After months of trying, you land an appointment with a major account that uses your competitor’s products. Like many reps, you probably feel an overpowering urge to cram as much as possible into this one meeting. You need to tell them about your company’s new directions, latest technologies, state-of-the-art products, competitive advantages, top-notch service and more.
But, slow down. Prospects who receive information overload unconsciously erect barriers to slow or even derail your sales efforts. How? They tell you everything is fine, even if they’re dissatisfied with their current vendor. They rule out conducting business with you if your product lacks a minor capability. Your pricing is never good enough. Or they simply thank you for the update and promise to contact you when the need arises. Sound familiar? It’s the result of trying to establish long-standing vendor relationships in one sales call. Prospects distrust motives when they perceive a lack of concern for their needs, and that’s exactly what happens when you spend most of your time doing all the talking.
Top sellers realize that replacing an incumbent is a slow, deliberate process. They understand it takes time to demonstrate value and develop strong relationships. Knowing this, they put together a one-step-at-a-time account entry strategy that actually advances the sales process much faster than if they tried to do everything in a single call. Here are some suggested steps:
• Do your homework. Learn as much as you can before the meeting. Review your prospect’s annual report and website. Look for gaps between where the customer is and where he or she wants to be. Identify primary initiatives and determine how your product helps achieve the objectives or ties in with critical business drivers. For example, if “earning customer loyalty” is mentioned repeatedly, figure out how you can contribute.
• Think and talk results. Your product is a tool—nothing more. People buy it because of what it does for them, so make sure you know what that is. Discuss the business results customers achieve when using your product. Explain how the prospect can reduce time to market, increase operational efficiency or improve sales.
• Establish a logical next step. Before the meeting, determine the desired outcome. A successful advance might be an information-gathering meeting, an analysis of current workflow or a presentation. Most sales to large accounts require multiple calls, so build this into your planning right from the beginning.
• Plan your questions. Questions are key to your success. They demonstrate interest, concern and knowledge. They also provide valuable insights into customer needs and the decision-making process. Plan at least 10 questions ahead of time.
The Big Meeting
At the start of the big meeting, get down to business. State your purpose. Next, share a short story about how your company helped another client and mention the specific results that were attained.
Talk results, not products! Even if the prospect asks, don’t get caught in this trap. Graciously explain that product discussion is premature until you understand his or her needs better, and get back to asking questions. Before you leave, share a few key benefits and suggest the logical next step.
This is what the top sellers do. They don’t rush the sale and, as a result, they get the order—and more quickly. Follow the leaders.
By Jill Konrath
Jill Konrath, author of “Selling to Big Companies,” is a recognized sales strategist in the highly competitive business-to-business market. A popular speaker at sales meetings, she helps her clients break into corporate accounts, speed up their sales cycle and generate demand for their offerings. Konrath publishes an industry-leading online newsletter and blog. To subscribe—and get a free sales call planning guide (a $19.95 value)—visit www.sellingtobigcompanies.com. For information on sales training, call (651) 429-1922.