How to Resolve The Top 4 Financial Sales Objections

financial sales objections cost price budget value

Here’s a quick story about the first step in resolving 4 common sales objections, assessing the objection.

Have you ever heard the story of how McIlhenny’s Tabasco sauce got started?

Before the Civil War, the McIlhenny family lived on an island along the coast of Louisiana called Avery Island. If you look at the bottle, you’ll see a picture of Avery Island, right there off the coast. The island was just a great place to live – it had sugar cane,  fresh water, and cattle. The McIlhenny family loved it there.

When the Civil War broke out, some troops were stationed on the island, and they ended up killing the cattle, burning the sugar cane, polluting the water, and further devastating the island. Continue reading

9 More Sales Prospecting Methods to Boost Your Brand and Your Sales

sales prosepcting to boost your brand and your sales

In a previous post, we discussed 10 quick sales prospecting ideas to boost your sales.  All those ideas dealt with using social media and online properties to make yourself known to potential prospects who are searching online for what you do.

We know that most of your potential customers do their research online. And by the time they begin calling on salespeople, they’ve already decided on what they want to do. Continue reading

Did You Verify Your Prospect’s Buying Signals?

verifying buying signals in sales traffic light

Here’s something I noticed about good salespeople. During their presentation, in particular when they are delivering their prescription to address the challenge, a good salesperson will have the awareness to recognize buying signals, warning signs, and objections. It’s these signals that will lead us into the next phase of the sales process, the dialogue. Continue reading

10 Quick Sales Prospecting Ideas to Boost Your Sales

sales prospecting ideas to boost sales

 

Contrary to popular belief, sales prospecting is not dead, and cold calling is not the boogeyman everyone has made it out to be.

Don’t get me wrong. I think picking up the phone and calling people you don’t know so you can sell them something that they don’t want is a colossal waste of time. And it generates a lot of bad blood to boot. But that doesn’t mean you should simply forego picking up the phone and communicating with people. Continue reading

Sales Training Exercise – Your Sales Close Depends on Achieving This

trial close to achieve sales momentum

In the good-old-days, sales was all about the sales close. In fact, corporate sales teams had manuals stocked with various phrases and tactics their sales reps could use to close the deal. They had the Ben Franklin close, the Puppy Dog close, the Assumptive close, the Columbo close, the Now or Never close… Continue reading

Evidence – The Key to Overcoming Doubt

evidence in sales presentations exhibits are but one form

As salespeople, we have to use forms of evidence to help convince, persuade, and influence the buyer. Remember, everything from here on out relies on the three elements of our Specific Interest Statement: presenting our solution, referencing the primary interests, and appealing to their buying motive. Now that we have that foundation, we need to climb our way to the top of the mountain over obstacles using evidence, practical applications, and showing the benefits of our prescription. Continue reading

Sales Training Exercise – Give Your Sales Presentation Visual Power

sales presentation visual elements and analogies

Quite a few salespeople are of the mindset that they can fast-talk their way through a sale presentation. But In a previous post, we saw how incorporating a visual demonstration made the difference between a mediocre sales performance and selling excellence.

So keep this sales nugget in the back of your mind: Telling is not selling. Continue reading

Sales Training Exercise – Building Powerful Sales Testimonials

sales testimonials thumbs up

One thing you have to remember when you’re standing in front of your prospect is that they perceive everything you say as suspect. After all, you are the salesperson. You’re supposed to say good things about your product or service. That’s why we coach our clients to answer one of the critical questions in their prospects’ minds – who says so besides you. Sales testimonials will do that for you.

Here’s a tip: If you make a claim about your product or service, your prospect will have doubts. If someone else make a claim about your product or service, your prospect sees the claim as more credible.

When we performed sales in our call center days, I encouraged my sales team to gather testimonials from their customers at every opportunity and to get those clients to print out the testimonial on their letterhead. My team then assembled those sales testimonials into a 3-ring binder. This became a tool for every salesperson when they went to a prospect and performed their solution presentation. The client then had physical evidence that someone else, a peer in their industry, was backing the sales team in their efforts.

This concept isn’t new.  In car sales, sales managers have been posting pictures of happy, satisfied customers standing next to their new vehicle for years. Letters of recommendation are a variation of this principle. And if you attend any webinar that is selling a service online, you’ll notice the speaker trots out several sales testimonials from happy, satisfied clients before they make their closing statement. The latest hype with online reviewers like Yelp is simply the digital incarnation of this principle.

Sales Training Exercise – Sales Testimonials Exercise

Here’s your assignment this week. Contact 10 of your best customers and simply talk to them.

Ask them:

  1. Why they bought your product or service
  2. Why they decided to do business with you
  3. How your product is currently performing
  4. If they’re satisfied with their purchase
  5. How the product or service has impacted their lives professionally and personally

You want to know everything about how your product or service has changed their situation.

There are three reasons for this:

  1. First, you need a reason to reconnect with your customers. Many salespeople don’t call their old customers back until they’re ready to sell them something new. While that may be a reason to call, it certainly won’t make your customer feel good about the interaction.
  2. Second, your customers need to remember why they did business with you. They need to reconnect with how you were a problem solver and how your product changed their lives.
  3. Lastly, ask them to write a testimonial for you. This testimonial will highlight everything you just asked them: the challenge they faced before your offering, how their situation changed after your offering, and the impact it’s had on them personally.

These sales testimonials are a powerful form of evidence that you can use to support your sales process. Now you have a response to the question that’s in your prospect’s head, “who says so besides you.” And it gives you more credibility when advancing your sales process.

 

Are you currently using evidence in your sales process? Want to know if your knowledge of the sales process puts you in the game?  Take our online sales evaluation here  and determine if your sales process gives you an unfair advantage over your competition!

 

Sales Training Exercise – Build a Sales Starter that Grabs Attention

use a sales starter and seize your contact's attention
In an earlier post, I cited an example where Jessica had unsuccessfully tried a few times to engage a prospect during her sales opening. Yet when she asked a question that cut to the heart of her contact’s problem, Jessica’s sales starter got her contact’s attention. And it earned her a meeting!

Here’s a tip: the more generic your sales starter, the less engaged your contact will be and the less effective your sales opening will be.

Instead, make your sales opening specific to the contact and to their business or industry. Jessica was successful when she created her opening to address her contact’s challenges down to a personal and career impacting level.To make that happen, Jessica had to do some research on her contact. She had to know something about her contact’s business, and the challenges her contact faced on a regular basis.

Mind you, these aren’t cold contacts. These are people in companies where you think you have a decent shot at driving some business. These are people who have already raised their hand and have in some way indicated that they are in the market for what you are selling. So take a little time to do some discovery work on these people.

Sales Training Exercise – Sales Starter Assignment

Here’s your assignment for the week. During your lunch break today, write down the top five industries that you serve. Then, for each industry, write down five companies that you are looking to break into or are looking to upsell.

Then, when you are back in the office, write down three contacts that are in a position to make a decision for each of the companies you have listed. Now, for each of those three contacts, write down:

  1. Their name
  2. A compliment on one of their accomplishments
  3. A startling statement or statistic about their industry that ties into the solution you provide

The information here is easy enough to find on Linkedin, your CRM, and their social media streams and blog posts. You don’t have to go overboard and discover every detail about their lives. But you do have to show them that you are seriously interested in their business.

Now, you have some options in creating your sales starter before you perform that follow-up call. And your sales starter will be more effective at grabbing your prospect’s attention because it leverages an issue, concern, or idea that already has their attention.

Remember, no one cares how much you know unless they know how much you care. So, do like Jessica. Use a sales starter that shows your prospect immediately that you have their best interest at heart. Your sales opening will seize your prospect’s attention every time.

 

Are you ready to take the quiz?

Want to know if your sales process puts you in the field of play and not on the sidelines?

Take our online sales evaluation here  and quickly assess how your knowledge and skills stack up in the industry.

The Prospect’s Buying Process – Leverage Powerful Insights

buying process gaining insights into your prospects thinking

The Specific Interest Statement in the Buying Process

To make the right diagnosis, the salesperson must align their sales process to the prospect’s buying process. The salesperson accomplishes this by making interim summaries throughout the process. For example: “Based on what you’re saying, you’re looking to address your number one or number two interest, and that’s going to address your motivation.”

This is where the salesperson makes a Specific Interest Statement. They can apply the product or service to the prospect’s needs and appeal to both the prospect’s logical and emotional reasons for buying. Continue reading