Sales Training Sales Java

One of the most common objections at time of presentation is money.  The prospect has to crunch numbers, look it over, run it past someone, take it to, etc.  All of these objections may be true but underneath all of them is the issue of money.  An objection at time of presentation is a clear indication that during the sales process the sales person failed to discuss budget. The reasons are many and are good for other posts. For today, I want to provide you a suggested 'technique' to make sure that you don't get this objection at time of presentation.  The dialog might sound something like this.

"Multimillion dollar problems are not solved cheaply nor are they solved well by the lowest bidder.  Based on what we've discussed so far today about the problems you have to overcome and the outcomes you are trying to achieve, your solution is normally going to cost you ______ dollars, ________ time and ________ investment of resources.  My guess is that you've thought about this and this investment of money, time and resources is either more than you thought or less than you thought.  My job is to provide you the right solution to your problems and help you make the numbers work.  How do we proceed from here?"

Clearly, this will help you get into the discussion around money, time and resources without feeling like you are putting pressure on someone.  And normally, that is the reason sales people fail to ask about money. It is a record collection.  It makes them feel uncomfortable so they just ignore the conversation until time of presentation.  And then it's too late.  You have to work too hard to recover and now make a solution fit the budget.  This often leads to a 'no sale'.

Selling more can happen in 3 seconds. 

In selling or in boating, you can and will have to make decisions and/or impressions in 3 seconds or less. One of our dock mates at Lake Cumberland was bringing his 18' x 80' houseboat into the marina.  It was dark and he misjudged the entry point to the dock just a bit.  When he attempted to use his thrusters (jets that allow you to move the boat sideways), he discovered that they didn't work.  Apparently, the generator that provided the power to the thrusters had malfunctioned and was no longer running.  He had less than 3 seconds to make a decision and make an adjustment or else he was going to make a ‘real' physical impression on a neighboring boat.

The same holds true when you are attempting to convince a new prospect that they should meet with you.  You have about 3 seconds to make a first impression.  You have to get through the noise of all the other sales people that have called on your prospect (even if you were introduced and they were not).  This prospect compares you to all others regardless of how they got your name.  You have to make an impression and you have to do that with a message that is irresistible.  The purpose of your opening statement is to get the listener to listen to the rest of your pitch.  Much like the boat entering the dock, the first move into the dock sets up the successful landing of the boat within the slip to which you are assigned.  This opening statement, sentence, first paragraph of a presentation, or first page of a proposal is to get the participant to decide to keep listening or reading.  You have 3 seconds to make an impression.  Trust me, regardless of what you do, they will have an impression. The impression you leave them with is up to you.

What you decide in the next 3 seconds can and will impact your success.

I recently met with a group that openly admitted that sales were broken.  This is what I heard.

1. Not enough names to start the process
2. Our partners for our selling seminars are not the answer
3. My compelling phone call isn't compelling enough - I'm not getting appointments
4. My success formula is wrong
5. Sales cycle is longer than expected
6. No accountability to effort
7. I don't have a success formula; I just operate day to day hoping that...
8. Calling on some people, but not enough people
9. Lack of effort

If you are at plan, ahead of plan, having an extraordinary year, then congratulations and thanks for reading.  You move to the head of the class.  If you are not in the above group, then where are you broken?  What are you going to do about it?  Who can help you?  How can we help?

Duh.

Well, hold on a second.  Don't translate the title of this final post on 5 Really Important Sales Concepts.  Every sales person has been taught to 'Ask For the Business', 'Always Be Closing', 'Get The Sale'.  The problem with these exhortations is that sales people translate them into 'get a yes'.  Which is different than getting a decision.

Sales people struggle in getting decisions because they are afraid to hear 'no' or their sales leadership has not given them permission to get a 'no'.  If you don't get a 'yes', then typically the next alternative is 'think it over' or any one of its relatives:

• Showing it to someone
• Getting additional proposals
• Going to committee
• Have to look at the numbers
• Haven't met with my current provider yet

All of these are rotten alternatives to a no.  You lose sleep.  You make unreturned phone calls.  You get more delays.  You lose confidence.  You lie to your manager telling them that you 'think' you're in good shape, should close now any day, they liked us, they loved the proposal, it just has to...

Makes you sick just thinking about it, doesn't it?

So, here is the 5th of 5- Get a decision.  Prior to making your presentation, you have to make your pitch as to what happens next.  It sounds something like this:

Let me review to make sure I understand what we need to do next.  First, you want me to come back and provide you with a solution to all of these problems we've discussed today that are costing you lots of heartburn and money.  Next, you want me to provide you with a solution within the guidelines we established relative to your investment of time, money and resources.  And the third item is an assumption. I assume you want me to be able to answer all of your questions at that time.  Does that sound about right?  

Good.  I need for you to be in a position to tell me one of two things, either one is ok. Can I share that with you?

Good.  When I come back and fulfill my part, I need for you to tell me 'yes, this makes all the sense in the world, let's do business' or tell me 'no, we aren't doing business'. I would rather hear yes, but no is ok.  What objections do you have to that process?

This WILL NOT eliminate objections.  It will just move them up in your process and give you the chance to deal with them prior to presenting instead of afterward.  You deal with them now and you either eliminate them as a qualified prospect and don't present or you present to a qualified prospect and get an answer.

I promise you it is better than a 'think it over'

You've prepared.  You had a great start to the relationship by conducting an amazing first client facing appointment.  Now what?  "Now" is where the weak link normally occurs in every sales organizations execution of an effective sales process. 

"Now" is the follow-up after the appointment and the preparation for the next step.

For purposes of today's post, I will assume that the next step is to present a proposal that meets the clients needs, it's within their budget and you'll be in a position to answer all of their questions once you present.  Having stated that, your follow-up should be a memo or documented communication of some sort that should review what has been discussed and what is expected at the next step. The next step in our example is "presenting a solution".  Sandra Usleman of USI - Austin calls this step the "as we agreed to" letter.

The "as we agreed to" letter would look like and read something like the following:

• Opening, greeting
• Review previous meeting discussions
• "Agreed to" points
• The problem or desired outcome
• The budget of time, money or resources needed to solve the problem or arrive at the desire outcome
• The decision process
• Next step - getting a decision to move forward or stop
• Follow-up phone call to confirm the contents of the letter

As simple as this may sound, it can have significant impact on your ability to close more business. The challenge isn't in completing this step; the challenge is making sure that you cover the critical points in an effective selling system as outlined above.

If you've been in sales training with any reputable training company, at some time you will have the motivation the prospect has to take action, the commitment for a budget of time, money and/or resources to make the problem go away or to make their dream realized.  The normal process now is to agree to make a presentation, answer their questions, and at that time overcome any objections they may have.

Dealing with objections is really important, but dealing with them for the first time at presentation is Wrong! 

The time to eliminate the objections and stalls and to be completely prepared to answer questions is right now!  It is absolutely critical that you find out in advance of your presentation what the objections and stalls will be to making a decision. This is not a complicated step but it may be difficult if your own buying cycle or record collection does not support execution of the step.  Here are the steps to executing this step and making sure you improve your probability of closing the business once you present.

1. Review the motivation to take action and the budget items
2. If you haven't already done so, make sure that the prospect has committed to fixing the problem and to finding a provider for the solution.
3. Transition into the "pre-close step"-  It may sound something like, "I hate to assume things so I'd like to get clarity on our next step.  Can I share with you the process that seems to be mutually acceptable to most people I work with?"
4. Commitment dialog-  "I'll be prepared to come back and present a proposal.  The proposal will meet your expectations in every aspect in terms of objectives and features and benefits.  I'll present a solution within the budget parameters discussed.  And I will be prepared to answer all of your questions.  If I can't deliver on these three items, then I won't need to make a presentation.  When I finish my presentation, I'll need for you to be in a position to do one of two things.  Can I share that with you?" (Assume "yes")  "One thing you could do is tell me 'yes,let's do business.'  The second thing you can do is tell me 'no, let's not do business.'  Either one is ok.  I would prefer that you tell me yes, but no is ok."
5. Identify objections - "What objections do you have to this process?"

This process will not eliminate objections; it will move them up in your sales cycle.  This, in turn, allows you to separate the contenders from the pretenders and present only to those that truly qualify to do business with you.

The start of any undertaking is obviously the most important step.

"Every journey starts with the first step" 

"If you want to run a marathon, you have to start with the first step"

"Putting yourself in a position to win means you have to start competing"

When it comes to building the confident and trusting relationship associated with a strong seller / buyer relationship,  the start is especially true. I'm not just talking about the immediate "bonding and rapport" part of selling.  That is important, but the "start" isn't a 5-minute segment of chitchat talking about the sailfish on the wall or the soccer pictures on the credenza.  No, the start is the entire first contact process.  It doesn't matter if it is a phone call or a meeting at a chamber meeting or the initial meeting after the phone call.  It's the start that will often, if not always, determine your finish. In today's post, I focus on the initial face-to-face meeting with a suspect.

I want to describe this segment via the "HAVE-TOs"

• You have to be prepared (pre-call strategy).  Aside from your internet research, you have to prepare for the sales process.  In other words, you have to know what questions you are going to ask that are going to move the sale forward, not just questions about the technical aspects of their current position or status.  You have to anticipate the suspect's answer to those questions and then be prepared with your follow up dialog.  Too many sales people take this step for granted because "they've been in the business for ... years."  You have to be prepared for their questions and how you will respond to them.  And finally, you have to be prepared for curve balls.  Suspects / prospects always throw them, and when you are unprepared, you will always miss them or certainly never get a clean hit.
• You have to identify clearly what your preferred outcome is.  In the book, Getting to Yes, the authors do a great job of explaining how defining your preferred outcome helps guide you through any meeting that you have.  In selling, and specifically for the initial call, most sales people define the objective of the first call as "to get a second call".  I will change that and suggest that your objective be to make this the only call.  Try to disqualify your suspects instead of trying to qualify them.  I guarantee you will end up with more qualified opportunities.
• You have to demonstrate your credibility, not by what you say, but by how you conduct yourself.  Make yourself different (see first blog in this series). You will do this by the questions you ask, by your focus on the prospect and what is important to them, and by your reluctance to get into a sales pitch and do a data dump in their lap.  You demonstrate your knowledge of the industry by the stories, analogies and metaphors you use about their business.  You demonstrate your professionalism by the way you ask professional penetrating questions and by how you don't look, act or sound like every other sales person that has met with this executive.
• You have to have the courage to ask the tough questions and have fierce / honest discussions.  Everyone reading this probably knows the questions that you are supposed to ask and how you are supposed to ask them and when you are supposed to ask them. Yet, every one of you most likely leaves initial calls having failed to ask the tough questions like, "How will you make this decision?  When do I meet the decision maker?  If you don't have a budget, then how will you pay for this?  If you are shopping for low price, then what happens if I show up and I'm not the low price?  Who wins a tie?  When you told your current provider that you were unhappy with the current situation and you were shopping to replace them, what did they say?"  And finally,  "When I show up to make my presentation, I need for you to be in a position to tell me 'yes' or 'no', what objections do you have to that process?"  You all know that you should ask those questions, but time and time again, you fail to.  How come? 
• You have to leave your need for approval at the door when you leave the house in the morning.  You have to re-write your record collection about how people buy in your industry. (Let your sales manager stew over that one.) You have to leave your personal buy cycle at the car lot where you debated for the last three weeks on which make and model to buy and where you negotiated with the manager for 2 hours.
• You have to qualify suspects / prospects to do business with you rather than you attempting to qualify to do business with them. Too many sales people still go to a meeting feeling like they have to qualify to do business with someone.  No, you don't.  You have to make sure that the person you are meeting with qualifies to do business with you.  Not just from a profile perspective or from an underwriting or credit perspective.  Also, qualifying is more than, "Did you do a needs analysis, discuss the features and benefits, get a budget and agree to a decision making process?"  In our world, in our effective selling system, it means the following:
• Do they have a compelling reason to take action quickly?
• Will they invest the time, money and resources to solve a problem they have or the problem they see coming?  Will they invest that time, that money or those resources in a timely fashion or are they in the "seeking" mode of buying?
• Will they tell you "yes" or "no" when you present?  In order to do this, you MUST have eliminated the current provider.  You MUST have heard them say they want to "fix it", whatever "it" is. And you MUST have a solution that is appropriate for their problem.  You cannot make the mistake that, even though your solution isn't exactly right, you are good enough to sell them on buying something that doesn't fit their exact specs.
• You have to close.  Not close the sale, but close this step and get a clear next step.  There is always a next step even if you are in a "one appointment close" business.  It doesn't matter if your business requires multiple meetings, or one and done.  Always close what you came there to do and then move on.  I promise you that, if you get masterful at this step, you will have fewer meetings and your close ratio will improve.  Ask for closure, ask for a clear next step, ask for the business.

I will not pretend to imply that these are the only "HAVE-TOs" in the start of building your relationship.  I will suggest to you that, if you get these 7 "HAVE-TOs" right, you will close more business, more quickly at higher margins.

It isn't necessarily breaking news for selling, but make sure you read between the lines.  Here is what Seth Godin had to say:

Prediction: There will be no significant newspapers printed on newsprint in the US by 2012. So, you've got two and a half years before the newspaper industry is going to be doing something else with the news and the ads, or not be there at all. Does that change what you do today if you work in this business?

Insight! The newspaper industry is in trouble, but news is not going to go away, just the paper part. Those who are working hard to preserve the paper part are asking the wrong questions and are doomed to fail.

I don't know when the world will stop needing sales people but current buyers in the b2b world really don't need sales people to get information about products or services they need to solve today's problems.  They still use sales people to get pricing if it isn't posted on the website.

Insight:  Stop kidding yourself if you are selling on price.  If you get or lose business based on price, then what are you planning to do when all the pricing and negotiations are available on line?

Prediction: 90% of your sales will come from word of mouth or digital promotion by 2011. How do you change what you're doing today to be ready for that?

Insight:  As companies attempt to get more product into the market place with fewer and fewer people, what skills beside technological skills will you need to survive well beyond 2011?  In the words of Dan Sullivan, author of The 21st Century Agent, there are three things that you must master to keep your job:  Develop long term relationships, provide creative solutions, and move people to make decisions.  Currently, the microchip can't do those things but the question is not if but when?

I take from his blog that we need to stop thinking about what we need to hold on to in order to be successful now and in the future.  We need to let go of those systems, processes and ways we do business today that will inhibit us tomorrow.  Instead of holding fast to what we've always done, we must embrace what we have to do. 

There is nothing easy about this but survival is hardly ever easy.