time in the past? How many of them weren't very good at it?
The answer to the first question is easy, probably quite a few. At some point or other in their lives many people have had a go at selling even if only as a student or in their first job. You may not know the answer to the second one... it's probably most of them!
Probably most of them.
Oh, for sure, they'll tell you that they did well. They'll tell you that they sold bucket loads! They'll tell you that they were a top sales performer. They'll even talk knowledgeably about how to sell. It's amazing what a good game people who only sold for a few weeks and never had any sales training can talk! They'll talk about open questions and wants and needs like they know what they're talking about but... seriously... most of them failed!
Not all, but most!
Top salespeople lead an enviable life. They earn great money. They win promotions. They have job security. They have respect, opportunity and friends. They have freedom, career choices and financial independence. They have fun, challenge and variety.
So if you had all of that, why would you leave? Mostly only if you weren't getting those things at all! I met a friend of a friend in the pub the other night and he looked scathingly at me when I said that I was a sales training expert and told me that he left sales for "more security" and opportunity. He earns in a month what I earn in a day. I recently heard that his company are looking to "cut back" in his department. Nuff said!
But why this tirade? And why today?
Simple. This week I worked with a really great team of salespeople. They were enthusiastic, interested, open and up for it. They embraced the fact that selling is simple and they wanted to master those simple skills. Sales is so simple in fact that nearly anyone could be very successful in sales. Selling is straight forward enough that everybody in the training room could achieve phenomenal success if they commit and take action...
So if selling is so simple why can't everyone do it?
Because selling is about attitude. Selling is an attitude. Selling is an attitude that leaves behind a trail of techniques. Now don't get me wrong here... sales skills are very important, very important indeed. Anyone who has been through a sales training programme with me or who has attended one of my sales seminars will know just how important I believe sales skills are...
But they're not the key factor in this equation. They're only a part of the equation. And on the other side of that equation is attitude. Without the right attitude you won't be able to access your skills. Frankly, without the right attitude, you're in trouble. If you can get and maintain the right attitude then you will make a success of yourself in sales and selling. Period. If you can't, you won't. It's goodnight sweetheart!
I would far rather hire someone with all of the right attitudes and potential and train them on the skills side than I would wrestle with someone with all of the skills and experiences who cannot be bothered any more! The former salesperson I can train because they want to learn, the latter I have to re-motivate and re-educate. Possible but much harder...
You've probably worked with or recruited a salesperson who had all of the right attitudes but was light on skills. They probably did pretty well. It usually gets put down to "beginner's luck" but it's not "beginner's luck", its "beginner's attitude".
And it's at this point that many people not in sales might be tempted to conclude that sales and selling is easy. Something for thickos, something that anyone can do.
Just so wrong!
The hardest thing in the world is getting, keeping, maintaining and improving the right attitude. In sales you never know when you might run into someone who is going to be your best ever client. You never know if the next sales call is going to win you a multi-million account. You never know which meetings are going to convert and which aren't...
And this makes it hard because you have to be on top sales form for every call. Top sales form for every presentation. Top sales form for every meeting. Top sales form for every negotiation. Top sales form for every conversation. Top sales form for every communication. Top sales form. Top sales form. Top sales form.
Not for you the mindless "going through the motions" that some non-salespeople can get away with for periods of time. You have to be switched on, tuned in, fully focused, up for it, raring to go, playing from a 10, on the ball...
Salespeople often say to me that cold calling (for example) is repetitive and boring...
Wrong attitude! You have to be on top sales form for every call. It could be your umpteenth call of the day but it is the initial contact with you for your potential clients. You have to be on top form, you have no safety net!
To make matters worse, salespeople get faced with problems and challenges every day. Problems, complaints, rejections and client objections are something we have to deal with every day and we must stay on top sales form.
So if selling is so simple, why can't everyone do it?
Because selling is about taking personal responsibility for your own attitude, your own behaviours and your own results. Selling is about smiling when you don't feel like smiling. Listening when you don't feel like listening, Caring when you don't want to care. Standing up when you feel like lying down. Pushing on when you feel like giving up. Firing on all cylinders when you feel like throttling down. Taking responsibility when you want to pass the buck.
Selling provides virtually unrivaled opportunities for anyone who is prepared to commit themselves. Your degree won't help you. Your qualifications and exams won't help you. Your CV won't help you. The only person who can help you is you. And that's too much of a leveller for most people.
The answer to the first question is easy, probably quite a few. At some point or other in their lives many people have had a go at selling even if only as a student or in their first job. You may not know the answer to the second one... it's probably most of them!
Probably most of them.
Oh, for sure, they'll tell you that they did well. They'll tell you that they sold bucket loads! They'll tell you that they were a top sales performer. They'll even talk knowledgeably about how to sell. It's amazing what a good game people who only sold for a few weeks and never had any sales training can talk! They'll talk about open questions and wants and needs like they know what they're talking about but... seriously... most of them failed!
Not all, but most!
Top salespeople lead an enviable life. They earn great money. They win promotions. They have job security. They have respect, opportunity and friends. They have freedom, career choices and financial independence. They have fun, challenge and variety.
So if you had all of that, why would you leave? Mostly only if you weren't getting those things at all! I met a friend of a friend in the pub the other night and he looked scathingly at me when I said that I was a sales training expert and told me that he left sales for "more security" and opportunity. He earns in a month what I earn in a day. I recently heard that his company are looking to "cut back" in his department. Nuff said!
But why this tirade? And why today?
Simple. This week I worked with a really great team of salespeople. They were enthusiastic, interested, open and up for it. They embraced the fact that selling is simple and they wanted to master those simple skills. Sales is so simple in fact that nearly anyone could be very successful in sales. Selling is straight forward enough that everybody in the training room could achieve phenomenal success if they commit and take action...
So if selling is so simple why can't everyone do it?
Because selling is about attitude. Selling is an attitude. Selling is an attitude that leaves behind a trail of techniques. Now don't get me wrong here... sales skills are very important, very important indeed. Anyone who has been through a sales training programme with me or who has attended one of my sales seminars will know just how important I believe sales skills are...
But they're not the key factor in this equation. They're only a part of the equation. And on the other side of that equation is attitude. Without the right attitude you won't be able to access your skills. Frankly, without the right attitude, you're in trouble. If you can get and maintain the right attitude then you will make a success of yourself in sales and selling. Period. If you can't, you won't. It's goodnight sweetheart!
I would far rather hire someone with all of the right attitudes and potential and train them on the skills side than I would wrestle with someone with all of the skills and experiences who cannot be bothered any more! The former salesperson I can train because they want to learn, the latter I have to re-motivate and re-educate. Possible but much harder...
You've probably worked with or recruited a salesperson who had all of the right attitudes but was light on skills. They probably did pretty well. It usually gets put down to "beginner's luck" but it's not "beginner's luck", its "beginner's attitude".
And it's at this point that many people not in sales might be tempted to conclude that sales and selling is easy. Something for thickos, something that anyone can do.
Just so wrong!
The hardest thing in the world is getting, keeping, maintaining and improving the right attitude. In sales you never know when you might run into someone who is going to be your best ever client. You never know if the next sales call is going to win you a multi-million account. You never know which meetings are going to convert and which aren't...
And this makes it hard because you have to be on top sales form for every call. Top sales form for every presentation. Top sales form for every meeting. Top sales form for every negotiation. Top sales form for every conversation. Top sales form for every communication. Top sales form. Top sales form. Top sales form.
Not for you the mindless "going through the motions" that some non-salespeople can get away with for periods of time. You have to be switched on, tuned in, fully focused, up for it, raring to go, playing from a 10, on the ball...
Salespeople often say to me that cold calling (for example) is repetitive and boring...
Wrong attitude! You have to be on top sales form for every call. It could be your umpteenth call of the day but it is the initial contact with you for your potential clients. You have to be on top form, you have no safety net!
To make matters worse, salespeople get faced with problems and challenges every day. Problems, complaints, rejections and client objections are something we have to deal with every day and we must stay on top sales form.
So if selling is so simple, why can't everyone do it?
Because selling is about taking personal responsibility for your own attitude, your own behaviours and your own results. Selling is about smiling when you don't feel like smiling. Listening when you don't feel like listening, Caring when you don't want to care. Standing up when you feel like lying down. Pushing on when you feel like giving up. Firing on all cylinders when you feel like throttling down. Taking responsibility when you want to pass the buck.
Selling provides virtually unrivaled opportunities for anyone who is prepared to commit themselves. Your degree won't help you. Your qualifications and exams won't help you. Your CV won't help you. The only person who can help you is you. And that's too much of a leveller for most people.
Sunday, February 24, 2008
What To Say When Your Prospect Only Has 10 Minutes
Have you ever had a prospect say to you "Tell me about your products and I only have 10 minutes"? What have you done in this situation? What was the response you received?
Before we look at three ways to respond, let's look at the "I only have 10 minutes" statement.
The "I only have 10 minutes" statement could be true and/or it could be being used as a protection mechanism. Your prospects want to protect themselves from salespeople and this statement is ideal for this. If they've told you they only have 10 minutes then they are not being rude when they leave the conversation in 10 minutes. Bear this in mind as you read on.
There are three options for how to respond when your prospect says "Tell me about your products and I only have 10 minutes."
Option One
You fall into the trap and tell them about your products. You talk non-stop for 10 minutes bombarding them about your products. You hope that something relevant is going to jump out at them as you talk, talk, talk and talk.
If you take this option you've acted like a salesperson. If you're acting like a salesperson your prospect will be counting the seconds until the 10 minutes are up so they can say "thanks very much, I've got to go."
By talking nonstop about yourself and your products you've committed 6 out of the 10 top sales mistakes and you will have more than likely repelled your prospect.
Option Two
You ask to schedule a time when they have longer than 10 minutes to talk.
On the surface this sounds like a sensible option but if they are using the 10-minutes as a protection barrier, it'll be difficult to get more time with them. Prospects don't want to let this protection mechanism against salespeople go.
If they really only have 10 minutes then think of it from their perspective. They are busy and their time is valuable. In the 10 minutes they've given you they really want you to show them why they should talk to you. So can you see that even if they don't have a real 10 minutes deadline, they'll probably still only want to give you 10 minutes?
Option Three
This option is the complete opposite of Option One where you talk, talk and talk. With this option you get them to talk, ideally for about 8 out of the 10 minutes.
With this option, instead of hearing "Tell me about your products and services." you hear "What's in it for me to talk to you?" You know you have 10 minutes for them to feel there is value in them spending their limited time having a conversation with you.
If they can see the value in talking to you, then when the 10 minutes is up they'll probably keep talking and you might find the 10 minutes extends to 30 minutes to an hour, etc. Also, if the 10 minute limit was real, then probably at the end of the 10 minutes they'll be the ones asking you to come back to continue the great conversation.
So how do you show them what's in it for them to talk to you? There are essentially two parts. Part one is where you set the context for asking questions and the second part is where you ask them highly relevant, targeted and short questions which get them to talk so you can listen.
Here's a very brief example of setting up the context for asking questions:
"There is so much I could l tell you but rather than waste your time talking about products that may or may not be relevant or of any value to you, I'd really like to spend the next 10 minutes talking about your own specific issues. That way when I do talk about our products, I'll be able to show you exactly where the value is for you. You never know we may even find that my products are of no value to you. If it's okay with you I'd like to ask you a few questions..."
If you take this approach, you're not acting like a salesperson trying to sell them something and consequently the salesperson protection barrier will come down. People are interested in people who are sincerely interested in them and want to help them solve their problems. They will want to continue the conversation as they will see it to be of value to them.
So in summary whenever a prospect says "Tell me all about your products and I only have 10 minutes" don't fall into the trap of talking and get them to talk instead. Ask meaningful, relevant and short questions and your prospects will want to talk to you - for much longer than 10 minutes.
Before we look at three ways to respond, let's look at the "I only have 10 minutes" statement.
The "I only have 10 minutes" statement could be true and/or it could be being used as a protection mechanism. Your prospects want to protect themselves from salespeople and this statement is ideal for this. If they've told you they only have 10 minutes then they are not being rude when they leave the conversation in 10 minutes. Bear this in mind as you read on.
There are three options for how to respond when your prospect says "Tell me about your products and I only have 10 minutes."
Option One
You fall into the trap and tell them about your products. You talk non-stop for 10 minutes bombarding them about your products. You hope that something relevant is going to jump out at them as you talk, talk, talk and talk.
If you take this option you've acted like a salesperson. If you're acting like a salesperson your prospect will be counting the seconds until the 10 minutes are up so they can say "thanks very much, I've got to go."
By talking nonstop about yourself and your products you've committed 6 out of the 10 top sales mistakes and you will have more than likely repelled your prospect.
Option Two
You ask to schedule a time when they have longer than 10 minutes to talk.
On the surface this sounds like a sensible option but if they are using the 10-minutes as a protection barrier, it'll be difficult to get more time with them. Prospects don't want to let this protection mechanism against salespeople go.
If they really only have 10 minutes then think of it from their perspective. They are busy and their time is valuable. In the 10 minutes they've given you they really want you to show them why they should talk to you. So can you see that even if they don't have a real 10 minutes deadline, they'll probably still only want to give you 10 minutes?
Option Three
This option is the complete opposite of Option One where you talk, talk and talk. With this option you get them to talk, ideally for about 8 out of the 10 minutes.
With this option, instead of hearing "Tell me about your products and services." you hear "What's in it for me to talk to you?" You know you have 10 minutes for them to feel there is value in them spending their limited time having a conversation with you.
If they can see the value in talking to you, then when the 10 minutes is up they'll probably keep talking and you might find the 10 minutes extends to 30 minutes to an hour, etc. Also, if the 10 minute limit was real, then probably at the end of the 10 minutes they'll be the ones asking you to come back to continue the great conversation.
So how do you show them what's in it for them to talk to you? There are essentially two parts. Part one is where you set the context for asking questions and the second part is where you ask them highly relevant, targeted and short questions which get them to talk so you can listen.
Here's a very brief example of setting up the context for asking questions:
"There is so much I could l tell you but rather than waste your time talking about products that may or may not be relevant or of any value to you, I'd really like to spend the next 10 minutes talking about your own specific issues. That way when I do talk about our products, I'll be able to show you exactly where the value is for you. You never know we may even find that my products are of no value to you. If it's okay with you I'd like to ask you a few questions..."
If you take this approach, you're not acting like a salesperson trying to sell them something and consequently the salesperson protection barrier will come down. People are interested in people who are sincerely interested in them and want to help them solve their problems. They will want to continue the conversation as they will see it to be of value to them.
So in summary whenever a prospect says "Tell me all about your products and I only have 10 minutes" don't fall into the trap of talking and get them to talk instead. Ask meaningful, relevant and short questions and your prospects will want to talk to you - for much longer than 10 minutes.
Effective Selling - How Do You Dig Holes To Draw Water?
If a geologist told you that in order to draw water from a parcel of land, you would have to dig down 10 feet. The obvious best course of action is to dig one, 10 foot hole. The task would not be difficult and once you dug the hole, you would draw water. This is not a trick question and it certainly does not require a complex answer.
But too often, the ineffective sales executive over complicates their situation and strays from the salesmanship basics: building relationships, exploring customer needs, overcoming rejections, etc. The ineffective sales executive loses focus on the corporate strategy. They keep reinventing new things to do versus executing the tasks at hand. To the dismay of the geologist, the ineffective sales executive digs ten, 1 foot holes. Hence, they never draw water!
In our current internet age business environment, it is easy to become distracted. You are juggling an overflowing e-mail inbox, your customers are demanding more and more for less, and you may be experiencing sales management pressure to just "do something". It is easy to fall prey to the sales management fallacy of believing that hyper-activity will lead to immediate results. Unfortunately "busyness" does not close deals, persistent execution does.
As a sales manager, it is easy for me to spot out the "hole diggers". They are ones that show up every week on the sales call with some new close strategy or master plan to make a quick sale. This in itself is not the problem. The problem is that they are not persistent in executing all of the other strategies they were pursuing from the previous weeks, i.e. they did not finish digging their holes. This is one recipe for lack of sales execution.
But too often, the ineffective sales executive over complicates their situation and strays from the salesmanship basics: building relationships, exploring customer needs, overcoming rejections, etc. The ineffective sales executive loses focus on the corporate strategy. They keep reinventing new things to do versus executing the tasks at hand. To the dismay of the geologist, the ineffective sales executive digs ten, 1 foot holes. Hence, they never draw water!
In our current internet age business environment, it is easy to become distracted. You are juggling an overflowing e-mail inbox, your customers are demanding more and more for less, and you may be experiencing sales management pressure to just "do something". It is easy to fall prey to the sales management fallacy of believing that hyper-activity will lead to immediate results. Unfortunately "busyness" does not close deals, persistent execution does.
As a sales manager, it is easy for me to spot out the "hole diggers". They are ones that show up every week on the sales call with some new close strategy or master plan to make a quick sale. This in itself is not the problem. The problem is that they are not persistent in executing all of the other strategies they were pursuing from the previous weeks, i.e. they did not finish digging their holes. This is one recipe for lack of sales execution.
Tuesday, February 19, 2008
My Direct Sales Experiences
Direct sales is a challenging job. Patience and persistence are the main factors that lead to success in direct sales. I was doing direct sales, promoting children educational materials for few years, the experiences helped me in my present job. Due to inexperience, I needed to follow my team supervisor on the job training. After one week, I had to do it on my own.
Initially, I was very nervous when talking to clients. I was unable to close any sales because of poor presentation skills and inadequate product knowledge.
me that I was capable. He told me that he could not close any sales in the first week. With passion and undaunted spirit, he finally closed six sales in the third week. He told me that success needed persistence and determination. He gave me few motivation books to read.
After that, I kept on learning the product knowledge and improving my selling skills. I finally closed four sales in the third week, it boosted my confidence.
Since then, I worked extremely hard and was promoted to sales supervisor after few months. I started to lead the new team and taught them whatever I had learned about direct sales. I remembered that I had won a camera during the team competition and a free trip to Bali as well.
Initially, I was very nervous when talking to clients. I was unable to close any sales because of poor presentation skills and inadequate product knowledge.
me that I was capable. He told me that he could not close any sales in the first week. With passion and undaunted spirit, he finally closed six sales in the third week. He told me that success needed persistence and determination. He gave me few motivation books to read.
After that, I kept on learning the product knowledge and improving my selling skills. I finally closed four sales in the third week, it boosted my confidence.
Since then, I worked extremely hard and was promoted to sales supervisor after few months. I started to lead the new team and taught them whatever I had learned about direct sales. I remembered that I had won a camera during the team competition and a free trip to Bali as well.
Personality Traits - 7 Key Traits That Measure Sales Success
After 40 years of testing over 2,000,000 people Winslow Research Institute can isolate a personal profile that will identify a successful salesperson. The Personal Assessment measures 24 different areas of personal attitudes emotional reactions and mental capabilities and all of these areas are important and need to be evaluated. Areas of concern in these other traits may override the 7 key areas. So a total assessment is necessary to select a top not applicant however there are 7 key traits that we see time and time aging that produce a Star Sales employee.
These traits are
1) Sociability
2) Self-confidence
3) Composure
4) Tough-minded
5) Endurance
6) Ambition
7) Control
Sociability
Extroverted, outgoing, friendly, gregarious, neighborly, congenial. Warm hearted individuals who enjoy interacting and participating with others. They greet strangers openly, are quick to form friendships, and enjoy careers dealing with people rather than things. They are rarely content in solitary work. People that are highly rated in Sociability are happier people overall in life.
Self-confidence - #1 Reason for Sales Success -
Self-assured, certain, secure, brave, fulfilled, poised, self-reliant. Believe they have the knowledge and ability to be successful at whatever they attempt. Cope successfully with challenges and are not easily discouraged. Handle unexpected situations well, make decisions with assurance, and are quick to express ideas and opinions.
Composure
Calm, emotionally mature, tranquil, peaceful, serene, unperturbed, placid, composed. Can control their emotions and function effectively in stressful situations. Have the capability to maintain composure and deal with stress in a calm, objective manner. Rarely allow their feelings to negatively effect performance, and are not easily discouraged or frustrated by problems. Will not become upset over mistakes or misfortune.
Tough-minded
Resilient, realistic, unsentimental, tough-minded, durable, hard, possibly insensitive and callous. Can function normally in difficult and unpleasant situations. Not deterred by obstacles, disappointments or setbacks. Can accept strong criticism, do not become easily upset, and recover quickly when things go wrong. Do not need excessive praise or encouragement from others.
Endurance
Industrious, energetic, determined, vigorous, diligent, enduring, persevering. Willing to put forth the physical effort necessary to be successful. Will exert sustained effort and persistence to accomplish their tasks and goals. Unrelenting in work habits, will practice long and hard, and will not give up easily on problems.
Ambition
Competitive, aspiring, enthusiastic, enterprising, industrious, goal-oriented, eager, striving. Strong desire to reach higher levels of achievement and to respond positively to competitive situations. Aspire to accomplish difficult tasks and set and maintain high goals. Tend to approach most situations competitively
Control
Deliberate, calculating, analytical, designing, possibly indecisive and prone to procrastinate. Highly disciplined, maintain control over their behavior and do not act impulsively. It would be unusual for them to speak or act without considering the consequences. May be slow to act or hesitant to make decisions in some situations.
Employees that are stars in sales will measure an 8 out of 10 or higher in each of the areas above. Again it is necessary to evaluate all of the personality traits, if there are more then 5 concerns in the other 17 personal traits it may be a reason not to hire some one that excels 7 key areas. It is important to work with Winslow Research Institute until you have an understanding of the reports and how to measure Star applicants and employees
These traits are
1) Sociability
2) Self-confidence
3) Composure
4) Tough-minded
5) Endurance
6) Ambition
7) Control
Sociability
Extroverted, outgoing, friendly, gregarious, neighborly, congenial. Warm hearted individuals who enjoy interacting and participating with others. They greet strangers openly, are quick to form friendships, and enjoy careers dealing with people rather than things. They are rarely content in solitary work. People that are highly rated in Sociability are happier people overall in life.
Self-confidence - #1 Reason for Sales Success -
Self-assured, certain, secure, brave, fulfilled, poised, self-reliant. Believe they have the knowledge and ability to be successful at whatever they attempt. Cope successfully with challenges and are not easily discouraged. Handle unexpected situations well, make decisions with assurance, and are quick to express ideas and opinions.
Composure
Calm, emotionally mature, tranquil, peaceful, serene, unperturbed, placid, composed. Can control their emotions and function effectively in stressful situations. Have the capability to maintain composure and deal with stress in a calm, objective manner. Rarely allow their feelings to negatively effect performance, and are not easily discouraged or frustrated by problems. Will not become upset over mistakes or misfortune.
Tough-minded
Resilient, realistic, unsentimental, tough-minded, durable, hard, possibly insensitive and callous. Can function normally in difficult and unpleasant situations. Not deterred by obstacles, disappointments or setbacks. Can accept strong criticism, do not become easily upset, and recover quickly when things go wrong. Do not need excessive praise or encouragement from others.
Endurance
Industrious, energetic, determined, vigorous, diligent, enduring, persevering. Willing to put forth the physical effort necessary to be successful. Will exert sustained effort and persistence to accomplish their tasks and goals. Unrelenting in work habits, will practice long and hard, and will not give up easily on problems.
Ambition
Competitive, aspiring, enthusiastic, enterprising, industrious, goal-oriented, eager, striving. Strong desire to reach higher levels of achievement and to respond positively to competitive situations. Aspire to accomplish difficult tasks and set and maintain high goals. Tend to approach most situations competitively
Control
Deliberate, calculating, analytical, designing, possibly indecisive and prone to procrastinate. Highly disciplined, maintain control over their behavior and do not act impulsively. It would be unusual for them to speak or act without considering the consequences. May be slow to act or hesitant to make decisions in some situations.
Employees that are stars in sales will measure an 8 out of 10 or higher in each of the areas above. Again it is necessary to evaluate all of the personality traits, if there are more then 5 concerns in the other 17 personal traits it may be a reason not to hire some one that excels 7 key areas. It is important to work with Winslow Research Institute until you have an understanding of the reports and how to measure Star applicants and employees
Monday, February 18, 2008
Trying Too Hard To Make The Sale When Cold Calling
Frequently when cold calling we make the assumption that if the prospect shows the slightest bit of interest in the product or service they will buy. We push hard to get the sale. This technique is a traditional sales method. We are often taught from the start to use this form.
If they person says "No" change it to a "Yes"; if they hang up you simply move to the next prospect. The numbers game of cold calling and is no longer needed to effectively cold call. With the new mind-set you will not have to feel stressed or bad for pushing the prospect for the sale...because the sale is not the main goal or objective in the new mind-set.
When you try too hard to make the sale you:
Create stress in the prospect and in you
Cause sales pressure in the call
Cause the prospect to put up their "defensive wall"
Send red-flags to the prospects
This tactic in cold calling is still used however there is a better way. The new mind-set will teach you that it is important to find out if they are a fit...before you try to incorporate your product or service into the conversation.
Remember that pushing the sale on the prospect should not be your main goal or objective. You should first find out if your product or service can help them with their current issues...and treat them like a person and not another sale.
Understanding that red-flags cause tension between you and your prospect and this type of pressure will only bring on negative tension. Positive responses are what you will need to achieve a strong and trust building connection to those you are contacting. This positive attitude will also give you and your company respect in the eyes of your prospects improving the future of your company.
Use of old techniques will bring stereo-typing and bad publicity for yourself and your company which will affect your success in a negative way. Once you have learned to re-program your mind to feel comfortable talking with the prospects and not pushing the sales you will see the difference in how your prospects are responding to your calls. You will also see a positive response to your voicemails-emails-and any other ways you contact your prospects. Remember that cold calling doesn't have to be painful or uncomfortable.
If they person says "No" change it to a "Yes"; if they hang up you simply move to the next prospect. The numbers game of cold calling and is no longer needed to effectively cold call. With the new mind-set you will not have to feel stressed or bad for pushing the prospect for the sale...because the sale is not the main goal or objective in the new mind-set.
When you try too hard to make the sale you:
Create stress in the prospect and in you
Cause sales pressure in the call
Cause the prospect to put up their "defensive wall"
Send red-flags to the prospects
This tactic in cold calling is still used however there is a better way. The new mind-set will teach you that it is important to find out if they are a fit...before you try to incorporate your product or service into the conversation.
Remember that pushing the sale on the prospect should not be your main goal or objective. You should first find out if your product or service can help them with their current issues...and treat them like a person and not another sale.
Understanding that red-flags cause tension between you and your prospect and this type of pressure will only bring on negative tension. Positive responses are what you will need to achieve a strong and trust building connection to those you are contacting. This positive attitude will also give you and your company respect in the eyes of your prospects improving the future of your company.
Use of old techniques will bring stereo-typing and bad publicity for yourself and your company which will affect your success in a negative way. Once you have learned to re-program your mind to feel comfortable talking with the prospects and not pushing the sales you will see the difference in how your prospects are responding to your calls. You will also see a positive response to your voicemails-emails-and any other ways you contact your prospects. Remember that cold calling doesn't have to be painful or uncomfortable.
The Use of Scapegoats In Persuasion
"United We Stand". For a while there nearly every other car in the country had a bumper sticker appealing to us to stand united, implicitly suggesting that this was our only salvation, because what happens when we don't stand united? That's right. We fall divided.
Is this really true? If we buy into the idea at the core of the current political agenda (standing united, defeating terrorists, spreading democracy) will we all be just fine? Or in doing this do we blindly agree with an entire world of presuppositions?
With scapegoating, the best way to get us all on board-to unite-is to have a common enemy, a boogie man, a Satan, Saddam Hussein or a terrorist to rage against.
Christianity uses scapegoating: Satan. The government uses scapegoating: 1950's = Commies; 2000's = Terrorists. Most recently we have Scooter Libby. (Though the distinction has been made that he's more of a "fall guy" than a "scapegoat" because scapegoat implies using an innocent to pin the blame on while fall guy's usually share the blame.)
It was popular in Massachusetts during the Salem Witch Trials. By diverting attention away from the state and church as the cause for difficulties in people's lives, witches (read: women) were burned at the stake as the core cause of societies ills.
Religion is great for scapegoating. Adam blamed Eve, Eve blamed the serpent. The Baptists show how the Mormons miss the point and lead people astray and visa versa. In order for Christianity to exist, Satan is the 'necessary evil', so to speak. Without Satan there is nothing to save humanity from. The concept of Satan has single-handedly maintained Christianity throughout the years.
Again, I'm not debating the existence of Satan or pushing my religious or political beliefs, I am simply showing how this strategy is used.
There are multiple layers of scapegoating at play currently in politics. Focusing on gay marriage and stem cell research as scapegoats diverts attention from the body count in Iraq.
We saw scapegoating rise to the status of national phenomenon during the aftermath of Hurricane Katrina. It even got a new name: The Blame Game. The mayor blamed the governor and the president. The governor blamed the president and the mayor. The president congratulated his FEMA appointee and suggested things were going swell until he realized no one was buying it and then proceeded to blame the governor and the mayor. Some folks in the government even suggested that no one was to blame, it was a natural disaster.
Is this really true? If we buy into the idea at the core of the current political agenda (standing united, defeating terrorists, spreading democracy) will we all be just fine? Or in doing this do we blindly agree with an entire world of presuppositions?
With scapegoating, the best way to get us all on board-to unite-is to have a common enemy, a boogie man, a Satan, Saddam Hussein or a terrorist to rage against.
Christianity uses scapegoating: Satan. The government uses scapegoating: 1950's = Commies; 2000's = Terrorists. Most recently we have Scooter Libby. (Though the distinction has been made that he's more of a "fall guy" than a "scapegoat" because scapegoat implies using an innocent to pin the blame on while fall guy's usually share the blame.)
It was popular in Massachusetts during the Salem Witch Trials. By diverting attention away from the state and church as the cause for difficulties in people's lives, witches (read: women) were burned at the stake as the core cause of societies ills.
Religion is great for scapegoating. Adam blamed Eve, Eve blamed the serpent. The Baptists show how the Mormons miss the point and lead people astray and visa versa. In order for Christianity to exist, Satan is the 'necessary evil', so to speak. Without Satan there is nothing to save humanity from. The concept of Satan has single-handedly maintained Christianity throughout the years.
Again, I'm not debating the existence of Satan or pushing my religious or political beliefs, I am simply showing how this strategy is used.
There are multiple layers of scapegoating at play currently in politics. Focusing on gay marriage and stem cell research as scapegoats diverts attention from the body count in Iraq.
We saw scapegoating rise to the status of national phenomenon during the aftermath of Hurricane Katrina. It even got a new name: The Blame Game. The mayor blamed the governor and the president. The governor blamed the president and the mayor. The president congratulated his FEMA appointee and suggested things were going swell until he realized no one was buying it and then proceeded to blame the governor and the mayor. Some folks in the government even suggested that no one was to blame, it was a natural disaster.
Thursday, February 14, 2008
How to Increase Momentum in Your Sales Process
I recently was traveling through an airport and came across a kiosk selling customized music CD's. I approach the booth and was met with a warm, confident outstretched hand and a big "Hello, how's your day going?"
After we exchanged pleasantries I asked the guy "so what's this all about?" I expected to ask the question and then sit back and listen to the "spiel". He said, "We make customized music CD's for kids that includes the name of your child in the various songs over 40 times throughout the entire CD - do you have kids?" I nodded and he asked for one of their names. Thinking I was on a slippery slope to a lengthy demonstration I qualified my time by saying that I had a flight in a short while and didn't have a lot of time. He said, "no problem, you can go when you have to, it's easier and quicker to show you then it is to explain it, it'll only take a minute". I gave him one of my boy's names and true to his word he had a live presentation for me in less than 15 seconds.
While he was doing the demo he asked about my other kids names, their ages and if the music would be appropriate for the older boy. I said it wouldn't be. He asked if the other two boys were familiar with the two different kid's musicians he was playing and whether or not they liked the music. I said they were and they did. When the demo was over he said, "What do you think of that?" I mentioned it was very cool and that my boys would love to hear their name incorporated in their favorite music CD's. I then asked "how much?" He told me the price and then simply asked, "It takes 3 minutes to burn a customized CD, should I do one up for each boy with each of the different groups you just heard?"
Done deal. I'm happy because I got an early birthday present out of the way and my boys will love it.
There were a number of things this guy did right - let's have a look:
- Engage immediately. As soon as he saw me looking he approached me. Friendly, inviting and smiling are hard to resist.
- Excitement. He had a good response to my question, "what's this all about?" Why? Oh maybe because he hears it 1000 times a day! Prepare good answers to common questions that grab attention and create some excitement. Don't try to wing it all the time.
- Optimism. He was not deterred by my comment about having to go soon. He understands that catching your flight is on everyone's mind in an airport. He understands that it doesn't mean the person won't stay and listen, but that it is just the customers' escape route they are setting up in advance should they need it. Imagine how successful he would be if when someone said they only had a short while and he rushed them off with an informational brochure? Again, he had a good logical response. He alleviated my concerns by saying I could go any time and educated me as to how long it would take and what the benefit was to my hearing the presentation.
- Involvement. His odds of making a sale go up if he can get to a presentation so he asked for it right away. He had a smooth transition and a logical reason/benefit for me to hear the actual product not just hear him talk about it. Selling is leading. Are you taking the lead in your sales conversations?
- Professional presentation. The guy new what he was doing; he was practiced. He was quick and to the point and new exactly the best way to show value in his product. Can we say the same about the way we explain our products to people?
- Polite and not presumptuous. He got my input on what I thought about the product before moving to the next step of the sale. Do we get the clients involvement during the sales process? Are we asking confirmation questions to check our progress?
- Solid conclusion. He knew time was an issue. Why prolong the process? I saw the product and answered all the questions in a way that suggested this might be something I'd consider buying - what else is there? It's not complicated. He asked for the sale. He brought it to a logical conclusion by riding the momentum he had gained through a good interview and presentation. Standard sales practice: ask questions, demonstrate product, get feedback from the prospective buyer and, if positive, ask them to buy. Are you asking for the sale every time you present a product?
How often is the sales process all herky-jerky and unorganized because the sales person isn't leading? Make sure you have a plan for the more common questions and products you deal in. Don't complicate the process with unnecessary points and steps. Create momentum with a planned approach that leads the client to a buying decision.
1. Be optimistic
2. Interview and get acknowledgement of a need.
3. Present your product professionally and efficiently
4. Get feedback from the buyer.
5. Ask for the sale.
After we exchanged pleasantries I asked the guy "so what's this all about?" I expected to ask the question and then sit back and listen to the "spiel". He said, "We make customized music CD's for kids that includes the name of your child in the various songs over 40 times throughout the entire CD - do you have kids?" I nodded and he asked for one of their names. Thinking I was on a slippery slope to a lengthy demonstration I qualified my time by saying that I had a flight in a short while and didn't have a lot of time. He said, "no problem, you can go when you have to, it's easier and quicker to show you then it is to explain it, it'll only take a minute". I gave him one of my boy's names and true to his word he had a live presentation for me in less than 15 seconds.
While he was doing the demo he asked about my other kids names, their ages and if the music would be appropriate for the older boy. I said it wouldn't be. He asked if the other two boys were familiar with the two different kid's musicians he was playing and whether or not they liked the music. I said they were and they did. When the demo was over he said, "What do you think of that?" I mentioned it was very cool and that my boys would love to hear their name incorporated in their favorite music CD's. I then asked "how much?" He told me the price and then simply asked, "It takes 3 minutes to burn a customized CD, should I do one up for each boy with each of the different groups you just heard?"
Done deal. I'm happy because I got an early birthday present out of the way and my boys will love it.
There were a number of things this guy did right - let's have a look:
- Engage immediately. As soon as he saw me looking he approached me. Friendly, inviting and smiling are hard to resist.
- Excitement. He had a good response to my question, "what's this all about?" Why? Oh maybe because he hears it 1000 times a day! Prepare good answers to common questions that grab attention and create some excitement. Don't try to wing it all the time.
- Optimism. He was not deterred by my comment about having to go soon. He understands that catching your flight is on everyone's mind in an airport. He understands that it doesn't mean the person won't stay and listen, but that it is just the customers' escape route they are setting up in advance should they need it. Imagine how successful he would be if when someone said they only had a short while and he rushed them off with an informational brochure? Again, he had a good logical response. He alleviated my concerns by saying I could go any time and educated me as to how long it would take and what the benefit was to my hearing the presentation.
- Involvement. His odds of making a sale go up if he can get to a presentation so he asked for it right away. He had a smooth transition and a logical reason/benefit for me to hear the actual product not just hear him talk about it. Selling is leading. Are you taking the lead in your sales conversations?
- Professional presentation. The guy new what he was doing; he was practiced. He was quick and to the point and new exactly the best way to show value in his product. Can we say the same about the way we explain our products to people?
- Polite and not presumptuous. He got my input on what I thought about the product before moving to the next step of the sale. Do we get the clients involvement during the sales process? Are we asking confirmation questions to check our progress?
- Solid conclusion. He knew time was an issue. Why prolong the process? I saw the product and answered all the questions in a way that suggested this might be something I'd consider buying - what else is there? It's not complicated. He asked for the sale. He brought it to a logical conclusion by riding the momentum he had gained through a good interview and presentation. Standard sales practice: ask questions, demonstrate product, get feedback from the prospective buyer and, if positive, ask them to buy. Are you asking for the sale every time you present a product?
How often is the sales process all herky-jerky and unorganized because the sales person isn't leading? Make sure you have a plan for the more common questions and products you deal in. Don't complicate the process with unnecessary points and steps. Create momentum with a planned approach that leads the client to a buying decision.
1. Be optimistic
2. Interview and get acknowledgement of a need.
3. Present your product professionally and efficiently
4. Get feedback from the buyer.
5. Ask for the sale.
How To Rise Above Your Competition
I sell aircraft for a living, but I didn't get to that level of sales by accident. I paid my dues by selling various products, taking part in many, many sales training processes, owning a retail business, and finally becoming a master of promoting myself. Promoting yourself is another subject I'll be writing about soon. Currently, I sell jets by day and have an online business. Follow the steps below and you'll reach a new level of selling.
1. RESEARCH: If you remember nothing else, remember this: Always bring something of value to your prospect. He/she will appreciate your knowledge and be more apt to take your call again. Research your prospects competition, prepare a market report surveying the current trends, compare your prospects product/service to his/her competition. Give an analysis of past market trends and where you think the market is heading or why you feel the market is down trending/up trending. If you are selling something non tangible such as advertising, then prepare a report of how your advertising medium reaches more subscribers than the competition. Draw graphs and use concrete numbers in your report. Decision makers are usually very numbers oriented, they'll be interested to learn that 30% of their target audience doesn't listen to the country music radio station they are advertising on.
2. PRESENT: When you call to make your appointment, tell your prospect you have interesting information he'll want to know. I will use terms like, "The market is on-fire or holding steady" then give a brief description of why. Of course, save the real interesting info for your meeting. If you have to leave a message, get an email address from the receptionist or executive assistant, then send a follow up email with the same information you've left on his/her voice mail. This may seem a bit redundant, but it works and you'll be remembered. Once you are in front of your prospect or have phone contact, present your information. You'll want to present this information in a conversational manner, leaving him/her plenty of opportunity to comment. Be prepared to expound upon your findings.
3. DISCOVERY: As you present your research findings, ask questions about the company, the product/service. If you are speaking with the owner, ask about his/hers short term goals, long term goals for the business. If you make this a very relaxed conversational meeting, your prospect will be at ease and more willing to contribute to the conversation. Stay away from any questions which ask your prospect to disclose financial or otherwise private information. If you stumble and blurt out something that triggers a negative reaction, back pedal as quick as you can. Apologize and quickly move onto another subject. You'll be able to tell when and if he/she begins to relax again.
4. If you have a product which constitutes a short selling cycle then ask for the sale. I don't like to ask " How can I earn your business?" because it usually brings a stiff reply which gets you absolutely nowhere. My theory is you are the expert and you know how to earn their business. A good question might be " What is important to you?" Then fill the need he/she has described. If you have a product which constitutes a long sales cycle, I don't usually ask for the sale at this point. I offer to provide more information and to keep in touch.
5. Follow up with an email, letter, note card whatever you prefer. Just be sure to follow up. If they are close to making a decision of using your company/service then, start an email campaign making contact every few days. Again, remember to try to bring something of value. If you have absolutely nothing to offer, then ask if they have any further questions regarding the information you presented. You are developing a rapport and becoming a trusted source. If this is a long sales cycle, set them up on your calendar to receive more info in a month, six weeks, 3 months whatever is appropriate.
1. RESEARCH: If you remember nothing else, remember this: Always bring something of value to your prospect. He/she will appreciate your knowledge and be more apt to take your call again. Research your prospects competition, prepare a market report surveying the current trends, compare your prospects product/service to his/her competition. Give an analysis of past market trends and where you think the market is heading or why you feel the market is down trending/up trending. If you are selling something non tangible such as advertising, then prepare a report of how your advertising medium reaches more subscribers than the competition. Draw graphs and use concrete numbers in your report. Decision makers are usually very numbers oriented, they'll be interested to learn that 30% of their target audience doesn't listen to the country music radio station they are advertising on.
2. PRESENT: When you call to make your appointment, tell your prospect you have interesting information he'll want to know. I will use terms like, "The market is on-fire or holding steady" then give a brief description of why. Of course, save the real interesting info for your meeting. If you have to leave a message, get an email address from the receptionist or executive assistant, then send a follow up email with the same information you've left on his/her voice mail. This may seem a bit redundant, but it works and you'll be remembered. Once you are in front of your prospect or have phone contact, present your information. You'll want to present this information in a conversational manner, leaving him/her plenty of opportunity to comment. Be prepared to expound upon your findings.
3. DISCOVERY: As you present your research findings, ask questions about the company, the product/service. If you are speaking with the owner, ask about his/hers short term goals, long term goals for the business. If you make this a very relaxed conversational meeting, your prospect will be at ease and more willing to contribute to the conversation. Stay away from any questions which ask your prospect to disclose financial or otherwise private information. If you stumble and blurt out something that triggers a negative reaction, back pedal as quick as you can. Apologize and quickly move onto another subject. You'll be able to tell when and if he/she begins to relax again.
4. If you have a product which constitutes a short selling cycle then ask for the sale. I don't like to ask " How can I earn your business?" because it usually brings a stiff reply which gets you absolutely nowhere. My theory is you are the expert and you know how to earn their business. A good question might be " What is important to you?" Then fill the need he/she has described. If you have a product which constitutes a long sales cycle, I don't usually ask for the sale at this point. I offer to provide more information and to keep in touch.
5. Follow up with an email, letter, note card whatever you prefer. Just be sure to follow up. If they are close to making a decision of using your company/service then, start an email campaign making contact every few days. Again, remember to try to bring something of value. If you have absolutely nothing to offer, then ask if they have any further questions regarding the information you presented. You are developing a rapport and becoming a trusted source. If this is a long sales cycle, set them up on your calendar to receive more info in a month, six weeks, 3 months whatever is appropriate.
Wednesday, February 13, 2008
Sales Coaching - 3 Skills to Focus On
A sales professional's success is determined by your willingness to invest in yourself. There are two areas for personal development that most will invest in, and one area only Top Producers invest in. Those who aren't Top Producers never even think to invest in themselves in this way.
That's not to say you shouldn't invest in all three areas because you should. The two areas you're familiar with are self-improvement and sales process training. The area you may not be so familiar with is customer focus.
Self-improvement development is designed to help you to increase your personal productivity, enthusiasm, and energy level. Yes, you need to be focused on doing the things that directly lead to business with enthusiasm for what you have to offer and with an energy level that reflects your commitment. Salespeople who are lacking in these areas tend to be very busy doing lots of "things", but have little production to show for their efforts.
Sales training development is essential. There's no question you need the skills to prospect, present, overcome stalls and objections, and close the sale. Without proficiency in these key sales skills you struggle only landing the occasional easy sale.
Client focus development is the critical difference between the average salesperson and the Top Producer. When you've developed your client focus skills you're able to: clearly understand the clients goals and get the client to openly share those goals with you, you're able to work with the client to develop a plan for the accomplishment of those goals in a mutually engaging on-going conversation, and you're able to develop a relationship with the client based on integrity and accountability leading to repeat business and referrals.
That's not to say you shouldn't invest in all three areas because you should. The two areas you're familiar with are self-improvement and sales process training. The area you may not be so familiar with is customer focus.
Self-improvement development is designed to help you to increase your personal productivity, enthusiasm, and energy level. Yes, you need to be focused on doing the things that directly lead to business with enthusiasm for what you have to offer and with an energy level that reflects your commitment. Salespeople who are lacking in these areas tend to be very busy doing lots of "things", but have little production to show for their efforts.
Sales training development is essential. There's no question you need the skills to prospect, present, overcome stalls and objections, and close the sale. Without proficiency in these key sales skills you struggle only landing the occasional easy sale.
Client focus development is the critical difference between the average salesperson and the Top Producer. When you've developed your client focus skills you're able to: clearly understand the clients goals and get the client to openly share those goals with you, you're able to work with the client to develop a plan for the accomplishment of those goals in a mutually engaging on-going conversation, and you're able to develop a relationship with the client based on integrity and accountability leading to repeat business and referrals.
Sales Coaching - Outcome or Opportunity
Do you view prospecting as an outcome or an opportunity? Do you think of prospecting in terms of a process or an event? The way you answer those questions makes a big difference in the results you experience.
Many people view getting the attention of a prospect as the outcome. That's not a good thing, and it causes you to miss many opportunities. Getting the attention of a prospect is simply an opportunity for you to develop and continue a relationship with that prospect.
Most people who treat getting the attention of a prospect as an outcome aren't able to capitalize on that attention. That's because to them the appointment was what they wanted and what they got. They weren't necessarily able to convert that appointment into a client and they didn't have anywhere meaningful to go with the prospect once the appointment ended.
Oops, big mistake. You get yourself in these dead end situations because you think of prospecting and the appointment as an event when you should be thinking of them in terms of a process. Getting the attention of a prospect is the first step in a process that builds a relationship with the prospect leading to a meaningful sales conversation where you're both there for the same reason.
You're both agreeing to the appointment to determine if there is a reason for you to do business together. To have a process for prospecting you need a multi-step, perhaps even multi-media, plan to continue to connect with the prospect adding value to the prospect so the prospect wants to continue the relationship and know more. Throughout the process you're conditioning the prospect to hear from you and to respond to you. And that gives you the power to turn opportunities into business.
Many people view getting the attention of a prospect as the outcome. That's not a good thing, and it causes you to miss many opportunities. Getting the attention of a prospect is simply an opportunity for you to develop and continue a relationship with that prospect.
Most people who treat getting the attention of a prospect as an outcome aren't able to capitalize on that attention. That's because to them the appointment was what they wanted and what they got. They weren't necessarily able to convert that appointment into a client and they didn't have anywhere meaningful to go with the prospect once the appointment ended.
Oops, big mistake. You get yourself in these dead end situations because you think of prospecting and the appointment as an event when you should be thinking of them in terms of a process. Getting the attention of a prospect is the first step in a process that builds a relationship with the prospect leading to a meaningful sales conversation where you're both there for the same reason.
You're both agreeing to the appointment to determine if there is a reason for you to do business together. To have a process for prospecting you need a multi-step, perhaps even multi-media, plan to continue to connect with the prospect adding value to the prospect so the prospect wants to continue the relationship and know more. Throughout the process you're conditioning the prospect to hear from you and to respond to you. And that gives you the power to turn opportunities into business.
Monday, February 11, 2008
Here's How To Stop Giving Profits Away
At a home accessories and furniture store I saw a couple of large metal wall pieces I liked for my office. This place looked like a family-run operation. The owner saw my obvious interest in one, came over, and asked if I liked it.
I tried not showing too much emotion and asked how much better he could do. His reply was brilliant:
"These are almost double this amount at Robb & Stucky's (a high-end furniture store in Scottsdale). You can have it for only $295."
Great answer!
I'm always prepared to pay full price, but I also like to ask for the sport of it, and, well, because it works. So I then said,
"How much better can you do if I also get that one over there," pointing to a similar piece on the wall.
I expected something solid like, "Same thing with that one. Together, you'll double your savings from anywhere else."
Suddenly, though, he turned into a different person. He caved in, saying,
"Ah, well, OK, I can give you $75 off if you get both."
He gave away pure profit.
Here's something that's not too profound at first glance:
"A dollar in cash money or credit that you give away is always a dollar of lost profit."
However, this has enormous implications when you put it in the context of price objections, negotiations, and concessions, and also special offers, discounts, and incentives to purchase.
And with that context in mind, here's another piece of wisdom:
"The perception of the value of what you give away- in the mind of the receiver-can be greater than its price tag."
OK, so what does all this mean?
Here's an example. A printer had missed a deadline date for an order. It caused me inconvenience. In the past I've had printers who knocked something off the price when they screwed up. Instead, she apologized profusely, and recovered with this:
"Here's what I'm going to do for you. I've run 20% more than what you ordered, no charge. And the next time you do a black and white printing job like this, I'll throw in a second basic color at no charge."
If she would have knocked $100 off the bill, that would have cost her $100. I imagine she probably has to do at least $400 worth of business to make $100 net profit. Instead, she offered to give me 20% more than what I ordered, which cost her very little, since she probably ran 10% more than what I ordered anyway and would have just wasted it, and her additional cost was essentially just for the paper.
As for the second color on the next job, not only is that a clever way to ensure future business (kind of like having a gift certificate-who hasn't made a shopping trip to redeem it even if we didn't need anything?) but it also had a high perceived value to me because it's something I normally pay for.
Her only cost is to run the job through the press a second time, and for the colored ink (which she'd likely have on the press for another job anyway); again much less than the perceived dollar value.
Think of how you might be able to use these ideas to avoid giving away dollars in cash, and persuade people to buy, or buy more quickly.
Here are some ideas.
Understand what's important to them. Of course, all selling gets back to this. Money often takes a back seat to other priorities. For example, if you're in a price negotiation and you also know the buyer is under a time crunch, you could offer quicker delivery instead.
Give product instead of dollars. Instead of dropping price, throw in some additional products. Give them something they're not buying from you now. It gives them the opportunity to test something out, which could lead to future sales of that product. This also works great if they are a reseller. They can then make a profit from what you give them. Also, the actual retail price of the product could be much greater than the concession or discount they want, but your actual cost is lower.
I tried not showing too much emotion and asked how much better he could do. His reply was brilliant:
"These are almost double this amount at Robb & Stucky's (a high-end furniture store in Scottsdale). You can have it for only $295."
Great answer!
I'm always prepared to pay full price, but I also like to ask for the sport of it, and, well, because it works. So I then said,
"How much better can you do if I also get that one over there," pointing to a similar piece on the wall.
I expected something solid like, "Same thing with that one. Together, you'll double your savings from anywhere else."
Suddenly, though, he turned into a different person. He caved in, saying,
"Ah, well, OK, I can give you $75 off if you get both."
He gave away pure profit.
Here's something that's not too profound at first glance:
"A dollar in cash money or credit that you give away is always a dollar of lost profit."
However, this has enormous implications when you put it in the context of price objections, negotiations, and concessions, and also special offers, discounts, and incentives to purchase.
And with that context in mind, here's another piece of wisdom:
"The perception of the value of what you give away- in the mind of the receiver-can be greater than its price tag."
OK, so what does all this mean?
Here's an example. A printer had missed a deadline date for an order. It caused me inconvenience. In the past I've had printers who knocked something off the price when they screwed up. Instead, she apologized profusely, and recovered with this:
"Here's what I'm going to do for you. I've run 20% more than what you ordered, no charge. And the next time you do a black and white printing job like this, I'll throw in a second basic color at no charge."
If she would have knocked $100 off the bill, that would have cost her $100. I imagine she probably has to do at least $400 worth of business to make $100 net profit. Instead, she offered to give me 20% more than what I ordered, which cost her very little, since she probably ran 10% more than what I ordered anyway and would have just wasted it, and her additional cost was essentially just for the paper.
As for the second color on the next job, not only is that a clever way to ensure future business (kind of like having a gift certificate-who hasn't made a shopping trip to redeem it even if we didn't need anything?) but it also had a high perceived value to me because it's something I normally pay for.
Her only cost is to run the job through the press a second time, and for the colored ink (which she'd likely have on the press for another job anyway); again much less than the perceived dollar value.
Think of how you might be able to use these ideas to avoid giving away dollars in cash, and persuade people to buy, or buy more quickly.
Here are some ideas.
Understand what's important to them. Of course, all selling gets back to this. Money often takes a back seat to other priorities. For example, if you're in a price negotiation and you also know the buyer is under a time crunch, you could offer quicker delivery instead.
Give product instead of dollars. Instead of dropping price, throw in some additional products. Give them something they're not buying from you now. It gives them the opportunity to test something out, which could lead to future sales of that product. This also works great if they are a reseller. They can then make a profit from what you give them. Also, the actual retail price of the product could be much greater than the concession or discount they want, but your actual cost is lower.
Soft Sales Techniques for Specialty Law Firms
Lock Horns and Hobnob
Make use of past opponents for long-term business development and network development.
The world of specialty law is a small one. Throughout your career, you will encounter the same attorneys you have once argued against. By using the proper techniques, you can maintain good relationships with other lawyers in your field, whether they are your allies or your opponents. Take advantage of prime opportunities to get on friendly terms with an attorney you observed to be a good advocate for his or her client.
Also, note which executives participated in the case; they can also be very good sources of future legal business and networking opportunities.
Don't Lose Touch
After an acceptable time has passed and your opponent has had a chance to lick his or her wounds (or vise versa), reach out to them. Congratulate the fellow attorney for a stellar representation of his or her client, them invite them out for coffee or lunch.
Keep in touch by email. Send the acquaintance copies of articles that you think they might be interested in. Inquire about upcoming conferences or seminars you might both attend.
Keep in mind that future new business opportunities may come from referrals, even referrals from former opponents.
As I mentioned, business executives are also good contacts for networking. Try a more subtle approach to continual law firm marketing. If you service a company on a project basis, such as a merger, invite the inside counsel and executives in direct contact with you out for social events or to a conferences to deepen (and perhaps solidify) the business relationship.
Make use of past opponents for long-term business development and network development.
The world of specialty law is a small one. Throughout your career, you will encounter the same attorneys you have once argued against. By using the proper techniques, you can maintain good relationships with other lawyers in your field, whether they are your allies or your opponents. Take advantage of prime opportunities to get on friendly terms with an attorney you observed to be a good advocate for his or her client.
Also, note which executives participated in the case; they can also be very good sources of future legal business and networking opportunities.
Don't Lose Touch
After an acceptable time has passed and your opponent has had a chance to lick his or her wounds (or vise versa), reach out to them. Congratulate the fellow attorney for a stellar representation of his or her client, them invite them out for coffee or lunch.
Keep in touch by email. Send the acquaintance copies of articles that you think they might be interested in. Inquire about upcoming conferences or seminars you might both attend.
Keep in mind that future new business opportunities may come from referrals, even referrals from former opponents.
As I mentioned, business executives are also good contacts for networking. Try a more subtle approach to continual law firm marketing. If you service a company on a project basis, such as a merger, invite the inside counsel and executives in direct contact with you out for social events or to a conferences to deepen (and perhaps solidify) the business relationship.
Friday, February 8, 2008
Sales Coaching - 9 Mistakes That Will Cause You to Fail
I work with and am friends with a number of financial advisors. In a recent conversation with a veteran in the business we discussed the main reasons new advisors don't make it. Truthfully your odds of making it in the business are pretty slim if you just do what they tell you do to, but your actions determine your results and your future.
Lots of people enter the industry and only are rare few are still in the business after five years, and even fewer are successful. As we spoke we shared our experiences as to why so many people with so much potential fail from the perspective of the veteran who has seen people come and go like a revolving door, and the coach who works with the elite few who are committed to making it. By the end of our conversation we had a list of 9 mistakes those new to the business make that lead to their failure:
1. you still have a wage earner mind-set and lack the entrepreneurial drive to make it work no matter what
2. you think you're selling products
3. you don't understand that it's all about the relationships you're able to start and build
4. you lack focus, direction, and commitment causing you to get off track going in the wrong direction changing directions to chase the next great idea
5. you think you're different that you're a super star, but you're actions don't back up your bravado
6. you have a scarcity mentality and you're afraid to invest in yourself to develop the skills you need to succeed
7. you think you know what to do, but you don't know how to do it
8. you don't know what you don't know and you aren't trying to figure out what you don't know or how to know it
9. you confuse activity with results and burn out with little to show for your tremendous efforts.
Did you recognize any of those fatal mistakes in yourself, or are you thinking you aren't making those mistakes but you know others who are? I know the list is pretty harsh, but review it again and be harshly honest with yourself. If you aren't headed where you want to be it's pretty likely that one or more of those mistakes are getting in your way.
Lots of people enter the industry and only are rare few are still in the business after five years, and even fewer are successful. As we spoke we shared our experiences as to why so many people with so much potential fail from the perspective of the veteran who has seen people come and go like a revolving door, and the coach who works with the elite few who are committed to making it. By the end of our conversation we had a list of 9 mistakes those new to the business make that lead to their failure:
1. you still have a wage earner mind-set and lack the entrepreneurial drive to make it work no matter what
2. you think you're selling products
3. you don't understand that it's all about the relationships you're able to start and build
4. you lack focus, direction, and commitment causing you to get off track going in the wrong direction changing directions to chase the next great idea
5. you think you're different that you're a super star, but you're actions don't back up your bravado
6. you have a scarcity mentality and you're afraid to invest in yourself to develop the skills you need to succeed
7. you think you know what to do, but you don't know how to do it
8. you don't know what you don't know and you aren't trying to figure out what you don't know or how to know it
9. you confuse activity with results and burn out with little to show for your tremendous efforts.
Did you recognize any of those fatal mistakes in yourself, or are you thinking you aren't making those mistakes but you know others who are? I know the list is pretty harsh, but review it again and be harshly honest with yourself. If you aren't headed where you want to be it's pretty likely that one or more of those mistakes are getting in your way.
3 Key Elements For Cold Calling Effectiveness
When most people hear the words "cold calling" a wide range of emotions typically flood the mind and body, and most of which are less than pleasant. It is true that there are some drawbacks to cold calling, and it is certainly not the most glamorous and sexy tool for growing a business, however cold calling effectiveness, from a financial standpoint is the best way to put the most amount of people in front of what you have for the least amount of coin.
So you have decided to give cold calling a try despite what you may have heard about it. I think that you are making a very wise choice. Cold calling effectiveness takes a lot of work and dedication but the payoffs are astounding once you get into a rhythm and master the trade.
The 3 Key Elements Of Cold Calling Effectiveness:
1. You must have a Prospecting Script
This is a must. Some people say that you should go into the prospecting process flying blind and that a script will make you sound mechanical and will decrease your ability to be personable. I couldn't disagree more with that statement. Having a prospecting script actually allows you more flexibility by allowing you to be more personable. You need to have your script memorized, because it allows your words to flow from you naturally, rather than appearing to be forced off of the paper you are reading. It allows you to be more prepared, targeted, consistent and professional when you have a script. So don't go without one or you will not be maximizing your cold calling effectiveness.
2. You must have a system in place for tracking and analyzing your cold calling data.
I recommend using excel for tracking your data. What I mean by having an effective cold calling system, is to track and analyze your most pertinent pieces of data. I have assembled a list of what I track for you here:
-Name
-Number
-Time Zone
-Contact
-Disconnect
-Invite (Invited to a Presentation Call)
-Confirm (Confirmed that they would go)
-Call Back (Did they call you back)
-Attempt to Close
-Close
The first block of every column should have one of these titles representing the columns contents. Once they are in place you can easily sort your names and numbers by time zone and track your disconnects, wrong numbers, people you contacted etc. by simply putting an "x" in the box next to their name, that describes that particular lead the best.
3. Dial Prudently And Consistently
If you want to have cold calling effectiveness then you need to have a work hard mentality. I personally don't know a better way of getting a massive number of prospects that have a need want or a desire in front of your products and services, without breaking the bank, than cold calling. To maximize your cold calling effectiveness I recommend you dial between 150-200 leads per day for a total of about 800-1,000 per week. If you will make a commitment to yourself to do at least that number every week you will without a doubt become effective at cold calling.
So you have decided to give cold calling a try despite what you may have heard about it. I think that you are making a very wise choice. Cold calling effectiveness takes a lot of work and dedication but the payoffs are astounding once you get into a rhythm and master the trade.
The 3 Key Elements Of Cold Calling Effectiveness:
1. You must have a Prospecting Script
This is a must. Some people say that you should go into the prospecting process flying blind and that a script will make you sound mechanical and will decrease your ability to be personable. I couldn't disagree more with that statement. Having a prospecting script actually allows you more flexibility by allowing you to be more personable. You need to have your script memorized, because it allows your words to flow from you naturally, rather than appearing to be forced off of the paper you are reading. It allows you to be more prepared, targeted, consistent and professional when you have a script. So don't go without one or you will not be maximizing your cold calling effectiveness.
2. You must have a system in place for tracking and analyzing your cold calling data.
I recommend using excel for tracking your data. What I mean by having an effective cold calling system, is to track and analyze your most pertinent pieces of data. I have assembled a list of what I track for you here:
-Name
-Number
-Time Zone
-Contact
-Disconnect
-Invite (Invited to a Presentation Call)
-Confirm (Confirmed that they would go)
-Call Back (Did they call you back)
-Attempt to Close
-Close
The first block of every column should have one of these titles representing the columns contents. Once they are in place you can easily sort your names and numbers by time zone and track your disconnects, wrong numbers, people you contacted etc. by simply putting an "x" in the box next to their name, that describes that particular lead the best.
3. Dial Prudently And Consistently
If you want to have cold calling effectiveness then you need to have a work hard mentality. I personally don't know a better way of getting a massive number of prospects that have a need want or a desire in front of your products and services, without breaking the bank, than cold calling. To maximize your cold calling effectiveness I recommend you dial between 150-200 leads per day for a total of about 800-1,000 per week. If you will make a commitment to yourself to do at least that number every week you will without a doubt become effective at cold calling.
Thursday, February 7, 2008
Sales Campaign 101
When it is found necessary to sell a product there must be some definite series of plans by which sales are to be made. These plans make up what is commonly termed a sales campaign. Such plans may be made in outline; they may be worked out to the smallest detail. Obviously, where every possible means is to be used in making sales it will usually be preferable to make an outline of the scheme and fill in the details as far as possible. How far this will be possible will depend greatly upon the size and certainty of the plan which is to be pushed. A dealer with limited capital who wishes to exploit a new product will necessarily be unable to do much more than make a broad outline of the things he expects to do, and the general means by which he helps to accomplish them.
On the other hand, take the case of a large industrial in the jobbing trade. Suppose this to be a leading wholesaler of all kinds and grades of tobaccos. This huge industrial, having ample capital and far-reaching trade relations, decides to go into the retailing business. It is possible for such a concern to plan a campaign in detail for a year ahead. This campaign they can carry out as planned, for they have the trade experience from which to draw in making trade plans and the funds to put these plans in execution.
Trying Out. Business is uncertain. This uncertainty has brought about the use of methods the object of which is to determine whether or not a plan under consideration will pay. This is known as "trying out." The general scheme of try-outs is simplicity itself. Instead of risking a large sum on a venture of any kind, as small an amount as possible will be hazarded for the purpose of trying how the "paper plans" materialize. IT this test results favorably it is probable that the entire scheme may be made to go. If it fails it means that the plan must be remodeled.
Try-outs may be applied to schemes in general, but more commonly are used to determine the relative pulling powers of circulars, letters and advertisements.
Trying Out a Scheme. The ordinary method of trying out a scheme is as follows: A manufacturer may have a line of goods which he has never pushed, but for which he thinks there is a sale. He will make up enough of these goods to supply a small territory and then proceed to work that territory with the means that he has at hand. He is not able, of course, to do extensive publicity advertising or advertising for anything but direct sales in this territory, but he can use every other method of trade-getting that there is known. He may circularize the place, distributing samples, send out letters, co-operate with the dealer and use every means possible to work up a demand except conducting a general publicity campaign. Experience in the marketing of his regular product will help him in determining whether the results are such as to put his new product on a profitable basis.
Sure Schemes. This method of trying out a scheme is the opposite of that used by a large manufacturer or jobber, who has the money and who knows that his product will succeed. When the promoters of Uneeda Biscuit started out they did not need to make any try out, for they were satisfied that the scheme was all right and that it would pay. To quote a later example, when the same firm which had made such a success of a certain well known breakfast food decided to put out another similar product they did not need to make any try-out in a limited territory, for the experience of the promoters and the field for the product made it sure that the marketing would be a success.
For a large manufacturer or jobber there is one thing to be remembered, that the try-out does not get the impetus that a campaign does. As a general thing, a sales campaign will not reach its "gait" until everything has gotten to running smoothly. In a try-out campaign the employees who are handling it cannot become thoroughly accustomed to their work; then each may not have the faith in the product that the promoter does; finally, unforeseen obstacles are all the while coming up. This explains the reason why in marketing a product that so many times it is necessary to put a great deal more money and energy into a campaign than was originally planned.
On the other hand, take the case of a large industrial in the jobbing trade. Suppose this to be a leading wholesaler of all kinds and grades of tobaccos. This huge industrial, having ample capital and far-reaching trade relations, decides to go into the retailing business. It is possible for such a concern to plan a campaign in detail for a year ahead. This campaign they can carry out as planned, for they have the trade experience from which to draw in making trade plans and the funds to put these plans in execution.
Trying Out. Business is uncertain. This uncertainty has brought about the use of methods the object of which is to determine whether or not a plan under consideration will pay. This is known as "trying out." The general scheme of try-outs is simplicity itself. Instead of risking a large sum on a venture of any kind, as small an amount as possible will be hazarded for the purpose of trying how the "paper plans" materialize. IT this test results favorably it is probable that the entire scheme may be made to go. If it fails it means that the plan must be remodeled.
Try-outs may be applied to schemes in general, but more commonly are used to determine the relative pulling powers of circulars, letters and advertisements.
Trying Out a Scheme. The ordinary method of trying out a scheme is as follows: A manufacturer may have a line of goods which he has never pushed, but for which he thinks there is a sale. He will make up enough of these goods to supply a small territory and then proceed to work that territory with the means that he has at hand. He is not able, of course, to do extensive publicity advertising or advertising for anything but direct sales in this territory, but he can use every other method of trade-getting that there is known. He may circularize the place, distributing samples, send out letters, co-operate with the dealer and use every means possible to work up a demand except conducting a general publicity campaign. Experience in the marketing of his regular product will help him in determining whether the results are such as to put his new product on a profitable basis.
Sure Schemes. This method of trying out a scheme is the opposite of that used by a large manufacturer or jobber, who has the money and who knows that his product will succeed. When the promoters of Uneeda Biscuit started out they did not need to make any try out, for they were satisfied that the scheme was all right and that it would pay. To quote a later example, when the same firm which had made such a success of a certain well known breakfast food decided to put out another similar product they did not need to make any try-out in a limited territory, for the experience of the promoters and the field for the product made it sure that the marketing would be a success.
For a large manufacturer or jobber there is one thing to be remembered, that the try-out does not get the impetus that a campaign does. As a general thing, a sales campaign will not reach its "gait" until everything has gotten to running smoothly. In a try-out campaign the employees who are handling it cannot become thoroughly accustomed to their work; then each may not have the faith in the product that the promoter does; finally, unforeseen obstacles are all the while coming up. This explains the reason why in marketing a product that so many times it is necessary to put a great deal more money and energy into a campaign than was originally planned.
Prejudging Your Customer
Yes I know this is something you never do & you've read it all before.
However when its blatant & it happens to me "to right" I'm going to share it...
Ive just spend the weekend in the Capital, here in New Zealand that is Wellington. My kids for the last few years have been hounding me to buy them a motor-bike to burn up and down the beach on. So we have sort of made a bit of a habit of stopping & browsing in motorbike shops & this weekend was no exception.
I had just started to gather a bit of speed after going thru an intersection when the voice from the back seat shouts bike shop - believe me it's better to stop than listen to the moaning for the rest of the day. So that's what we did.
With Harley's, Buell's & a number of others lined up on the street it created quite a first impression - When we walked thru the doors the place was bulging at the seams with stock - as you can imagine the kids were excited pulling me from one bike to the next.
In total we spend about 15 minutes in the store & in that time not one sales person approached us - I did a quick tally up & staff out numbered us 2-1. I guess we didn't look like bikers as while we were there a couple walked in dress in their leathers & were hit on before they time to catch a breath.
The opening line was so lame - CAN I HELP - the answer was always going to be no - I couldn't believe what happened next they were asked if they wanted a coffee - nice gesture however lousy timing as no relationship had been build.
I know what you are thinking we were not buyers & that is true on the occasion - as it turns out nor were the couple in leathers.
What was the difference between us & them? Only appearance & the salespersons perception - However the only thing they got right on this occasion is that we weren't buyers - but alas if we were buying the stage had been set & we would be spending elsewhere. The secondary damage that comes with the lack of customer service is my how fast word of mouth travels. This is something I will not do intentionally but I'm sure will come up in conversation from time to time.
I guess what I am alluring to is how many lost opportunities this firm & thousands of others miss out on each year due to prejudging their potential customers with poor customer service .
However when its blatant & it happens to me "to right" I'm going to share it...
Ive just spend the weekend in the Capital, here in New Zealand that is Wellington. My kids for the last few years have been hounding me to buy them a motor-bike to burn up and down the beach on. So we have sort of made a bit of a habit of stopping & browsing in motorbike shops & this weekend was no exception.
I had just started to gather a bit of speed after going thru an intersection when the voice from the back seat shouts bike shop - believe me it's better to stop than listen to the moaning for the rest of the day. So that's what we did.
With Harley's, Buell's & a number of others lined up on the street it created quite a first impression - When we walked thru the doors the place was bulging at the seams with stock - as you can imagine the kids were excited pulling me from one bike to the next.
In total we spend about 15 minutes in the store & in that time not one sales person approached us - I did a quick tally up & staff out numbered us 2-1. I guess we didn't look like bikers as while we were there a couple walked in dress in their leathers & were hit on before they time to catch a breath.
The opening line was so lame - CAN I HELP - the answer was always going to be no - I couldn't believe what happened next they were asked if they wanted a coffee - nice gesture however lousy timing as no relationship had been build.
I know what you are thinking we were not buyers & that is true on the occasion - as it turns out nor were the couple in leathers.
What was the difference between us & them? Only appearance & the salespersons perception - However the only thing they got right on this occasion is that we weren't buyers - but alas if we were buying the stage had been set & we would be spending elsewhere. The secondary damage that comes with the lack of customer service is my how fast word of mouth travels. This is something I will not do intentionally but I'm sure will come up in conversation from time to time.
I guess what I am alluring to is how many lost opportunities this firm & thousands of others miss out on each year due to prejudging their potential customers with poor customer service .
Wednesday, February 6, 2008
Six Tips For Effective Selling In A Tough Economy
1). Begin your day in pursuit of written goals. Many people feel that they don't need to write out their goals. Taking the time to hand-write your goals is an exercise in purpose and intent. It is a physical transmission from your conscious mind to a piece of paper. When you read your written goals daily (at the beginning and the end of each day, and as many times as you wish throughout the day), you are imprinting them upon your subconscious mind. Doing so empowers you to achieve them. When you simply "commit your goals to memory," you are at the mercy of every doubt and distraction and setback you face each day.
2). Choose your traveling companions wisely. It is said that you are the average of the five people you spend the most time with. Do you surround yourself with positive, optimistic people? Once again, the conscious mind is the gateway to the subconscious mind. Positive people and positive thoughts result in positive reinforcement of what you hold in your subconscious mind.
3). Limit your exposure to newspapers, cable news, and Internet news. It is good to be up to date on current events. It provides you with a means to converse with friends, family, and business associates in a relaxed manner. However, when you immerse yourself in negative stories about where the economy might be headed, you are surrendering to the opinion of the person who wrote that story. The economy is in a constant state of flux. News stories on the state of the economy in a year, a month, or a week are nothing more than projections and educated guesses. Do not surrender your energy and enthusiasm to someone's opinion. Deal with the facts that you see before you, today, right now in this very minute. Stay focused on what you want to accomplish.
4). Spend a minimum of 30 minutes each day in "quiet time." Find a place where you can remove yourself from noise and distractions. Visualize the successful completion of each of your written goals. Refuse to allow any mental picture that does not energize you to keep moving forward.
5). Contact your current customers on a regular basis, even if they're not buying. Be respectful of their time. If you find an article that might be of interest to them, print a copy, attach a hand written note, and drop it in the mail. Find a "value-added" way to remind them on a regular basis that your relationship with them is a priority.
6). Read about men and women who achieved great success in the worst of times. In his book How To Sell Your Way Through Life, Napoleon Hill tells the story of how he secured newspaper advertising space for his talks at a time when he had no money. It was during the Great Depression, and Hill remained focused on his goals and decided that he was not going to wait for his situation to change. He changed it himself by taking purposeful, confident action.
By following each of these steps on a daily basis, you will distance yourself from the majority of your competitors. You will not refrain from taking action because of external circumstances. You will continue to move toward your goals in spite of the things you see on television and read in the newspapers or on the Web. Throughout history, success-driven men and women have prospered in tough economic times. Make the decision to become one of them.
2). Choose your traveling companions wisely. It is said that you are the average of the five people you spend the most time with. Do you surround yourself with positive, optimistic people? Once again, the conscious mind is the gateway to the subconscious mind. Positive people and positive thoughts result in positive reinforcement of what you hold in your subconscious mind.
3). Limit your exposure to newspapers, cable news, and Internet news. It is good to be up to date on current events. It provides you with a means to converse with friends, family, and business associates in a relaxed manner. However, when you immerse yourself in negative stories about where the economy might be headed, you are surrendering to the opinion of the person who wrote that story. The economy is in a constant state of flux. News stories on the state of the economy in a year, a month, or a week are nothing more than projections and educated guesses. Do not surrender your energy and enthusiasm to someone's opinion. Deal with the facts that you see before you, today, right now in this very minute. Stay focused on what you want to accomplish.
4). Spend a minimum of 30 minutes each day in "quiet time." Find a place where you can remove yourself from noise and distractions. Visualize the successful completion of each of your written goals. Refuse to allow any mental picture that does not energize you to keep moving forward.
5). Contact your current customers on a regular basis, even if they're not buying. Be respectful of their time. If you find an article that might be of interest to them, print a copy, attach a hand written note, and drop it in the mail. Find a "value-added" way to remind them on a regular basis that your relationship with them is a priority.
6). Read about men and women who achieved great success in the worst of times. In his book How To Sell Your Way Through Life, Napoleon Hill tells the story of how he secured newspaper advertising space for his talks at a time when he had no money. It was during the Great Depression, and Hill remained focused on his goals and decided that he was not going to wait for his situation to change. He changed it himself by taking purposeful, confident action.
By following each of these steps on a daily basis, you will distance yourself from the majority of your competitors. You will not refrain from taking action because of external circumstances. You will continue to move toward your goals in spite of the things you see on television and read in the newspapers or on the Web. Throughout history, success-driven men and women have prospered in tough economic times. Make the decision to become one of them.
Spare Parts - Segmenting Personality for Sales Persuasion
What is a part? If I say, a part of me wants this and a part of me wants that, what am I talking about? What are those things? Well, for one thing, it's a way of talking about our experience.
However, consider from here on out that words are things, they are real, they exist, as surely as the computer I'm looking at right now and the keyboard I am typing on and the books I can see in my peripheral vision.
Words are things and when someone says, 'A part of me. . . ' this or that, they are fragmenting/segmenting themselves, making a part, in other words, a fractionalized subsection of themselves, that has responsibilities for and energy to accomplish certain things, not the least of which is to tell you no, or object to you and the products or services you are selling.
Whenever I hear a person saying they have a 'part', I pretty well darn near jump for joy because I know that they are fractionated inside and I can seize control of one or many of those parts and make it do whatever I want for the most part.
The minute I hear part, or any reference to another name, an alternate name, my unconscious, a deeper part of who I am, my psyche, my ego, id, any words that indicate a part, I'm thrilled because immediately in my mind, I'm thinking, that part and I are going to be really good friends.
One of the nice things about parts is, they are very outside of people's awareness. When they do surface, it's only a bit of a surface of that part you can extend it, elaborate upon it, and give it more power, power that the person never intended for it to have, and maneuver it to your advantage.
To the same end, you must be careful that you don't split yourself into lots and lots of parts or you risk running the same things on yourself.
A part is really a frame, a frame that lives autonomously to the individual who calls it, who says it. So how can you create a part in someone? Well, by naming it and identifying it, you create it. Naming and identifying is key here. If we name a part, we give that part power. And if we frame that part through the way in which we talk about it, we're in control of that part to a large extent.
Parts give us leverage. We can assign an objection to a part and then we can assign another part to overcome it. We can assign a part that overcomes an objection with a part that objects, and we can blend the parts, watering down the part that has the objection.
We can pit parts against each other. We can have senior parts, we can have junior parts, we have an all knowing part, a part that connects directly to God, we can have parts that resolve things, we can have negotiator parts, we can have all kinds of parts, we can have persuader parts.
However, consider from here on out that words are things, they are real, they exist, as surely as the computer I'm looking at right now and the keyboard I am typing on and the books I can see in my peripheral vision.
Words are things and when someone says, 'A part of me. . . ' this or that, they are fragmenting/segmenting themselves, making a part, in other words, a fractionalized subsection of themselves, that has responsibilities for and energy to accomplish certain things, not the least of which is to tell you no, or object to you and the products or services you are selling.
Whenever I hear a person saying they have a 'part', I pretty well darn near jump for joy because I know that they are fractionated inside and I can seize control of one or many of those parts and make it do whatever I want for the most part.
The minute I hear part, or any reference to another name, an alternate name, my unconscious, a deeper part of who I am, my psyche, my ego, id, any words that indicate a part, I'm thrilled because immediately in my mind, I'm thinking, that part and I are going to be really good friends.
One of the nice things about parts is, they are very outside of people's awareness. When they do surface, it's only a bit of a surface of that part you can extend it, elaborate upon it, and give it more power, power that the person never intended for it to have, and maneuver it to your advantage.
To the same end, you must be careful that you don't split yourself into lots and lots of parts or you risk running the same things on yourself.
A part is really a frame, a frame that lives autonomously to the individual who calls it, who says it. So how can you create a part in someone? Well, by naming it and identifying it, you create it. Naming and identifying is key here. If we name a part, we give that part power. And if we frame that part through the way in which we talk about it, we're in control of that part to a large extent.
Parts give us leverage. We can assign an objection to a part and then we can assign another part to overcome it. We can assign a part that overcomes an objection with a part that objects, and we can blend the parts, watering down the part that has the objection.
We can pit parts against each other. We can have senior parts, we can have junior parts, we have an all knowing part, a part that connects directly to God, we can have parts that resolve things, we can have negotiator parts, we can have all kinds of parts, we can have persuader parts.
Monday, February 4, 2008
How to Make the Fee of Your Care Seem Cheap - Even If It's Not
One of the several great educational experiences I've had was studying sales and marketing in a wide range of industries and one industry that I studied was the aluminum-siding business. Today, I'm going to tell you something I learned from this industry --a secret you should be using every time you deliver your Results of Test Consultation.
The typical aluminum-siding "package" sold in the sixties, retailed at $2,600. That was a lot of money back in 1967, especially in the working-class neighborhoods that were targeted. Like all good selling pitches, the focus was on the benefits first. Salesmen did a very good job helping their prospex imagine how much better, easier, and fuller their lives would be once the asbestos shingles that covered their homes were hidden beneath a fine, shiny facade of bright, white aluminum.
It's what happened after they made those big promises that I want to talk about today -- what they used to do after the sale was made. By that, I mean after the prospect had emotionally committed to owning the aluminum siding but before he found out how expensive it was.
This is a critical part of any sales presentation, but it's especially sensitive when the potential customer has little or no idea of the product's price. The challenge: Now that you've lodged a hook deep into your prospex heart, how do you get his brain to interpret your price as a good deal?
An inexperienced salesperson might want to break the price to the prospect slowly -- by, for example, quoting first the cost of the gutters and leaders (say, $400), then the cost of the underhangs and fascia (another $400), then the windows and doors ($800), and finally the siding itself ($1,000). But, though logical, this method doesn't work very well.
"If you want to make a liverwurst look cheap," a sales trainer told me, "say it's pâté."
If I didn't understand what he meant when he first said that, the principle became clear when I saw the concept in action. After getting some young couple to "imagine" how much nicer their house would look clad in aluminum, how much the neighbors would admire them, and how generally happy they'd be, the salesman would ask them, "Now, Mr. and Mrs. Smith, tell me this --- how much would you guess it would cost you to cover your house in solid oak?"
"Oak?" they would ask. "But we thought..."
"I'm serious," the salesman would insist. "How much would it cost?"
It was the husbands who always ventured the first guess. "I don't know. Maybe $5,000?"
"$5,000?" The salesman would look at the wife. "Do you think you could do it for $5,000?"
"Gee, I don't know. Probably not."
The number would go up. $6,000. $7,000. $8,000. To each new estimate, the salesman would shake his head sadly and say, "You should be so lucky."
Then, the salesman would pause for a good while, giving the frazzled customers a chance to imagine how they were going to come up with the $10,000 this was bound to cost, and then "hit them with the zinger" (as they liked to call it back then): "Let me give you 10 good reasons why aluminum siding is better than solid oak!"
It wasn't logical, but it was effective. By the time the salesman finished enumerating the 10 reasons aluminum was better than oak, they were mentally prepared to spend $10,000. When they were told they'd have to fork out only $2,800, they practically jumped with joy.
This trick has a long history in the business of selling. It's been a mainstay of many of the best salespeople I know. Yes, it's very powerful. It's also very effective and surprisingly adaptable. In fact, it should probably be a key part of every patient consultation that is made by you or your Associates.
In his book "The Psychology of Influence," Robert Cialdini puts a label to this technique. He calls it "the principal of contrast" and illustrates it with a story he heard from Leo Rosten about the Drubeck brothers, Sid and Harry, who owned a men's tailor shop in Rosten's neighborhood while he was growing up in the 1930s:
"Whenever the salesman, Sid, had a new customer trying on suits in front of the shop's three-sided mirror, he would admit to a hearing problem, and, as they talked, he would repeatedly request that the man speak more loudly to him. Once the customer had found a suit he liked and asked for the price, Sid would call to his brother, the head tailor, at the back of the room: 'Harry, how much for this suit?' Looking up from his work -- and greatly exaggerating the suit's true price -- Harry would call back: 'For that beautiful all-wool suit, $42.' Pretending not to have heard and cupping his hand to his ear, Sid would ask again. Once more, Harry would reply '$42.' At this point, Sid would turn to the customer and report: 'He says $22.' Many a man would hurry to buy the suit and scramble out of the shop with his 'bargain' before Poor Sid discovered the 'mistake.'"
It's not always true, but most people --- most of the time --- like a bargain. We not only want what we want and what we hope it will give us, we also want to pay the "right" price for it. The best way to make the price of your brand of chiropractic seem "right" is to contrast it to something similar that costs more. If you happen to sell inexpensive CZ diamonds, this isn't difficult. The stones you can sell for $5 or $10 apiece look every bit as good as the authentic ones going for 1,000 times that price.
But if the price you are asking isn't such an obvious bargain, you need to be more creative. Instead of comparing your brand of chiropractic to similar ones that cost the same, find (or create) something special about your brand that makes it unique. Focus on that unique selling proposition and you will be able to come up with a script allowing you to contrast your product or service with something much more valuable.
I did that early in my career when I compared subscribing to a $100 newsletter I was marketing to joining an expensive marketing club (which sounded as if it should cost $1,000). I've done it hundreds of times since in all sorts of creative ways. You can too.
The principle of contrast is sometimes used to create additional sales. It's done in direct marketing all the time by selling the main item first at one price and then additional similar items at a discount.
When I go to buy a new wardrobe at Armani every year, Carole, my "personal consultant", uses the principle of contrast to get me to spend a ton of money on "accessories." Here's how she does it:
First, she sells me on the suit. That is usually expensive -- sometimes $1,000 or more. After that's done, I'm feeling finished -- but Carole's not finished with me. She takes me over to the shirt counter to show me some shirts that "will go sensationally" with the suit I just bought. These shirts are expensive --- usually more than $200 each. I don't normally pay that much for shirts, but after laying out so much on the suit, they seem cheap. When Carole is done selling me two or three overpriced (but, by contrast, seemingly cheap) shirts, she hits me with the $170 ties. I'm lucky to get out of Carole's grasp at twice the price of the suit.
A real-estate broker I know, uses the principle of contrast to get his clients to buy more real estate. If I tell him I'm in the market for a two-bedroom house off Atlantic Avenue for about $250,000, he'll be sure to first show me at least one or two of the same size and description that are overpriced. After being disappointed to see a couple of so-so houses priced at $300,000 and $325,000, I'll be thrilled to find one at a mere $275,000 -- $25,000 more than I was prepared to pay, but a bargain in contrast to what I had just seen.
The typical aluminum-siding "package" sold in the sixties, retailed at $2,600. That was a lot of money back in 1967, especially in the working-class neighborhoods that were targeted. Like all good selling pitches, the focus was on the benefits first. Salesmen did a very good job helping their prospex imagine how much better, easier, and fuller their lives would be once the asbestos shingles that covered their homes were hidden beneath a fine, shiny facade of bright, white aluminum.
It's what happened after they made those big promises that I want to talk about today -- what they used to do after the sale was made. By that, I mean after the prospect had emotionally committed to owning the aluminum siding but before he found out how expensive it was.
This is a critical part of any sales presentation, but it's especially sensitive when the potential customer has little or no idea of the product's price. The challenge: Now that you've lodged a hook deep into your prospex heart, how do you get his brain to interpret your price as a good deal?
An inexperienced salesperson might want to break the price to the prospect slowly -- by, for example, quoting first the cost of the gutters and leaders (say, $400), then the cost of the underhangs and fascia (another $400), then the windows and doors ($800), and finally the siding itself ($1,000). But, though logical, this method doesn't work very well.
"If you want to make a liverwurst look cheap," a sales trainer told me, "say it's pâté."
If I didn't understand what he meant when he first said that, the principle became clear when I saw the concept in action. After getting some young couple to "imagine" how much nicer their house would look clad in aluminum, how much the neighbors would admire them, and how generally happy they'd be, the salesman would ask them, "Now, Mr. and Mrs. Smith, tell me this --- how much would you guess it would cost you to cover your house in solid oak?"
"Oak?" they would ask. "But we thought..."
"I'm serious," the salesman would insist. "How much would it cost?"
It was the husbands who always ventured the first guess. "I don't know. Maybe $5,000?"
"$5,000?" The salesman would look at the wife. "Do you think you could do it for $5,000?"
"Gee, I don't know. Probably not."
The number would go up. $6,000. $7,000. $8,000. To each new estimate, the salesman would shake his head sadly and say, "You should be so lucky."
Then, the salesman would pause for a good while, giving the frazzled customers a chance to imagine how they were going to come up with the $10,000 this was bound to cost, and then "hit them with the zinger" (as they liked to call it back then): "Let me give you 10 good reasons why aluminum siding is better than solid oak!"
It wasn't logical, but it was effective. By the time the salesman finished enumerating the 10 reasons aluminum was better than oak, they were mentally prepared to spend $10,000. When they were told they'd have to fork out only $2,800, they practically jumped with joy.
This trick has a long history in the business of selling. It's been a mainstay of many of the best salespeople I know. Yes, it's very powerful. It's also very effective and surprisingly adaptable. In fact, it should probably be a key part of every patient consultation that is made by you or your Associates.
In his book "The Psychology of Influence," Robert Cialdini puts a label to this technique. He calls it "the principal of contrast" and illustrates it with a story he heard from Leo Rosten about the Drubeck brothers, Sid and Harry, who owned a men's tailor shop in Rosten's neighborhood while he was growing up in the 1930s:
"Whenever the salesman, Sid, had a new customer trying on suits in front of the shop's three-sided mirror, he would admit to a hearing problem, and, as they talked, he would repeatedly request that the man speak more loudly to him. Once the customer had found a suit he liked and asked for the price, Sid would call to his brother, the head tailor, at the back of the room: 'Harry, how much for this suit?' Looking up from his work -- and greatly exaggerating the suit's true price -- Harry would call back: 'For that beautiful all-wool suit, $42.' Pretending not to have heard and cupping his hand to his ear, Sid would ask again. Once more, Harry would reply '$42.' At this point, Sid would turn to the customer and report: 'He says $22.' Many a man would hurry to buy the suit and scramble out of the shop with his 'bargain' before Poor Sid discovered the 'mistake.'"
It's not always true, but most people --- most of the time --- like a bargain. We not only want what we want and what we hope it will give us, we also want to pay the "right" price for it. The best way to make the price of your brand of chiropractic seem "right" is to contrast it to something similar that costs more. If you happen to sell inexpensive CZ diamonds, this isn't difficult. The stones you can sell for $5 or $10 apiece look every bit as good as the authentic ones going for 1,000 times that price.
But if the price you are asking isn't such an obvious bargain, you need to be more creative. Instead of comparing your brand of chiropractic to similar ones that cost the same, find (or create) something special about your brand that makes it unique. Focus on that unique selling proposition and you will be able to come up with a script allowing you to contrast your product or service with something much more valuable.
I did that early in my career when I compared subscribing to a $100 newsletter I was marketing to joining an expensive marketing club (which sounded as if it should cost $1,000). I've done it hundreds of times since in all sorts of creative ways. You can too.
The principle of contrast is sometimes used to create additional sales. It's done in direct marketing all the time by selling the main item first at one price and then additional similar items at a discount.
When I go to buy a new wardrobe at Armani every year, Carole, my "personal consultant", uses the principle of contrast to get me to spend a ton of money on "accessories." Here's how she does it:
First, she sells me on the suit. That is usually expensive -- sometimes $1,000 or more. After that's done, I'm feeling finished -- but Carole's not finished with me. She takes me over to the shirt counter to show me some shirts that "will go sensationally" with the suit I just bought. These shirts are expensive --- usually more than $200 each. I don't normally pay that much for shirts, but after laying out so much on the suit, they seem cheap. When Carole is done selling me two or three overpriced (but, by contrast, seemingly cheap) shirts, she hits me with the $170 ties. I'm lucky to get out of Carole's grasp at twice the price of the suit.
A real-estate broker I know, uses the principle of contrast to get his clients to buy more real estate. If I tell him I'm in the market for a two-bedroom house off Atlantic Avenue for about $250,000, he'll be sure to first show me at least one or two of the same size and description that are overpriced. After being disappointed to see a couple of so-so houses priced at $300,000 and $325,000, I'll be thrilled to find one at a mere $275,000 -- $25,000 more than I was prepared to pay, but a bargain in contrast to what I had just seen.
The Overlooked Sales Skill That Will Help You Close More Business
While at first the question as to whether you are hearing the words or are actually listening may seem a bit incongruous, the truth is that although hearing and listening may seem the same, they are definitely not synonymous. Just because you hear something, doesn't mean you are actually listening. And when it comes to being an excellent salesperson, being a good listener is primary to your success.
Hearing and Listening Are Not Synonymous
So, what is the difference between hearing and listening? By way of explanation, hearing involves sounds, while listening requires concentration. Hearing is involuntary, while listening is an option. In effect, hearing simply means you are gathering information from the world around you, but it doesn't necessarily mean you are listening. When someone is listening, they are paying attention. Top sales professionals are good at what they do because they know the difference. They are the ones who have mastered the art of sales techniques because they know how important it is to develop the skill of listening. In short, when used effectively, listening is a strategic sales tool that superior salespeople develop for maximum results.
Strategic Sales Techniques
In our every day activities, we hear sounds, and short of wearing earplugs, we have very little control over the sounds we hear. For those with good hearing, we don't simply turn off or turn on our hearing abilities; it's just there. As a result, when someone talks, you may hear their voice uttering sounds, but you may not be listening to what they actually say. By way of illustration, ask any married couple how they hear each other and you'll get very different and very interesting responses. When one doesn't want to hear what the other person is saying, they are really good at turning off their listening abilities. But when it comes to implementing professional selling skills, you cannot and should not turn off your listening abilities. Why? Because you will miss a lot of important clues regarding your potential client's needs. When you turn on your listening skills and truly understand what's being said, you've begun to understand the skill that has eluded the masses. You have in fact, begun mastering professional selling skills. Professional Selling Skills
To explain in a little more detail, think back to your days in school, when you were bombarded with all those reading comprehension tests. Do you remember how many times you might have read something, yet you didn't fully grasp what it said? Just because you read it over and over did not mean you fully understood it. Now, I'm all for "Comprehension" tests, but what we really need in our schools are listening tests. We were given a lot of comprehension and even hearing tests, but no one seems to be aware of the importance of listening. And throughout my years of sales training, I've observed that people who become top sales professionals are good at listening. They are the ones that ultimately make all the money in the marketplace.
Sales Skills Training
Having trained countless sales reps for the past 30 years, I will often ask participants in my sales training programs about their listening skills and whether they believe they are good at listening. More often than not, I hear them say, "I don't think it's a problem." Yet, nothing could be further from the truth. The reason? Most salespeople are not even aware of their listening skills. And because they are on the front line exchanging information daily with existing and potential clients, the information they harvest can and will have a tremendous effect on their sales skills. Consequently, it is critically important that salespeople learn how to listen correctly, although more often than not, they don't believe in its importance. Improving Our Listening Skills And Close More Sales Okay, now that we've defined the difference between hearing and listening, and their importance, let's see what we can do to fix the problem by improving on our listening skills. Let's start with the fact that for the most part, humans actually think faster than they listen and so in order to correct the problem a sales rep must find a way to improve the condition of his or her listening. But how? The answer is simple! A good salesperson will "decide" that they are going to develop good listening skills even if it takes some effort. And no matter how hard it may be, they will implement whatever tools get them there.
Taking the Necessary Steps to Improve Selling/Listening Skills
Since most of us were not taught how to listen, it takes some practice and determination to acquire the skills that make for a better listener. But it isn't all that difficult once you set your mind on it. There are actually several steps you can take that will quickly get you on the road to developing and improving selling/listening skills. And with practice and follow-though, you can become a much better listener and a much better salesperson.
1. Listen to Your Sales Prospect with Intensity
While we all have a problem focusing, when speaking with a potential client it's important that you concentrate on the speaker and the speaker's message. If you're listening with interest, you won't be as concerned about selling, but will be more concerned with listening to your potential clients needs. Instead of thinking about what you'll say next, focus intensely on what your prospect is trying to tell you.
2. Validating What You Hear
If you're not sure about something the prospect has said, make it a point to confirm what you think you heard by asking questions. It's best to wait for a brief lull in the conversation rather than interrupting the person speaking, but simply paraphrase what you think you heard in a conversation. That way there are no misunderstandings.
3. Listening Actively During a Sales Appointment
Be more of an active listener. Active listening is a powerful communication tool that is used to improve your ability to understand and comprehend verbal information. The way it's achieved is by confirming major points that have been communicated by the prospect and by voicing your understanding of any points made. In other words, give feedback. In that way you add to your ability to develop rapport, you add to the amount of clarity gained and you add to the overall exchange between you and the potential client.
4. Listen to Your Sales Prospect with Empathy
We all have a host of judgments and opinions, so it's pretty easy to pass judgment on others, particularly if we have a different opinion. But in order to be a good listener, you must put aside your opinions and listen with empathy. When listening with empathy you are putting yourself in the shoes of another person for a moment, which allows you to grasp the needs of the potential client more quickly. Your role is to become a Sales Super Star, not to approve or disapprove. In other words, even if you don't agree with the person, you want to help them find a solution.
5. Watch Your Own Body Language During A Sales Appointment
There is an old saying that says: "What you are speaks so loudly, I can't hear what you are saying." We do in fact say so much with our body language, our eyes and the nonverbal movements that we make, so we are always sending out messages about what we really feel and think. When you're on the listening end with a potential client, don't fidget, look the person in the eye, and do whatever is necessary to pay attention. You want the person to feel comfortable with you and there is no better way than listening with interest. Great things happen when a prospect feels they are working with a sales rep that "gets it".
6. Encourage Communication
When you listen with interest, you encourage communication. This allows another person to open up to you. If they feel safe, they will trust you. When they trust you, they're interested in what you're selling. Encourage communication by showing interest in what someone shares with you by nodding when they speak. You don't have to agree. You're just showing that you're listening. Don't interrupt when someone is speaking just so that you can have your turn. Wait until there is a pause in the conversation to ask a question and ask only one question at a time.
You Sell More Than a Product or Service
As a salesperson, you are more than simply selling a product or service. You are actually selling a solution. If you keep that uppermost in your mind, you can help your potential client or customer by zeroing in on their needs simply because you're listening. Plus, developing the art of listening instills greater confidence as well as a depth of interest that can make any sales situation a success. After all, to achieve as a Sales Superstar, you must be on the lookout for various ways of making your sales techniques more effective, and one of the best and most important tools is learning to listen!
Hearing and Listening Are Not Synonymous
So, what is the difference between hearing and listening? By way of explanation, hearing involves sounds, while listening requires concentration. Hearing is involuntary, while listening is an option. In effect, hearing simply means you are gathering information from the world around you, but it doesn't necessarily mean you are listening. When someone is listening, they are paying attention. Top sales professionals are good at what they do because they know the difference. They are the ones who have mastered the art of sales techniques because they know how important it is to develop the skill of listening. In short, when used effectively, listening is a strategic sales tool that superior salespeople develop for maximum results.
Strategic Sales Techniques
In our every day activities, we hear sounds, and short of wearing earplugs, we have very little control over the sounds we hear. For those with good hearing, we don't simply turn off or turn on our hearing abilities; it's just there. As a result, when someone talks, you may hear their voice uttering sounds, but you may not be listening to what they actually say. By way of illustration, ask any married couple how they hear each other and you'll get very different and very interesting responses. When one doesn't want to hear what the other person is saying, they are really good at turning off their listening abilities. But when it comes to implementing professional selling skills, you cannot and should not turn off your listening abilities. Why? Because you will miss a lot of important clues regarding your potential client's needs. When you turn on your listening skills and truly understand what's being said, you've begun to understand the skill that has eluded the masses. You have in fact, begun mastering professional selling skills. Professional Selling Skills
To explain in a little more detail, think back to your days in school, when you were bombarded with all those reading comprehension tests. Do you remember how many times you might have read something, yet you didn't fully grasp what it said? Just because you read it over and over did not mean you fully understood it. Now, I'm all for "Comprehension" tests, but what we really need in our schools are listening tests. We were given a lot of comprehension and even hearing tests, but no one seems to be aware of the importance of listening. And throughout my years of sales training, I've observed that people who become top sales professionals are good at listening. They are the ones that ultimately make all the money in the marketplace.
Sales Skills Training
Having trained countless sales reps for the past 30 years, I will often ask participants in my sales training programs about their listening skills and whether they believe they are good at listening. More often than not, I hear them say, "I don't think it's a problem." Yet, nothing could be further from the truth. The reason? Most salespeople are not even aware of their listening skills. And because they are on the front line exchanging information daily with existing and potential clients, the information they harvest can and will have a tremendous effect on their sales skills. Consequently, it is critically important that salespeople learn how to listen correctly, although more often than not, they don't believe in its importance. Improving Our Listening Skills And Close More Sales Okay, now that we've defined the difference between hearing and listening, and their importance, let's see what we can do to fix the problem by improving on our listening skills. Let's start with the fact that for the most part, humans actually think faster than they listen and so in order to correct the problem a sales rep must find a way to improve the condition of his or her listening. But how? The answer is simple! A good salesperson will "decide" that they are going to develop good listening skills even if it takes some effort. And no matter how hard it may be, they will implement whatever tools get them there.
Taking the Necessary Steps to Improve Selling/Listening Skills
Since most of us were not taught how to listen, it takes some practice and determination to acquire the skills that make for a better listener. But it isn't all that difficult once you set your mind on it. There are actually several steps you can take that will quickly get you on the road to developing and improving selling/listening skills. And with practice and follow-though, you can become a much better listener and a much better salesperson.
1. Listen to Your Sales Prospect with Intensity
While we all have a problem focusing, when speaking with a potential client it's important that you concentrate on the speaker and the speaker's message. If you're listening with interest, you won't be as concerned about selling, but will be more concerned with listening to your potential clients needs. Instead of thinking about what you'll say next, focus intensely on what your prospect is trying to tell you.
2. Validating What You Hear
If you're not sure about something the prospect has said, make it a point to confirm what you think you heard by asking questions. It's best to wait for a brief lull in the conversation rather than interrupting the person speaking, but simply paraphrase what you think you heard in a conversation. That way there are no misunderstandings.
3. Listening Actively During a Sales Appointment
Be more of an active listener. Active listening is a powerful communication tool that is used to improve your ability to understand and comprehend verbal information. The way it's achieved is by confirming major points that have been communicated by the prospect and by voicing your understanding of any points made. In other words, give feedback. In that way you add to your ability to develop rapport, you add to the amount of clarity gained and you add to the overall exchange between you and the potential client.
4. Listen to Your Sales Prospect with Empathy
We all have a host of judgments and opinions, so it's pretty easy to pass judgment on others, particularly if we have a different opinion. But in order to be a good listener, you must put aside your opinions and listen with empathy. When listening with empathy you are putting yourself in the shoes of another person for a moment, which allows you to grasp the needs of the potential client more quickly. Your role is to become a Sales Super Star, not to approve or disapprove. In other words, even if you don't agree with the person, you want to help them find a solution.
5. Watch Your Own Body Language During A Sales Appointment
There is an old saying that says: "What you are speaks so loudly, I can't hear what you are saying." We do in fact say so much with our body language, our eyes and the nonverbal movements that we make, so we are always sending out messages about what we really feel and think. When you're on the listening end with a potential client, don't fidget, look the person in the eye, and do whatever is necessary to pay attention. You want the person to feel comfortable with you and there is no better way than listening with interest. Great things happen when a prospect feels they are working with a sales rep that "gets it".
6. Encourage Communication
When you listen with interest, you encourage communication. This allows another person to open up to you. If they feel safe, they will trust you. When they trust you, they're interested in what you're selling. Encourage communication by showing interest in what someone shares with you by nodding when they speak. You don't have to agree. You're just showing that you're listening. Don't interrupt when someone is speaking just so that you can have your turn. Wait until there is a pause in the conversation to ask a question and ask only one question at a time.
You Sell More Than a Product or Service
As a salesperson, you are more than simply selling a product or service. You are actually selling a solution. If you keep that uppermost in your mind, you can help your potential client or customer by zeroing in on their needs simply because you're listening. Plus, developing the art of listening instills greater confidence as well as a depth of interest that can make any sales situation a success. After all, to achieve as a Sales Superstar, you must be on the lookout for various ways of making your sales techniques more effective, and one of the best and most important tools is learning to listen!
Sunday, February 3, 2008
The Truth About Emotions - A Soft Sell Confirmation
Antonio Damasio, a world renowned neuro-scientist, argues that we use emotion to assign value to people, things, and events. And it is as a result of assigning value that we make decisions. Emotion first, reason second. Sound familiar? It should.
There's an old adage that's taken as gospel by marketers of all stripes. People buy emotionally and justify logically. In other words, heart first, head second.
So why do we say this is a Soft Sell Confirmation? Because soft sell is heart-based - not in a sentimental, gushy way - like a drunk who hangs all over you telling how much you are loved, emotions pouring out all over the place. That exhibits a lack of emotional value because it's not considered. And very often, once the hangover has subsided, not even remembered.
Soft sell, and the purchase that follows, is very considered, but considered upon a valuation based in emotion. Typically, we learned that decision making is a rational process.
For example, you make a list of the expected positive outcomes and balance that against a list of possible negative repercussions and, on the basis of that risk-reward assessment, you make a choice and go forward. But that's a leap to faith!
Why? Because reason, by its very nature, has no final authority. Using reason you can always create a logical, even compelling argument for the opposite of any choice you make.
So there you are, standing on the "ground" of a very logically developed point of view. But how can you be sure that the choice you've rationally made is ultimately the right choice? That fact is you can't . . . not with reason alone . . . because reason can't assign value, it can only be used to support the value you already feel. You stand on a mountain of facts and then leap to faith. And faith is a value choice grounded in emotion.
So what does this have to do with soft sell marketing?
1) Soft sell is about creating and maintaining relationships and real relationships are not static. They are living, and dynamic, and evolving. They are sustained through the feeling(s) between the people involved.
You've seen emotionally empty relationships. They are hollow, creaky, and surely not rewarding. They've dried up.
Your success as a soft sell marketer is to keep your relationships with your customers/clients as rich, moist, and fertile as you can. That requires sincerity, authenticity, and emotional availability.
Don't be afraid to let your customers feel you - not just know you but feel you. Let them into your life. Telling your story is one way to open that door.
2) You've heard people say, "Trust your gut." Your gut really does have a brain that feeds information to the brain in your cranium.
And so does your heart.
According to seventeenth century French philosopher Blaise Pascal - "The heart has its ways of reasoning of which reason has no knowledge." And according to recent research, there is a "heart brain" - an elaborate processing system that acts independently of the cranial brain. It has it's own way of learning, remembering, feeling and sensing.
So.. "Trust your heart." The heart is an evaluation center, based in feeling. It's the center of connection, emotional connection. Heart-based marketing is emotion-based marketing, followed by logical proof. You can collect a mountain of facts and statistics about your product, and you need to, so you can assure your customer you know what you're talking about, but then your customer must still leap to faith.
There's an old adage that's taken as gospel by marketers of all stripes. People buy emotionally and justify logically. In other words, heart first, head second.
So why do we say this is a Soft Sell Confirmation? Because soft sell is heart-based - not in a sentimental, gushy way - like a drunk who hangs all over you telling how much you are loved, emotions pouring out all over the place. That exhibits a lack of emotional value because it's not considered. And very often, once the hangover has subsided, not even remembered.
Soft sell, and the purchase that follows, is very considered, but considered upon a valuation based in emotion. Typically, we learned that decision making is a rational process.
For example, you make a list of the expected positive outcomes and balance that against a list of possible negative repercussions and, on the basis of that risk-reward assessment, you make a choice and go forward. But that's a leap to faith!
Why? Because reason, by its very nature, has no final authority. Using reason you can always create a logical, even compelling argument for the opposite of any choice you make.
So there you are, standing on the "ground" of a very logically developed point of view. But how can you be sure that the choice you've rationally made is ultimately the right choice? That fact is you can't . . . not with reason alone . . . because reason can't assign value, it can only be used to support the value you already feel. You stand on a mountain of facts and then leap to faith. And faith is a value choice grounded in emotion.
So what does this have to do with soft sell marketing?
1) Soft sell is about creating and maintaining relationships and real relationships are not static. They are living, and dynamic, and evolving. They are sustained through the feeling(s) between the people involved.
You've seen emotionally empty relationships. They are hollow, creaky, and surely not rewarding. They've dried up.
Your success as a soft sell marketer is to keep your relationships with your customers/clients as rich, moist, and fertile as you can. That requires sincerity, authenticity, and emotional availability.
Don't be afraid to let your customers feel you - not just know you but feel you. Let them into your life. Telling your story is one way to open that door.
2) You've heard people say, "Trust your gut." Your gut really does have a brain that feeds information to the brain in your cranium.
And so does your heart.
According to seventeenth century French philosopher Blaise Pascal - "The heart has its ways of reasoning of which reason has no knowledge." And according to recent research, there is a "heart brain" - an elaborate processing system that acts independently of the cranial brain. It has it's own way of learning, remembering, feeling and sensing.
So.. "Trust your heart." The heart is an evaluation center, based in feeling. It's the center of connection, emotional connection. Heart-based marketing is emotion-based marketing, followed by logical proof. You can collect a mountain of facts and statistics about your product, and you need to, so you can assure your customer you know what you're talking about, but then your customer must still leap to faith.
To Pitch or Present?
Have you ever wondered why the word "pitch" has become the term for selling? The salesperson makes a pitch; the words they use are a pitch; the listener is being pitched. Why is the word "pitch" - loaded with negative feelings and expectations - universally accepted as the term that accurately describes what's happening? At thesaurus.com there are 53 various definitions for the word "pitch." They range from - to set up, to the angle of a slope, to stumbling, to the plunging of the bow of a ship, to helping out.
We don't know about you but these don't have any bearing, at least not any immediately obvious connection, with a high pressure sales talk - which was one entry in the list. In another category "pitch"means a dark, thick, very sticky substance. Maybe this is where the negative connotation for "a sales pitch" comes from. You can't get the stuff off.
Think about a time you felt like you were being pitched. Just writing this last sentence brings back a rush of sense memories of what it felt like. Barraged. Unseen. Lied to - even if what the sales guy was saying was the total truth. It felt like a lie. Why?
Because his intention was inauthentic. He kept telling us how much he wanted to help, but whenever we had a question, instead of taking an interest in our concern, he'd answer by telling us about some feature of his product and just what it was going to do for us. And, of course, when we said we wanted to wait, he pulled out the old scarcity tactic. He could only offer me the "special price" if we acted immediately - i.e. accept his offer now.
Do you really believe that if we walked out and returned the next day, check in hand, he would say - "No. No. Sorry. That price was good only yesterday?"
As far as we see it, a pitch is when you get everything thrown at you for the explicit purpose of the salesperson getting your check right then and there. It is a scarcity, failure mentality that operates on desperation, and works to make you, the buyer, desperate as well.
In contrast, bring to mind an instance when a salesperson genuinely helped you to accomplish what you set out to do. What was that like? One thing sure - it wasn't a pitch.
And if the salesperson was really artful - yes, there is a genuine and sincere art to helping someone make a decision to buy - what he or she did was more of a presentation with your best interest at heart. Heart. Not Mind. Heart. A connection. An emotional connection, because, as we said in our last post - "The Truth about Emotions - A Soft Sell Confirmation!" -
The heart is an evaluation center, based in feeling. It's the center of connection, emotional connection. Heart-based marketing is emotion-based marketing. You can collect a mountain of facts and statistics about your product, and you need to, so you can assure your customer you know what you're talking about, but then your customer must still leap to faith. That leap is a leap of the heart . . . a leap based in emotional evaluation
How best can you help your customer make that leap of faith? One way is to make a presentation instead of a pitch. Because, again according to thesarus.com, here's what "to present" means and what it feels like: To furnish or endow with a gift; to offer, or give; to introduce; to show or exhibit; to offer for consideration.
How do you feel reading this last line? Gift. Offer. Introduce. Consideration. Doesn't it feel like you're actually being included in the presentation with your best interest at heart? And doesn't it make the prospect of offering something for sale more attractive?
The very best sales people, the artists, do just that. They know they have the responsibility of leading the customer to a buying decision, so, by making a presentation, they set up a buying environment instead of a selling one. They go into a partnership with their customer instead of seeing the transaction as a one-way street - from your wallet to theirs.
Remember, your customer is a person who has a life filled with hopes, fears, dreams, expectations, disappointments, and, just like you, they are entrusted with making their life as meaningful and as fulfilling as they can.
If your offer - your presentation - can facilitate and support their trust, you not only make a sale, you can make a long-term customer, someone who returns to you, because, with you, they know that the benefits they receive always reach well beyond just a product-for-money transaction.
We don't know about you but these don't have any bearing, at least not any immediately obvious connection, with a high pressure sales talk - which was one entry in the list. In another category "pitch"means a dark, thick, very sticky substance. Maybe this is where the negative connotation for "a sales pitch" comes from. You can't get the stuff off.
Think about a time you felt like you were being pitched. Just writing this last sentence brings back a rush of sense memories of what it felt like. Barraged. Unseen. Lied to - even if what the sales guy was saying was the total truth. It felt like a lie. Why?
Because his intention was inauthentic. He kept telling us how much he wanted to help, but whenever we had a question, instead of taking an interest in our concern, he'd answer by telling us about some feature of his product and just what it was going to do for us. And, of course, when we said we wanted to wait, he pulled out the old scarcity tactic. He could only offer me the "special price" if we acted immediately - i.e. accept his offer now.
Do you really believe that if we walked out and returned the next day, check in hand, he would say - "No. No. Sorry. That price was good only yesterday?"
As far as we see it, a pitch is when you get everything thrown at you for the explicit purpose of the salesperson getting your check right then and there. It is a scarcity, failure mentality that operates on desperation, and works to make you, the buyer, desperate as well.
In contrast, bring to mind an instance when a salesperson genuinely helped you to accomplish what you set out to do. What was that like? One thing sure - it wasn't a pitch.
And if the salesperson was really artful - yes, there is a genuine and sincere art to helping someone make a decision to buy - what he or she did was more of a presentation with your best interest at heart. Heart. Not Mind. Heart. A connection. An emotional connection, because, as we said in our last post - "The Truth about Emotions - A Soft Sell Confirmation!" -
The heart is an evaluation center, based in feeling. It's the center of connection, emotional connection. Heart-based marketing is emotion-based marketing. You can collect a mountain of facts and statistics about your product, and you need to, so you can assure your customer you know what you're talking about, but then your customer must still leap to faith. That leap is a leap of the heart . . . a leap based in emotional evaluation
How best can you help your customer make that leap of faith? One way is to make a presentation instead of a pitch. Because, again according to thesarus.com, here's what "to present" means and what it feels like: To furnish or endow with a gift; to offer, or give; to introduce; to show or exhibit; to offer for consideration.
How do you feel reading this last line? Gift. Offer. Introduce. Consideration. Doesn't it feel like you're actually being included in the presentation with your best interest at heart? And doesn't it make the prospect of offering something for sale more attractive?
The very best sales people, the artists, do just that. They know they have the responsibility of leading the customer to a buying decision, so, by making a presentation, they set up a buying environment instead of a selling one. They go into a partnership with their customer instead of seeing the transaction as a one-way street - from your wallet to theirs.
Remember, your customer is a person who has a life filled with hopes, fears, dreams, expectations, disappointments, and, just like you, they are entrusted with making their life as meaningful and as fulfilling as they can.
If your offer - your presentation - can facilitate and support their trust, you not only make a sale, you can make a long-term customer, someone who returns to you, because, with you, they know that the benefits they receive always reach well beyond just a product-for-money transaction.
Saturday, February 2, 2008
The Truth About Emotions - A Soft Sell Confirmation
Antonio Damasio, a world renowned neuro-scientist, argues that we use emotion to assign value to people, things, and events. And it is as a result of assigning value that we make decisions. Emotion first, reason second. Sound familiar? It should.
There's an old adage that's taken as gospel by marketers of all stripes. People buy emotionally and justify logically. In other words, heart first, head second.
So why do we say this is a Soft Sell Confirmation? Because soft sell is heart-based - not in a sentimental, gushy way - like a drunk who hangs all over you telling how much you are loved, emotions pouring out all over the place. That exhibits a lack of emotional value because it's not considered. And very often, once the hangover has subsided, not even remembered.
Soft sell, and the purchase that follows, is very considered, but considered upon a valuation based in emotion. Typically, we learned that decision making is a rational process.
For example, you make a list of the expected positive outcomes and balance that against a list of possible negative repercussions and, on the basis of that risk-reward assessment, you make a choice and go forward. But that's a leap to faith!
Why? Because reason, by its very nature, has no final authority. Using reason you can always create a logical, even compelling argument for the opposite of any choice you make.
So there you are, standing on the "ground" of a very logically developed point of view. But how can you be sure that the choice you've rationally made is ultimately the right choice? That fact is you can't . . . not with reason alone . . . because reason can't assign value, it can only be used to support the value you already feel. You stand on a mountain of facts and then leap to faith. And faith is a value choice grounded in emotion.
So what does this have to do with soft sell marketing?
1) Soft sell is about creating and maintaining relationships and real relationships are not static. They are living, and dynamic, and evolving. They are sustained through the feeling(s) between the people involved.
You've seen emotionally empty relationships. They are hollow, creaky, and surely not rewarding. They've dried up.
Your success as a soft sell marketer is to keep your relationships with your customers/clients as rich, moist, and fertile as you can. That requires sincerity, authenticity, and emotional availability.
Don't be afraid to let your customers feel you - not just know you but feel you. Let them into your life. Telling your story is one way to open that door.
2) You've heard people say, "Trust your gut." Your gut really does have a brain that feeds information to the brain in your cranium.
And so does your heart.
According to seventeenth century French philosopher Blaise Pascal - "The heart has its ways of reasoning of which reason has no knowledge." And according to recent research, there is a "heart brain" - an elaborate processing system that acts independently of the cranial brain. It has it's own way of learning, remembering, feeling and sensing.
So.. "Trust your heart." The heart is an evaluation center, based in feeling. It's the center of connection, emotional connection. Heart-based marketing is emotion-based marketing, followed by logical proof. You can collect a mountain of facts and statistics about your product, and you need to, so you can assure your customer you know what you're talking about, but then your customer must still leap to faith.
There's an old adage that's taken as gospel by marketers of all stripes. People buy emotionally and justify logically. In other words, heart first, head second.
So why do we say this is a Soft Sell Confirmation? Because soft sell is heart-based - not in a sentimental, gushy way - like a drunk who hangs all over you telling how much you are loved, emotions pouring out all over the place. That exhibits a lack of emotional value because it's not considered. And very often, once the hangover has subsided, not even remembered.
Soft sell, and the purchase that follows, is very considered, but considered upon a valuation based in emotion. Typically, we learned that decision making is a rational process.
For example, you make a list of the expected positive outcomes and balance that against a list of possible negative repercussions and, on the basis of that risk-reward assessment, you make a choice and go forward. But that's a leap to faith!
Why? Because reason, by its very nature, has no final authority. Using reason you can always create a logical, even compelling argument for the opposite of any choice you make.
So there you are, standing on the "ground" of a very logically developed point of view. But how can you be sure that the choice you've rationally made is ultimately the right choice? That fact is you can't . . . not with reason alone . . . because reason can't assign value, it can only be used to support the value you already feel. You stand on a mountain of facts and then leap to faith. And faith is a value choice grounded in emotion.
So what does this have to do with soft sell marketing?
1) Soft sell is about creating and maintaining relationships and real relationships are not static. They are living, and dynamic, and evolving. They are sustained through the feeling(s) between the people involved.
You've seen emotionally empty relationships. They are hollow, creaky, and surely not rewarding. They've dried up.
Your success as a soft sell marketer is to keep your relationships with your customers/clients as rich, moist, and fertile as you can. That requires sincerity, authenticity, and emotional availability.
Don't be afraid to let your customers feel you - not just know you but feel you. Let them into your life. Telling your story is one way to open that door.
2) You've heard people say, "Trust your gut." Your gut really does have a brain that feeds information to the brain in your cranium.
And so does your heart.
According to seventeenth century French philosopher Blaise Pascal - "The heart has its ways of reasoning of which reason has no knowledge." And according to recent research, there is a "heart brain" - an elaborate processing system that acts independently of the cranial brain. It has it's own way of learning, remembering, feeling and sensing.
So.. "Trust your heart." The heart is an evaluation center, based in feeling. It's the center of connection, emotional connection. Heart-based marketing is emotion-based marketing, followed by logical proof. You can collect a mountain of facts and statistics about your product, and you need to, so you can assure your customer you know what you're talking about, but then your customer must still leap to faith.
To Pitch or Present?
Have you ever wondered why the word "pitch" has become the term for selling? The salesperson makes a pitch; the words they use are a pitch; the listener is being pitched. Why is the word "pitch" - loaded with negative feelings and expectations - universally accepted as the term that accurately describes what's happening? At thesaurus.com there are 53 various definitions for the word "pitch." They range from - to set up, to the angle of a slope, to stumbling, to the plunging of the bow of a ship, to helping out.
We don't know about you but these don't have any bearing, at least not any immediately obvious connection, with a high pressure sales talk - which was one entry in the list. In another category "pitch"means a dark, thick, very sticky substance. Maybe this is where the negative connotation for "a sales pitch" comes from. You can't get the stuff off.
Think about a time you felt like you were being pitched. Just writing this last sentence brings back a rush of sense memories of what it felt like. Barraged. Unseen. Lied to - even if what the sales guy was saying was the total truth. It felt like a lie. Why?
Because his intention was inauthentic. He kept telling us how much he wanted to help, but whenever we had a question, instead of taking an interest in our concern, he'd answer by telling us about some feature of his product and just what it was going to do for us. And, of course, when we said we wanted to wait, he pulled out the old scarcity tactic. He could only offer me the "special price" if we acted immediately - i.e. accept his offer now.
Do you really believe that if we walked out and returned the next day, check in hand, he would say - "No. No. Sorry. That price was good only yesterday?"
As far as we see it, a pitch is when you get everything thrown at you for the explicit purpose of the salesperson getting your check right then and there. It is a scarcity, failure mentality that operates on desperation, and works to make you, the buyer, desperate as well.
In contrast, bring to mind an instance when a salesperson genuinely helped you to accomplish what you set out to do. What was that like? One thing sure - it wasn't a pitch.
And if the salesperson was really artful - yes, there is a genuine and sincere art to helping someone make a decision to buy - what he or she did was more of a presentation with your best interest at heart. Heart. Not Mind. Heart. A connection. An emotional connection, because, as we said in our last post - "The Truth about Emotions - A Soft Sell Confirmation!" -
The heart is an evaluation center, based in feeling. It's the center of connection, emotional connection. Heart-based marketing is emotion-based marketing. You can collect a mountain of facts and statistics about your product, and you need to, so you can assure your customer you know what you're talking about, but then your customer must still leap to faith. That leap is a leap of the heart . . . a leap based in emotional evaluation
How best can you help your customer make that leap of faith? One way is to make a presentation instead of a pitch. Because, again according to thesarus.com, here's what "to present" means and what it feels like: To furnish or endow with a gift; to offer, or give; to introduce; to show or exhibit; to offer for consideration.
How do you feel reading this last line? Gift. Offer. Introduce. Consideration. Doesn't it feel like you're actually being included in the presentation with your best interest at heart? And doesn't it make the prospect of offering something for sale more attractive?
The very best sales people, the artists, do just that. They know they have the responsibility of leading the customer to a buying decision, so, by making a presentation, they set up a buying environment instead of a selling one. They go into a partnership with their customer instead of seeing the transaction as a one-way street - from your wallet to theirs.
Remember, your customer is a person who has a life filled with hopes, fears, dreams, expectations, disappointments, and, just like you, they are entrusted with making their life as meaningful and as fulfilling as they can.
If your offer - your presentation - can facilitate and support their trust, you not only make a sale, you can make a long-term customer, someone who returns to you, because, with you, they know that the benefits they receive always reach well beyond just a product-for-money transaction.
We don't know about you but these don't have any bearing, at least not any immediately obvious connection, with a high pressure sales talk - which was one entry in the list. In another category "pitch"means a dark, thick, very sticky substance. Maybe this is where the negative connotation for "a sales pitch" comes from. You can't get the stuff off.
Think about a time you felt like you were being pitched. Just writing this last sentence brings back a rush of sense memories of what it felt like. Barraged. Unseen. Lied to - even if what the sales guy was saying was the total truth. It felt like a lie. Why?
Because his intention was inauthentic. He kept telling us how much he wanted to help, but whenever we had a question, instead of taking an interest in our concern, he'd answer by telling us about some feature of his product and just what it was going to do for us. And, of course, when we said we wanted to wait, he pulled out the old scarcity tactic. He could only offer me the "special price" if we acted immediately - i.e. accept his offer now.
Do you really believe that if we walked out and returned the next day, check in hand, he would say - "No. No. Sorry. That price was good only yesterday?"
As far as we see it, a pitch is when you get everything thrown at you for the explicit purpose of the salesperson getting your check right then and there. It is a scarcity, failure mentality that operates on desperation, and works to make you, the buyer, desperate as well.
In contrast, bring to mind an instance when a salesperson genuinely helped you to accomplish what you set out to do. What was that like? One thing sure - it wasn't a pitch.
And if the salesperson was really artful - yes, there is a genuine and sincere art to helping someone make a decision to buy - what he or she did was more of a presentation with your best interest at heart. Heart. Not Mind. Heart. A connection. An emotional connection, because, as we said in our last post - "The Truth about Emotions - A Soft Sell Confirmation!" -
The heart is an evaluation center, based in feeling. It's the center of connection, emotional connection. Heart-based marketing is emotion-based marketing. You can collect a mountain of facts and statistics about your product, and you need to, so you can assure your customer you know what you're talking about, but then your customer must still leap to faith. That leap is a leap of the heart . . . a leap based in emotional evaluation
How best can you help your customer make that leap of faith? One way is to make a presentation instead of a pitch. Because, again according to thesarus.com, here's what "to present" means and what it feels like: To furnish or endow with a gift; to offer, or give; to introduce; to show or exhibit; to offer for consideration.
How do you feel reading this last line? Gift. Offer. Introduce. Consideration. Doesn't it feel like you're actually being included in the presentation with your best interest at heart? And doesn't it make the prospect of offering something for sale more attractive?
The very best sales people, the artists, do just that. They know they have the responsibility of leading the customer to a buying decision, so, by making a presentation, they set up a buying environment instead of a selling one. They go into a partnership with their customer instead of seeing the transaction as a one-way street - from your wallet to theirs.
Remember, your customer is a person who has a life filled with hopes, fears, dreams, expectations, disappointments, and, just like you, they are entrusted with making their life as meaningful and as fulfilling as they can.
If your offer - your presentation - can facilitate and support their trust, you not only make a sale, you can make a long-term customer, someone who returns to you, because, with you, they know that the benefits they receive always reach well beyond just a product-for-money transaction.
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