This is a Guest post by Art Sobzcak.

“Show me the money Jerry!”
Rod Tidwell, character in “Jerry MaGuire”

Once into his questioning, the sales rep asked, “So you’re finding that the last stage of the manufacturing process is a challenge.”

Prospect: “Well, yeah, we’re having to do a few repetitive tasks to get it done.”

Rep: “We have software that can make that job easier and it’s only $5,000.”

Prospect: “$5000 just for making that part easier. That’s crazy.”

So what happened here?

The sales rep uncovered a problem. However, he was so eager to talk about how his product solves that problem, he failed to continue walking the prospect down the path to realizing what the problem was costing him. He didn’t see the problem as being painful enough in the short- or long term.

For most business-to-business transactions, it’s all about the money. The return on investment.

It’s pretty simple: you will always sell more when you help the prospect or customer understand the cost of the problem or potential problem, and then the payoff of the solution and/or the result of taking action

Dollarize the Situation

In his great book, “How to Become a Rainmaker,” Jeffrey Fox calls it “Dollarizing.” He says, “Rainmakers don’t sell fasteners or valves or washing machines or double-paned windows or tax audits or irrigation systems or training programs or golf clubs. Rainmakers sell money! The sell reduced downtime, fewer repairs, better gas mileage, higher deposit interest, increased output, decreased energy usage, more wheat per acre, more yardage per swing.”

When you analyze it, we buy thins because the price we pay for something is perceived as being less than dollar value we attach to the result. Our job, then, is to be sure they realize that the value of the result is high and the price is low.

The classic book, “SPIN Selling” uses the term, “Implication Questions.” It’s taking a problem that a buyer perceives to be small (or nonexistent in some cases) and building it up in a problem large enough to justify action.

Using the earlier example and dollarizing with implication questions we could get a different result.

Prospect: “Well, yeah, we’re having to do a few repetitive tasks to get it done.”

Rep: “What do you have to do?”

Prospect: “In the final stage, one of the operators has to go back and re-input the command codes to keep the line moving.”

Rep: “Please explain.”

Prospect: “He has to leave his main station, move over to the other console, input the codes he already put in, and then go back to his position.”

Rep: “How often is that happening?”

Prospect: “Geesh, over a hundred times a day?”

Rep: “Isn’t that slowing up the line and cutting down production?”

Without belaboring this, you can see where the rep is going with this, and ultimately would get the prospect to tell him exactly how much lost production is costing the company every day! Extrapolating that out over the course of a year might mean hundreds of thousands in lost profits. Now then, wouldn’t that $5000 software be a no-brainer?

Monetize and Quantify

Whenever you uncover a problem, a pain, or a desire, attach numbers and dollars to it. For example,

“How much is that costing?”

“How many?”

“How often does it happen”?

“What are the other expenses involved?”

There are hundreds of questions that could apply. Matter of fact, you should define them for yourself.

Your Action Item

Pull out a legal pad. At the top of the first page, describe a result of your product or service, such as, “High quality plastic, meaning fewer returns due to defects.” Then, list all the possible costs of returns due to defects for a customer, such as customer service phone time to take the call, cost of replacement part, all shipping costs, return of defective part, possible lost sales because of poor quality, and more. Finally, develop questions designed to get your prospects and customers talking about the problem. Take if further and brainstorm for their possible answers, then your next questions to keep them talking, and attaching costs to the problem, and the payoff for a solution. Rinse and repeat. Start new pages for each of your results.

Just think of what lost sales might be costing you now, and how much more you could make by doing this.

Art Sobczak has helped sales pros say the right things by phone for over 27 years.  Get a free ebook of tips at http://www.BusinessByPhone.com, and see more free sales and prospecting tips, hear recorded calls, and watch videos at http://www.TelesalesBlog.com