Veteran salespeople know that while every customer is unique, the obstacles to a sale are often the same. Once you understand these obstacles and how to overcome them, you will have all of the tools you need to make the sale.
Obstacle 1: Identifying the Decision Maker(s)
It's common for salespeople to focus solely on their initial contact at an organization. Whether that person is a mid-level manager or an HR executive, he or she is probably not the only person involved in the proposal process. The challenge is figuring out who the other decision makers are and how you can meet with them. In order to get this information, ask your current contact the following questions:
- What is your time frame for making a final decision?
- What criteria will you be evaluating to make the best decision?
- What measurable outcomes are you looking to achieve?
Obstacle 2: Uncovering the Budget
Nothing derails a deal faster than a mismatch between your proposal and the customer's budget. Unfortunately, prospects are often reluctant to discuss their budgets with salespeople. It is your job to press them further to get a number, or at the very least, a range of what their budget is for the project. There are two ways to make this happen.
One is to politely—but firmly—suggest that prospects determine their budget prior to soliciting bids. Stress the importance of an advance figure, and express your interest in receiving it before you reconnect. This approach puts the focus on the prospects. It shows that you care about them and their financial security.
The second option is to frame the interaction as if you're recommending a program that best suits your prospect's needs and expectations, and express how budget parameters can shape the direction for both parties.
Obstacle 3: Working with Indecisive Customers
It is frustrating to be ready to close a sale, only to have a customer say, "I still need to think about it." When this happens, a seasoned salesperson knows that he or she needs to follow up on the customer's statement. Ask your prospect what specifically stood out from the conversation that might be of interest to him or her. The goal of this question is to get clarification on how much the prospect is really interested in what you have shared and whether or not the prospect feels he or she wants to move forward. Is there sincerity in the response?
Once you get an answer to your first question, you can acknowledge that the customer has concerns, and ask him or her to explain. Find out what is holding him or her back from making a decision, and then work to alleviate any concerns and get the sale back on track.
Obstacle 4: Understanding the Customer's Values
Too often, salespeople get stuck on price. If you sell on price, you lose on price. As soon as someone cheaper comes along, a customer won't hesitate to cut you loose. Instead of getting caught up in price wars, you need to steer a customer's attention to other issues. This means asking your customers about value. What characteristics does the organization value in a vendor? Are they most concerned with good customer service, high-quality products, speedy delivery or ease of use? Once you get customers talking about these areas, you can determine what their needs are and how you can position yourself to meet them.
Obstacle 5: Establishing Your Credibility
Many salespeople spend initial meetings talking all about themselves and their products. This is a mistake. Your goal should be for the prospect to do 70 percent of the talking. Why? For two reasons:
- You want to hear about his or her problems, ideas and goals.
- You want to qualify any genuine opportunities with this prospect.
You cannot do either of those things if you are trying to sell during the first meeting. What should you do instead? Start the meeting with a value opening statement—a 30- to 60-second description of who you are as a company and what you do. The value opening statement should detail the benefits of your company to the prospect, the impact you'll have on their organization, and an immediate follow-up question to gauge expectations and interest.
By Paul Cherry
Paul Cherry is president of Performance Based Results and is the leading authority on customer engagement strategies. He has more than 23 years of experience in sales training, leadership development, sales performance coaching and management coaching. He is also the author of "Questions That Sell: The Powerful Process for Discovering What Your Customer Really Wants" and "Questions That Get Results: Innovative Ideas Managers Can Use to Improve Their Team's Performance." For more information, visit www.pbresults.com, call (302) 478-4443 or email cherry@pbresults.com.