Nine Common Objections You Must Answer
By: Brian Tracy
Unspoken Objections
The first type of objection you will get is an unspoken objection. The customer has concerns with you offering but doesn't tell you anything. The solution to unspoken objections is to let the prospect talk more. Ask open-ended questions, lean forward, and listen intently to the answers. The more a prospect has an opportunity to answer your questions; the more likely it is that she will tell you exactly what might be holding her back from buying.
Excuses, Excuses
The second form of objections is excuses. These are usually instinctive reactions to any sales approach. Excuses are not really serious. The best salespeople nod, smile, agree, and then ask a question to take control of the conversation. The very best way to handle any initial sales resistance, including excuses and impulse responses is with these words: "That's all right. Most people in your situation felt the same way when I first called on them. But now they have become our best customers, and they recommend us to their friends and family."
Malicious Objections
Then there are malicious objections. Because you call on many different people, you will occasionally call on individuals who are unhappy or angry about their current situations. Since they cannot shout at their bosses or spouses, they take it out on the friendly salesperson. These people tend to be negative in their demeanor and behavior. The way to deal with malicious objections is to realize that you are not the target. Your job, as a professional, is to remain calm, confident, positive, and polite throughout.
Request For Information
The fourth most common objection is a request for information. This is the best type of objection for you to hear, because you know how to answer this as well or better than any other part of your presentation. Whenever a prospect asks for information about the results or benefits of your product or service, you are moving into an excellent field position to make a sale.
Show—Off Objections
Another type of objection is the show-off objection. Sometimes prospects try to show you how much they already know about your product or service. They make sophisticated observations or ask you complex questions about your product, service or industry. When this happens, respond by taking the low road. Show how impressed you are by how much the prospect already knows. Remember, when you make a prospect feel important by listening to him with rapt attention, he is much more likely to warm up and buy from you.
Subjective Objections
The sixth most common type of objection is subjective or personal objections. These objections are aimed to you as a person. Whenever a prospect becomes critical of you, it could be a sign that you are talking too much about yourself. If this happens, it is important to make the customer the center of attention, and the subjective objections will stop.
Objective Objections
You may also hear the objective or factual objection. These are directed at your product offering and the claims that you make in terms of what it will do for the customer. If you can answer an objective objection, you can often close the sale.
General Sales Resistance
The eighth most common form of objection is what we have called general sales resistance. This always occurs at the beginning of a presentation. Until you neutralize this general sales resistance, the customer will be listening to you with a closed mind. When the prospect relaxes and gives you permission to ask him questions, you immediately begin your pre-selected open-ended questions to qualify the prospect and find out what he really needs that you can provide for him.
Last Ditch Objections
The final most-common objection is called the last-ditch objection. You have made your presentation, and the prospect clearly sees how she would be better off with your product or service. She knows and understands what you're selling and how much you're asking. She is on the verge of making a buying decision, but she still hesitates. Listen with respect to your final objections; then assure the prospect that yours is an excellent product or service, at a good price, and that everyone else who is using it today is very happy with their decision. You have then overcome the last-ditch objection.
Action Exercises
Hear the prospect out completely each time he objects or asks a question, practice all your listening skills.
Monday, November 30, 2009
Price objection handling strategies
Price objection handling strategies
Strategy How to use it
By Carleadbest
Postpone
Postpone talking about prices until after you have demonstrated the value.
“Before we can discuss prices we both need to be absolutely sure that we are
right for you. So, if it’s all right with you, we’ll come back and discuss the
price in detail when we both know what you need.”
Make the value
obvious
Paint a graphic picture of what is at stake, quantify the value, and help them
to understand how it will make them feel.
Break into chunks Break down the price into small chunks, such as cost per use or per week.
“And you can enjoy all those benefits for just RM 2.75 a week”
Compare to them Compare your prices to theirs.
“Tell me, are you always the cheapest supplier in your market? Well, neither
are we. Like you, we charge a fair price for great products and services. And
that’s why I’m so excited about working with you. But if all you want is the
cheapest widget on the market, I can introduce you to several cheap firms
from whom you'll get exactly what you pay for.”
Compare to rivals If they tell you that Fred down the road is cheaper, say something like:
“I am sure Fred knows what his widgets are worth. Just as we know what
ours are worth. And that’s why ours aren’t the cheapest on the market.”
Give them a choice
“Most customers looking for this level of service are prepared to invest(RM middle). A fortunate few can invest between (RM high) and (RM very high).
And then there are some on a budget who can’t go above about (RM low).
May I ask which of those three categories you fit into most comfortably?”
Start by mentioning a (RM middle) price that is about 20% above the (RM low)
price you would be happy to receive. Then quote a (RM high) to (RM very high)
range that is about 50% to 100% above your (RM low) price. Then tell them the
(RM low) price – which you secretly know is actually the price you need. This
taps into the subconscious belief that Expensive = Good, and that Cheap =
Bad. And, as a result, many customers will accept one of the other two
(higher) prices.
Focus on the difference
Focus on the difference between what they say they are willing to pay, and
what you are asking.
“You’ll get all the extra benefits you were getting so excited about a minute
ago for just RM4.99 a week more than you’re paying at the moment. That’s a
big return on a very small investment, isn’t it?”
Change the package
Strip out some elements of the package to bring the cost within their budget.
Easy to pay Remove the “we haven’t got the money” objection by arranging
finance or accepting credit cards
Reverse the risk Reduce the customer’s risk – perhaps with a money back guarantee
Trade Trade something valuable for a price cut eg prompt payment, larger order,
long term commitment, special deals on their products, sales leads and
referrals etc. Ask us for a script showing exactly how to do this (AR13)
Walk away If all else fails, be prepared to walk away – or perhaps introduce them to a lower cost supplier who will pay you a commission for the sales lead
Strategy How to use it
By Carleadbest
Postpone
Postpone talking about prices until after you have demonstrated the value.
“Before we can discuss prices we both need to be absolutely sure that we are
right for you. So, if it’s all right with you, we’ll come back and discuss the
price in detail when we both know what you need.”
Make the value
obvious
Paint a graphic picture of what is at stake, quantify the value, and help them
to understand how it will make them feel.
Break into chunks Break down the price into small chunks, such as cost per use or per week.
“And you can enjoy all those benefits for just RM 2.75 a week”
Compare to them Compare your prices to theirs.
“Tell me, are you always the cheapest supplier in your market? Well, neither
are we. Like you, we charge a fair price for great products and services. And
that’s why I’m so excited about working with you. But if all you want is the
cheapest widget on the market, I can introduce you to several cheap firms
from whom you'll get exactly what you pay for.”
Compare to rivals If they tell you that Fred down the road is cheaper, say something like:
“I am sure Fred knows what his widgets are worth. Just as we know what
ours are worth. And that’s why ours aren’t the cheapest on the market.”
Give them a choice
“Most customers looking for this level of service are prepared to invest(RM middle). A fortunate few can invest between (RM high) and (RM very high).
And then there are some on a budget who can’t go above about (RM low).
May I ask which of those three categories you fit into most comfortably?”
Start by mentioning a (RM middle) price that is about 20% above the (RM low)
price you would be happy to receive. Then quote a (RM high) to (RM very high)
range that is about 50% to 100% above your (RM low) price. Then tell them the
(RM low) price – which you secretly know is actually the price you need. This
taps into the subconscious belief that Expensive = Good, and that Cheap =
Bad. And, as a result, many customers will accept one of the other two
(higher) prices.
Focus on the difference
Focus on the difference between what they say they are willing to pay, and
what you are asking.
“You’ll get all the extra benefits you were getting so excited about a minute
ago for just RM4.99 a week more than you’re paying at the moment. That’s a
big return on a very small investment, isn’t it?”
Change the package
Strip out some elements of the package to bring the cost within their budget.
Easy to pay Remove the “we haven’t got the money” objection by arranging
finance or accepting credit cards
Reverse the risk Reduce the customer’s risk – perhaps with a money back guarantee
Trade Trade something valuable for a price cut eg prompt payment, larger order,
long term commitment, special deals on their products, sales leads and
referrals etc. Ask us for a script showing exactly how to do this (AR13)
Walk away If all else fails, be prepared to walk away – or perhaps introduce them to a lower cost supplier who will pay you a commission for the sales lead
Saturday, November 28, 2009
Enough Talk
Enough Talk
Have you rallied the troops for one of your inspirational “let’s make it happen” talks. The problem with talking is that talking “ain’t” doing. A lot of hot air is expended talking about how great the coming month, quarter or year is going to be.
But talk is cheap. If you’re really serious about making this your best year ever, talk won’t get you there. So how do you really get things done? The short and simple answer is you just do something. The harder part of the answer is that you have to do something differently.
If you want the future to be better than the past, you must act today in a way that is different than the way you acted yesterday. If you stop and think about it for a few minutes, you can probably think of several things that you know you can and should be doing that you’re not. Your job is to quit talking, stop procrastinating, and start doing. Here are five ways to get moving.
1. Start small. Pick one thing that you’re not doing now that you know you should be doing. Maybe, you’re doing it, you’re just not doing it enough. For example, if you want to increase the number of sales appointments you have, look at where you are and increase it slightly. You’ll be more likely to follow-through with your goal if it’s realistic. So if you had eight appointments last week, set nine for next week. Gradual increases will yield results. Just keep increasing a little bit at a time.
2. Be accountable. Most people want to achieve more, but they’re not willing to be accountable for their actions and results. Accountability means discipline and discipline means doing the important things when you would rather be doing something else (or nothing at all).
3. Make mistakes. The more mistakes you make, the better. Sounds crazy, doesn’t it? But the reality is that if you’re making mistakes you’re actually doing something. Learn from your mistakes and you’ll be way ahead of the game.
4. Do it now. Create a sense of urgency to your day. Increase the tempo of your activities and you’ll find that you not only get more done, you’ll be more energized and focused.
5. Get your priorities straight. Don’t get caught in the time trap of having to check 87 things off of your to-do list. Instead, focus your time on the most important tasks. Ask yourself, “What’s the future impact of doing this now?” If the future impact is high, make it a priority. If the future impact is low, move on.
Have you rallied the troops for one of your inspirational “let’s make it happen” talks. The problem with talking is that talking “ain’t” doing. A lot of hot air is expended talking about how great the coming month, quarter or year is going to be.
But talk is cheap. If you’re really serious about making this your best year ever, talk won’t get you there. So how do you really get things done? The short and simple answer is you just do something. The harder part of the answer is that you have to do something differently.
If you want the future to be better than the past, you must act today in a way that is different than the way you acted yesterday. If you stop and think about it for a few minutes, you can probably think of several things that you know you can and should be doing that you’re not. Your job is to quit talking, stop procrastinating, and start doing. Here are five ways to get moving.
1. Start small. Pick one thing that you’re not doing now that you know you should be doing. Maybe, you’re doing it, you’re just not doing it enough. For example, if you want to increase the number of sales appointments you have, look at where you are and increase it slightly. You’ll be more likely to follow-through with your goal if it’s realistic. So if you had eight appointments last week, set nine for next week. Gradual increases will yield results. Just keep increasing a little bit at a time.
2. Be accountable. Most people want to achieve more, but they’re not willing to be accountable for their actions and results. Accountability means discipline and discipline means doing the important things when you would rather be doing something else (or nothing at all).
3. Make mistakes. The more mistakes you make, the better. Sounds crazy, doesn’t it? But the reality is that if you’re making mistakes you’re actually doing something. Learn from your mistakes and you’ll be way ahead of the game.
4. Do it now. Create a sense of urgency to your day. Increase the tempo of your activities and you’ll find that you not only get more done, you’ll be more energized and focused.
5. Get your priorities straight. Don’t get caught in the time trap of having to check 87 things off of your to-do list. Instead, focus your time on the most important tasks. Ask yourself, “What’s the future impact of doing this now?” If the future impact is high, make it a priority. If the future impact is low, move on.
12 Step Business Growth Plan
12 Step Business Growth Plan
Mark Deo
Running a small business requires having the right knowledge and applying self discipline on a daily basis. For this reason I have prepared what I call the "12 Step Business Growth Plan." Like the Alcoholics Anonymous 12 step plan, it is the core of what we need to do to keep us focused on proven management practices. I recommend that my students, listeners and clients print them and post them in their work area to review daily while planning for the next days activities.
1. Set Specific Goals
Goals must be specific. Saying that you're going to get more customers is not good enough. How many? By when? What type of customers? These are kind of questions you need to be asking yourself. Put your goals in writing. More than 90% of those people that write down specific, realistic, deadline oriented goals actually achieve their goals! Finally, visualize yourself in the future. Most people think in pictures. As you begin to right down your vision place yourself in the future and make it seem real. You will be amazed at the results.
2. Seek Out Change
Let's face it change is the only constant. The longer you "do what you've always done," the harder it will be to do something different. It is ideas that bring change about in our world. Nearly every great invention, system or model was born from the idea of a lone entrepreneur. Psychologists are now saying that creativity is a "learned trait." Experiment with creative ways of doing things. Don't just settle for the "easy way." Do this daily and watch you creativity grow and your business soar!
3. Focus on Branding
Branding is not merely for the BIG players. Entrepreneurs and small business owners can also differentiate themselves with this kind of branding strategy. In fact it is even MORE important for smaller organizations to set themselves apart, particularly if they are competing with the BIG GUYS! Remember, your customer's perceptions of WHO you are is all the matters to them. Often times your reputation is wrapped up in what advertising guru, Bill Bernbach called the Unique Selling Proposition (USP). What sets you apart from the crowd? What do you do that no one else does? This is far more important than the quality or price of your product or service. Everything that we do or say both internally and externally should revolve around this.
4. Be an Influencer NOT a Salesperson
Our goal is not to SELL our customers but rather to influence them. When we SELL them, they move away from us because they are fearful of being coerced into making the wrong decision. Ask more questions. Find out what's important to them. Find a way to get them to look up to you. We must earn the right to influence customers by aligning ourselves with them in a way that sets us apart as a friend, advisor and confidant. Then we will become the ONLY solution to their needs.
5. Speak in Terms of the Customers Interest
As the great master of human relations, Dale Carnegie said, we must "speak in terms of the other persons interest." The reason people are running away from you is that you are trying to TAKE. Be willing to give. "What can you give?," you ask? If nothing else, give them an education. That's right EDUCATE your prospect and you will create a customer for life! Ask plenty of questions. Show that you really care. You will learn more, build stronger relationships and get more business. Oh yea, you'll have more fun too.
6. Develop a Practical Sales and Marketing Plan
A sales and marketing plan creates the kind of attention you need to get in front of the right type of organizations. It is what attracts people to you! A good sales and marketing plan implemented cost effectively, efficiently, and consistently, will eliminate the need for "cold calls!" Your marketing plan should also include a sales plan. There's no other sure way to gage the financial growth and progress of your business. You need a realistic map for where the sales will come from, how they'll come and from whom.
7. Know Your Customers
Changes in your customers' preferences and your competitors' products and services can leave you in the dust unless you get to know your customers well. What is it tat they are looking for today? What will they likely want in the future? What are their buying patterns? How can you be a resource for them even if you don't have the right products or services for them now!
8. Manage Your Cash Daily
Only cash flow can keep a company alive. No matter how impressive your company's profits might be, if you run out of cash, it's over! Learn the importance of aligning performance measurement goals to gross margin. Learn about various pricing strategies, contribution margins and how to stay on top of your cash position every minute of the day if necessary.
9. Be a Leader
Jack Welch, CEO of G.E. loved the small business model so much his first step in turning around G.E. was to break up the giant into 350 smaller companies. He told Business Week Magazine, " Most small companies are simple informal and grow on good ideas. Think small," he said. Understand your role as the leader of your organization is to inspire, simplify processes, drive the company toward their vision, spread the gospel and admit your mistakes and keep things ever moving forward..
10. Get Help
Get an advisory board or a mentor! Sounds crazy for a small operation? It's not! The board can be family members that you trust, or friends. Ask them to be your board of directors and review your business plans and results with them. Having someone to bounce ideas off and get an objective opinion is critical.
11. Communicate Clearly
You might be the key to everything BUT you cannot DO everything and grow at the same time. Even modest success can overwhelm you unless you hire the right staff and delegate responsibility. Good communication skills are the key to winning strong relationships. Learn to listen in an active way. Stop thinking about what you are going to say next and put the focus back on the customer.
12. Don't Give Up!
Some of the most successful entrepreneurs failed several times before doing extremely well. So, if you're failing, fail. And fail fast. And learn. And try again, with this new wisdom. Do NOT give up. In a recession such as we are experiencing today, only the persistent will thrive!
Mark Deo
Running a small business requires having the right knowledge and applying self discipline on a daily basis. For this reason I have prepared what I call the "12 Step Business Growth Plan." Like the Alcoholics Anonymous 12 step plan, it is the core of what we need to do to keep us focused on proven management practices. I recommend that my students, listeners and clients print them and post them in their work area to review daily while planning for the next days activities.
1. Set Specific Goals
Goals must be specific. Saying that you're going to get more customers is not good enough. How many? By when? What type of customers? These are kind of questions you need to be asking yourself. Put your goals in writing. More than 90% of those people that write down specific, realistic, deadline oriented goals actually achieve their goals! Finally, visualize yourself in the future. Most people think in pictures. As you begin to right down your vision place yourself in the future and make it seem real. You will be amazed at the results.
2. Seek Out Change
Let's face it change is the only constant. The longer you "do what you've always done," the harder it will be to do something different. It is ideas that bring change about in our world. Nearly every great invention, system or model was born from the idea of a lone entrepreneur. Psychologists are now saying that creativity is a "learned trait." Experiment with creative ways of doing things. Don't just settle for the "easy way." Do this daily and watch you creativity grow and your business soar!
3. Focus on Branding
Branding is not merely for the BIG players. Entrepreneurs and small business owners can also differentiate themselves with this kind of branding strategy. In fact it is even MORE important for smaller organizations to set themselves apart, particularly if they are competing with the BIG GUYS! Remember, your customer's perceptions of WHO you are is all the matters to them. Often times your reputation is wrapped up in what advertising guru, Bill Bernbach called the Unique Selling Proposition (USP). What sets you apart from the crowd? What do you do that no one else does? This is far more important than the quality or price of your product or service. Everything that we do or say both internally and externally should revolve around this.
4. Be an Influencer NOT a Salesperson
Our goal is not to SELL our customers but rather to influence them. When we SELL them, they move away from us because they are fearful of being coerced into making the wrong decision. Ask more questions. Find out what's important to them. Find a way to get them to look up to you. We must earn the right to influence customers by aligning ourselves with them in a way that sets us apart as a friend, advisor and confidant. Then we will become the ONLY solution to their needs.
5. Speak in Terms of the Customers Interest
As the great master of human relations, Dale Carnegie said, we must "speak in terms of the other persons interest." The reason people are running away from you is that you are trying to TAKE. Be willing to give. "What can you give?," you ask? If nothing else, give them an education. That's right EDUCATE your prospect and you will create a customer for life! Ask plenty of questions. Show that you really care. You will learn more, build stronger relationships and get more business. Oh yea, you'll have more fun too.
6. Develop a Practical Sales and Marketing Plan
A sales and marketing plan creates the kind of attention you need to get in front of the right type of organizations. It is what attracts people to you! A good sales and marketing plan implemented cost effectively, efficiently, and consistently, will eliminate the need for "cold calls!" Your marketing plan should also include a sales plan. There's no other sure way to gage the financial growth and progress of your business. You need a realistic map for where the sales will come from, how they'll come and from whom.
7. Know Your Customers
Changes in your customers' preferences and your competitors' products and services can leave you in the dust unless you get to know your customers well. What is it tat they are looking for today? What will they likely want in the future? What are their buying patterns? How can you be a resource for them even if you don't have the right products or services for them now!
8. Manage Your Cash Daily
Only cash flow can keep a company alive. No matter how impressive your company's profits might be, if you run out of cash, it's over! Learn the importance of aligning performance measurement goals to gross margin. Learn about various pricing strategies, contribution margins and how to stay on top of your cash position every minute of the day if necessary.
9. Be a Leader
Jack Welch, CEO of G.E. loved the small business model so much his first step in turning around G.E. was to break up the giant into 350 smaller companies. He told Business Week Magazine, " Most small companies are simple informal and grow on good ideas. Think small," he said. Understand your role as the leader of your organization is to inspire, simplify processes, drive the company toward their vision, spread the gospel and admit your mistakes and keep things ever moving forward..
10. Get Help
Get an advisory board or a mentor! Sounds crazy for a small operation? It's not! The board can be family members that you trust, or friends. Ask them to be your board of directors and review your business plans and results with them. Having someone to bounce ideas off and get an objective opinion is critical.
11. Communicate Clearly
You might be the key to everything BUT you cannot DO everything and grow at the same time. Even modest success can overwhelm you unless you hire the right staff and delegate responsibility. Good communication skills are the key to winning strong relationships. Learn to listen in an active way. Stop thinking about what you are going to say next and put the focus back on the customer.
12. Don't Give Up!
Some of the most successful entrepreneurs failed several times before doing extremely well. So, if you're failing, fail. And fail fast. And learn. And try again, with this new wisdom. Do NOT give up. In a recession such as we are experiencing today, only the persistent will thrive!
Friday, November 27, 2009
1 in 3 laptops die in first three years
Wed Nov 18, 2009 1:31PM EST
Yahoo News
So your new laptop computer died in inside of a year. "I'll never buy a computer from [insert manufacturer name here] again!" I've heard the protests time and time again.
( Click the picture for better view )
Yeah, maybe you got a lemon, but no matter which brand you bought, you truly are not alone in this situation: An analysis of 30,000 new laptops from SquareTrade, which provides aftermarket warranty coverage for electronics products, has found that in the first three years of ownership, nearly a third of laptops (31 percent) will fail.
That's actually better than I would have expected based on my experience and observations on how people treat their equipment.
SquareTrade has more detailed information (the full PDF of the company's study is available here) on the research on its website. But here are some highlights about how, why, and which laptops fail:
> 20.4 percent of failures are due to hardware malfunctions. 10.6 percent are due to drops, spills, or other accidental damage.
> Netbooks have a roughly 20 percent higher failure rate due to hardware malfunctions than standard laptops. The more you pay for your laptop, the less likely it is to fail in general (maybe because you're more careful with it?).
> The most reliable companies? A shocker: Toshiba and Asus, both with below a 16 percent failure rate due to hardware malfunction.
> The least reliable brands? Acer, Gateway, and HP. HP's hardware malfunction rate, the worst in SquareTrade's analysis, is a whopping 25.6 percent.
None of the numbers are overly surprising. As SquareTrade notes, "the typical laptop endures more use and abuse than nearly any other consumer electronic device (with the possible exception of cell phones)," so failures are really inevitable.
Want to keep your notebook running for longer than a few years? Ensure your laptop is as drop-proofed as possible (use a padded bag or case, route cords so they won't be tripped on, lock children in another room), and protect it as best you can from heat and dust.
Wed Nov 18, 2009 1:31PM EST
Yahoo News
So your new laptop computer died in inside of a year. "I'll never buy a computer from [insert manufacturer name here] again!" I've heard the protests time and time again.
( Click the picture for better view )
Yeah, maybe you got a lemon, but no matter which brand you bought, you truly are not alone in this situation: An analysis of 30,000 new laptops from SquareTrade, which provides aftermarket warranty coverage for electronics products, has found that in the first three years of ownership, nearly a third of laptops (31 percent) will fail.
That's actually better than I would have expected based on my experience and observations on how people treat their equipment.
SquareTrade has more detailed information (the full PDF of the company's study is available here) on the research on its website. But here are some highlights about how, why, and which laptops fail:
> 20.4 percent of failures are due to hardware malfunctions. 10.6 percent are due to drops, spills, or other accidental damage.
> Netbooks have a roughly 20 percent higher failure rate due to hardware malfunctions than standard laptops. The more you pay for your laptop, the less likely it is to fail in general (maybe because you're more careful with it?).
> The most reliable companies? A shocker: Toshiba and Asus, both with below a 16 percent failure rate due to hardware malfunction.
> The least reliable brands? Acer, Gateway, and HP. HP's hardware malfunction rate, the worst in SquareTrade's analysis, is a whopping 25.6 percent.
None of the numbers are overly surprising. As SquareTrade notes, "the typical laptop endures more use and abuse than nearly any other consumer electronic device (with the possible exception of cell phones)," so failures are really inevitable.
Want to keep your notebook running for longer than a few years? Ensure your laptop is as drop-proofed as possible (use a padded bag or case, route cords so they won't be tripped on, lock children in another room), and protect it as best you can from heat and dust.
Handling Objections
Handling Objections
By Carleadbest
I’m not interested!
If the customer states the above statement at the start of the call or even before you do a presentation of your product, you need to check your rate of speech/tone.
You have to build a good deal of rapport with the customer.
You also need to check with the customer as to why he/she is not interested, probe the customer to find the reason behind why he/she is not interested.
You need to use rebuttal statements such as “Sir/Ms help me understand the reason as to why you’re not interested…. Because everybody said just the same thing at the beginning but when they actually listened to what I had to say they were more than glad to buy the product and even thanked me for it at the end.
I’m Busy right now!
The customer could use the above statement to avoid your conversation or the customer would definitely be busy at that point of time.
At situations like these use a polite tone and check with the customer if he/she could spare a few minutes…
Use statements such as “Sir/Ms if you could just spare a few minutes of your precious time I would quickly explain as to why I have called you today!
Or if the customer does not want to spare a few minutes, quickly ask the customer a specific/comfortable time you could call back, thank the customer and hang up
quickly...
Call me back!
When ever a customer requests you to call back, ensure that you check the level of interest the customer shows towards your presentation.
Put in efforts to convert the call into a sales call but if the customer persists that you call later, always keep the customer excited about your product by making him feel that there is a lot more about your product he has to know.
Use statements like “I will definitely call back so that I can explain to you the added benefits and advantages that this product can give you”
I need to consult my family (wife/husband/father/mother…)
If a customer uses the above statement you can use statements like-I completely understand this is an important decision to take, I’m sure that when you buy this product your wife/husband/father/mother… know about it, they would be surprised and happy that you have invested your money on the right product.
I would call you and let you know if I need it.
Usually when a customer uses the above statement, he/she is simply not interested and is just trying to avoid you, at a situation like this always use a polite tone and use statements like…..
“I would be more than glad to take your call Sir/Ms but since this is an outbound department I would not be able to take your call”
but I would be more than happy to call you at a convenient of yours…. please let me know as to what would be a convenient time and I’ll ensure that I call you back.
…. also try to buy time from the customer so that you can complete your product presentation and make a sale.
I already have something similar to what you’re selling.
Congratulate the customer when he uses the above statement since he already knows the importance of the product but let him know that your product has a lot more to offer.
You need to probe the customer about his/her product details such as features, benefits and advantages. Match the USP’s of your product to the customers needs and convince the customer.
I don’t think I can afford it/the price is too high…
Customers use the above statement only when they are not clear with all the USP’s of your product. They need to know that your product has all the qualities that no other product has, and that there is always a small price attached when it comes to quality.
I don’t have my credit card with me right now….
A customer who says that he is not carrying his card sometimes says so only to avoid the sale.
Sometimes it may be true that he is really not carrying it, at a situation as such you need to ensure that you probe the customer and check if his family members can help him with the credit card details, or you can ask him for a suitable time to call back and get the details.
I don’t trust you I don’t want to give you my bank details?
When a customer is not convinced or sure about your product he would use such objections.
Always ensure that the customer is completely satisfied with the product and then try to close the call never try to push a sale.
You can also use statements like…. “Well Sir/Ms we at ….company understand that your time is precious and would not call you if this product wouldn’t benefit you, besides you are one of our potential customers who we would not want to loose.. We would ensure that all your details would be kept strictly confidential.
How can I be sure that you are calling me from the respective company?
Always build trust with your customers, being professional and confident on calls builds trust.
Let the customer know about the details of your company and give him/her your name in a confident tone which makes them believe you.
Use positive cues to ensure customer feels comfortable to give his details, never sound demanding but sound assertive.
I don’t think I need this….
A disinterested customer would usually come up with a line like this. He will say this even before they have heard what you have to offer!
Don’t force yourself on the customer. Just let them know what you have to offer and how it will benefit them. Make them see how the product will be useful.
I’m not convinced…
These customers are people who need in-depth convincing about a particular product.
If they are unable to see the benefit of it, they will directly refuse. For these customers, you need to be well prepared with product knowledge and additional questions as well.
Out of the box thinking is a requirement in such cases. Once you have convinced a person like this, they will be a loyal customer for life.
I think I’m interested but can you explain a little more in detail…
The first part of your presentation has worked! Now clinch the deal. Make sure you give the customer just what they want and nothing more.
Be precise and to the point and present in a manner that is appealing to the customer.
Sure I’m interested talk to me…
The customer is all ears to listen! Make use of the opportunity. Make sure not to bore them or make them lose interest.
But company x offered me a better deal than yours……
This is a customer who is trying to get the best deal/value for their money. They would like to see whether you will stretch your benefits in order to get them as your customer. This is a time when your convincing and presentation skills are put to the test.
Even if the other company is offering more than yours, you must be able to convince them of the benefits of your company ( value for money, reliability, service etc..)
Are you trying to sell me something…..
The answer is “Yes”. Do not beat around the bush with such customers. Make sure you do not waste their time. Be precise, present and make the best of the opportunity.
Why do guys keep calling me….
This customer has been a victim of a lot of calls for sales, credit cards etc…. . On a call like this, you have very little time to convey your message. Let them know that you appreciate them taking time to listen and make it quick. Even if it just a brief description of the product, ensure it stays with them and by the end of your presentation, they want to know more.
This customer has been the victim of many a phone call from not very useful services or products. Ensure you keep a polite tone of voice with this customer and be a good listener. Here is a need for precise communication again. Make it short and sweet and get your point across.
I like the deal but I want something in black and white to read first……
This is one cautious customer! They will make no deal unless they see it in black and white! If you have any documentation to offer, do it immediately.
The other alternative is that your presentation should contain all that they are looking for in the documentation!
What do I need to do to get your product?
Here is a wonderful opportunity for you to be able to present your service. Give them the direct methods.
Also offer them the alternate methods ( e.g. payment modes, contact via phone/email)…
CUSTOMERS ARE LOOKING FOR GOOD SERVICE ABOVE THE PRODUCT. IF THEY ARE ASSURED GOOD SERVICE, THEY ARE YOUR CUSTOMER’S FOR A LIFETIME!
Now lets get started!!!
Sales Process
Sales Process
Sales (Selling) and Buying (Purchasing)
• One sells goods (physical products), services and concepts/ideas to some one else.
• Selling generally involves giving away the goods, services or ideas to some one in exchange of money.
• One can not sell unless some one wants to buy what one wants to sell.
• Seller needs to convince the buyer to buy the things he wishes to sell. Buyer does not buy unless he feels convinced.
• As a person selling his stuff has to go through a systematic sales (or selling process), the buyer also goes through a pretty much systematic process of buying the stuff.
• Logically, the selling process must overlap (superimpose) and complement the buying process for both the processes to be successful. It should go parallel with the buying process.
• Therefore, knowledge of purchasing process or buying process is important for a seller.
Customer Motivation to Buy
• Buyers have needs and to satisfy those needs, they buy. Customer needs are the focal point of any sales transaction.
• Buyers buy for their reasons and not necessarily for seller's reasons.
• Customers buy a product for what they perceive it will do for their unmet needs, not for what that product is physically.
• Customers buy solutions and benefits and not product features and specifications.
• Human beings are unique and complex.
• Needs of human beings vary from person to person and from time to time. For example, a hungry person will seek food where as another person may have a need not to eat or to diet. This person will look out for things other than food that will solve his this need.
• According to Abraham Maslow human needs are classified in five categories and are satisfied in a hierarchical order. Refer: http://motivation-people.blogspot.com/ (Motivation)
• This need hierarchy or order of priority of needs in general is: Physical needs, security needs, social needs, ego needs and self-actualization needs.
• One or many of these unmet needs trigger a motivation in the form of a tension in the customer.
• Uncovering this need may be done by the buyer himself or facilitated by the seller. Once the need is thus uncovered, the buyer experiences a tension and in order to satisfy that need, the buyer is motivated to buy.
Buying Process
Stage 1: As described earlier, the customer must experience a tension state. The tension motivates the customer to zero in on his needs and to satisfy it. A sales person may introduce this tension by making the customer aware of a previously unrecognized need.
Stage 2: The sales person must present a product or service or an idea to the customer which fills that need. Here, anything from a catalogue to a sales person or a sales team can fill the role of a sales person.
Stage 3: The customer must overcome his natural reluctance to make a purchase decision and buy the product. It is here sales person's competence comes to play as to how he can convince that it is the article he is selling fulfils the best the customer needs. Moving away from a general want of a particular product that the customer is in knowledge of, the sales person should try to position his offer as the right solution to meet the customer need by uncovering his real needs though it may be quite different from the usual products the customer is wanting. It is necessary for a seller to know this difference between customer's want and his need.
Sales (Selling) Process: Need Based Solution and Benefit Selling
Sales process should complement the buying process.
Stage 1: Prospecting: Selling requires a procedure for generating a list of customer leads. This procedure is known as prospecting. Blind prospecting relies on various trade directories and other general listings of potential customers. With blind prospecting a small percentage of people contacted will be interested in the firm's offerings. Lead prospecting depends on past customers and others for referrals and studied identification of the prospective customers based on factors of shortlisting of prospects, data and analysis.
Stage 2: Approach: Approaching includes pre-approach and actual contact or meeting. During pre-approach, the sales person tries to obtain information about the customers characteristics from various sources. With this information, his effectiveness during contact/meeting improves. In contacting or meeting the customers, the sales person begins a communication or conversation with the prospective client.
Stage 3: Customer Needs: To begin with what the sales person may get from the prospective customer are his wants. He already knows some products or articles and he is expressing his requirements in those terms. The sales person should probe through a variety of questions, the customers exact needs by helping him to uncover those needs. It may include client's existing concerns, the types of solutions he expects, the feature and benefits he is interested in, the budget aspects etc.
Stage 4: Sales Presentation: Having known the needs of the customer, the sales person should work out a matching solution consisting of the most appropriate product from firm's product portfolio (examine customization if required and feasible), the associated services and benefits. He should then present this as his proposal to address the customer's needs. He can send a written proposal and make a physical presentation to the customer. He should also demonstrate the product (when appropriate). the purpose of sales presentation is to convert an undecided customer into a purchaser.
Stage 5: Handling Attitudes and Handling Objections: After presentation, sales person must answer questions from the customers. The questions are normally of two types: one requiring further information and the other raising attitudes/objections that must be settled before the sales is made. For more on this topic refer: http://objection-handling.blogspot.com/
Stage 6: Closing: Now the sales person is ready for the major goal i.e. closing the sale. this involves getting customer to agree to purchase. The sales person must be sure that no major questions remain unanswered before attempting to close the sale.
Stage 7: Follow-up: After the client has made the purchase, the sales people should follow-up with the customer to ensure that he is satisfied. By this the customer gains satisfaction, referrals are stimulated and repeat orders are possible.
Sales (Selling) and Buying (Purchasing)
• One sells goods (physical products), services and concepts/ideas to some one else.
• Selling generally involves giving away the goods, services or ideas to some one in exchange of money.
• One can not sell unless some one wants to buy what one wants to sell.
• Seller needs to convince the buyer to buy the things he wishes to sell. Buyer does not buy unless he feels convinced.
• As a person selling his stuff has to go through a systematic sales (or selling process), the buyer also goes through a pretty much systematic process of buying the stuff.
• Logically, the selling process must overlap (superimpose) and complement the buying process for both the processes to be successful. It should go parallel with the buying process.
• Therefore, knowledge of purchasing process or buying process is important for a seller.
Customer Motivation to Buy
• Buyers have needs and to satisfy those needs, they buy. Customer needs are the focal point of any sales transaction.
• Buyers buy for their reasons and not necessarily for seller's reasons.
• Customers buy a product for what they perceive it will do for their unmet needs, not for what that product is physically.
• Customers buy solutions and benefits and not product features and specifications.
• Human beings are unique and complex.
• Needs of human beings vary from person to person and from time to time. For example, a hungry person will seek food where as another person may have a need not to eat or to diet. This person will look out for things other than food that will solve his this need.
• According to Abraham Maslow human needs are classified in five categories and are satisfied in a hierarchical order. Refer: http://motivation-people.blogspot.com/ (Motivation)
• This need hierarchy or order of priority of needs in general is: Physical needs, security needs, social needs, ego needs and self-actualization needs.
• One or many of these unmet needs trigger a motivation in the form of a tension in the customer.
• Uncovering this need may be done by the buyer himself or facilitated by the seller. Once the need is thus uncovered, the buyer experiences a tension and in order to satisfy that need, the buyer is motivated to buy.
Buying Process
Stage 1: As described earlier, the customer must experience a tension state. The tension motivates the customer to zero in on his needs and to satisfy it. A sales person may introduce this tension by making the customer aware of a previously unrecognized need.
Stage 2: The sales person must present a product or service or an idea to the customer which fills that need. Here, anything from a catalogue to a sales person or a sales team can fill the role of a sales person.
Stage 3: The customer must overcome his natural reluctance to make a purchase decision and buy the product. It is here sales person's competence comes to play as to how he can convince that it is the article he is selling fulfils the best the customer needs. Moving away from a general want of a particular product that the customer is in knowledge of, the sales person should try to position his offer as the right solution to meet the customer need by uncovering his real needs though it may be quite different from the usual products the customer is wanting. It is necessary for a seller to know this difference between customer's want and his need.
Sales (Selling) Process: Need Based Solution and Benefit Selling
Sales process should complement the buying process.
Stage 1: Prospecting: Selling requires a procedure for generating a list of customer leads. This procedure is known as prospecting. Blind prospecting relies on various trade directories and other general listings of potential customers. With blind prospecting a small percentage of people contacted will be interested in the firm's offerings. Lead prospecting depends on past customers and others for referrals and studied identification of the prospective customers based on factors of shortlisting of prospects, data and analysis.
Stage 2: Approach: Approaching includes pre-approach and actual contact or meeting. During pre-approach, the sales person tries to obtain information about the customers characteristics from various sources. With this information, his effectiveness during contact/meeting improves. In contacting or meeting the customers, the sales person begins a communication or conversation with the prospective client.
Stage 3: Customer Needs: To begin with what the sales person may get from the prospective customer are his wants. He already knows some products or articles and he is expressing his requirements in those terms. The sales person should probe through a variety of questions, the customers exact needs by helping him to uncover those needs. It may include client's existing concerns, the types of solutions he expects, the feature and benefits he is interested in, the budget aspects etc.
Stage 4: Sales Presentation: Having known the needs of the customer, the sales person should work out a matching solution consisting of the most appropriate product from firm's product portfolio (examine customization if required and feasible), the associated services and benefits. He should then present this as his proposal to address the customer's needs. He can send a written proposal and make a physical presentation to the customer. He should also demonstrate the product (when appropriate). the purpose of sales presentation is to convert an undecided customer into a purchaser.
Stage 5: Handling Attitudes and Handling Objections: After presentation, sales person must answer questions from the customers. The questions are normally of two types: one requiring further information and the other raising attitudes/objections that must be settled before the sales is made. For more on this topic refer: http://objection-handling.blogspot.com/
Stage 6: Closing: Now the sales person is ready for the major goal i.e. closing the sale. this involves getting customer to agree to purchase. The sales person must be sure that no major questions remain unanswered before attempting to close the sale.
Stage 7: Follow-up: After the client has made the purchase, the sales people should follow-up with the customer to ensure that he is satisfied. By this the customer gains satisfaction, referrals are stimulated and repeat orders are possible.
Objection handling script
Objection handling script
Step What to say and do
By Carleadbest
1 Listen carefully
Learn to accept price objections for what they are… opportunities in disguise. They are a
sign of an interested customer, and with practice and skill, you will be able to overcome
them (without cutting your prices!) So don’t interrupt or try to handle the objection
immediately. Listen carefully and patiently to what they have to say.
2 Make sure you understand the objection
Do this by repeating your understanding of their objection back to them ie
“So, if I have understood you correctly, what you are saying is..…”
Do not carry on until they have confirmed that your understanding is correct.
3 Acknowledge the customer’s point of view
“I can understand why you might say that. In fact, one or two other clients started by
saying much the same thing to me in the past....”
4 Answer the objection
Continue from step 3 by saying something like:
“…. but what they found – and I'm sure you’ll find the same thing – was that....”
If they are objecting to the price, complete this sentence by using one or more of the
approaches set out in the “Price objection handling strategies” sheet
5 Check that your answer has met their concern.
“Does that make as much sense to you as it does to me?”
6 Ask for the business
“So would you like us to go ahead?”
If the customer still objects, go back to step 1 and start again.
If this still fails, ask more questions to help you establish their needs and the value to them of meeting those needs.
Step What to say and do
By Carleadbest
1 Listen carefully
Learn to accept price objections for what they are… opportunities in disguise. They are a
sign of an interested customer, and with practice and skill, you will be able to overcome
them (without cutting your prices!) So don’t interrupt or try to handle the objection
immediately. Listen carefully and patiently to what they have to say.
2 Make sure you understand the objection
Do this by repeating your understanding of their objection back to them ie
“So, if I have understood you correctly, what you are saying is..…”
Do not carry on until they have confirmed that your understanding is correct.
3 Acknowledge the customer’s point of view
“I can understand why you might say that. In fact, one or two other clients started by
saying much the same thing to me in the past....”
4 Answer the objection
Continue from step 3 by saying something like:
“…. but what they found – and I'm sure you’ll find the same thing – was that....”
If they are objecting to the price, complete this sentence by using one or more of the
approaches set out in the “Price objection handling strategies” sheet
5 Check that your answer has met their concern.
“Does that make as much sense to you as it does to me?”
6 Ask for the business
“So would you like us to go ahead?”
If the customer still objects, go back to step 1 and start again.
If this still fails, ask more questions to help you establish their needs and the value to them of meeting those needs.
The Future Belongs to the Risk Takers
The Future Belongs to the Risk Takers
By Brian Tracy
The future belongs to the risk takers, not the security seekers. Life is perverse in the sense that the more you seek security, the less of it you have. But the more you seek opportunity, the more likely it is that you will achieve the security that you desire.
Action is Everything
If learning about success was all that it took to do great things with your life, then your success would be guaranteed. The bookstores are full of self-help books, each one of them loaded with ideas that you can use to be more successful. The fact is, however, that all the best advice in the world will only help you if you can motivate yourself to take persistent, continuous action in the direction of your goals until you succeed.
Self-Discipline is the Core Quality
The single most important quality of success is self-discipline. Self-discipline means that you have the ability, within yourself, based on your strength of character and willpower, to do what you should do, when you should do it, whether you feel like it or not. Character is the ability to follow through on a resolution after the enthusiasm with which the resolution was made has passed. It is not what you learn that is decisive for your future. It is whether or not you can discipline yourself to pay the price, over and over, until you finally obtain your objective.
"Accomplish More in a Month Than Most People Accomplish in a Year"
Your ability to discipline yourself "to do what you should, when you should do it, whether you feel like it or not," is the key to becoming a great person and living a great life. When you develop the habits of self-discipline, you will accomplish more in a month than most people accomplish in a year. Click for more >>
Persisitence is Self-Discipline in Action
Perhaps the most important demonstration of self-discipline is your level of persistence when the going gets tough. Persistence is self-discipline in action. Persistence is the true measure of individual human character. Your persistence is, in fact, the real measure of your belief in yourself and your ability to succeed.
The Common Quality of Success in History
The history of the human race is the story of the triumph of persistence. Every great man or women has had to endure tremendous trials and tribulations before reaching the heights of success and achievement. The endurance and perseverance is what made them great.
Your Guarantee of Eventual Success
Calvin Coolidge, a president who was so reluctant to speak in public that he was given the nickname of “Silent Cal,” will go down in history for his simple but memorable words on success. He wrote, “Press on. Nothing in the world can take the place of persistence. Talent will not; nothing is more common than unsuccessful men with talent. Genius will not; unrewarded genius is almost a proverb. Education alone will not; the world is full of educated derelicts. Persistence and determination alone are omnipotent.”
Action Exercise
Identify the biggest challenge or problem facing you today on the way to achieving your biggest goal. Imagine that it has been sent to test your resolve and desire. Decide that you will never give up.
By Brian Tracy
The future belongs to the risk takers, not the security seekers. Life is perverse in the sense that the more you seek security, the less of it you have. But the more you seek opportunity, the more likely it is that you will achieve the security that you desire.
Action is Everything
If learning about success was all that it took to do great things with your life, then your success would be guaranteed. The bookstores are full of self-help books, each one of them loaded with ideas that you can use to be more successful. The fact is, however, that all the best advice in the world will only help you if you can motivate yourself to take persistent, continuous action in the direction of your goals until you succeed.
Self-Discipline is the Core Quality
The single most important quality of success is self-discipline. Self-discipline means that you have the ability, within yourself, based on your strength of character and willpower, to do what you should do, when you should do it, whether you feel like it or not. Character is the ability to follow through on a resolution after the enthusiasm with which the resolution was made has passed. It is not what you learn that is decisive for your future. It is whether or not you can discipline yourself to pay the price, over and over, until you finally obtain your objective.
"Accomplish More in a Month Than Most People Accomplish in a Year"
Your ability to discipline yourself "to do what you should, when you should do it, whether you feel like it or not," is the key to becoming a great person and living a great life. When you develop the habits of self-discipline, you will accomplish more in a month than most people accomplish in a year. Click for more >>
Persisitence is Self-Discipline in Action
Perhaps the most important demonstration of self-discipline is your level of persistence when the going gets tough. Persistence is self-discipline in action. Persistence is the true measure of individual human character. Your persistence is, in fact, the real measure of your belief in yourself and your ability to succeed.
The Common Quality of Success in History
The history of the human race is the story of the triumph of persistence. Every great man or women has had to endure tremendous trials and tribulations before reaching the heights of success and achievement. The endurance and perseverance is what made them great.
Your Guarantee of Eventual Success
Calvin Coolidge, a president who was so reluctant to speak in public that he was given the nickname of “Silent Cal,” will go down in history for his simple but memorable words on success. He wrote, “Press on. Nothing in the world can take the place of persistence. Talent will not; nothing is more common than unsuccessful men with talent. Genius will not; unrewarded genius is almost a proverb. Education alone will not; the world is full of educated derelicts. Persistence and determination alone are omnipotent.”
Action Exercise
Identify the biggest challenge or problem facing you today on the way to achieving your biggest goal. Imagine that it has been sent to test your resolve and desire. Decide that you will never give up.
Know Their Objectives
Know Their Objectives
By Carleadbest
One of the easiest things for you to learn is 'why' people are meeting with you. They are looking for something. They have a set of goals or objectives, a or a problem they want solved. Ask and you will be rewarded with their business. It is truly amazing what people will tell you when you simply ask them what they are seeking:
“What are you trying to accomplish?”
“Who are you trying to protect?”
“Why is that important to you?”
“Where would you like to go with this?”
“How would that effect your plans or situation?”
“When would you like to be able to…?”
And there are a host more questions you can easily ask about their specific situation.
Before you can make a sales presentation and close a sale, you need to know why these people are meeting with you. What are they seeking? Where are they focused? What will make them happy?
“It's not the answer,
it's the quality of the question!”
By Carleadbest
One of the easiest things for you to learn is 'why' people are meeting with you. They are looking for something. They have a set of goals or objectives, a or a problem they want solved. Ask and you will be rewarded with their business. It is truly amazing what people will tell you when you simply ask them what they are seeking:
“What are you trying to accomplish?”
“Who are you trying to protect?”
“Why is that important to you?”
“Where would you like to go with this?”
“How would that effect your plans or situation?”
“When would you like to be able to…?”
And there are a host more questions you can easily ask about their specific situation.
Before you can make a sales presentation and close a sale, you need to know why these people are meeting with you. What are they seeking? Where are they focused? What will make them happy?
“It's not the answer,
it's the quality of the question!”
10 Tips for Winning Sales Presentations
10 Tips for Winning Sales Presentations
By Kevin Davis
The sales presentation is your chance to show and tell, but it's not all show and tell. You also need to think strategically about the customer's buying process and their needs, your competitors' offerings and why your solution is best. Here are 10 keys to planning a delivering a winning sales presentation.
1. Find out in advance how much time you'll have.
Have you ever had a key decision-maker leave in the middle of your presentation because he or she was out of time? You aren't holding the attention of a prospect who is looking at the clock! At the beginning of the call, ask how much time the prospect has set aside. Then adjust your presentation to take more no more than 60 percent of the allotted time. Why only 60 percent? Because your prospect's decisions to act typically occur at the end of a meeting, so you want to allow enough time to resolve any remaining issues and reach an agreement.
2. Another question I ask at the beginning of every sales presentation is, "Since the last time we met, has anything changed?"
If your competitor gave them a presentation yesterday you may have a few new hurdles to overcome. And the sooner you know what those hurdles are, the more time you have to plan a response.
3. The next question you want to ask is "Where are you in your decision process?"
If they tell me they have scheduled presentations with three suppliers, and I'm the first presenter, I know the chances of them agreeing to a decision at the end of my presentation are virtually nil. Why? You play the customer. Suppose you schedule appointments with three suppliers -- would you make a decision at the end of the first presentation? No, because it would take more time, energy and stress to cancel the appointments than it would to just go ahead with them.
Also, you wouldn't cancel them because comparison is necessary to recognize value. Recently one of my clients showed me his new sales brochure -- he was obviously very pleased with it. My immediate reaction was that it looked okay but it did not strike me one way or the other. Then I asked him to show me what he was using before -- and then I KNEW how much better this brochure was then the last! It was the comparison that allowed me to recognize the improvement. Your customers need comparison too, to recognize your value. So if it happens that you're the first presenter, don't go for the close -- because you would be asking for something you can't get -- and your customer will think you are pushy. Instead, come up with a reason to come back and see them after their other presentations -- when they will likely be in a position to make a decision.
For this reason I prefer to present last because it's closest to the customer's point of decision. And that's….
4. The fourth key to effective presentations -- try to be the last presenter.
If I'm the final supplier to present, and I've shown why I'm their best choice, it's only reasonable to ask for a commitment to buy. In one of the largest sales opportunities I've ever worked on -- I was the third of three presenters to a committee of seven decision makers, the most senior of whom was the executive vice president, a Mr. Burns. About 10 minutes before the conclusion of my presentation the phone rang -- Mr. Burns' cab had arrived -- he had a plane to catch. As he stood up I said, "Mr. Burns, before you leave, may I ask you one final question? He said, "Sure." I asked him, "Now that you've evaluated all the options, is there any reason why my solution is not your best option?"
He said, "Yep!" And out it came -- his final concern about my solution… It was a concern that I was ready for -- I had anticipated that it would be a concern -- but I never got the chance to respond to it because his comment triggered a firestorm of conversation around the conference table. Mr. Burns missed his cab -- but several other decision- makers drove him to the airport so they could continue their discussion. A few weeks later I learned that, in the car, a lower-level decision-maker had resolved his concern -- and I won the sale! This example also points out that today, as much as 90 percent of the sale takes place when you're not there. So you've got to make sure that the prospect(s) championing your cause have the tools to sell other decision-makers for you.
5. A good sales presentation starts with a quick review of the customers' goals and objectives.
Then list on a flip chart each of the customer's buying criteria. This list of criteria is your outline for an effective sales presentation. Show how your solution meets and exceeds each decision factor.
6. Throughout your presentation, get reaction from your prospects.
After demonstrating a capability you could ask, "How would this be an improvement?" or "How would this help?" Interactive presentations keep prospects more involved and interested.
[b]7. Communicate all of your unique strengths.
Today, it's not enough to show that you can meet your customer's needs. Your customer wants to know two things: can you do what we need done and how can you do it better than the other options we are considering? So, you must have some reasons why you are their best choice. And to ensure that my strengths are understood, I always prepare a flip chart titled "Why We're Your Best Choice." Here, I put at least three reasons why I am the customer's best choice. Many times I'll list seven or eight reasons. The more reasons you have, and the more compelling those reasons are -- the better your chances of winning the sale.
8. Use visuals in your presentations because a picture is worth a thousand words.
Support your important ideas with a picture, show images on an overhead, flip chart, or laptop computer. Keep your visuals simple. One idea per image. Make it interesting, relevant and readable.
9. If your customer is not in a position to make a decision at the end of your presentation, schedule another appointment.
Come up with a reason to get back in there.
10. Last, but not least, have fun and be yourself.
If you want to persuade other people, you must connect with them on a personal level first. Think of John Madden, the football commentator. Madden is successful because he makes emotional contact by just being who he is. To put more impact in your sales presentations, connect with your prospects by just being YOU.
In sports, when two teams are evenly matched, the winner will be the team that executes its plays the best -- the team that makes the fewest mistakes. To deliver a winning sales presentation, you must do the same. When you implement these 10 tips in your sales presentations you'll win more sales!
By Kevin Davis
The sales presentation is your chance to show and tell, but it's not all show and tell. You also need to think strategically about the customer's buying process and their needs, your competitors' offerings and why your solution is best. Here are 10 keys to planning a delivering a winning sales presentation.
1. Find out in advance how much time you'll have.
Have you ever had a key decision-maker leave in the middle of your presentation because he or she was out of time? You aren't holding the attention of a prospect who is looking at the clock! At the beginning of the call, ask how much time the prospect has set aside. Then adjust your presentation to take more no more than 60 percent of the allotted time. Why only 60 percent? Because your prospect's decisions to act typically occur at the end of a meeting, so you want to allow enough time to resolve any remaining issues and reach an agreement.
2. Another question I ask at the beginning of every sales presentation is, "Since the last time we met, has anything changed?"
If your competitor gave them a presentation yesterday you may have a few new hurdles to overcome. And the sooner you know what those hurdles are, the more time you have to plan a response.
3. The next question you want to ask is "Where are you in your decision process?"
If they tell me they have scheduled presentations with three suppliers, and I'm the first presenter, I know the chances of them agreeing to a decision at the end of my presentation are virtually nil. Why? You play the customer. Suppose you schedule appointments with three suppliers -- would you make a decision at the end of the first presentation? No, because it would take more time, energy and stress to cancel the appointments than it would to just go ahead with them.
Also, you wouldn't cancel them because comparison is necessary to recognize value. Recently one of my clients showed me his new sales brochure -- he was obviously very pleased with it. My immediate reaction was that it looked okay but it did not strike me one way or the other. Then I asked him to show me what he was using before -- and then I KNEW how much better this brochure was then the last! It was the comparison that allowed me to recognize the improvement. Your customers need comparison too, to recognize your value. So if it happens that you're the first presenter, don't go for the close -- because you would be asking for something you can't get -- and your customer will think you are pushy. Instead, come up with a reason to come back and see them after their other presentations -- when they will likely be in a position to make a decision.
For this reason I prefer to present last because it's closest to the customer's point of decision. And that's….
4. The fourth key to effective presentations -- try to be the last presenter.
If I'm the final supplier to present, and I've shown why I'm their best choice, it's only reasonable to ask for a commitment to buy. In one of the largest sales opportunities I've ever worked on -- I was the third of three presenters to a committee of seven decision makers, the most senior of whom was the executive vice president, a Mr. Burns. About 10 minutes before the conclusion of my presentation the phone rang -- Mr. Burns' cab had arrived -- he had a plane to catch. As he stood up I said, "Mr. Burns, before you leave, may I ask you one final question? He said, "Sure." I asked him, "Now that you've evaluated all the options, is there any reason why my solution is not your best option?"
He said, "Yep!" And out it came -- his final concern about my solution… It was a concern that I was ready for -- I had anticipated that it would be a concern -- but I never got the chance to respond to it because his comment triggered a firestorm of conversation around the conference table. Mr. Burns missed his cab -- but several other decision- makers drove him to the airport so they could continue their discussion. A few weeks later I learned that, in the car, a lower-level decision-maker had resolved his concern -- and I won the sale! This example also points out that today, as much as 90 percent of the sale takes place when you're not there. So you've got to make sure that the prospect(s) championing your cause have the tools to sell other decision-makers for you.
5. A good sales presentation starts with a quick review of the customers' goals and objectives.
Then list on a flip chart each of the customer's buying criteria. This list of criteria is your outline for an effective sales presentation. Show how your solution meets and exceeds each decision factor.
6. Throughout your presentation, get reaction from your prospects.
After demonstrating a capability you could ask, "How would this be an improvement?" or "How would this help?" Interactive presentations keep prospects more involved and interested.
[b]7. Communicate all of your unique strengths.
Today, it's not enough to show that you can meet your customer's needs. Your customer wants to know two things: can you do what we need done and how can you do it better than the other options we are considering? So, you must have some reasons why you are their best choice. And to ensure that my strengths are understood, I always prepare a flip chart titled "Why We're Your Best Choice." Here, I put at least three reasons why I am the customer's best choice. Many times I'll list seven or eight reasons. The more reasons you have, and the more compelling those reasons are -- the better your chances of winning the sale.
8. Use visuals in your presentations because a picture is worth a thousand words.
Support your important ideas with a picture, show images on an overhead, flip chart, or laptop computer. Keep your visuals simple. One idea per image. Make it interesting, relevant and readable.
9. If your customer is not in a position to make a decision at the end of your presentation, schedule another appointment.
Come up with a reason to get back in there.
10. Last, but not least, have fun and be yourself.
If you want to persuade other people, you must connect with them on a personal level first. Think of John Madden, the football commentator. Madden is successful because he makes emotional contact by just being who he is. To put more impact in your sales presentations, connect with your prospects by just being YOU.
In sports, when two teams are evenly matched, the winner will be the team that executes its plays the best -- the team that makes the fewest mistakes. To deliver a winning sales presentation, you must do the same. When you implement these 10 tips in your sales presentations you'll win more sales!
An Attitude of Gratitude!
Success Tips…
An Attitude of Gratitude!
“Develop an attitude of gratitude, and give thanks for everything that happens to you, knowing that every step forward is a step toward achieving something bigger and better than your current situation.”
Brian Tracy
“Make it a habit to tell people thank you. To express your appreciation, sincerely and without the expectation of anything in return. Truly appreciate those around you, and you’ll soon find many others around you. Truly appreciate life, and you’ll find that you have more of it.”
Ralph Marston
“The six most important words: I admit I made a mistake. The five most important words: You did a good job. The four most important words: What is YOUR opinion? The three most important words: If you please. The two most important words: Thank You. The one most important word: We. The least important word: I.”
Author Unknown
"Whatever the mind of man can conceive and believe it can achieve."
Napoleon Hill
An Attitude of Gratitude!
“Develop an attitude of gratitude, and give thanks for everything that happens to you, knowing that every step forward is a step toward achieving something bigger and better than your current situation.”
Brian Tracy
“Make it a habit to tell people thank you. To express your appreciation, sincerely and without the expectation of anything in return. Truly appreciate those around you, and you’ll soon find many others around you. Truly appreciate life, and you’ll find that you have more of it.”
Ralph Marston
“The six most important words: I admit I made a mistake. The five most important words: You did a good job. The four most important words: What is YOUR opinion? The three most important words: If you please. The two most important words: Thank You. The one most important word: We. The least important word: I.”
Author Unknown
"Whatever the mind of man can conceive and believe it can achieve."
Napoleon Hill
The 5th “P” of Marketing
The 5th “P” of Marketing
If you have ever read any books on marketing you are no doubt familiar with the 4 –“P’s” of Marketing – Product, Price, Place and Promotion. When combined correctly, these 4 elements can have a tremendous impact on your bottom line, but NONE of them are anywhere near as effective as the never mentioned 5th “P”. Every company struggles with it, and most would confess it is what holds them back from achieving success in their marketing. What is this elusive 5th “P”?
Productivity
It’s all well and good to have a sound plan or system on paper, but it is another to put those plans into action and then to maintain those activities on a consistent basis.
Because so many business owners remain the key rainmaker for their organization and still carry out a ton of the work, non-time-sensitive activities, like marketing tend to fall to the wayside.
Let me ask you this. If you were meeting with a new prospective customer to work on a sizable proposal, would you miss the meeting because the printer needs fixing or you have a ton of emails in your inbox? Of course not!
It’s time to consider marketing your biggest client. It does, after all, bring in more money than any other one activity, yet we constantly put it aside for less important issues. Want to make a big difference in your business? Then start keeping your appointments with your marketing. Here’s how you can harness the 5th “P”
1. Make Appointments With Your Marketing – In your calendar, set aside consistent meetings with Mr. Marketing. Try 1 hour a day at least 3 days a week for a start. Now don’t break these appointments.
2. Minimize Distractions – Turn Notifications off on your Email, put your phone on Do Not Disturb, close the door to your office and remain productive for one hour. After all if you were in a meeting with a client, you wouldn’t be answering emails, phone calls or questions from staff or family members!
3. Make a Priority List – I like to create a list in Excel and then next to each item I rank it first by priority (1 is high and 3 is low), and then by the amount of time it takes (.1hrs, 3 hours or 40 hours). Now multiply these two columns and sort your task from those with the lowest to the highest. For big tasks, you might want to break them down to smaller tasks so they get started and don’t remain too far down your list, especially if they are a high priority.
4. Create a Weekly Task List – of everything you want to accomplish that week so that when you sit down you know what it is you’re working on.
5. Too much on your plate? Then ask yourself, can you outsource this to someone else, and is it really that important right now. Remove those items that others can do or that can be delayed with little detriment, to a later date.
6. Be Held Accountable – who do you have to hold you accountable on your marketing? Face it – we all work best to hard deadlines. Choose an accountability partner, or of course you can always enroll in one of our courses!
If you have ever read any books on marketing you are no doubt familiar with the 4 –“P’s” of Marketing – Product, Price, Place and Promotion. When combined correctly, these 4 elements can have a tremendous impact on your bottom line, but NONE of them are anywhere near as effective as the never mentioned 5th “P”. Every company struggles with it, and most would confess it is what holds them back from achieving success in their marketing. What is this elusive 5th “P”?
Productivity
It’s all well and good to have a sound plan or system on paper, but it is another to put those plans into action and then to maintain those activities on a consistent basis.
Because so many business owners remain the key rainmaker for their organization and still carry out a ton of the work, non-time-sensitive activities, like marketing tend to fall to the wayside.
Let me ask you this. If you were meeting with a new prospective customer to work on a sizable proposal, would you miss the meeting because the printer needs fixing or you have a ton of emails in your inbox? Of course not!
It’s time to consider marketing your biggest client. It does, after all, bring in more money than any other one activity, yet we constantly put it aside for less important issues. Want to make a big difference in your business? Then start keeping your appointments with your marketing. Here’s how you can harness the 5th “P”
1. Make Appointments With Your Marketing – In your calendar, set aside consistent meetings with Mr. Marketing. Try 1 hour a day at least 3 days a week for a start. Now don’t break these appointments.
2. Minimize Distractions – Turn Notifications off on your Email, put your phone on Do Not Disturb, close the door to your office and remain productive for one hour. After all if you were in a meeting with a client, you wouldn’t be answering emails, phone calls or questions from staff or family members!
3. Make a Priority List – I like to create a list in Excel and then next to each item I rank it first by priority (1 is high and 3 is low), and then by the amount of time it takes (.1hrs, 3 hours or 40 hours). Now multiply these two columns and sort your task from those with the lowest to the highest. For big tasks, you might want to break them down to smaller tasks so they get started and don’t remain too far down your list, especially if they are a high priority.
4. Create a Weekly Task List – of everything you want to accomplish that week so that when you sit down you know what it is you’re working on.
5. Too much on your plate? Then ask yourself, can you outsource this to someone else, and is it really that important right now. Remove those items that others can do or that can be delayed with little detriment, to a later date.
6. Be Held Accountable – who do you have to hold you accountable on your marketing? Face it – we all work best to hard deadlines. Choose an accountability partner, or of course you can always enroll in one of our courses!
7 Disciplines for High Performance
7 Disciplines for High Performance
By Brian Tracy
There are seven disciplines you must develop if you want to achieve all that is possible for you. You can learn these disciplines through practice and repetition until they become automatic.
Goal Setting
Every morning, take three to five minutes to write out your top goals in the present tense. Get a spiral notebook for this purpose. By writing out your ten goals at the beginning of each day, you will program them deep into your subconscious mind.
This daily goal writing will activate your mental powers. It will stimulate your mind and make you more alert. Throughout the day, you will see opportunities and possibilities to move more rapidly toward your goals.
Planning and Organizing
Take a few minutes, preferably the night before, to plan out every activity of the coming day. Always work from a list. Always think on paper. This is one of the most powerful and important disciplines of all for high performance.
Priority Setting
The essence of all time management, personal management, and life management is contained in your ability to set the proper priorities on the use of your time. This is essential for high performance.
"A Goal Without a Plan is Only a Dream…"
If you dream of achieving great things in life, planning for making them a reality on paper is vital to your success.
Concentration on your Highest-Value Activities
Your ability to work single-mindedly on your most important task will contribute as much to your success as any other discipline you can develop.
Exercise and Proper Nutrition
Your health is more important than anything else. By disciplining yourself to exercise regularly and to eat carefully, you will promote the highest possible levels of health and fitness throughout your life.
Learning and Growth
Your mind is like a muscle. If you don't use it, you lose it. Continuous learning is the minimum requirement for success in any field.
Time for Important People in your Life
Relationships are everything. Be sure that in climbing the ladder of success, you do not find it leaning against the wrong building. Build time for your relationships into every day, no matter how busy you get.
Action Exercise
These seven disciplines will ensure that you perform at the highest level and get the greatest satisfaction and results from everything you do. Study these seven disciplines and then make a plan for how you can incorporate each of them into your daily life.
By Brian Tracy
There are seven disciplines you must develop if you want to achieve all that is possible for you. You can learn these disciplines through practice and repetition until they become automatic.
Goal Setting
Every morning, take three to five minutes to write out your top goals in the present tense. Get a spiral notebook for this purpose. By writing out your ten goals at the beginning of each day, you will program them deep into your subconscious mind.
This daily goal writing will activate your mental powers. It will stimulate your mind and make you more alert. Throughout the day, you will see opportunities and possibilities to move more rapidly toward your goals.
Planning and Organizing
Take a few minutes, preferably the night before, to plan out every activity of the coming day. Always work from a list. Always think on paper. This is one of the most powerful and important disciplines of all for high performance.
Priority Setting
The essence of all time management, personal management, and life management is contained in your ability to set the proper priorities on the use of your time. This is essential for high performance.
"A Goal Without a Plan is Only a Dream…"
If you dream of achieving great things in life, planning for making them a reality on paper is vital to your success.
Concentration on your Highest-Value Activities
Your ability to work single-mindedly on your most important task will contribute as much to your success as any other discipline you can develop.
Exercise and Proper Nutrition
Your health is more important than anything else. By disciplining yourself to exercise regularly and to eat carefully, you will promote the highest possible levels of health and fitness throughout your life.
Learning and Growth
Your mind is like a muscle. If you don't use it, you lose it. Continuous learning is the minimum requirement for success in any field.
Time for Important People in your Life
Relationships are everything. Be sure that in climbing the ladder of success, you do not find it leaning against the wrong building. Build time for your relationships into every day, no matter how busy you get.
Action Exercise
These seven disciplines will ensure that you perform at the highest level and get the greatest satisfaction and results from everything you do. Study these seven disciplines and then make a plan for how you can incorporate each of them into your daily life.
Sunday, November 22, 2009
What Winners Do
What Winners Do
Author: Charlie Cook
July 14th, 2009
Even the smartest people I know make mistakes, really big ones. In fact they make more than most. But they are still very successful in business — and in life.
What is it that winners do that separates them from people who are always struggling?
One of the smartest people that I know is a doctor who retired just last month. He and his wife, both very experienced sailors, had made plans to spend several weeks cruising the coast of Maine. In preparation, the doctor did a lot of work this spring on their 36-foot sailboat, including taking off and refurbishing the propeller and then putting it back on.
When they launched the boat and started to back it off the trailer, though, the doctor discovered he’d made a major mistake. When he shifted the motor into reverse, the engine pushed the boat forward and when he shifted it into forward, the boat went backwards.
He quickly arranged to have the sailboat hauled to the local boat yard and made a point of being there when the repair was made. He wanted the mechanic to show him exactly what he’d done wrong when he reinstalled the propeller.
He wanted to learn how to avoid making the same mistake the next time around, get the boat moving forward when he shifted it into forward gear, and get the cruise underway.
And that’s what winners do.
They don’t hide or ignore mistakes or missteps. They acknowledge them, even celebrate what they learned from the situation, and move on.
Anyone can use this simple, no-cost marketing tip to continually get smarter and make more money.
Over the last few decades I’ve seen hundreds of people double or triple their profits within months, and I’ve seen a handful never get where they want to go.
You’ve seen the same thing. Two smart people from the same school end up in two very different places. One as the CEO pulling in a huge salary with generous stock options, the other struggling to make ends meet.
What’s the single most important difference between winners and losers? It’s not just that they make more mistakes.
Winners are quicker to learn and adjust their course to reach their goals! The difference is…
The Speed of Course Correction.
Imagine you are in a canoe race where the objective is to paddle across a lake to the finish line on the far side. You and your fellow competitors all have the same strength, paddling experience and start at the same time.
You’re headed for the finish line and paddling hard when a breeze picks up and begins to push all the canoes sideways. Can you predict who will win the race?
The winners will be the team that notices the change in the conditions and adjusts their course the quickest. They’ll win by being the fastest to make the adjustments that will give the shortest possible route to their destination.
Everyone wants a straight path to success, but obstacles get in the way; competitors, recessions, marketing that doesn’t get a response, the shifting interests of your clients; the list is endless if you see it that way.
The business people who end up on top are quick to acknowledge that things are off course. They continually make the changes necessary to reach their goals.
What’s the fastest way for you to stay in the winners’ lane?
1. Learn to Love Mistakes
When I had my first website in the mid ‘90s it cost me $35,000 and it was more or less a flop. It barely made any money.
I could have thrown up my hands and decided that the Internet was a total waste of time. Instead I chose to get the most I could out of my $35,000 blooper.
I took it as a challenge to discover which mistakes I’d made and what to do differently the next time around. I sold my second website a year later for just under a million dollars.
I made a big mistake, learned all I could from it, and turned that knowledge into a big success. You can do the same.
2. Acknowledge Mistakes Right Away
I talked to a business owner, a specialty clothing retailer, who told me he’d spent $7,000 on Yellow Page ads. When I asked him how many customers the ads had generated, he said none. The following month he signed up with the Yellow Pages again. What’s wrong with this picture?
If you’re not getting the results you want from your marketing, admit that your current strategy needs to be adjusted, if not totally replaced. Let go of the strategies and tactics that aren’t working and make room for new, more effective ones.
My doctor friend who put his propeller on backwards could have just kept the problem a secret and lived with it for the summer, remembering to put the boat in reverse when he wanted to go forward.
Or he could have tried to fix the propeller himself, hoping he could figure it out on his own the second time around. Instead, he admitted his mistake, sought expert advice, learned from his mistake and set off for a great vacation.
3. Be Ready to Change Course
Over and over I hear the same things from small business owners struggling with their marketing. They tell me:
“I’m sure that idea won’t work for me.”
“I know that already.”
“I can’t find anyone to help me.”
“I just want someone to hand me a blueprint.”
These are excuses to keep doing the same thing, even if it isn’t working.
Winners recognize mistakes and grab at new marketing ideas. They put them to the test, track the results and continually fine-tune the ways they market and manage their businesses.
I have many clients who’ve done just that, and more than one who doubled their income last year in the midst of a lousy economy. They jumped on the ideas I gave them and put them into practice.
You can be a winner, too. Your business goals are within reach. To achieve them, be willing to make mistakes; admit them; learn from them and take corrective action, quickly.
“If you don’t make mistakes, if you don’t have failures you’ll never learn…too often I find people, they make a mistake, they don’t take the lessons from that and they make it again and again. So spend the time to figure out what you can learn from it so you don’t ever repeat it.” Indra Nooyi, Pepsico, CEO
Word of Mouth Marketing Tips
Where’s Your Competitive Edge? | Word of Mouth Marketing Tips
When people talk about your business, what are they talking about? If you can quickly name the one thing that they’re saying (’we have the best burgers in town;’ ‘our prices can’t ever be beat;’ ‘our employees are the most helpful in town’) then you have a competitive advantage: you have one thing that sets you apart from your competitors. And that’s great. You can stop reading now.
But chances are, what people are saying about your business isgenerally based on an immediate event: people say things like “the store had a sale on paper towels,” “I like that new cashier,” “I can get a manicure really quickly there.” Now that is all good word of mouth marketing, and important to have, but it isn’t going to help you build your small business’s brand.
Your brand is your name, and your small business logo, and a few key words and phrases that people think about your small business when they hear your brand name. Your competitive advantage should be built into your brand. One store’s competitive advantage could be providing the same benefits as a competitor but at a lower cost. Or, a store can deliver benefits that exceed those of a competitor. So better prices, easier parking or access, more knowledgeable staff, later operating hours, higher quality products and services, faster response…any of those things can be your competitive advantage.
And here’s the important thing…your opinion on what your competitive advantage is may not be the same as your customers’ opinions. And you need to find that out. Ask customers for a word or phrase that describes your small business. If you’re not hearing the same words or phrases, or if those words and phrases don’t match what you think your competitive advantage is, then you need to address that.
First, make sure your competitive advantage is clearly understood by all your staff. Make sure they deliver on that competitive advantage every single day. Then be sure that your customers recognize that as your competitive advantage.
Then comes the important part: ask your customers to tell others about your competitive advantage. Work your advantage into your promotions and your traditional advertising for your small business.
The best thing about having a strong competitive advantage is that it leads to brand loyalty. More and more these days, customers are becoming more loyal to stores than they are to individual products and services. Loyal customers spend more money, are less price sensitive, and are more forgiving if something goes wrong when they’re interacting with your store. And importantly, loyal customers are much more likely to give positive word of mouth for your small business.
Not every customer is going to be a loyal customer. And that’s OK. But it’s certainly a good goal to have, isn’t it?
When people talk about your business, what are they talking about? If you can quickly name the one thing that they’re saying (’we have the best burgers in town;’ ‘our prices can’t ever be beat;’ ‘our employees are the most helpful in town’) then you have a competitive advantage: you have one thing that sets you apart from your competitors. And that’s great. You can stop reading now.
But chances are, what people are saying about your business isgenerally based on an immediate event: people say things like “the store had a sale on paper towels,” “I like that new cashier,” “I can get a manicure really quickly there.” Now that is all good word of mouth marketing, and important to have, but it isn’t going to help you build your small business’s brand.
Your brand is your name, and your small business logo, and a few key words and phrases that people think about your small business when they hear your brand name. Your competitive advantage should be built into your brand. One store’s competitive advantage could be providing the same benefits as a competitor but at a lower cost. Or, a store can deliver benefits that exceed those of a competitor. So better prices, easier parking or access, more knowledgeable staff, later operating hours, higher quality products and services, faster response…any of those things can be your competitive advantage.
And here’s the important thing…your opinion on what your competitive advantage is may not be the same as your customers’ opinions. And you need to find that out. Ask customers for a word or phrase that describes your small business. If you’re not hearing the same words or phrases, or if those words and phrases don’t match what you think your competitive advantage is, then you need to address that.
First, make sure your competitive advantage is clearly understood by all your staff. Make sure they deliver on that competitive advantage every single day. Then be sure that your customers recognize that as your competitive advantage.
Then comes the important part: ask your customers to tell others about your competitive advantage. Work your advantage into your promotions and your traditional advertising for your small business.
The best thing about having a strong competitive advantage is that it leads to brand loyalty. More and more these days, customers are becoming more loyal to stores than they are to individual products and services. Loyal customers spend more money, are less price sensitive, and are more forgiving if something goes wrong when they’re interacting with your store. And importantly, loyal customers are much more likely to give positive word of mouth for your small business.
Not every customer is going to be a loyal customer. And that’s OK. But it’s certainly a good goal to have, isn’t it?
How To Engage Your Prospects
How To Engage Your Prospects
Author: Kim Sheehan
November 21st, 2009
You may have heard the word ‘engagement’ tossed around a lot lately. A small business…well, any business, actually….needs to ‘engage’ with customers. What exactly does that mean? And what does that mean for developing word of mouth for your small business.
Engagement is in some ways an extension of the idea of positioning: the perception that consumers have about your brand relative to the competition. Positioning, however, assumed that perceptions were developed primarily through traditional advertising.
Engagement is the idea that a brand connects with consumers in many different ways: through traditional advertising, online advertising, through retail experiences, and through word of mouth. Brands and store owners control some of these experiences, but other experiences (in particular word of mouth) cannot be completely controlled.
However, to have positive word of mouth between customers, there are two important steps to engagement. First, your business must do a good job of engaging consumers in all the ways that you can control.
Consistency is key: talking about the value you provide and then putting your money where your mouth is in the store is a great way to engage. If you can engage well with customers, they’ll provide the positive word of mouth for you.
Second, you must connect with customers where they are…not where you are. You have to find out where people are talking about you, what they’re saying, and if they have any problems with your business. If they do, you need to connect with them and solve their problems.
More and more these days, the Internet becomes the place where these customer conversations are happening. You need to monitor the social networking websites to find out specifically what the conversations are.
How do you do this? A great, easy way is through a site called www.socialmention.com. Social Mention, in its own words, is like Google Alerts except for Social Media networking websites like Twitter, Facebook, and more. While you can use the Social Mention home page to search for your business, we recommend that you set up an alert, just like a Google Alert.
On the Social Mention home page, click on the “Create An Alert” link. In the next box, enter the name of your business. 3. In the ‘type’ menu, select “All” so that the search engine searches all available social media. Finally, enter your email address…no account needed….so you’ll find out what people are saying about you.
Engagement, as any married person can tell you, is a two way street. Get engaged today!
Saturday, November 21, 2009
Consulting Versus Selling
Consulting Vs Selling, How we can make sales by not doing selling but consulting. As we know, everybody loves to buy but hates to be sold. We need to engage in non-manipulative selling, and ask deeper questions that will make the sale.
View Yourself As A Consultant
One particular self-image possessed by high-achieving salespeople is that they see themselves as consultants rather than as salespersons. They see themselves as problem solvers with their products or services rather than as vendors looking for someone who will trade them money for what they have to offer.
Approach Them As Clients
They do not approach their customers with hat in hand, hoping for a sale. They approach their "clients" with the attitude that they are consultants calling on the prospect to help him or her solve a problem or achieve a goal.
Ask Questions And Listen Carefully
Seeing themselves as consultants, they ask questions carefully and listen intently. They focus all of their energies on understanding the customer's situation so that they can make intelligent recommendations based on what the customer really wants and needs.
Become An Expert In Your Field
As consultants, they recognize that they must be experts, authorities in their field. They know their products and services from one end to the other. They invest many hours familiarizing themselves with every single detail of what they sell, and of what their competitors sell as well. They know the strengths and weaknesses, the advantages and shortcomings, the features and benefits of what they are offering. They have excellent product knowledge, which their customers can sense and which gives both themselves and their customers greater confidence throughout the sales conversation.
Differentiate Yourself from Your Competitors
Top salespeople, positioning themselves as consultants, see themselves as resources for their clients. They see themselves and carry themselves as advisors, mentors and friends. They become emotionally involved in their transactions and they are generally concerned that their product or service be the ideal solution to the real needs of the prospects they are dealing with. They differentiate themselves from their competitors by being more concerned with helping their prospects than with selling their products or services. Their customers often feel that they care more about them than they care about making a sale. And it's true.
Action Exercises
Here are two things you can do immediately to put these ideas into action.
First, see yourself as a problem-solver rather than as a salesperson. Take sufficient time to understand the prospect's real need before you start selling.
Second, think of ways to tailor your product or service to your customer's needs so that he sees what you sell as the ideal solution for him.
View Yourself As A Consultant
One particular self-image possessed by high-achieving salespeople is that they see themselves as consultants rather than as salespersons. They see themselves as problem solvers with their products or services rather than as vendors looking for someone who will trade them money for what they have to offer.
Approach Them As Clients
They do not approach their customers with hat in hand, hoping for a sale. They approach their "clients" with the attitude that they are consultants calling on the prospect to help him or her solve a problem or achieve a goal.
Ask Questions And Listen Carefully
Seeing themselves as consultants, they ask questions carefully and listen intently. They focus all of their energies on understanding the customer's situation so that they can make intelligent recommendations based on what the customer really wants and needs.
Become An Expert In Your Field
As consultants, they recognize that they must be experts, authorities in their field. They know their products and services from one end to the other. They invest many hours familiarizing themselves with every single detail of what they sell, and of what their competitors sell as well. They know the strengths and weaknesses, the advantages and shortcomings, the features and benefits of what they are offering. They have excellent product knowledge, which their customers can sense and which gives both themselves and their customers greater confidence throughout the sales conversation.
Differentiate Yourself from Your Competitors
Top salespeople, positioning themselves as consultants, see themselves as resources for their clients. They see themselves and carry themselves as advisors, mentors and friends. They become emotionally involved in their transactions and they are generally concerned that their product or service be the ideal solution to the real needs of the prospects they are dealing with. They differentiate themselves from their competitors by being more concerned with helping their prospects than with selling their products or services. Their customers often feel that they care more about them than they care about making a sale. And it's true.
Action Exercises
Here are two things you can do immediately to put these ideas into action.
First, see yourself as a problem-solver rather than as a salesperson. Take sufficient time to understand the prospect's real need before you start selling.
Second, think of ways to tailor your product or service to your customer's needs so that he sees what you sell as the ideal solution for him.
Sales Presentation Process:
Sales Presentation Process:
By Carleadbest
3 STEPS
SEE
1. Smiles - to break the ice, put prospect at ease
2. Eye to Eye contact - exudes confidence and sincerity
3. Enthusiasm - creates interest in the prospect
5 STEPS
ISPCR
1. Introduction - introduce yourself / company representing / asking the prospect name etc.
2. Short Story - about your programme / campaign / asking for right person to speak to / Qualifying the prospect
3. Presentation:
- Full Presentation
- Handling Objections / Turning around Negative
a. Agree - never argue with prospect, empathise with them
b. Jones Theory - Tell them everyone else says the same
thing in order to make the negative seem
small.
c. Reason to give - Provide 1 reason that people still sign up
or buy our product ( relate to negative )
d. Close - Assume they will sign up by requesting the
required information.
4. Close
5. Rehash - Go over whatever information must be left with client
- Ask for referral
8 STEPS
1. Be Prepare - for a day ahead / update file management
2. Always On Time
3. Positive Thinking / Under Control
4. Know Why You Are Here And What Next
5. Always Work Smart
6. Be Confident to achive target / situation / presentation etc
7. Be On your Territory / know your area operations well
8. Be Discipline / Dont Break the Rules
3 Golden Rules Of Customer Service
1. Never Lie
2. If Don't Know, Ask
1. Leader
2. Manager
3. Customer Service Officer
3. Always leave your prospect / client positive
- Give a good impression of the client and the programme
- Leaves the possibility of rehashing the client / prospect at the
later date.
- Allow you to request for referrals and continue working the
territory.
Friday, November 20, 2009
Tips for Winning Sales Presentations
10 Tips for Winning Sales Presentations
By Kevin Davis
The sales presentation is your chance to show and tell, but it's not all show and tell. You also need to think strategically about the customer's buying process and their needs, your competitors' offerings and why your solution is best. Here are 10 keys to planning a delivering a winning sales presentation.
1. Find out in advance how much time you'll have.
Have you ever had a key decision-maker leave in the middle of your presentation because he or she was out of time? You aren't holding the attention of a prospect who is looking at the clock! At the beginning of the call, ask how much time the prospect has set aside. Then adjust your presentation to take more no more than 60 percent of the allotted time. Why only 60 percent? Because your prospect's decisions to act typically occur at the end of a meeting, so you want to allow enough time to resolve any remaining issues and reach an agreement.
2. Another question I ask at the beginning of every sales presentation is, "Since the last time we met, has anything changed?"
If your competitor gave them a presentation yesterday you may have a few new hurdles to overcome. And the sooner you know what those hurdles are, the more time you have to plan a response.
3. The next question you want to ask is "Where are you in your decision process?"
If they tell me they have scheduled presentations with three suppliers, and I'm the first presenter, I know the chances of them agreeing to a decision at the end of my presentation are virtually nil. Why? You play the customer. Suppose you schedule appointments with three suppliers -- would you make a decision at the end of the first presentation? No, because it would take more time, energy and stress to cancel the appointments than it would to just go ahead with them.
Also, you wouldn't cancel them because comparison is necessary to recognize value. Recently one of my clients showed me his new sales brochure -- he was obviously very pleased with it. My immediate reaction was that it looked okay but it did not strike me one way or the other. Then I asked him to show me what he was using before -- and then I KNEW how much better this brochure was then the last! It was the comparison that allowed me to recognize the improvement. Your customers need comparison too, to recognize your value. So if it happens that you're the first presenter, don't go for the close -- because you would be asking for something you can't get -- and your customer will think you are pushy. Instead, come up with a reason to come back and see them after their other presentations -- when they will likely be in a position to make a decision.
For this reason I prefer to present last because it's closest to the customer's point of decision. And that's….
4. The fourth key to effective presentations -- try to be the last presenter.
If I'm the final supplier to present, and I've shown why I'm their best choice, it's only reasonable to ask for a commitment to buy. In one of the largest sales opportunities I've ever worked on -- I was the third of three presenters to a committee of seven decision makers, the most senior of whom was the executive vice president, a Mr. Burns. About 10 minutes before the conclusion of my presentation the phone rang -- Mr. Burns' cab had arrived -- he had a plane to catch. As he stood up I said, "Mr. Burns, before you leave, may I ask you one final question? He said, "Sure." I asked him, "Now that you've evaluated all the options, is there any reason why my solution is not your best option?"
He said, "Yep!" And out it came -- his final concern about my solution… It was a concern that I was ready for -- I had anticipated that it would be a concern -- but I never got the chance to respond to it because his comment triggered a firestorm of conversation around the conference table. Mr. Burns missed his cab -- but several other decision- makers drove him to the airport so they could continue their discussion. A few weeks later I learned that, in the car, a lower-level decision-maker had resolved his concern -- and I won the sale! This example also points out that today, as much as 90 percent of the sale takes place when you're not there. So you've got to make sure that the prospect(s) championing your cause have the tools to sell other decision-makers for you.
5. A good sales presentation starts with a quick review of the customers' goals and objectives.
Then list on a flip chart each of the customer's buying criteria. This list of criteria is your outline for an effective sales presentation. Show how your solution meets and exceeds each decision factor.
6. Throughout your presentation, get reaction from your prospects.
After demonstrating a capability you could ask, "How would this be an improvement?" or "How would this help?" Interactive presentations keep prospects more involved and interested.
[b]7. Communicate all of your unique strengths.
Today, it's not enough to show that you can meet your customer's needs. Your customer wants to know two things: can you do what we need done and how can you do it better than the other options we are considering? So, you must have some reasons why you are their best choice. And to ensure that my strengths are understood, I always prepare a flip chart titled "Why We're Your Best Choice." Here, I put at least three reasons why I am the customer's best choice. Many times I'll list seven or eight reasons. The more reasons you have, and the more compelling those reasons are -- the better your chances of winning the sale.
8. Use visuals in your presentations because a picture is worth a thousand words.
Support your important ideas with a picture, show images on an overhead, flip chart, or laptop computer. Keep your visuals simple. One idea per image. Make it interesting, relevant and readable.
9. If your customer is not in a position to make a decision at the end of your presentation, schedule another appointment.
Come up with a reason to get back in there.
10. Last, but not least, have fun and be yourself.
If you want to persuade other people, you must connect with them on a personal level first. Think of John Madden, the football commentator. Madden is successful because he makes emotional contact by just being who he is. To put more impact in your sales presentations, connect with your prospects by just being YOU.
In sports, when two teams are evenly matched, the winner will be the team that executes its plays the best -- the team that makes the fewest mistakes. To deliver a winning sales presentation, you must do the same. When you implement these 10 tips in your sales presentations you'll win more sales!
By Kevin Davis
The sales presentation is your chance to show and tell, but it's not all show and tell. You also need to think strategically about the customer's buying process and their needs, your competitors' offerings and why your solution is best. Here are 10 keys to planning a delivering a winning sales presentation.
1. Find out in advance how much time you'll have.
Have you ever had a key decision-maker leave in the middle of your presentation because he or she was out of time? You aren't holding the attention of a prospect who is looking at the clock! At the beginning of the call, ask how much time the prospect has set aside. Then adjust your presentation to take more no more than 60 percent of the allotted time. Why only 60 percent? Because your prospect's decisions to act typically occur at the end of a meeting, so you want to allow enough time to resolve any remaining issues and reach an agreement.
2. Another question I ask at the beginning of every sales presentation is, "Since the last time we met, has anything changed?"
If your competitor gave them a presentation yesterday you may have a few new hurdles to overcome. And the sooner you know what those hurdles are, the more time you have to plan a response.
3. The next question you want to ask is "Where are you in your decision process?"
If they tell me they have scheduled presentations with three suppliers, and I'm the first presenter, I know the chances of them agreeing to a decision at the end of my presentation are virtually nil. Why? You play the customer. Suppose you schedule appointments with three suppliers -- would you make a decision at the end of the first presentation? No, because it would take more time, energy and stress to cancel the appointments than it would to just go ahead with them.
Also, you wouldn't cancel them because comparison is necessary to recognize value. Recently one of my clients showed me his new sales brochure -- he was obviously very pleased with it. My immediate reaction was that it looked okay but it did not strike me one way or the other. Then I asked him to show me what he was using before -- and then I KNEW how much better this brochure was then the last! It was the comparison that allowed me to recognize the improvement. Your customers need comparison too, to recognize your value. So if it happens that you're the first presenter, don't go for the close -- because you would be asking for something you can't get -- and your customer will think you are pushy. Instead, come up with a reason to come back and see them after their other presentations -- when they will likely be in a position to make a decision.
For this reason I prefer to present last because it's closest to the customer's point of decision. And that's….
4. The fourth key to effective presentations -- try to be the last presenter.
If I'm the final supplier to present, and I've shown why I'm their best choice, it's only reasonable to ask for a commitment to buy. In one of the largest sales opportunities I've ever worked on -- I was the third of three presenters to a committee of seven decision makers, the most senior of whom was the executive vice president, a Mr. Burns. About 10 minutes before the conclusion of my presentation the phone rang -- Mr. Burns' cab had arrived -- he had a plane to catch. As he stood up I said, "Mr. Burns, before you leave, may I ask you one final question? He said, "Sure." I asked him, "Now that you've evaluated all the options, is there any reason why my solution is not your best option?"
He said, "Yep!" And out it came -- his final concern about my solution… It was a concern that I was ready for -- I had anticipated that it would be a concern -- but I never got the chance to respond to it because his comment triggered a firestorm of conversation around the conference table. Mr. Burns missed his cab -- but several other decision- makers drove him to the airport so they could continue their discussion. A few weeks later I learned that, in the car, a lower-level decision-maker had resolved his concern -- and I won the sale! This example also points out that today, as much as 90 percent of the sale takes place when you're not there. So you've got to make sure that the prospect(s) championing your cause have the tools to sell other decision-makers for you.
5. A good sales presentation starts with a quick review of the customers' goals and objectives.
Then list on a flip chart each of the customer's buying criteria. This list of criteria is your outline for an effective sales presentation. Show how your solution meets and exceeds each decision factor.
6. Throughout your presentation, get reaction from your prospects.
After demonstrating a capability you could ask, "How would this be an improvement?" or "How would this help?" Interactive presentations keep prospects more involved and interested.
[b]7. Communicate all of your unique strengths.
Today, it's not enough to show that you can meet your customer's needs. Your customer wants to know two things: can you do what we need done and how can you do it better than the other options we are considering? So, you must have some reasons why you are their best choice. And to ensure that my strengths are understood, I always prepare a flip chart titled "Why We're Your Best Choice." Here, I put at least three reasons why I am the customer's best choice. Many times I'll list seven or eight reasons. The more reasons you have, and the more compelling those reasons are -- the better your chances of winning the sale.
8. Use visuals in your presentations because a picture is worth a thousand words.
Support your important ideas with a picture, show images on an overhead, flip chart, or laptop computer. Keep your visuals simple. One idea per image. Make it interesting, relevant and readable.
9. If your customer is not in a position to make a decision at the end of your presentation, schedule another appointment.
Come up with a reason to get back in there.
10. Last, but not least, have fun and be yourself.
If you want to persuade other people, you must connect with them on a personal level first. Think of John Madden, the football commentator. Madden is successful because he makes emotional contact by just being who he is. To put more impact in your sales presentations, connect with your prospects by just being YOU.
In sports, when two teams are evenly matched, the winner will be the team that executes its plays the best -- the team that makes the fewest mistakes. To deliver a winning sales presentation, you must do the same. When you implement these 10 tips in your sales presentations you'll win more sales!
Handling Objections
Handling Objections
Customer Attitudes
Handling customer attitudes is a stage in sales (selling) process.
Normally most people limit themselves and focus only on handling customer objections. In fact, handling customer objections is one part of handling the customer attitudes. Therefore, we must tackle all the aspects of customer attitudes. Customer attitudes are displayed by the customer throughout the sales (selling) process. So, sales persons needs to assess and handle the customer attitudes.
Four Customer Attitudes
• Acceptance: Customer agrees with your benefits and has no negative feeling towards your product.
• Scepticism: Customer is interested in a particular benefit but doubts whether your product can readily provide that benefit.
• Indifference: Customer shows a lack of interest in your product because of no perceived need for it's benefit.
• Objection: Customer displays opposition to your product.
A Stalling Customer
• There are times when a customer may attempt to hide a negative attitude by stalling. He may say: why don't you call me after four months or let me refer your offer to my colleagues and we will let you know.
• Stalling may be a cover up for scepticism, indifference or objection. When a customer stalls, the sales person should continue probing the customer to uncover the hidden attitude.
Handling Scepticism
• When the customer doubts whether your product can really provide the benefit, to assure him that your claims are legitimate, you will offer the proof.
• Some of the sources of proof are: brochures, company contracts, data from research studies, demonstrations, magazine articles, professional journals, testimonial letters, third party references etc.
• When you make a proof statement, you do three things: restate the benefit, prove the benefit and personalize the benefit.
• When the first proof state is not accepted by the customer, you will have to probe further and provide a second proof statement.
Handling Indifference
• In case of a satisfied customer, (closed) probing will help you to spotlight areas of possible dissatisfaction with the product he is currently using so that you can then support those uncovered needs.
• For a customer who does not recognize any need for your product, (closed) probing allows you to direct the conversation to potential areas of need that can be supported with benefits of your product.
Handling Objections
There are three types of objections:
Real objections: The customer raises this objection since he believes that your product has some deficiency resulting from poor performance he has experienced or observed, misconceptions about your product or due to competitive influence. If you can successfully answer the real objection, you can usually make a sale.
Phony Objections: These are vague statements that usually mean the customer wants a socially acceptable way of telling the sales person to go away. These objections are presented by the customer to a pushy sales person who has not demonstrated any contribution to solve customer's problems. An amiable customer reluctant to tell any real complaint about the product can also raise phony objections. Uncertain customers who want to stall the buying decision also may raise phony objections.
Banter: It is a teasing or griping sort of conversation which people who know each other well sometimes trade back and forth. Friendliness is communicated non verbally despite a hostile verbal comment. banter offers an acceptable way of expressing unpleasant or negative feelings without direct confrontation. In fact, it serves to reduce tension.
Handling Real objections
There are four techniques to handle real objections.
Feel-felt-found: Say to customer, "I can see why you feel that way (cushion this sentence with human relations statement). Several of my other customers felt that might a problem also. And they found after using/evaluating our product carefully that ........".
Convert to a question: If you can ask a proper question, the real nature of the objection will become more clear. Suppose the customer says, "It costs too much". Perhaps answering a question as to "why does it cost so much" will satisfy the customer. So, convert his statement that product costs too much to "I understand your concern about the cost. What you want to know is as to why does it cost so much?" and then answer the question.
Ricochet: Objective of ricochet is to restate the customer's "no" as a "yes" and return it to him. Customer may say that he likes your service but the spare parts are very expensive. You may give valid reasons for the high cost of spare parts and to confirm that that's how you are in position to give better service as already acknowledged by the customer.
How would you if you had to: This technique can be useful when customer has decided that personally he wants to buy your product but feels constrained by his environment; for example: budget is not available. Here, you can help him to see the reason to buy your product which has potential to save money for the company and therefore, he can send a proposal to his management emphasizing that the product will save for the company and sanction of extra budget is in favor of the company.
Handling Phony Objections
In case of phony objection (or ambiguous objection), make a human relations statement and move on in your presentation.
If the phony objection is repeated by the customer, there is possibility of it being a real objection. Probing will help you understand the real objection and you may have to satisfy the customer on it.
Customer Attitudes
Handling customer attitudes is a stage in sales (selling) process.
Normally most people limit themselves and focus only on handling customer objections. In fact, handling customer objections is one part of handling the customer attitudes. Therefore, we must tackle all the aspects of customer attitudes. Customer attitudes are displayed by the customer throughout the sales (selling) process. So, sales persons needs to assess and handle the customer attitudes.
Four Customer Attitudes
• Acceptance: Customer agrees with your benefits and has no negative feeling towards your product.
• Scepticism: Customer is interested in a particular benefit but doubts whether your product can readily provide that benefit.
• Indifference: Customer shows a lack of interest in your product because of no perceived need for it's benefit.
• Objection: Customer displays opposition to your product.
A Stalling Customer
• There are times when a customer may attempt to hide a negative attitude by stalling. He may say: why don't you call me after four months or let me refer your offer to my colleagues and we will let you know.
• Stalling may be a cover up for scepticism, indifference or objection. When a customer stalls, the sales person should continue probing the customer to uncover the hidden attitude.
Handling Scepticism
• When the customer doubts whether your product can really provide the benefit, to assure him that your claims are legitimate, you will offer the proof.
• Some of the sources of proof are: brochures, company contracts, data from research studies, demonstrations, magazine articles, professional journals, testimonial letters, third party references etc.
• When you make a proof statement, you do three things: restate the benefit, prove the benefit and personalize the benefit.
• When the first proof state is not accepted by the customer, you will have to probe further and provide a second proof statement.
Handling Indifference
• In case of a satisfied customer, (closed) probing will help you to spotlight areas of possible dissatisfaction with the product he is currently using so that you can then support those uncovered needs.
• For a customer who does not recognize any need for your product, (closed) probing allows you to direct the conversation to potential areas of need that can be supported with benefits of your product.
Handling Objections
There are three types of objections:
Real objections: The customer raises this objection since he believes that your product has some deficiency resulting from poor performance he has experienced or observed, misconceptions about your product or due to competitive influence. If you can successfully answer the real objection, you can usually make a sale.
Phony Objections: These are vague statements that usually mean the customer wants a socially acceptable way of telling the sales person to go away. These objections are presented by the customer to a pushy sales person who has not demonstrated any contribution to solve customer's problems. An amiable customer reluctant to tell any real complaint about the product can also raise phony objections. Uncertain customers who want to stall the buying decision also may raise phony objections.
Banter: It is a teasing or griping sort of conversation which people who know each other well sometimes trade back and forth. Friendliness is communicated non verbally despite a hostile verbal comment. banter offers an acceptable way of expressing unpleasant or negative feelings without direct confrontation. In fact, it serves to reduce tension.
Handling Real objections
There are four techniques to handle real objections.
Feel-felt-found: Say to customer, "I can see why you feel that way (cushion this sentence with human relations statement). Several of my other customers felt that might a problem also. And they found after using/evaluating our product carefully that ........".
Convert to a question: If you can ask a proper question, the real nature of the objection will become more clear. Suppose the customer says, "It costs too much". Perhaps answering a question as to "why does it cost so much" will satisfy the customer. So, convert his statement that product costs too much to "I understand your concern about the cost. What you want to know is as to why does it cost so much?" and then answer the question.
Ricochet: Objective of ricochet is to restate the customer's "no" as a "yes" and return it to him. Customer may say that he likes your service but the spare parts are very expensive. You may give valid reasons for the high cost of spare parts and to confirm that that's how you are in position to give better service as already acknowledged by the customer.
How would you if you had to: This technique can be useful when customer has decided that personally he wants to buy your product but feels constrained by his environment; for example: budget is not available. Here, you can help him to see the reason to buy your product which has potential to save money for the company and therefore, he can send a proposal to his management emphasizing that the product will save for the company and sanction of extra budget is in favor of the company.
Handling Phony Objections
In case of phony objection (or ambiguous objection), make a human relations statement and move on in your presentation.
If the phony objection is repeated by the customer, there is possibility of it being a real objection. Probing will help you understand the real objection and you may have to satisfy the customer on it.
Wednesday, November 18, 2009
Is Anybody Following Your Thought Leadership? Five Best-Practices
by Paul McKeon
Published on November 10, 2009
What Exactly Is Thought Leadership?
A Google search for the term "thought leadership paper" returns almost 1.7 million results. Is it possible there are so many thought leaders around? Or is there some confusion over what thought leadership really is?
The key to being a thought leader is acting like a market leader. Market leadership doesn't necessarily mean market-share leadership; rather, it means being in the vanguard of product trends, service delivery, pricing, customer experience, R&D, regulatory, and other issues within your market or industry. In other words, seeing where the market is going—and getting out in front of it.
A big part of making market leadership pay off is an ability to convey and promote thought leadership. Thought leadership is the outward expression of market leadership. It conveys your views on where your marketspace is heading (or should be heading); by communicating in that way, you show confidence in your organization and in those views.
Do It the Right Way: Five Best-Practices
1. Clearly define your own brand of thought leadership
Before you embark, be sure you know where you are going. That means having a clear understanding of what thought leadership means in general, in your marketspace, and for your company. Such clarity will ensure that other key stakeholders in your organization follow you, and it will help them understand what it takes.
Experts agree that thought leadership is one of the most misunderstood, overused, and abused terms in business.
"Thought leadership is one of those terms people throw around with no idea what it means," said Beverly McDonald, former chief communication officer at Infor, a $2 billion software company.
"People think it means repeating what has already been said in the marketplace and if they do it with more frequency they'll rise above the noise. Or they think it's an alternative way to get their name in the press when they can't get attention with any real news. The bottom line for me has always been that you can't be a great thought leader unless you have great thoughts."
2. Be guided by generosity
Thought leadership is a commitment to a grander goal than lead generation; it's an effort the raison d'être of which is to benefit your industry, not just your own company.
On her blog, elise.com, Elise Bauer says that a spirit of generosity is essential to thought leadership, and it's a good summary of the shift in mindset that should occur when a company makes the transition from business leader to thought leader.
"Thought leadership requires generosity of one's time, intelligence and knowledge," Bauer counsels.
Consider the phrase "a rising tide lifts all boats" as a mantra for your thought-leadership efforts, and understand that with a little patience your company will benefit from your work. Companies will look to you for insight and innovation. The media will quote you, and analysts will respect you. And rest assured that your brand will have earned a new credibility and glow that, although difficult to quantify on a spreadsheet, will build your company's success over the long term.
Brian Carroll extends the definition on his B2B lead-generation blog: "Thought leaders genuinely influence others by creating, advancing and sharing ideas. Their objective is to help others. In business, thought leaders revolutionize the way others (both inside and outside their companies) do business. That's thought leadership."
3. Tell, don't sell
Notorious examples of sales pitches thinly disguised as thought leadership abound in the B2C world. Consider the millions that the tobacco industry spent on studies to disprove a link between smoking and lung cancer. In the B2B world, a poorly executed thought-leadership program won't generate that level of negative exposure, but it won't win you any fans, either.
In our post-credit meltdown marketplace, the consumer—whether B2B or B2C—is more skeptical than ever and can spot an insincere bit of "trust me" marketing a mile away. That is all the more reason for companies to exercise due diligence when starting a thought-leadership program. Be sure it is more "chalk talk" than "pep talk."
For example, if whitepapers are part of the program, be sure you understand that they should offer objective analysis of an industry issue or problem, not promotion or technical documentation of your products. A whitepaper should accomplish the following:
• Justify why the problem must be solved
• Objectively explore alternative ways to solve the problem
• Logically lead the reader to the conclusion that your organization has the knowledge, expertise, and tools required to solve the problem
4. Take yourself out of the story
Ken Anderberg, publisher and editorial director of Health Management Technology magazine, looks for people who take a bold stand on the issues when he selects contributors to the publication's regular "Thought Leaders" column.
That means telling, not selling. It also means taking yourself out of the story. "The contributors should be presenting an overview that is not self-serving," he said. "We're looking for information that is useful for your readers, not a self-serving discussion of a company's technology."
5. Take risks; be visionary
One year after Theodore Roosevelt lost a bid for the White House in 1912, he took a journey down an unexplored tributary of the Amazon River known as the River of Doubt, where he encountered a life-threatening infection and was stalked by cannibals. But he completed the journey, and, eventually, the River of Doubt was renamed Rio Roosevelt by the Brazilian government.
Modern business doesn't offer such colorful adventures, but the successful thought leaders among us take risks, venture into uncharted territory, and emerge victorious as Roosevelt did. Taking that first step can seem daunting, however.
For example, many companies measure a marketing effort's success solely by how many leads it generates. That shortsighted view doesn't take into account the longer-term return on investment of a thought-leadership program.
They are also apprehensive about sharing information that goes beyond what is contained in corporate collateral or on their website.
What they don't stop to consider is that all organizations have a "secret sauce" or "family jewels" that set them apart, and keeping them locked away in the far corners of the organization is not the behavior of a true thought leader, especially not in today's connected world.
Paul McKeon is president of The Content Factor (www.contentfactor.com), a professional content-generation and information-architecture firm based in Atlanta. Reach him at pmckeon@contentfactor.com.
by Paul McKeon
Published on November 10, 2009
What Exactly Is Thought Leadership?
A Google search for the term "thought leadership paper" returns almost 1.7 million results. Is it possible there are so many thought leaders around? Or is there some confusion over what thought leadership really is?
The key to being a thought leader is acting like a market leader. Market leadership doesn't necessarily mean market-share leadership; rather, it means being in the vanguard of product trends, service delivery, pricing, customer experience, R&D, regulatory, and other issues within your market or industry. In other words, seeing where the market is going—and getting out in front of it.
A big part of making market leadership pay off is an ability to convey and promote thought leadership. Thought leadership is the outward expression of market leadership. It conveys your views on where your marketspace is heading (or should be heading); by communicating in that way, you show confidence in your organization and in those views.
Do It the Right Way: Five Best-Practices
1. Clearly define your own brand of thought leadership
Before you embark, be sure you know where you are going. That means having a clear understanding of what thought leadership means in general, in your marketspace, and for your company. Such clarity will ensure that other key stakeholders in your organization follow you, and it will help them understand what it takes.
Experts agree that thought leadership is one of the most misunderstood, overused, and abused terms in business.
"Thought leadership is one of those terms people throw around with no idea what it means," said Beverly McDonald, former chief communication officer at Infor, a $2 billion software company.
"People think it means repeating what has already been said in the marketplace and if they do it with more frequency they'll rise above the noise. Or they think it's an alternative way to get their name in the press when they can't get attention with any real news. The bottom line for me has always been that you can't be a great thought leader unless you have great thoughts."
2. Be guided by generosity
Thought leadership is a commitment to a grander goal than lead generation; it's an effort the raison d'être of which is to benefit your industry, not just your own company.
On her blog, elise.com, Elise Bauer says that a spirit of generosity is essential to thought leadership, and it's a good summary of the shift in mindset that should occur when a company makes the transition from business leader to thought leader.
"Thought leadership requires generosity of one's time, intelligence and knowledge," Bauer counsels.
Consider the phrase "a rising tide lifts all boats" as a mantra for your thought-leadership efforts, and understand that with a little patience your company will benefit from your work. Companies will look to you for insight and innovation. The media will quote you, and analysts will respect you. And rest assured that your brand will have earned a new credibility and glow that, although difficult to quantify on a spreadsheet, will build your company's success over the long term.
Brian Carroll extends the definition on his B2B lead-generation blog: "Thought leaders genuinely influence others by creating, advancing and sharing ideas. Their objective is to help others. In business, thought leaders revolutionize the way others (both inside and outside their companies) do business. That's thought leadership."
3. Tell, don't sell
Notorious examples of sales pitches thinly disguised as thought leadership abound in the B2C world. Consider the millions that the tobacco industry spent on studies to disprove a link between smoking and lung cancer. In the B2B world, a poorly executed thought-leadership program won't generate that level of negative exposure, but it won't win you any fans, either.
In our post-credit meltdown marketplace, the consumer—whether B2B or B2C—is more skeptical than ever and can spot an insincere bit of "trust me" marketing a mile away. That is all the more reason for companies to exercise due diligence when starting a thought-leadership program. Be sure it is more "chalk talk" than "pep talk."
For example, if whitepapers are part of the program, be sure you understand that they should offer objective analysis of an industry issue or problem, not promotion or technical documentation of your products. A whitepaper should accomplish the following:
• Justify why the problem must be solved
• Objectively explore alternative ways to solve the problem
• Logically lead the reader to the conclusion that your organization has the knowledge, expertise, and tools required to solve the problem
4. Take yourself out of the story
Ken Anderberg, publisher and editorial director of Health Management Technology magazine, looks for people who take a bold stand on the issues when he selects contributors to the publication's regular "Thought Leaders" column.
That means telling, not selling. It also means taking yourself out of the story. "The contributors should be presenting an overview that is not self-serving," he said. "We're looking for information that is useful for your readers, not a self-serving discussion of a company's technology."
5. Take risks; be visionary
One year after Theodore Roosevelt lost a bid for the White House in 1912, he took a journey down an unexplored tributary of the Amazon River known as the River of Doubt, where he encountered a life-threatening infection and was stalked by cannibals. But he completed the journey, and, eventually, the River of Doubt was renamed Rio Roosevelt by the Brazilian government.
Modern business doesn't offer such colorful adventures, but the successful thought leaders among us take risks, venture into uncharted territory, and emerge victorious as Roosevelt did. Taking that first step can seem daunting, however.
For example, many companies measure a marketing effort's success solely by how many leads it generates. That shortsighted view doesn't take into account the longer-term return on investment of a thought-leadership program.
They are also apprehensive about sharing information that goes beyond what is contained in corporate collateral or on their website.
What they don't stop to consider is that all organizations have a "secret sauce" or "family jewels" that set them apart, and keeping them locked away in the far corners of the organization is not the behavior of a true thought leader, especially not in today's connected world.
Paul McKeon is president of The Content Factor (www.contentfactor.com), a professional content-generation and information-architecture firm based in Atlanta. Reach him at pmckeon@contentfactor.com.
Monday, November 16, 2009
How to Overcome The 4 Most Common Objections
How to Overcome The 4 Most Common Objections
You want to increase the flow of sales revenue, but you are stymied by prospects' seemingly endless objections. Prospects say they're not interested. They tell you your price is too high, or this isn't the right time. You've heard all the objections.
What can you do to simplify selling sales and get rid of these once and for all?
Engineer Your Marketing
When I was seven one of my favorite ways to spend a hot summer day with my friends was playing a backyard game we called "waterworks". We'd use a trowel to construct channels in the dirt, put the hose at one end and watch the water flow.
If we wanted the water to go straight, we'd remove rocks and debris to clear a path. We became sophisticated engineers, guiding water around corners and across short aqueducts. We felt like masters of the universe, directing the water where we wanted it to go. (You can bet my mother loved seeing us come into the house covered with mud at the end of the day.)
Plan your marketing to the same way and lead prospects to your products and services the way my friends and I engineered our waterworks; by making clear paths and removing obstacles. Channel your prospects' attention and interests and you'll eliminate their objections.
Below are the four most common objections and ways to eliminate them.
Lack of Interest
Prospects need to understand what you do before they can become interested in what you have to offer. It is that simple. If you're marketing yourself as a lawyer, coach, accountant or fitness center, you're not telling people why they should be interested. To capture their interest, explain the problems you solve from their perspective.
Lack of Leads
You want people to email you, call you or go to your web site to buy your products and services. But first you have to motivate them to contact you so you can market to them. Once you have their attention, use your conversation, your emails and your web site to ask them what they want and need.
Lack of Credibility
You want prospects to see you as the expert; the person and the firm that has the products and services they can rely on. One of the biggest challenges to attracting new clients is gaining their trust and being seen as the essential expert. Use your articles, ezine, and web site to demonstrate your expertise. Use testimonials from clients to tell prospects about the results you and your products have achieved.
Pricing Objections
Whether it is a $25 subscription or a $50,000 consulting fee, prospects object to price when they don't understand the value of the purchase. Establish a set of questions you can use to help prospects define what they want and what you are providing. When price is put in context, it becomes much less of an obstacle.
Still not converting as many prospects to clients as you'd like? Use questions to find out more about what they want, and what their concerns are. Then address each of these objections up front and remove them as potential sales killers.
Think of your target market as a reservoir of water waiting to be tapped. If you eliminate the barriers between them and you, you could send a steady stream of new clients and customers your way. Now, don't just imagine it, do it.
Start eliminating your prospects' objections and create a clear path for them to become clients and customers. Help your prospects get what they want and you'll be selling more products and services to more clients.
To your success,
You want to increase the flow of sales revenue, but you are stymied by prospects' seemingly endless objections. Prospects say they're not interested. They tell you your price is too high, or this isn't the right time. You've heard all the objections.
What can you do to simplify selling sales and get rid of these once and for all?
Engineer Your Marketing
When I was seven one of my favorite ways to spend a hot summer day with my friends was playing a backyard game we called "waterworks". We'd use a trowel to construct channels in the dirt, put the hose at one end and watch the water flow.
If we wanted the water to go straight, we'd remove rocks and debris to clear a path. We became sophisticated engineers, guiding water around corners and across short aqueducts. We felt like masters of the universe, directing the water where we wanted it to go. (You can bet my mother loved seeing us come into the house covered with mud at the end of the day.)
Plan your marketing to the same way and lead prospects to your products and services the way my friends and I engineered our waterworks; by making clear paths and removing obstacles. Channel your prospects' attention and interests and you'll eliminate their objections.
Below are the four most common objections and ways to eliminate them.
Lack of Interest
Prospects need to understand what you do before they can become interested in what you have to offer. It is that simple. If you're marketing yourself as a lawyer, coach, accountant or fitness center, you're not telling people why they should be interested. To capture their interest, explain the problems you solve from their perspective.
Lack of Leads
You want people to email you, call you or go to your web site to buy your products and services. But first you have to motivate them to contact you so you can market to them. Once you have their attention, use your conversation, your emails and your web site to ask them what they want and need.
Lack of Credibility
You want prospects to see you as the expert; the person and the firm that has the products and services they can rely on. One of the biggest challenges to attracting new clients is gaining their trust and being seen as the essential expert. Use your articles, ezine, and web site to demonstrate your expertise. Use testimonials from clients to tell prospects about the results you and your products have achieved.
Pricing Objections
Whether it is a $25 subscription or a $50,000 consulting fee, prospects object to price when they don't understand the value of the purchase. Establish a set of questions you can use to help prospects define what they want and what you are providing. When price is put in context, it becomes much less of an obstacle.
Still not converting as many prospects to clients as you'd like? Use questions to find out more about what they want, and what their concerns are. Then address each of these objections up front and remove them as potential sales killers.
Think of your target market as a reservoir of water waiting to be tapped. If you eliminate the barriers between them and you, you could send a steady stream of new clients and customers your way. Now, don't just imagine it, do it.
Start eliminating your prospects' objections and create a clear path for them to become clients and customers. Help your prospects get what they want and you'll be selling more products and services to more clients.
To your success,
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