Tag Archive | "cold calling"

Overcoming the “I Need to Think About It” Objection


Sales Objection

The following is a Guest post by Mike Brooks, AKA Mr. Inside Sales.

One of the most applied and long-standing cover-ups in the book is the, “I need to think about it” objection. A lot of salespeople struggle with this because they think that the potential client isn’t saying no, and so they don’t know how to react to it.

Unfortunately, what many of you have found out is that your prospect actually is saying no – they’re just saying it in a way that makes it difficult for you to handle it. Well that will end for you today. By using the scripts below, you’ll see if your prospect really does need to think about it, or if he/she is blowing you off. Believe me, you want to know now so you can save yourself weeks of chasing and begging a deal that will never close.

The following scripts were taken from my Brand New Book of Phone Scripts due out in about 6 weeks. These are seven out of ten in the book (there are 20+ NEW scripts on how to handle the money objection alone! You’ll want to pick up a copy as soon as it’s released, so stand by…)

In the meantime, enjoy these and send me an email and let me know how they work for you!!

Response #1:

“_________, whenever I tell someone I need to think about it, I usually mean one of three things: 1 – I’m not going to be a deal for whatever reason and I just want to get them off the phone, 2 – I kind of like the idea but I’m going to have to find the money or talk to my partner, or something else is holding me back, and 3 – I really like the idea and I just have to move something around before I say yes.

Be honest with me; which one of those things is it for you right now?”

Response #2:

“__________, I may have given you too much information on the warranty (or pick another part of your product or service here), is that what you need to think about?”

(Now use your mute button and let them tell you what they are going to really think about)

Response #3:

“You know _________, if this isn’t for you, I’d rather have a no right now

- believe me, you won’t hurt my feelings. Is that where you’re leaning right now?”

(It is always better to get this objection out of them early.)

Response #4:

“__________, let’s face it – you’ve already been thinking about this for a long time. You know you have to make a change or nothing else will change with (your operating system, your results, etc.). Thinking about it more won’t fix things for you – only making a decision will. You like this; you’ve already told me it would work for you. So let’s do this – go ahead and put me/this solution to work for you now and if you change your mind later you will still get the benefit that you’ve acknowledged you need.

Here’s what we need to do to get you started…”

Response #5:

“__________, the only thing more costly than making a bad decision is not making one at all. If you don’t change things then things won’t get better for you. Now, you’ve already admitted that this has the best chance to make a positive impact in your production, right?

Then do what my other clients do and put me and my company to work for you. Once you see the positive results we both know are possible here, you’ll be back to expand our coverage for you. And that’s going to be a win/win for us both, isn’t it?

Then here’s what we need to do…”

Response #6:

“___________, since we both agree this has a great chance to work for you, let me do this. While we’re on the phone right now, I’m going to email you three customer testimonials – companies just like yours who were hesitant as well – and when you read about how successful they were with us, I’ll put together an introductory offer that you won’t be able to pass up. Once you see for yourself how this works, then we can talk about further involvement, is that fair?”

Response #7:

“__________, what I’m hearing from you is essentially a no – and that’s alright. As a sales rep, I hear that all the time and it doesn’t bother me. It just means I haven’t yet explained the value proposition right.

Tell me, what would it take to convince you that this would be a good idea to move forward with – and please be honest with me.”

Mike Brooks, Mr. Inside Sales, works with business owners and inside sales reps nationwide teaching them the skills, strategies and techniques of top 20% performance.  If you’re looking to catapult your sales, or create a sales team that actually makes their monthly revenues, then learn how by visiting: http://www.MrInsideSales.com

Posted in Closing Techniques, Presentations, ProspectingComments (0)

Disappearing Prospects Part 2


lost_ezr

This is a Guest post by Jill Konrath of Selling To Big Companies.

What are the things that you can do when your potential clients disappear into “the black hole?” When you don’t know the reason why you haven’t heard from them, determining how to respond can be a problem, especially since you don’t want to be annoying.

Here are some methods that you can use in dealing with “the black hole:”

Persevere.

Keep in mind that clients expect you to keep in touch all the time. It usually takes 8-10 contacts before you can get in contact with them again. Don’t be terrified. This is completely normal in business nowadays.

● Value each connection.

Don’t just say, “Hi, Alex. Just getting back to you as I promised about your _______ decision. If you have questions, just let me know.”

Instead, say this: “Alex, based on our meeting last week, I know how vital it is for you to shorten your sales cycle. There’s a white paper on our website that focuses on this. I’ll email you the link in a while.”

● Have a sense of humor.

Inject some humor on your communication. Leave a funny message such as, “Alex, I know you’re extremely busy. But I also know that your sales cycle is of great importance to you. That’s why I keep bugging you. I am looking forward to reconnect with you at last,” after 4-5 contacts with the prospect.

● Use different media.

Combine different approaches. Combine voice calls with voicemails, emails, mailings, invitations to events, and articles in the mail. Ensure that each contact informs and educates.

● Establish different modes of entry.

Recognize and cultivate several relationships concurrently. Don’t just let one person be your total gateway to a company. And reference others you are speaking with in your messages or emails, when appropriate.

● Re-assess your initial connection.

How can you double their urgency? How can you find out if you are just column fodder? How can you link your offering more into their business priorities? Too many a time, salespeople focus on product or service information when speaking with prospects. Instead, concentrate on significant business results and the difference that you can make.

● Prepare for your next action.

Don’t leave a meeting without a homework assignment for the salesperson and the prospect and a scheduled definite follow-up appointment. If they’re not cooperative and are reluctant to do this, it is a sign that something might be wrong. Dig deep into this and explore their need and urgency better.

● Let them off the hook.

Email them saying that you thought that they were engrossed with the offer, but maybe you got the wrong idea about the situation because you haven’t heard back from them in a couple of weeks. Believe it or not, this approach often receives a reply and an explanation from a potential client who is feeling guilty about not reconnecting.

● Lessen your contact frequency.

If you contacted them 10 times already, and still you didn’t get a respond, lessen your contact with them. A quarterly schedule might be more suitable. Or, you can reconnect at a more fitting and proper time with the client.

By using one or more of these methods, it is highly likely for you to reconnect with a prospect who has disappeared into “the black hole.” These strategies may not work all the time, but these often get the job done. And if you have repeatedly given value and concentrated on the impact your offering will bring, they will likely be prepared to apply your solution yesterday.

Jill Konrath, author of Selling to Big Companies, helps sellers crack into corporate accounts, shorten sales cycles and win big contracts. She’s a frequent speaker at annual sales meetings, kick-off events and professional conferences. For timely and provocative sales advice, visit www.SellingtoBigCompanies.com.

Posted in Closing Techniques, ProspectingComments (0)

Don’t Ask if They are the Decision Maker


call

This is a Guest post by Art Sobzcak.

When I review opening statements for seminar attendees, clients at in-house training sessions, or for buyers of my Opening Statement Teleseminar on CD, I hear lots of openings that need assistance. Most of them, actually. And don’t even get me started about the openings that I hear when sales reps call me to sell. Many of these openings are destined to create resistance.

I am very picky about openings. That’s because we have so little time to create interest. Yet, most openings flat out elicit resistance, or don’t move towards interest fast enough, therefore giving the listener time to let the resistance build.

And the little things can do it. A couple of words here or there. Perhaps a question that doesn’t belong…too many unnecessary words that ramble like a congressman on C-SPAN late at night.

Sad part is, some of the things I hear are actually taught by sales “gurus” in seminars, books, tapes, e-books …whatever. I have to wonder if some of these experts have ever actually been on the phone.

I’ve decided to not be shy about dispelling some of the myths and bad suggestions being perpetuated out there—things that are causing salespeople to run into brick walls. I’ve been a bit hesitant to focus on this stuff too much, since occasionally I’ll get an email saying, “Don’t write about negative things. Don’t tell us about what to avoid. Tell us what to do.”

Well, I feel that one of the best ways to improve is to first cut out the mistakes. Let’s take this one: Finally getting a decision maker on the phone and then starting a prospecting call with,

“Hi, I’m Pat Seller with ABC Company. Are you the person there who would handle the decisions regarding your____?” Or, “…and I understand you are the person there who…”

I can hear the reactions now from some readers: “So what’s wrong with that?”

Here’s what’s wrong: You might as well start off the call with,

“I’m selling something. Are you the person I should be pitching it to?”

And again, I know that most of you see the problem with that, but yet someone might still be asking,
OK, we ARE trying to sell something and we want to be sure that this is the person we should be talking to, right?”

Right. But that IS NOT the way to do it. Here’s why:

  • people would rather not talk to salespeople they don’t know. It’s natural, like the way we typically avoid the salespeople in retail stores who stalk after us and ask, “May I help you?” People like to buy, but don’t want to be sold. This announces your sales intentions, triggering the defensive posture.
  • you have about five seconds to move a person into a positive, receptive frame of mind on a prospecting call. If you’re not doing that, they’re creeping into a negative frame of mind, moving into the mode of “How do I get rid of this salesperson?” Again the question about  “Are you the person…?” solidifies that before you have even begun to create interest.
  • you should already KNOW that they are the decision maker for what you sell, BEFORE you ever hear their voice. That comes with good preparation and asking questions of other people within the organization. Even if you don’t know for sure, after delivering your opening—without this question— if you’re not in the right spot, they’ll let you know. And if you are in the right place, you haven’t jeopardized the success of what you want to accomplish: getting them into a positive frame of mind, and moving them to the questions.

OK, so what should you do? When the decision maker answers, go directly into your opening:

Hi Pat, I’m ___with _____. We work with ____,  helping them ___. I understand that you’re now in the process of ____, and there’s a possibility we may have an option that could help you to ____. I’d like to ask a few questions to see if we should talk further.”

That’s very generic, and I always suggest that you tailor and customize your opening with information you collect before the call, and on the phone by speaking with others in their company so that you touch on results they would have interest in. And you can see that after that opening example, if you indeed were not in the right spot, they’d let you know.

Plus, if you still want to ask, “Am I in the right spot for what I just explained?”, you could do it after you’ve piqued their curiosity, since you’ve presented a possible benefit.

Sure, we need to find out if they are a decision maker. We just do not ask THEM in the opening.

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

Posted in Opening Statements, Presentations, Prospecting, Rapport and Trust, Telesales ScriptsComments (0)

Disappearing Prospects


disappear

This is a Guest post by Jill Konrath of Selling To Big Companies.

Doesn’t it bug you when potential clients stop returning your call? It’s especially difficult when they have been showing interest in moving forward with you just a few weeks before.

In the beginning, you assume that their lack of receptiveness is a condition that will immediately self-correct. But after constant unsuccessful efforts to connect, you begin to question your own sanity.

As a salesperson, it is vital to determine why this is happening prior to doing something. Based from experience, the following are the common reasons why prospects disappear into “the black hole.”

1. They’re pre-occupied with other things.

No doubt this is the most common reason. In all companies today, people are too busy with appointments and tasks, and barely have enough time to accomplish everything.

2. Change of priorities.

This can happen suddenly. A change in market conditions, poor third quarter sales, and new management can influence people in changing their priorities. When something like this happens, it is impossible to regain your momentum in a short period of time.

3. Lack of importance.

Salespeople often misunderstand a potential client’s interest level with a need to take action today. And because of this, they tend to divulge all the amazing details about their offering instead of establishing a business case for instant change.

4. Column fodder.

Sometimes, providing comparative bids/ pricing to potential clients can justify their decision to go with another company.

5. The prospects feel they know everything.

When clients feel that they have everything they need, all the details, information, and facts, they won’t be interested in speaking with you anymore.

Different causes call for different measures. Prevention is better than cure. You can prevent some of these causes by doing things differently in your customer interactions.

Jill Konrath, author of Selling to Big Companies, helps sellers crack into corporate accounts, shorten sales cycles and win big contracts. She’s a frequent speaker at annual sales meetings, kick-off events and professional conferences. For timely and provocative sales advice, visit www.SellingtoBigCompanies.com.


Posted in ProspectingComments (0)

Recognize the Need


telephone ringing twn

This is a Guest Post by Mark Hunter.

When is the best time to make a phone call?  We’re not talking about time of day or time during the week.  While those are important to dissect, I want to touch upon something that is of greater importance when thinking of timing.  And too often many salespeople overlook it.

The best time to make a phone call to your customer or prospect?  The closest as possible to when he or she is facing a need or experiencing a pain. That is the best time to call. Your job as a salesperson is to match the benefits of your product or service with the needs and pains of your customer or prospect.  Your customer doesn’t care about features – he or she cares about what those features are going to do for them.  So the more clearly you can make your presence known when the customer is experiencing pain or need, the greater likelihood he or she is going to listen (and buy!).

“But how do I know when the customer is in need or pain?” you may wonder.  You have to do your homework.  You have to know as much as possible about your customer. You will then be able to discern what information is relevant to determining where your product fits into their life or their business (if you are in B-2-B sales).  Plain and simple, homework is hard work.  Mediocre salespeople don’t want to do it (or if they do it, they do it at bare minimum levels).

You’re not a mediocre salesperson, so don’t shortcut the pathway to better sales and better customers.  Whatever system you have in place to compile info about your customers, make sure you are regularly updating it and referring to it.  That way, you will become adept at timing your calls closely to when your customer is in need or pain.

Mark Hunter,The Sales Hunter,” helps individuals and companies identify better prospects, close more sales, and profitably build more long-term customer relationships. He is a consultative selling expert, specializing in custom-tailored sales programs. You can read his blog at http://thesaleshunter.com/blog.

Posted in Prospecting, Voicemail and EmailComments (0)

Customize Your Approach


Telemarketing_Test_Image

This is a Guest Post by Mark Hunter.

Never view any two calls in the same way.  Instead, have different styles depending on the type of customer you’re calling and the outcome you expect to achieve.  Top performing salespeople will have a distinct calling strategy for each type of person they call.  The best way to do this is to break your customer list down into segments based on their size, their potential, and, if you know, the contact’s personality and approach to decision making.

Using the Inquisitive Approach

This is an excellent approach to use when dealing with a small customer and especially when contacting the person who owns the business.  The Inquisitive Approach is based on the strength of the question you’re asking.  It needs to create interest and a sense of ego-satisfaction with the small business person / owner.

Using the Assumptive Approach

If you use the Inquisitive Approach with large customers, you will be seen as somebody who hasn’t taken the time to research and appreciate the size of the customer you’re calling.

Big customers want to be treated as big customers, and they only like to do business with others who they believe are equally big. Big customers find safety in talking to their peers (others who understand how big companies work).

Your opening needs to be statement-focused and deal with an area of pain the customer is experiencing.  Don’t allow your statement to come across as if you’re asking a question about what the person does or, worse yet, what their customer does.  A large customer expects you to have done your homework prior to the call. Demonstrate that you value their time and company.

Whether you are prospecting or calling existing customers, make sure you are thoroughly prepared with an approach that fits that particular customer.

Mark Hunter,The Sales Hunter,” helps individuals and companies identify better prospects, close more sales, and profitably build more long-term customer relationships. He is a consultative selling expert, specializing in custom-tailored sales programs. You can read his blog at http://thesaleshunter.com/blog.

Posted in Prospecting, Vocal Skills, Voicemail and EmailComments (0)

How to Build Up Credibility


Direction

This is a Guest post by Jill Konrath of Selling To Big Companies.


Thinking of steering your business into a new direction? Your biggest concern will be credibility. Companies don’t want to be your first client in a vertical market. They don’t want to waste their time showing you the ropes, training and teaching you. Despite being a good company, being inexperienced will increase the possibility of committing mistakes.

Here are a few things to remember:

1. Slowly but surely.

Study the industry that you’re joining. Do your homework and research important information such as industry terminology, rival companies, salable products and services, target clients and specific business processes and operations. Test the waters first. Don’t be too eager to move into the market.

2. Observe carefully.

Determine how they do things in relation to your business offering. Is there any difficulty in achieving certain business goals? What solutions can be suggested? What are the financial consequences of these problems?

Inform your prospective clients of the benefits and value of your products and services. Impart the business outcomes and results when using your offering.

3. Establish connections.

The more contacts you have, the easier it will be to make transactions. It is also better to establish connections between your present customers and your new ones.

4. Start with smaller opportunities first.

Smaller opportunities are easier to manage and the risks are lesser. Deliver an excellent performance on the tasks and assignments that you promised. Then start pursuing other available opportunities to expand your mark.

5. Train your employees on all of the above.

Teach your salespeople to do all these. They will fail if they don’t know how to apply these. Showing them powerpoint presentations aren’t enough. Not only do they have to learn the product/service details, they also need to be able to initiate smart business conversations with companies.

6. Equip your salespeople with easy-to-use and easy-to-understand tools.

Teach your salespeople how to leave effective phone calls, voicemails and emails. Then you can train them in setting up meetings with clients. Provide relevant papers, charts and studies that can be useful when they’re discussing your company’s products and services to prospective clients. Provide a “question matrix” that will serve as guide when making calls. Create customer-focused powerpoint presentations to be used on meetings.

7. Have faith.

Apply the suggestions above to increase your chances of success. Don’t be too eager to succeed. Plan things carefully before making business decisions.

Jill Konrath, author of Selling to Big Companies, helps sellers crack into corporate accounts, shorten sales cycles and win big contracts. She’s a frequent speaker at annual sales meetings, kick-off events and professional conferences. For timely and provocative sales advice, visit www.SellingtoBigCompanies.com.

Posted in Customer Service, Goals and Targets, Presentations, Prospecting, Rapport and TrustComments (3)

Ideas to Increase Your Sales in 2010


stock-photo-rz-web-growth-success4

This is a guest post from Karen Andrews of ShineSales.Com

Below are strategies to aid you in increasing your revenue in 2010:

1. Examine your Customer spend.

What percentage of sales did each customer contribute to the overall profits? What product or service was the most salable? What other value or benefit can they get from these products and services?

Examine your records and group your customers according to spend, percentage or value to the company. You can categorize them into A, B and C level.

2. Show your customers some TLC.

Take the time to sit down with your customers. Confer with your Class A, B and C customers regarding goals and objectives. Ask them:

  • What are your plans for 2010?
  • What do you want to achieve this year?
  • What can we do to help your business?
  • Do you know that we also offer (mention latest product or service)?

Set meetings with your customers and share your plans for the year and inform them of your latest products and services that they could benefit from.

3. Create a Management Plan.

Strengthen your relationship with your customers by developing an organized plan. Decide how many visits your sales team will give to your customers. By doing this, the customers will be satisfied and loyal. The frequency of visits will depend on what type of business you have. Below is an example:

  • Class A- 6 visits per year
  • Class B-3 visits per year
  • Class C-1 visit per year

4. Look back.

Go through your records and compare your sales in the previous years. Identify consumer trends. How many customers lessened their spending? How many stopped spending with you?

If your customers didn’t buy from you last year, call them up and introduce the latest products and services that might interest them.

5. Talk to your customers personally.

This may be a time-consuming approach but closing sales will be easier and quicker if you talk and discuss with customers face to face. Although it is more convenient to just send emails and leave voicemails, don’t underestimate the power personal meetings have in speeding up the sale.

This sales article was written by Karen Andrews, Director of Shine Sales Solutions, a Sydney based Sales Coach, Strategist and Sales expert that works with businesses to increase their sales through strategy development, sales coaching and mentoring.

Posted in ProspectingComments (1)

What are Trigger Events and How to Use Them


young-business-man-ready-to-set-a-deal-over-white-thumb8082220

This is a Guest post by Alen Majer, CEO of The Science and Art of Selling.

Your mission as a sales person should be to find companies that have immediate wants and needs. This means that something happened or is happening to them – a move, a merger, new investors, etc. You have to look for any event that might create the opportunity for you, or better said you are looking for event that can trigger the sales for you.

It could be something internal or inside the company, like a new direction from management, a merger or an acquisition, rapid growth, or maybe a new product introduction. And it could mean the company is turning “Green” and needs new and different supplies and services.

It could be external or outside the company, like the new strategies of their competition or new legislation (Sarbanes- Oxley Act). Maybe even a natural disaster, which is a well-known external trigger for many customers.

Generally speaking, trigger events have effects inside the whole company. Suddenly new needs are recognized; previous decisions need to be revisited. Very often, management becomes aware of new priorities and changes the direction of the company.

Trigger events are extremely important when we are in the search mode, looking for our next customer, and when we need to identify our sales opportunities at a particular company from our target list.

Every company has something new happening. Maybe they improved or reintroduced their products or service. There could be new faces in the boardroom or on the sales floor. A new office may have opened up in the Midwest. A new vendor or strategic partner could have been added. Even new money or investor may come into the company.

Most important for a buyer is that the provider understands the buyer’s situation, needs and business.

Every change in the business environment causes a search for new suppliers or new service providers, and your main goal is to be in front of qualified buyers when they are ready to buy.

In these situations, I would say this is almost the perfect position for every sales person. You know there is something happening with the accounts from your list of targeted accounts and you know that as it happens – perfect timing is a key of success many times. This is equally true no matter if it is with small or large companies.

An example of the above is a situation where through your trigger event research you determine that your customer is planning to switch its ordering system to one of the new software solutions. So you know there is something going to happen. Whether the company is large or small, it can be perfect timing for you to be able to provide products and services to them using that kind of ordering/sales process.

How to use that information?

When you get the information related to a trigger event, you need to adjust your approach so the benefits of your products (or services) are closely related to the trigger event, and you are able to show your customers that you can create a value for them early in the buying process.

This is a good way to start working on the relationship and developing the customer’s perception of your value to them. This means when you speak with the decision maker and if you know exactly what this trigger event is about, you will be able to tailor your story and the benefits of your product in a way that sounds appealing and is related to the customers’ growth trigger event.

You need to adjust your presentation in the way to recognize that event and to present your offering in the most effective way.

Questions you will ask on your calls or meetings with prospects will be targeted towards their needs and you will be able to demonstrate your understanding of business situation. That should bring you a step closer to get the deal done.

You definitely want to discover their hot buttons and why they could be on the market now for your products or services. Also, you should find out why they are qualified now, at this particular moment, and why you should be very active with this prospect.

It is actually very simple – when you show your prospects that you actually care and you have done your homework and you know about trigger events happening inside their company (new CFO, merger and acquisition, bad 3rd quarter…) you also show them that you are interested about their issues, and most importantly concerned about their wants and needs.

You will create interest in their eyes because you are different than anyone else who contacts them, who is simply trying to sell something without really understanding their needs.

When you know about different trigger events it will be much easier for you to ask questions that lead to uncover customer’s needs and buying motives, and to put them in the market even if they feel they are not buying anything now.

If you try to make a sale without necessary information about your customers, you are just shooting blanks in the air, hoping to hit something. With full information about your prospect’s situation, you will be able to sell easier, and that is the main purpose of this article (and my blog) – to help you find your next customer in a much easier way for you, and yet maintain a professional, knowledgeable approach.

All needs are easy to understand once they are discovered; the point is to discover them.

Alen Majer consults and trains entrepreneurs and salespeople how to harness their (sex) energy and use it for the success of selling. He is the founder and CEO of The Science and Art of Selling – a sales training, coaching and consulting company in Toronto, Canada; co-founder of Sales Academy – Croatia and Sales Institute of Croatia. Visit his blog at http://www.alenmajer.com.

Posted in Closing Techniques, Customer Service, Prospecting, Rapport and TrustComments (0)

Telesales Tip: Show Them the Money for the Best Results


money

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

Posted in For Managers, Presentations, Prospecting, Rapport and TrustComments (0)

Get Our FREE Telesales eBook NOW!!!

Our NEW Facebook Page! Join NOW!

Our Latest Tweets! @telesalesmagic