We sure don't like it when potential customers don't agree to buy from us. Most people don't like rejection: it's hard not to take it personally.
The first step to coping with this is to simply be aware of reality. In many businesses, as few as 4% or less of those on your prospect list are going to say 'yes'. If you were expecting more, knowing this may be discouraging. However, let it encourage you, in that if people keep saying no to your offer, it may not be entirely your fault. However, knowing some of the reasons why they say no can help you to develop strategies to improve your results.
You need to have a complete list of prospects. The more people you call on, the more people will say yes, even if you don't change the percentages of those who say yes.
Are you targeting the right customers? Have you clearly identified who your "Jack and Diane" are? If you are business to business, have you identified the right person within the company? Determine early in your conversation if the person you are meeting with actually has the authority to make a decision: you may want to ask something like, "Who else in your organization will have an impact on any decisions made today?"
Have you taken the time to understand the prospect's unique situation and did you then communicate the value you bring - how you can help them avoid pain or acquire something that will make their lives better? This, of course, is done by asking open-ended questions at the beginning of the converstaion, getting them to open up, share their concerns. Ask things like, "Where does it hurt?", "What would you like to see happen?" Or was your discussion really more of a disseration about all you rmany years of experience, or how you have this amazing technical know-how or special tools; without any solid connection to the client's individual needs? Did you talk too much? It's more important for you to focus on the prospect's needs first rather than your own.
Did you bring all the right 'sales tools'? Samples, testimonials, photos, price lists, etc. Usually when a prospect says no, it's because they don't have enough information to make a good decision. They are afraid of making a wrong decision, so they say no because it's easier.
Near the end of your meeting, how did you ask? Don't come across as a pushy sales person, but you need to actually ask for the order! Once you have clearly identified their needs and communicated how your product or service solves those needs, ask something like, "Do you like what I've shown you?" "Does this make sense to you, so far?"; then "It looks like we have a good fit between what you need and what I do, so would you like us to begin work on Thursday the 12th or Tuesday the 17th?, "Which colour (size, style, etc.) is preferred?, "How many would you lik...? If you simply ask "Do you want to go ahead?" you will usually get "No". One of my favourite questions that can lead to a 'yes' is "Where do we go from here?" When you ask this question, and wait for the answer, it gives you the opportunity to see if you've missed something and/or identify how they want to go ahead.
In summary, target the right kinds of potential clients, ask the right questions to determine needs, clearly communicate your unique selling proposition, then ask for the order and keep trying!
Thursday, July 29, 2010
Tuesday, July 27, 2010
Your Sales Mind Set
Your 'sales mind set' results from your attitude towards this part of your business. It is defined as representing an individual's degree of like or dislike for something. Even though we recognize that we will not generate income unless we secure customers, to many new entrepreneurs, the 'selling' part of being a business owner is the least desirable task. Hence, we often have a negative mind set. Strangely enough, even though we don't like 'selling', we are usually very comfortable talking about what we do. So, instead of calling it 'sales', why not 're-label' this necessary activity as 'discussions with people to determine who I can help with my services' or something like that. When you give yourself permission for this semmingly small, but significant mind shift, it will go a long way towards achieving satisfying results. As Annie Gottlier was quoted as saying, "It's so hard when I have to, and so easy when I want to". Here are some suggestions on how to accomplish a healthy 'sales mind set' and create revenue, so you can concentrate on doing whatever you do:
Be good at what you do, strive for excellence. When you do this, two great things happen - you gain confidence, and your potential clients will be far more drawn to do business with you. In turn, it will be far easier to talk about your company.
Cultivate a sincere desire to help other people. When you come across as being genuinely interested in helping other people save time, money or hassle or making their lives better, they will want to continue conversations with you about what you do. Conversely, if you appear to be 'trying to sell them something', you are far more likely to push them away.
Know what you want to discuss. Arrange your 'sales tools' and have them well organized. Prepare a basic outline of things that you generally discuss about your product and before each client meeting, think about what you know about their unique needs, and what questions you can ask to find out more. Your subsequent personalized solution will far more often become a positive experience.
Set S.M.A.R.T. revenue goals. As you set realistic, but challenging goals, your self-ideal improves and becomes more definite. Convince yourself that, other than being unethical or annoying, you will do whatever you have to, to reach these goals. Note this quote from Denis Waitley, motivational coach: "Goals provide the energy source that powers our lives. One of the best ways we can get the most from the energy we have is to focus it. That is what goals can do for us: concentrate our energy."
Make contacting potential clients a necessary part of your weekly routine. Set aside specific times for your sales activities. Let nothing interfere with this necessary use of your time.
Associate with positive, encouraging people. You may know someone who is experienced at professional sales. Perhaps you can get together with a colleague who has had some success at helping customers with their product or service.
In summary, allow yourself to cultivate a positive attitude toward helping customers.
Be good at what you do, strive for excellence. When you do this, two great things happen - you gain confidence, and your potential clients will be far more drawn to do business with you. In turn, it will be far easier to talk about your company.
Cultivate a sincere desire to help other people. When you come across as being genuinely interested in helping other people save time, money or hassle or making their lives better, they will want to continue conversations with you about what you do. Conversely, if you appear to be 'trying to sell them something', you are far more likely to push them away.
Know what you want to discuss. Arrange your 'sales tools' and have them well organized. Prepare a basic outline of things that you generally discuss about your product and before each client meeting, think about what you know about their unique needs, and what questions you can ask to find out more. Your subsequent personalized solution will far more often become a positive experience.
Set S.M.A.R.T. revenue goals. As you set realistic, but challenging goals, your self-ideal improves and becomes more definite. Convince yourself that, other than being unethical or annoying, you will do whatever you have to, to reach these goals. Note this quote from Denis Waitley, motivational coach: "Goals provide the energy source that powers our lives. One of the best ways we can get the most from the energy we have is to focus it. That is what goals can do for us: concentrate our energy."
Make contacting potential clients a necessary part of your weekly routine. Set aside specific times for your sales activities. Let nothing interfere with this necessary use of your time.
Associate with positive, encouraging people. You may know someone who is experienced at professional sales. Perhaps you can get together with a colleague who has had some success at helping customers with their product or service.
In summary, allow yourself to cultivate a positive attitude toward helping customers.
Thursday, July 15, 2010
How To Lose The Sale
You want to 'win' new customers, not lose them! So, let's discuss some common habits of small business owners that should be avoided.
1. Spend most of the time talking about you and your company. Most salespeople from various industries begin their presentation by telling all about their company, their background and wonderful qualifications. Most of this is irrelevant to your prospect. You are actually wasting the person's time. It is more important to invest time in learning about their unique situation by using open-ended questions. Then respond with a customized solution as to how you can save them time, money or hassle.
2. Don't listen to the prospect. Don't waste time asking questions if you aren't going to listen to the responses. Cultivate a sincere desire to help the person, rather than 'lying in wait' to do your 'presentation'. The best salespeople take written notes, ask probing questions and clarify their understanding of the client's needs at the conclusion of each meeting. This enables them to create a proposal or deliver a presentation that addresses their customer's concerns, issues and situation. Don't dominate the conversation. Professional salespeople understand the importance of silence and have learned to become comfortable with it. Unfortunately, too many people talk far too much. You can actually talk yourself out of a sale.
3. Make exaggerated claims about your product or service. Under-promise and over-deliver. While this sounds simple, unfortunately the tendency of too many salespeople is to stretch the truth in order to close a sale. Unfortunately, this will usually come back to haunt them at a later date. Long-term relationships are more important to maintain their loyalty.
You may think that this is pretty basic. Why not pay attention to your behaviour during the sales process. Track how much of the time you are talking and how much time you are actually listening. Avoid these costly mistakes. By knowing how to lose the sale, you can easily gain a competitive advantage by employing the opposite techniques.
1. Spend most of the time talking about you and your company. Most salespeople from various industries begin their presentation by telling all about their company, their background and wonderful qualifications. Most of this is irrelevant to your prospect. You are actually wasting the person's time. It is more important to invest time in learning about their unique situation by using open-ended questions. Then respond with a customized solution as to how you can save them time, money or hassle.
2. Don't listen to the prospect. Don't waste time asking questions if you aren't going to listen to the responses. Cultivate a sincere desire to help the person, rather than 'lying in wait' to do your 'presentation'. The best salespeople take written notes, ask probing questions and clarify their understanding of the client's needs at the conclusion of each meeting. This enables them to create a proposal or deliver a presentation that addresses their customer's concerns, issues and situation. Don't dominate the conversation. Professional salespeople understand the importance of silence and have learned to become comfortable with it. Unfortunately, too many people talk far too much. You can actually talk yourself out of a sale.
3. Make exaggerated claims about your product or service. Under-promise and over-deliver. While this sounds simple, unfortunately the tendency of too many salespeople is to stretch the truth in order to close a sale. Unfortunately, this will usually come back to haunt them at a later date. Long-term relationships are more important to maintain their loyalty.
You may think that this is pretty basic. Why not pay attention to your behaviour during the sales process. Track how much of the time you are talking and how much time you are actually listening. Avoid these costly mistakes. By knowing how to lose the sale, you can easily gain a competitive advantage by employing the opposite techniques.
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