Getting Prospects Reengaged by Eric Slife

You finish your presentation, and your prospect states, “Everything looks great. I’ll call you in a couple of days to move forward.” Several days pass, a week, then a month. They don’t return you calls, and you have no idea why. Sound familiar?

I’m not sure what’s more frustrating; not getting the business, or not knowing why. Here are some easy tips to reconnect with your prospect.

1. Establish Guidelines – At the very outset, establish guidelines for the relationship you are about to enter.
   
   
   
   Mr. or Miss Prospect, thanks for agreeing to meet with me today. I have some questions I’d like to ask you today, and I’m sure you probably have some questions you want to ask me. Before we get started, I just want you to know, it’s okay to tell me “No.” Sometimes, a client chooses to go a different direction, but they feel uncomfortable telling me. If at any point while working together, you determine my product or service isn’t the right fit, will you please let me know?
   
   
   
   


2. Voicemail with Email – I don’t expect people to return my voicemail. However, within my voicemail, I’ll inform them I’m sending an email, because for many busy individuals it’s easier to respond. In my email I will write, Mr. or Miss Prospect, upon our last discussion, you requested I follow up with you at this date and time regarding… I’ve tried several times to call you, but unfortunately, we haven’t been able to connect. I’m beginning to feel like I’m becoming a pest. Please let me if your situation has changed, so I know how and when to best follow up.
   
   
   
   Because many people aren’t comfortable telling you “no” over the phone or in person, this approach gives the prospect a way out of the situation, and you can move on. Often, you find they have been slammed or you get some additional information as to why the delay.
   
   
   
   


3. Disengage Caller ID – Call your phone company and ask how to disengage your caller id. This way your prospect can no longer screen your calls.
   
   
   
   


4. Did I Do Something Wrong? – Mr. or Miss Prospect you asked me to follow up on… I’ve tried to reach out several times, but I never heard back from you. Did I do something that offended or upset you?
   
   
   
   


5. Copy Referrer on Email – If you were referred by another individual, copy them on your email. This is especially useful if you were referred by a superior. Don’t throw your contact under the bus, but apply a little pressure.
   
   
   
   


6. Discard Proposals – Finally, always be willing to walk away. I want to do business with adults, not children. If someone requests to call them back, but then never returns my calls or email when I’m following their directions, those aren’t the customers I’m looking for.
   
   
   
   However, I’ll provide one final opportunity. Mr. or Miss Prospect, you requested I contact you on… I’ve tried several times, but I never heard back from you. The price (or proposal) was good for 30 days, so unfortunately I have to discard your file.
   
   
   
   Put a time limit on all your proposals. This creates a sense of urgency, and it doesn’t lock you into a price for an extended period of time.

About The Author: Eric Slife is President of Slife Sales Training, Inc. From cold calling to closing, receive ongoing, unlimited access to top sales trainers through our Team Training Program. Our affordable online sales and sales management training program can be customized for both individuals and sales teams.

http://www.salestrainingcentral.com

5 Sales Reports That Every Sales Manager Should Be Reviewing

A good manager knows that the sales team can make or break their company. All other departments might be in sync, but without a strong sales staff and sales process, the revenue that pays employee wages can vanish. When it comes to the sales team, special attention must be given to ensure that the company paydays keep coming.

According to Suzanne Paling, sales management consultant and author of The Accidental Sales Manager: A Survival Guide for CEOs (or owners or presidents) Who Find Themselves Managing Salespeople, sales reports can be key in keeping the sales process and the cash flow moving.

“Sales reports enable a manager to track how much time salespeople are spending on different sales activities, if they are meeting their productivity goals, and whether their efforts are translating into real sales,” explains Paling. “In other words, the sales reports paint a picture of the sales representatives’ day even when the manager can’t be there to observe them. The information in these reports plays a critical part in helping a manager oversee the success of the sales team and essentially the whole company.”

For the sake of sales success, Paling encourages sales managers to incorporate these basic reports into their sales process:

The Daily Call Report

Knowing how many calls your sales representatives make during a given day, as well as whom they are calling, is essential for those managing salespeople. Accounts are not all created equal. Some need to be called on more frequently than others. After establishing the call frequency for all of the salespeople’s accounts, the data from this report confirms whether they are adhering to the schedule.

Paling suggests looking for the following when reviewing this report: 

• Number of calls made in a row

• Specific types of calls

• Absence of certain types of calls

• Excessive numbers of certain types of calls

• Average length of call time

 The Productivity Report

Those managing salespeople need a reasonably accurate summary of how many and which type of calls they make. The data often includes the number of outbound calls, conversations, voice mails, e-mails, customer meetings, product demonstrations, and proposals generated in a given day, week, or month. The purpose of this report is to compare actual results against the benchmarks established for each activity.

Paling notes, “Whether a sales staff exceeds or fails to meet the established productivity standards, the productivity report keeps the manager informed. When a salesperson or sales staff does struggle, looking at the raw numbers can offer insight into the problem.”

When reviewing this report, Paling advises managers to ask:

• At which point in the sales cycle is the rep below/above productivity quota?

• In which areas is the rep consistently behind/ahead?

• Where the rep is below/above the productivity quota, how does it affect the next phase of the sales cycle?

The Pipeline

The pipeline report consists of all those prospects being actively pursued by a sales representative and separates them by their appropriate phase in the sales cycle. This information allows managers to keep track of the total number of prospects the salesperson is working with at any given point. Managers can tell how quickly a prospect progresses from one stage to the next or be aware when a prospect drops out altogether.

Paling offers these as examples of typical pipeline phases:

• Phase I—Decision-maker expresses interest in product or service

• Phase II—Salesperson meets with decision maker

• Phase III—Decision-maker participates in product demonstration

• Phase IV—Proposal submitted

• Phase V—Sale closed/sale lost

“It helps if the sales manager and the sales reps agree on the pipeline phases,” says Paling. “Naming the phases adds consistency and contributes to the development of a sales culture.”

The Sales Forecast

The single most important document generated in most sales organizations, a sales forecast has multiple purposes including:

• Holding salespeople accountable for the deals they intend to close at the end of each month

• Determining which opportunities need executive attention

• Helping to estimate revenue

• Paving the way for post-sale product or service delivery

The accuracy of this report strongly affects the entire organization. Unfortunately, many people confuse the pipeline report with the sales forecast.

The pipeline report and the sales forecast both show prospects at different phases of the sales process. The difference lies in the fact that the sales forecast shows only those prospects in the final stages of purchasing the product or service.

“The potential sales shown on the sales forecast might be a cause for celebration or function as a shrill alarm,” explains Paling. “The accuracy of the information provided determines sales revenue for the month or quarter. Failure to bring in enough sales revenue over a period of time leads to staff reductions, cash flow issues, and most drastically—companies going out of business.”

When looking at the sales forecast, ask:

• In which months (1, 2, or 3) is the rep typically above or below quota?

• Does revenue usually drop in any one month in particular?

• How many accounts drop out/get added from one month to the next?

• Does the rep have an easier/more difficult time achieving quota in one product line vs. another?

The Long-Range Sales Forecast

Often overlooked, long-range forecasts have a place in the portfolio of reports for those managing salespeople. Prospects in this report have told the sales representative that they are budgeted for and are committed to purchasing a product or service at some point in the future. The reason for the delayed purchase usually involves an expiring contract or a large capital expenditure that needs to go through a formal budgeting or bid process.

Typically, the long-range forecast keeps track of prospects planning to buy anywhere from four months to two years from the time of the initial contact with the sales representative.

Many of these long-range sales involve RFPs, intense competition, or the possible replacement of the prospect’s current provider. Sales like these usually require executive involvement at some point. This report helps management prepare accordingly.

Suzanne Paling, author of The Accidental Sales Manager (Entrepreneur Press),is the principal consultant of Sales Management Services, founded in 1998. She has more than 20 years of experience in sales, sales management, and sales consulting. Working with both field and inside sales organizations, she has helped clients in a vast number of industries including software, construction, medical, telecommunications, manufacturing, delivery, and recruiting.

The Accidental Sales Manager was named an award-winning finalist in the Business: Leadership and Management category of their “Best Books 2010” Awards, sponsored by USA Book News  The book is available on Amazon.com, Barnesandnoble.com and Borders.com; for more information on this title visit www.accidentalsalesmanager.com For more information on Suzanne Paling visit www.salesmanagementservices.com.

If You Ever Lack Focus, This Might Help by Art Sobczak

Greetings!

A very brief tip this week as I return from
several days of travel, and back out again.



Early this week I met with a group of other
speaking and training professionals. We have
been meeting several times per year, for 13
years now. It's a mastermind group (if you're
not familiar with this term, I suggest
researching it and perhaps finding or starting
one, as it will likely change your life, and
income) called Master Speakers International http://www.businessbyphone.com/msi.htm



Usually at our meetings everyone shares ideas
about what's working for them in their business,
marketing, sales, operations, technology,
latest must-read books, etc. At the meeting
earlier this week, one of our members, Mark
LeBlanc, http://www.markleblanc.com/, a small
business success expert, conducted the entire
program. Although I took pages of notes, just
a few key points will put a lot of money in my
pocket, and might for you as well.



In my case, I wear so many hats, perform so many
roles, and get torn in so many directions I
often feel like I'm running in place, and in
circles. Mix in my self-diagnosed Attention
Deficit Disorder, and that's a recipe for
reaching the end of some of the rare days that
I'm in my office, where, although there might
have been a whirlwind of activity, I just say to
myself, "What did you REALLY get done?"



Perhaps you have been there. Or are there.



I won't go through Mark's entire system, but will
share a key piece, what you can do as a sales
person that might help you sharpen your focus
(if you need it) and reach new levels.



1. Set your Optimistic Number for the month. Thisis the sales number you optimistically would like
to reach every month. Stretch a little, but make
it realistic. You probably have this now as a quota
or goal.



2. At the beginning of each day, ask yourself,"What am I doing today to book my Optimistic
Number?"



3. At the end of each day, ask, "What did I DO
today to book my Optimistic Number?"



4. Build your day around at least three High Value
Activities that are focused on reaching your optimistic
number. This might seem simplistic to some people, but when
we really analyze our activities, not everything we
do every day contributes to actually reaching our
numbers. You determine what yours are. You might realize
that sending emails, Tweeting, going on Facebook, etc.
is not directly contributing to reaching your
number.



5. Every DAY, update your scorecard that shows your
results towards your Optimistic Number.



Fairly simple process. What struck me is that it
provides the framework for focus, accountability,
and self-motivation.

Adapt this as you see it applying to you. And especially
if you are a small business professional, check out
Mark's site and resources http://www.markleblanc.com/

Continue having your best week ever!

Art

About the author:

Art Sobczak, President of
Business By Phone Inc., specializes in one area only: working
with business-to-business salespeople--both inside and outside--designing
and delivering content-rich programs that participants begin
showing results from the very next time they get on the phone.
Audiences love his "down-to-earth,"entertaining style,
and low-pressure, easy-to-use, customer oriented ideas and techniques.
He works with thousands of sales reps each year helping them
get more businesses by phone. Art provides real world, how-to
ideas and techniques that help salespeople use the phone more
effectively to prospect, sell, and service, without morale-killing
"rejection." Using the phone in sales is only difficult for people who use
outdated, salesy, manipulative tactics, or for those who aren't
quite sure what to do, or aren't confident in their abilities.
Art's audiences always comment how he simplifies the telesales
process, making it easily adaptable for anyone with the right
attitude.

Contact Info

Art Sobczak

Business By Phone Inc.

13254 Stevens St.

Omaha, NE, 68137

402-895-9399

ArtS@BusinessByPhone.com

www.businessbyphone.com

 

Characteristics of Great Sales Negotiators by Kelley Robertson

Virtually everyone in sales is required to negotiate.
After conducting hundreds of workshop and working
with thousands of people during the last decade, I
have discovered that most sales people are not as
effective at negotiating as they could be.

However, I do come across great sales negotiators
from time-to-time and have noticed that they typically
have a few things in common. Here are the
characteristics they usually possess.

Understanding of the negotiating process. Highly
effective negotiators recognize that negotiating is a
process, not just something that is done when
discussing the terms and conditions of a solution.
Negotiating is much more than haggling about price. It
requires an understanding of the dynamics that affect
the process and influence the behavior of people.
Great negotiators invest time learning different tactics
and strategies and how each technique contributes to
the overall outcome.

Focus on win-win. Win-win means that both parties
feel good about the outcome of the negotiating
process. Some books that state win-win solutions are
not possible in business negotiating; the authors write
that someone usually gives away more than they
should and the outcome becomes a win-lose
situation. Great negotiators don’t believe that. They
help their customer try and solve problems and look
for opportunities to give as much value as possible.
They also know how and when to limit their
concessions, give-aways, and discounts so they can
work out an agreement that is equitable for both
parties.

Patience. Too many people search for the quick fix
try to close the sale as fast as possible so they can
move on the next prospect. Great sales negotiators
recognize that patience is a virtue and that rushing
the process often leads to an undesirable outcome.
They don’t hurry to reach an agreement. Instead, they
take time to gather the necessary information. They
think carefully about possible solutions. They take
their time during the entire process. This is critical
because major mistakes are made when we try to
reach an agreement too quickly. We rush through the
process, not giving the other person’s offer ample
attention, and often end up with an outcome that is
win-lose. Simply because we were in a hurry.

Creativity. Most great negotiators are also very
creative. They use their problem-solving skills to
determine the best solution and look for unique ways
to achieve their goal. A friend of mine was once
embroiled in a bitter lawsuit with a company and after
months of negotiation, he came up with a solution that
ended the suit. He stretched out beyond the normal
answers and developed an alternative that was
accepted by the other party. In other words, he got
creative.

Willingness to experiment. Negotiating is a very
dynamic process because no two people are alike.
What works extremely well in one situation can
backfire in another. That’s why great negotiators
practise using a variety of concepts and techniques.
They experiment with different strategies, solutions,
and tactics. And a small failure does not prevent them
from experimenting with new ideas in the future.

Confidence. Great negotiators are confident when
they enter a negotiation. They aren’t arrogant or rude
or cocky—they are simply confident. They have
developed a high belief in their ability to reach an winwin
agreement. They are confident that they can
handle anything that comes their way in a negotiation
and this confidence is developed through experience.
Great negotiators evaluate themselves regularly.
They learn from their mistakes and victories. They
focus on improving their skill. They develop an
internal confidence that is unshakable.

Keen listening skills. People will tell you virtually
everything you need to know if you ask the right
questions AND listen carefully to their answers. I
personally believe that this one attribute is the most
important skill in selling and negotiating. I remember
my wife talking to a prospect on the telephone and at
one point during the conversation she sensed that he
had more to say. She waited patiently and listened
carefully and the other person eventually gave her
valuable information that helped her close the sale. Unfortunately, too many sales people simply wait for

their turn to talk, or even worse, interrupt their
prospect. This lack of listening means they often miss
hearing key information that will assist them in the
negotiations.

Negotiating is not a skill that is easily acquired. It
takes time, effort and energy. If you want to improve
your negotiating ability you must be ready to work at
it. Invest the time learning the dynamics and science
of negotiating. And be prepared to push yourself out
of your comfort zone.

.
© 2010 Kelley Robertson, All rights reserved.

Get your FREE copy of 100 Ways to Increase Your Sales by subscribing to Kelley's free newsletter, "59 Seconds to Sales Success" at www.Fearless-Selling.ca. Kelley Robertson, author of The Secrets of Power Selling helps sales professionals close more sales at higher profits. Kelley conducts workshops and speaks regularly at sales meetings and conferences. Contact him at 905-633-7750 or Kelley@Fearless-Selling.ca.

Creating Fresh Sales Opportunities By Jill Konrath, Author of SNAP Selling & Selling to Big Companies

There's nothing I like better than engaging prospects when they're NOT thinking of making any changes from the status quo. 

This may seem counterintuitive or perhaps even like sales heresy if you've spent your career chasing prospects who are already in the buying mode. After all, they already have money in the budget for your product/service and are actively looking for new options. 

So why would I recommend chasing "non-lookers" versus the tempting low-hanging fruit? Lots of reasons:

• The incumbent is sleeping. 
  
  
  
  Since dislodging the status quo is always your biggest sales challenge, you want to slip in under the existing provider's radar screen. 
  
  
  
  By bringing in new perspectives that help prospects better achieve their objectives, you gain a foothold in an otherwise impenetrable account. The incumbent's failure to do so creates a credibility gap for them and opens the door for you.

• Your competitors aren't around. 
  
  
  
  If you do things right, you can prove your capabilities, demonstrate your expertise, and establish a strong relationship long before any competitors enter the scene. They'll be playing catchup from the start. And, in most cases, they'll find it extremely difficult to close the gap.

• You set the playing field. 
  
  
  
  By bringing new ideas, insights, and information to your prospect, you help determine the criteria against which future "go-ahead" decisions will be judged. This gives you a chance to best position the strengths of your product, service, or solution.

• Sales cycles get condensed. 
  
  
  
  When you leverage your expertise to help customers sort through everything that has to be considered to make a change, their decision-making process go faster.

• Customers often love you.   
  
  
  
  Okay, I don't mean literally. But if you've ever had someone show you a better way, then made it simple to implement it, you know what I mean. That's how I feel when I visit the Apple Genius Bar, where tech gurus show me how to solve seemingly insoluble problems on my computer.

As you can see, there are many good reasons to get engaged with prospective customers earlier rather than later. Plus, you won't find yourself constantly fighting pricing battles. 

So start thinking about pursuing business with those non-lookers today. But don't talk about your products or services. Your prospects are only concerned about their objectives or eliminating the barriers that stand in the way of achieving them. 

Keep your focus on that and the possibilities are endless!

About Jill Konrath:

Jill Konrath, author of SNAP Selling and Selling to Big Companies, helps sellers crack into new accounts, speed up sales cycles and land big contracts. She's a frequent speaker at sales conferences. 

For more fresh sales strategies that work with crazy-busy prospects AND to get four bonus sales-accelerating tools, visit  www.snapselling.com.

Stealing Business From the Competition by Art Sobczak

Greetings!



This is a bit longer tip this week. Actually more
of a sales training session. I know many of you
use these tips in your sales meetings, so this
will be an excellent fit for that.



And by the way, this was a recent cover article in my
monthly Telephone Prospecting and Selling Report eight-page newsletter, just one of the member
resources for my Telesales Success Inner Circle participants.



Let's dive in.



If you place prospecting calls (hopefully Smart
Calls) you probably often hear, "I already buy
from X-Company," or, "We're happy with who
we're using."



I know, at this point you feel like saying,



"X Company! What a bunch of losers. How can
you be so dumb?"



Almost as bad--and what many salespeople
actually do--is data-dumping a pitch explaining
why your company is better. It's confrontational,
and only causes the prospect to harden his defenses.



Another strategy is to simply make a quick exit.

Which might not be bad, depending upon your
industry, and the quality and quantity of names
you have to work on. Many stockbrokers take
this route. After all, repeatedly running into
a brick wall, rebounding off, reloading and
ramming into it again isn't the most efficient
use of time if you have stacks of other leads
staring you in the eye. Plus it hurts after
a while.



But if your prospect pool is relatively finite,
you can't afford to burn through names. You need
to take the next step.



Get Them Talking

Your best approach is to engage the prospect
in a two-way conversation. You see, prospects
often say "I'm happy with my supplier," because
it's an easy way to get rid of a salesperson.
It's instinctive. It's easy. Jumping into a
pitch at this point not only falls on deaf
ears, it's unwise because you don't yet know
anything about them.



Engaging them in conversation, however,
gets them involved, and gives you material
you can work with.



A suggested route is to learn why they
selected their present vendor. Once you
know what influenced that behavior, you
have insight into what to say so they'll
consider you.



But DO NOT say, "Why did you choose them?"



The reason is that "Why?" puts them on the
defensive. It forces them to justify their
selection. And it can be interpreted as an
attack of their reasoning. You might as
well poke them in the ribs with a sharp
stick and then try to sell to them.



Saying, "Oh I'm sorry to hear that," or, "Any particular reason you use them?" has
the same effect.



Instead, you want to ask questions that
open them up, build rapport, and ease
into a conversation about how they chose
their supplier, again avoiding the stern "Why?" word.



For example,



"What influenced the decision to select them?"



"What prompted the decision to go with them?"



Notice that the last two questions take the
emphasis off the person, and place it instead
on the decision. It's non adversarial, and
is a soft way to get them talking.



By the way, I don't favor the oft-recommended "What do you like best about them?" Some might
argue it gives you insight into what they
want in a vendor. I maintain it asks them to
reinforce their decision to pick their
existing vendor--the exact opposite of what
we truly want to accomplish.



The Competitions' Weaknesses

What you should do now is ask questions
designed to extract information not only on
what his needs are, but also to point out
your strengths and the competitors' weaknesses.



For example, if you know X Company has poor
quality--allowing them to charge that lower
price--instead of blatantly slamming X's
workmanship, you'd ask a question to shed
light on it:



"How often do you have customers return for
service because of defective parts?"



"What do you do in situations when the
units overheat?"



Now it's not YOU disparaging the competition;
they're doing it for you. More importantly,
they're reliving their negative experiences
as they explain them. Delicious.



I don't want to paint too rosy of a picture
here. Despite your best efforts, in most cases
the prospect still won't budge. Then your
best tactic is to keep the door open for
the future. After all, we've all had those
written-off, discarded prospects who surprised
us with a phone call announcing,



"You called us a couple of months ago, and
we'd like to do business with you."



Here are additional questions that can make
that happen more often.



"Do you have a backup supplier?"



"What type of contingency do you have in
place if something were to happen where you
needed something in an emergency?"



"If anything were to happen with your
existing supplier, could I be on the list
of people you would consider?"



Or tell them,



"Please put my name and number in your
vendor's file. If anything happens where
they can't provide you something when you
need it, would you please give me a call.



Selling against someone's existing vendor
can be difficult--if you make it that way.
Instead, get them talking, and you might
find out exactly what you need to do to
get your foot in the door.



Go and Have Your Best Week Ever!



Art

About the author:

Art Sobczak, President of
Business By Phone Inc., specializes in one area only: working
with business-to-business salespeople--both inside and outside--designing
and delivering content-rich programs that participants begin
showing results from the very next time they get on the phone.
Audiences love his "down-to-earth,"entertaining style,
and low-pressure, easy-to-use, customer oriented ideas and techniques.
He works with thousands of sales reps each year helping them
get more businesses by phone. Art provides real world, how-to
ideas and techniques that help salespeople use the phone more
effectively to prospect, sell, and service, without morale-killing
"rejection." Using the phone in sales is only difficult for people who use
outdated, salesy, manipulative tactics, or for those who aren't
quite sure what to do, or aren't confident in their abilities.
Art's audiences always comment how he simplifies the telesales
process, making it easily adaptable for anyone with the right
attitude.

Contact Info

Art Sobczak

Business By Phone Inc.

13254 Stevens St.

Omaha, NE, 68137

402-895-9399

ArtS@BusinessByPhone.com

www.businessbyphone.com

Stop Selling On Price

The price objection is the curse of every salesperson's life and yet, as sales managers, we do little to help our people deal with it effectively.

Despite what we seem to believe, unless you're involved in transactional or commodity-type sales where price is the be-all and end-all, price is NOT the primary factor in the customer's buying decision. It's a safe bet that price is always going to be a factor in every sale but it is rarely the deciding factor, particularly in non-commodity sales.

The results of various surveys taken over the years show that between nine and fourteen percent of buyers will put price first in their buying decisions. This means that 86 to 91 percent of buyers have other factors they consider more important than price.

The Factors

One of those other factors is confidence. Prospects want to be confident that you'll do what you said you'd do, when you said you'd do it. Confidence comes from building trust and rapport with your prospects.

One of the fastest ways to destroy rapport and therefore confidence is for the salesperson to start selling before he really knows what the prospect wants to buy. That's sort of like the doctor who gives you a prescription before making a diagnosis. How much confidence would you have in the doctor? Probably not much. Your salespeople need to learn to properly qualify before they sell.

A second factor is choice. Prospects don't like to be in a position of having just two choices — to take it or leave it. Any time your salespeople can offer the prospect a choice, they strengthen their selling position. This is a particularly effective strategy when you are being compared against a competitor. Instead of the situation being one of them versus you, it becomes them versus you, you, and you. Much better odds. Teach your salespeople how to effectively use this technique.

Another factor is service. Prospects want to know you'll be there after the sale is consummated and that you're not going to sell 'em and leave 'em. You need to assure them you'll be there if (or when) they need you. Make sure your salespeople are equipped with evidence or testimonial material to help remove the FUD factor (Fear, Uncertainty, and Doubt).

The last factor is value. Prospects want to know they're getting the best quality for their money. This is probably the single most important factor in non-transactional selling and one where many salespeople could use some help. Are your salespeople talking catalogues or are they truly able to create value in the prospect's mind about what they are selling? You need to make sure your salespeople really understand the value of what they're selling.

Why Should I Buy From You?

Here's a test for you to try with your salespeople. Ask them, "If I were a prospect, why should I buy from you?" and see what kind of answer you get. Can they give you a value-based reason or do they fall back on the "well-we-have-a-good-price" type of response that gets the prospect thinking dollars and cents again. Some salespeople are so taken aback by this question that they sound like they have a mouth full of marbles as they stumble through their answer. Now that really instills confidence.

If the salesperson doesn't know why a prospect should buy from him, it's a safe bet that the prospect doesn't know either. If the prospect can't tell the difference between you and your competitor, she is more likely to make her buying decision based on price.

In order to move the prospect away from price as a prime consideration, salespeople must be able to articulate what additional value they bring to the offering. Not all the added value is in the product/service you offer. You have many hidden factors that would be of value to the prospect if she only knew about them.

Typical hidden values are: number of years in business, years of experience, organizational background, family-owned business, highly trained service staff, certified technical people, free delivery, toll-free ordering, money-back guarantee, life-time warranty, location(s), easy access, technical capabilities, past relevant experience, strategic alliances, personal attention, etc.

Salespeople need to be aware of these hidden values and know what they mean to a typical prospect so they can effectively answer the often unspoken question, "Why should I buy from you?"

The Value Iceberg

I recommend you walk your salespeople through the "value iceberg" exercise at your next sales meeting. Draw your best rendition of an iceberg on a flip chart (or whatever) and title the part above the waterline as "price" and the part below the waterline as "hidden values." Point out that your prospects often just see the tip of the iceberg— the price— and they need to be aware of the hidden values that can impact a sale. Brainstorm with your people until you've developed a list of hidden values that you offer. If you can, get them to put a dollar amount on as many values as possible.

This exercise will help your salespeople know and appreciate the additional value they and your organization bring to the sale. Being able to effectively explain these to their prospects will help move the prospect away from price as his or her primary decision factor. Remember, it's important to sell value because if prospects can't tell the difference between what you're offering and what your competitor is offering, then they'll make their decision based on price.

Sell Value

Once you help your salespeople deal with the other factors that impact the buying decision and teach them to sell value before price, they'll never go back to selling on price again.

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About the Author

Brian Jeffrey is President of Salesforce Assessments Ltd. His company works with sales managers who want to make the right hiring decisions and build a strong sales team using his sales assessment test. For more articles like this and your free copy of "The 8 Biggest Hiring Mistakes Sales Managers Make" go to => www.SalesforceAssessments.com