Thoughtful Thursdays - Use objections to help grow your sales

Today's thought is about using something that you have a lot of, as a resource to grow sales.

In the long run you will probably face more objections than approvals. Addressed appropriately you can use the objections as a base to help grow your revenues.
I will  assume that the the people you are talking to are your target market, the ones that, based on your research, will be most likely to want to buy from you.

Never walk away when you face an objection before taking the opportunity to ask for your prospect for their help. If you can get to the root cause of the objection, you will be in better a position to either respond or decline.

Even if you walk away, you can gain valuable information from the experience that can be used in future sales calls including:

• Sales leads
• Ways to improve your approach
• Industry information
• Competitive information

With forethought and planning you will find that in many instances an objection can be converted into positive experience for your business.

Good selling,
Richard

Thoughtful Thursdays - How do you handle scope creep?

If this has not happened to you already, then you are very new to sales. Be patient, you will get your turn.

You have made your calls, assessed and confirmed the situation, presented solutions and made your recommendation. It is all good and you have been asked to come in to seal the deal. You are naturally excited and anticipating the close.

The meeting starts as you expected with the customer thanking you and demonstrating sincere appreciation for your time and efforts. "We like everything you have proposed and are ready to cut the requisition. There's just one small thing..."

In some cases it is small and within the scope of your proposal. In many instances however, the "small thing" takes the proposal out of the scope you have proposed. Your previously negotiated proposal has just been re-opened.

You have just received an objection and they way you handle it may make the difference in being profitable and just breaking even.

When I detect scope creep my response is to revisit the proposal and re-confirm the requirements with the customer. Regardless of what the "small thing" is, I will be very clear in communicating the message that the proposal may change in light of a new or revised requirement.

It may require another meeting, or be settled on the spot. It goes without saying that you must know your costs and the line you will not cross even if it means walking away. What would happen if you did not get the order? Can you accept that consequence?

What ever you decide, make sure you have thought out possible resulting scenarios. Anticipate the unthinkable.

Good selling,
Richard

Thoughtful Thursdays - Have you checked your sales tool kit lately?

When sales are meeting or exceeding expectations, enjoy the moment and reward yourself. There is nothing like a congratulatory pat on the back to make one feel good about themselves.

It is also an opportune time to reflect and analyze the hows and whys of your successes. This should also include taking stock of the sales tools you have at your disposal:

• Value proposition
• Competitive advantage
• Responses to anticipated objections
• Defined sales process
• Technical support
• Customer service

This is only a portion of what might already be in your own tool kit. They are all important, but will not be used to maximum benefit without:

• Your winning attitude

Not to be confused with over confidence or arrogance, but the approach with poise that puts your prospects or customers mind at ease. Perhaps it is the characteristic that others use to describe you as thorough or helpful. However described, it is the foundation on which you successfully build solid business relationships with all your customers.

Don't make a call without it.

Good selling,
Richard

Thoughtful Thursdays - What's that you say?

It has been before, however I feel it is worth repeating because inevitably when I meet new business owners and ask what their business is, they launch into a very informative, and often clear, explanation of what they do.

As a matter of fact, I get a similar response from many not so new business owners.

If you want to get your prospects attention, don't tell them what you do, tell them how you help.

The conversation will turn to how you do it in due time. People will be more likely to pay attention to what you are saying when you start with a clear, overt and believable benefit they will realize by doing business with you.

Good selling,
Richard