Thoughtful Thursdays - Using objections to your advantage

Past Thoughtful Thursdays have talked about handling common objections and using them to grow your business.

Today's thought describes another way to approach common objections.

Once you have identified the objections that are indeed common in your sales experiences, you will undoubtedly have responses at the ready.

Instead of waiting for the objection from your prospect, try bringing it up yourself. For example: "Many people have felt that the cost of this product is prohibitive, and on the surface that may appear to be true. Allow to me explain how you can save in the by using this product." (advance preparation will allow you to back up your claim)

You can mitigate the chances of encountering many insincere objections by eliminating them before they have the opportunity to surface.

Good selling,
Richard

Thoughtful Thursdays - Commit to do instead of hope to do



The other day I overheard a sales representative on the their telephone say: "I was hoping to get back to you in a day or two with the information."

I could not help but wonder how the person at the other end of the conversation felt about this response. Would it have a negative effect on any future dealings, or in the worst case prevent a sale from taking place?

I do not like to leave the matter of getting back to a customer to hoping. "In a day or two" also makes me cringe a bit. It leaves one open to a range of expectations that is avoidable.

A different approach might go something like this: I expect to have that information in two days and will follow up with you by Thursday. (If the conversation took place on Tuesday) Will that be satisfactory?

I have found that by taking the approach of offering a time line that meets my own requirements is acceptable in the majority of cases. If it is not, the customer will tell me and an action plan to accelerate the process will result.

Make your commitment specific and remember to confirm that it is acceptable.

Good selling,
Richard

Richard

Thoughtful Thursdays - Are we clear?

We spend a lot of time crafting the right message to present to potential customers and communicate the value proposition that will ultimately result in a sale.

We even work on our voice mail messages and techniques to maintain continuity of the information we want to communicate and the way that to best articulate it.

One area that is often forgotten, especially by new owner operated businesses is the telephone greeting. How do you answer the telephone? Do you say who you are, or just hello? If you are working from a home office, are there distracting noises in the background? If you are not able to answer the telephone, is it clear to the caller that they have reached the right number?

Do you realize how annoying it can be to compete with a dog barking or street noise or a baby fussing while trying to talk to someone? These are a good ways to lengthen your sales cycle or worse, stop it before it even gets started.

In my experience nothing can turn off a potential customer faster than thinking they have not reached a business. A home based business is still a business, so treat it that way. Have a dedicated business line to keep personal and business calls separate.

Today's thought is to be mindful of your telephone greeting. If the environment you are in is noisy, do not answer the telephone. Check for a message and call back when there are no distractions. Script your telephone voice mail greeting and be sure it includes relevant information such as your name and business hours. If English is not your first language, consider getting someone to record the greeting for you.

Good selling,
Richard

Thoughtful Thursdays - We have no competitors... are you absoultely sure?

Last week a business owner to be told me that their research indicated they had no competitors. DOH! I must admit that this was not the first time I have heard such a claim nor do I believe it will be the last.

I congratulated him on his findings and said that if his findings are true, he may want to conduct further research for the following reasons:

1) If no one else is doing it, is there a reason? Does a market actually exist for the proposed products/services?

2) Are the proposed products/services being offered in other ways? For example, are they part of a larger offering being made by others? Are they hidden?

3) Consider indirect competition - who else is competing for the same dollar? Do not be mislead to believe that movie theatres are not competing with sports teams. The product is different but they are both pursuing dollars spent on entertainment.

In my experience it is exceptionally rare for a business to have no competition. There are certainly unique products in the market place, but in most cases there are also alternatives that will satisfy the needs of the purchaser.

The point of today's thought is to continue to ask "Why?" and to think beyond your specific product/service offering to what else currently satisfies the need that has been identified.

Good selling,
Richard

Thoughtful Thursdays - Don't bore me with the details

There are lot of benefits to be realized by noticing the "little" things during a sales call. The major benefit being the shortening of the sales cycle.

The "little" things I am referring to relate may help reveal the personality of your contact. The value of knowing your audience is undeniable. The ability to assess and adjust your approach is a competency that develops over a period of time and increases with experience.

So, what might you be observing while listening?

• Is the office neat or does it appear to be in disarray?
• How is the customer dressed?
• What is hanging on the walls?
• Are there family pictures?
• Is there note taking?
• Does your customer keep looking at the time?
• Eye contact?
• Are there interruptions?
• On time, or do you have to wait?

These kinds of observations will help you determine who your audience is. With that knowledge you can adjust your approach to match their personality. There is more value focusing on numbers and details with an analytical personality, where the intuitive type may be more interested in the theory.

Remember the formula: Two eyes, two ears and one mouth, use them in the same proportions to your advantage.

Good selling,
Richard

Thoughtful Thursdays - It's all about helping

Dealing with an unhappy customer is something every sales person will face from time to time and can bring feelings of apprehension to the most seasoned professional.
Lets face it, eventually something will go wrong and just as you are well prepared to address objections to sales, you will do well to be mindful of times when all does not go to plan.
Fears can develop when we begin to think about worst case scenarios. Not that it is not a good idea to be mindful of the worst that might happen, but don't put yourself there until all the facts are gathered. Arthur Conan Doyle said: "It is a capital mistake to theorize before one has data. Sensibly one begins to twist facts to suit theories, instead of theories to suit facts."

The fact is that your customer is unhappy and it is your responsibility to find out why. It is an opportunity to help someone who is in need of your assistance. Think in terms of helping and the task will become easier to accomplish. Employ your best sales tactics - listen and learn before offering any solutions. Be prepared to listen for quite a while as well.

One more suggestion: Contact your customer in real time. That means in person or by telephone, not email or similar. Personal service is the order of the day.

Good selling,
Richard

Thoughtful Thursdays - Starting a business is a full time job

If you are the owner/operator of the business, it might be said that it is more like having several full time jobs. The responsibilities range from setting company values to taking out the trash and everything in between.

It should come as no surprise that time is one, if not the most valuable resource you have. Having said that, it is also one that is most misused. How times have you heard that something did not get done because "I just didn't have the time" or "I ran out of time" or I was too busy" or ...you get the idea.

Many start-ups today are home based micro-businesses. Cash resources are often tight and cash flow management is critical. Once a plan is developed, the priority is to generate profitable sales revenues as quickly as possible.

Here is a short  list of common barriers to making sales many new entrepreneurs encounter:

• Building their own website
• Designing their own promotional material
• Non-business related activities
• Doing laundry
• Taking care of the kids
• Shopping
• Yard work
• Running errands for others
• Conducting unnecessary research
• Not working instead of networking
• Waiting for phone calls

These are activities that take a sales person off the road.

A few good questions to ask yourself before engaging in any activity, is one that a manager might ask: "How will this contribute to achieving sales?" If the activity will not, then are you willing to accept the consequence of not making sales as quickly as needed.? Can your business afford this?

To be successful your business needs you to be all in. If you are not for any reason, then your expectations may need to be reviewed.

Good selling,
Richard