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Negotiating on the First Tee (Part 2)

Posted by Tony Cole on Fri, Jun 19, 2020

In Part 1 of "Negotiating on the First Tee, we discussed the practice of negotiating with your prospect before you begin your presentation.  In Part 2, we continue this discussion and add more to the conversation.

In order to increase sales and close more deals, you must understand the client's business strategy, build a strong foundation for negotiation, and cross off all the boxes for a killer Sales DNA.

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  1. Establishing the ground rules for time of presentation are critical. Before we get to that though, you must have a transitional discussion
    • "Let me take a minute to review where I think we are..."
    • "You have the following issues a,b, and c that if not taken care of within this time frame will cause the following to happen and this outcome is a have to fix problem"
    • "Your capacity to invest time, money and effort to fix the problem is this…"
    • "And I’m assuming for a minute that if we are able to fix this for you, in the budget you’ve identified with the right criteria and priorities, you would also want me to be in a position to answer any and all questions at that time"
    • "Did I get this right?" (Buyer says yes)
    • "Good, assuming we can do this I will be prepared to do all those things. If I can’t, I will call in advance and cancel our presentation meeting.  Fair?" (Fair)
  2. Ground rules discussion:
    • "It may not be effective here, but there is a process that we recommend to make sure we are all on the same page, can I share that with you?" (Yes)
    • I need for you to be prepared as well:
      • "As I am going through my presentation, you will be thinking one of 2 things: 1) this makes all the sense in the world; let’s do this, 2) This won’t work for me, the money is wrong or I don’t think there is a fit"
      • "When I’m finished, I’m going ask you which one you are thinking. What objections do you have to that process?"
    • Anticipate and prepare for objections when you complete step six. Keep in mind that  an objection, stall or questions does NOT mean they are telling you no. They just need more information or you need to find out more clarity about compelling issues, capacity to invest or clarity on decision making. At the end, you do your best to eliminate any TIOs (Think It Overs)
    • Let's assume for a minute that this works for you. You are not done minimizing the opportunity for negotiation at time of presentation.  When you finish this discussion, you must return to your  office and write out and send the "As we agreed to letter" that covers the 3 “Cs” and inform the buyer you will call to confirm the information you’ve sent.  Then call to confirm.
    • Presenting to get a decision is as much of a mindset as it is a process:
      • Review what you’ve discussed
      • Review the as we agreed to letter including money and decision process that will take place today
      • Ask, “What’s changed?”
      • Make the presentation starting with their priority item not the first page in your presentation
      • Answer all of their questions about each solution, get them to score that solution on a scale of 1-10. If you are 7 or better you are in good shape but still you need to get them to a ten.  Once you get the ‘10’ you check that item off.
      • Ask our closing question:
        • "What where you thinking as I went through this. Assume for this discussion they said, This is really great we should do this! 
        • You ask, what should we do now?
  • Or your alternative is:
    1. Do you believe based on what we presented that we understand your business and what you are trying to accomplish?
    2. Do you feel we can help?
    3. Do you want our help?
  1. Despite this great process and effort, you can expect buyers to ask you questions that they haven’t asked yet, raise objections, or present you with stalls.  The first thing is this: Be prepared by conducting pre-call strategy meetings and role play these challenges.  Always understand that prospects are looking out for their best interests and not yours. Do not get emotionally involved when they throw you the curve ball!

Now I bet you are thinking, Tony, where is all the negotiation stuff?  Well that’s it right there. You win the bet on the first tee.

Topics: compelling reasons to buy, communication, communicating expectations, cost of hiring mistakes, crucial elements, desire for success, consistent sales, commitment to succeed, commitment, decisions, desire, creating habits for success, coaching salespeople, evaluating salespeople, developing sales skills, evaluating sales teams, creating sales habits, core values and beliefs, creating advocates, consistent sales results, consultative selling, create & convert leads, complacency, contacting prospects, deal or no deal, creating new sales opportunities, consultative sales coaching, corporate sales training, consultative sales coaching cincinnati, consultative selling cincinnati, corporate sales training cincinnati

Being a Great Steward for Your Clients

Posted by Patrick Kollmeier on Mon, Nov 26, 2018

Today's blog turned vlog comes to you from our very own Walt Gerano, as he discusses the importance of being a great steward for your clients, and how these tactics will help you grow your business and relationships.

Check him out below!

If you enjoyed Walt's video, check out his recording to learn how being a steward leads to building client advocates for your business as well.

In this audio experience, Walt discusses the 4 Steps to Create Advocates in your business.

  1. Find out what they want.
  2. Prioritize critical areas.
  3. Identify established performance levels.
  4. Negotiate expectations.

Listen Here!

P.S. - Please feel free to Share our post via social media below with friends, family, colleagues, clients and more!

Topics: develop relationships, building advocates, building sales relationships, creating advocates, client advocates, steward

4 Steps to Create Client Advocates

Posted by Walt Gerano on Tue, Jan 17, 2017

A guest post by Walt Gerano, Sales Development Expert, Anthony Cole Training Group

advocate_checklist.jpg

Today's question is this: “What are you doing to keep your clients coming back... and telling their friends?”

Can you think of a place where you go, wait in a long line, spend a lot of money and yet can’t wait to tell others how great it was and go back again?  Well, that could describe a number of places, but the frame of reference I want to use today is the Disney experience.

No one would argue with the success that Disney has in exceeding expectations and creating advocates. When you go there your first time, it is more beautiful than you ever imagined.  You have such a magical time that you forget about how much things cost or how long the lines are for almost everything.  In his book, Inside the Magic Kingdom, author Tom Connellan shows us (in story form) the seven keys to Disney’s success and how they work to create a dazzling experience for all of their guests.  As you read the book, you can only imagine what would go into building and sustaining that kind of relationship with your customers.

In order to achieve “dazzling”, you must have a process that is consistent and predictable.  People need to know what they can depend on when they trust you with their business.  In other words, it’s not a once-in-a-while thing; it is just the way you do things.

Keep in mind that it does not have to be the same thing for all of your clients.  The way you support your top 20% needs to be different from how you support your bottom 20%. But, at the heart of it all, everyone gets the basics.

So, how DO you create advocates?

  1. You have to find out what they want.How do you do this?  Ask!  Give them a list of things to choose from with the option to add things that might not be on the list.
  2. Next, prioritize critical areas. The key here is to find out what they won’t tell you.  How many times have you left a restaurant after you told your server everything was fine when they asked… then you  get back to your car and vow to never go back?  Some of your clients may do the same thing.
  3. Identify performance levelsand find out where they are setting the bar; don’t assume you know.
  4. Negotiate expectations. Now is the time to deal with anything you are not willing to agree to. Sometimes we say “yes” because we think it’s a deal breaker; just ask and then decide.  If it is outside your process, then you are better served to move on because, unfortunately, it will always be a struggle and they will never become an advocate anyway.

The only way to exceed your customer’s expectations is to know what they actually are, not what you think they are.  Start by having that conversation first and soon you will have them coming back for more and telling their friends.

Additional Resources:

Solving Problems for Prospects

Topics: exceeding customer expectations, creating advocates, solving sales issues

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    About our Blog

    Founder and CLO Tony Cole has been working with financial firms for more than 25 years to help them close their sales opportunity gap.  He is a master at using science based data and finely honed coaching strategies to help build effective sales teams.  Don’t miss his weekly sales management blog insights.

     

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