It seems as if everyone thinks the only thing they need to learn is closing skills. The problem with that is the focus is on the wrong thing. Instead of focusing on closing you will get a lot more sales focusing on the client.
A perfect example would be one of my consulting clients I just finished a session with. We were celebrating his progress and he was excited that he had found a new confidence and was closing people who previously had been impossible for him.
Like most clients the first area he wanted to work on was closing. I suggested that we start at the beginning. I assured him that we would get to closing techniques but first we needed to lay the proper foundation.
As I have mentioned in other post most sales people give their presentation in spite of the prospect's needs instead of with their needs in mind. I talked to him about the questions he was asking and what he was doing with the information. He was really only asking what he was taught were rapport building questions. I'll talk about that in another post.
As it turns out he was relying on a tool his company had given him that exposed weaknesses in the prospects business but didn't tie the problem to their needs, wants or desires. I helped him understand that you must know what's important to the prospect before you can even begin to give a presentation.
To help him understand I shared a story I learned about from "Non-Manipulative Selling". I asked him what he would think of a doctor if he went to the doctor's office and without even being seen by the doctor the doctor had the nurse come out and give him a prescription for a heart condition. He'd said he'd think the doctor was a quack and I'm sure you'd agree. Well that's exactly what a sales person is doing every time they jump into their presentation without finding out what's important to the client.
Not everyone is motivated the same way. In fact what motivates one person can actually turn off another. With that in mind you have to ask good open ended questions to find out what motivates your prospect or you could be doing more damage than good.
As I previously mentioned in features vs. benefits once you know your prospects needs, wants and desires you tailor your presentation to them. Along the way you show them how your good or service helps them achieve what's important to them and you will find that the close is the easiest part of the presentation.
Of course all of this is based on your core belief that what you have to offer is genuinely the best solution for your prospect.
Mike McMahon
Helping Business Owners & Professionals Double Their Sales & Revenue
PS. To Double Your Sales & Revenue Click Here and claim your FREE 7 day audio eCourse. “Behind the Curtain…Strategies to Double Your Sales and Revenue”
Thursday, July 24, 2008
Wednesday, July 23, 2008
Features vs. Benefits
In selling you will usually hear you need to pitch features and benefits. Sometimes people will tell you that people don't buy features they only buy benefits. If it's true that people only buy benefits what do I do with all the features? How can I know what to talk to my prospect about?
The key is understanding the difference between a feature and a benefit. The fact is, what may be a feature to one prospect can be a benefit to another. It's up to the sales person through the qualification process to learn what the prospect's needs are which will tell them whether or not it's a feature or a benefit.
Think of features and benefits like this. If the prospect sees it as a benefit then it's a benefit. Otherwise it's a feature. For example if you go to a car dealership (relax, this is just a blog you're not really at the car dealership) and you're looking at a red car. Is the color red a feature or a benefit? If you love the color red then for you it's a benefit. On the other hand if it isn't your favorite color and you believe that red cars get more tickets it's a feature that you're not to interested in. See how the color red can be a benefit to some people and not to others?
By the way the color red is always a feature but it isn't always a benefit. The inexperienced sales person memorizes all the features and benefits that they think their goods or service has and then proceeds to tell the prospect all about them. The problem is that as we've just discovered a feature that benefits one may not benefit all. So the presentation that tries to lump everyone into one group will actually create sales resistance with the prospects that don't feel the same way about the benefits you have presented.
That brings us back to qualifying. When you take the time to properly qualify your prospect so that you know what they are looking for you can highlight the features that are in fact benefits for your prospect. By doing so you will build tremendous value and truly help them see how they will benefit from taking advantage of your offer. Having done that you will have laid the foundation for the close which you will find goes much smoother with a client that sees the benefits of your offer presented to them from their perspective.
The key is understanding the difference between a feature and a benefit. The fact is, what may be a feature to one prospect can be a benefit to another. It's up to the sales person through the qualification process to learn what the prospect's needs are which will tell them whether or not it's a feature or a benefit.
Think of features and benefits like this. If the prospect sees it as a benefit then it's a benefit. Otherwise it's a feature. For example if you go to a car dealership (relax, this is just a blog you're not really at the car dealership) and you're looking at a red car. Is the color red a feature or a benefit? If you love the color red then for you it's a benefit. On the other hand if it isn't your favorite color and you believe that red cars get more tickets it's a feature that you're not to interested in. See how the color red can be a benefit to some people and not to others?
By the way the color red is always a feature but it isn't always a benefit. The inexperienced sales person memorizes all the features and benefits that they think their goods or service has and then proceeds to tell the prospect all about them. The problem is that as we've just discovered a feature that benefits one may not benefit all. So the presentation that tries to lump everyone into one group will actually create sales resistance with the prospects that don't feel the same way about the benefits you have presented.
That brings us back to qualifying. When you take the time to properly qualify your prospect so that you know what they are looking for you can highlight the features that are in fact benefits for your prospect. By doing so you will build tremendous value and truly help them see how they will benefit from taking advantage of your offer. Having done that you will have laid the foundation for the close which you will find goes much smoother with a client that sees the benefits of your offer presented to them from their perspective.
Tuesday, July 22, 2008
Ready, Fire, Aim
I'm sure you've heard the phrase "Ready, Fire, Aim". The question you need to ask yourself is; "am I running my business and sales process that way"?
In other words, are you following a well thought out plan or are you reacting to everything that comes up. Do you have a marketing and sales plan that you are following? Have you defined what you believe is your ideal client? When you approach a sale do take the time to properly qualify the prospect to determine their needs and whether or not you have the right solution for them? Or do you just wing it?
If you are out there winging it then you are practicing "Ready, Fire, Aim". For now I want to concentrate on how this applies to the sales process. When you go through your sales process and you skip the qualifying you're not even aiming. How many more sales do you think you could get if you followed the steps in the right order? When you follow the steps in the right order you will dramatically increase your sales.
Qualifying is one of the most important steps in the sales process. When you take the time to properly qualify your prospect you are finding out what their needs and wants are. You should also be finding out what their buying process or decision making process is. Then you tailor your presentation to their needs and wants. That way your features will be seen as a benefit to them and their resistance to your offer will go down dramatically.
Master closers are experts at qualifying their prospects. They are also experts and ending the sales call the moment the know they have nothing to offer the prospect or they know the prospect won't buy. This creates a huge time savings that can be invested in other prospects. It also helps you stay in control.
Take the time to think through your process and figure out the questions you need to ask to properly qualify your prospect so you can give them a presentation tailored to their needs and you will see your closing percentage go through the roof.
In other words, are you following a well thought out plan or are you reacting to everything that comes up. Do you have a marketing and sales plan that you are following? Have you defined what you believe is your ideal client? When you approach a sale do take the time to properly qualify the prospect to determine their needs and whether or not you have the right solution for them? Or do you just wing it?
If you are out there winging it then you are practicing "Ready, Fire, Aim". For now I want to concentrate on how this applies to the sales process. When you go through your sales process and you skip the qualifying you're not even aiming. How many more sales do you think you could get if you followed the steps in the right order? When you follow the steps in the right order you will dramatically increase your sales.
Qualifying is one of the most important steps in the sales process. When you take the time to properly qualify your prospect you are finding out what their needs and wants are. You should also be finding out what their buying process or decision making process is. Then you tailor your presentation to their needs and wants. That way your features will be seen as a benefit to them and their resistance to your offer will go down dramatically.
Master closers are experts at qualifying their prospects. They are also experts and ending the sales call the moment the know they have nothing to offer the prospect or they know the prospect won't buy. This creates a huge time savings that can be invested in other prospects. It also helps you stay in control.
Take the time to think through your process and figure out the questions you need to ask to properly qualify your prospect so you can give them a presentation tailored to their needs and you will see your closing percentage go through the roof.
Monday, July 21, 2008
It's The Economy Stupid
Do you really think the economy is holding back your business growth? If you listen to the news is sure seems like that's what the media wants you to think. If you buy into the idea that the economy is the reason for fewer sales then guess what? You're going to get fewer sales. That's how excuses work.
It isn't the economy itself that matters. It's the way you react to the economy. If you let the economy get you down you will stop innovating and you won't try as hard to get new clients simply because you will accept the excuse that "times are tough" or "we have to cut back right now" or "how about we can't afford it right now".
In every economy there are companies that are growing and companies that are going out of business. You might try to say that some industries are hit harder than others by the economy and you would be right. But if you take a look inside those industries you will see some companies have record breaking years and others struggling.
Look around in your own market. Is every business suffering? Do you see signs that some are having one of their best years ever? I know when I look around I see some companies and individuals thriving. What's the difference?
The difference is how the situation is approached. Think about it like this. Right now most people in business are reacting to the economy instead of responding to it. Because they are reacting they aren't planning any expansion. Many are spending less on advertising because they have bought into the paranoia that people aren't buying.
Take the time right now to think through all that you have to offer and what your clients need. What can you do differently to help your clients? Is there a way to offer more value for the same amount of money? Can you provide additional services along with what you normally offer? What goods and services are your clients already buying that you don't offer? What have you been putting off doing that you can sell to your existing clients? What referral program do you have in place and how are you taking care of your clients to make them feel like champions? What are you doing to measure the effectiveness of your advertising and what program do you have in place to consistently test new approaches?
The list is hardly complete but hopefully it will get you to start thinking. It's not the economy it's what you do about it that matters.
By the way, when was the last time you contacted your clients for something other than a sales call?
It isn't the economy itself that matters. It's the way you react to the economy. If you let the economy get you down you will stop innovating and you won't try as hard to get new clients simply because you will accept the excuse that "times are tough" or "we have to cut back right now" or "how about we can't afford it right now".
In every economy there are companies that are growing and companies that are going out of business. You might try to say that some industries are hit harder than others by the economy and you would be right. But if you take a look inside those industries you will see some companies have record breaking years and others struggling.
Look around in your own market. Is every business suffering? Do you see signs that some are having one of their best years ever? I know when I look around I see some companies and individuals thriving. What's the difference?
The difference is how the situation is approached. Think about it like this. Right now most people in business are reacting to the economy instead of responding to it. Because they are reacting they aren't planning any expansion. Many are spending less on advertising because they have bought into the paranoia that people aren't buying.
Take the time right now to think through all that you have to offer and what your clients need. What can you do differently to help your clients? Is there a way to offer more value for the same amount of money? Can you provide additional services along with what you normally offer? What goods and services are your clients already buying that you don't offer? What have you been putting off doing that you can sell to your existing clients? What referral program do you have in place and how are you taking care of your clients to make them feel like champions? What are you doing to measure the effectiveness of your advertising and what program do you have in place to consistently test new approaches?
The list is hardly complete but hopefully it will get you to start thinking. It's not the economy it's what you do about it that matters.
By the way, when was the last time you contacted your clients for something other than a sales call?
Subscribe to:
Posts (Atom)
Posts
