XXX What is the most often forgotten sales technique???

WHICH IS THE MOST OFTEN 

FORGOTTEN  SALES TECHNIQUE

This is one of the most talked about sales training topics among salespeople and sales managers.Every salesperson wants to  close the deal quickly and effectively. The expression “closing the deal” means getting the business. “

Successful sales people  know that there is no need to use magic phrases or techniques, because if they’ve effectively followed the sales process, closing the sale is the next step in a logical sequence. a technique used in selling to assess the buyer's readiness to make a purchase decision.

Trial close is a sales technique wherein the salesperson uses certain variety of questions and observations using which they then try to find out the mood of the buyer regarding the product, whether he is interested in buying the product or not.

WHY IS TRIAL CLOSING SO IMPORTANT?

In my experience as a professional sales consultant and sales trainer, I’ve seen far too many examples of salespeople talking about their product/service and then asking for the sale. As such, most salespeople don’t really know where they are in the sales process. When they try to close the deal there are too many impediments or unanswered questions on the part of the buyer and the answer is “no”. The salesperson doesn’t like the word “no” and doesn’t know how to respond, so he/she walks away with another lost opportunity.

The first reason to trial close is to understand where you are in the sales process so you know what is important to the buyer and where to take the conversation. The close” refers to the point in the sales process at which the salesperson asks for the business. Closing is easy when you have thoroughly appreciated each customer’s specific requirements and aligned the presentation of your solution accordingly. Closing is the process of helping customers make a decision that will benefit them.You got to guage where you really are at the selling process. 

The second reason to trial close is to find out when it is appropriate to ask for the sale. Knowing when to ask for the sale is much more important than knowing how to ask for the order. I don’t believe in hard closing a customer – it is just too uncomfortable for me and I’d rather be a trusted advisor than a hard seller. If you know when to ask for the order, then how you ask for it is so much easier.

This  should be used in your interactions with prospects and customers. Trial closing gives you valuable insights into the customer’s perspective on what you have said, and it enables you to “layer in” another agreement that helps move the customer to an ultimate close. Trial closing ensures that both you and your prospect are on the same wavelength, which adds to a feeling of deeper rapport and general agreement.

HOW TO USE SALES CLOSING TECHNIQUES

A trial close usually takes the form of questions that ask for decisions on minor selling points; if the salesperson gets favourable responses to these questions, he or she can more confidently attempt to close the sale.

Here are some different examples of trial closes that can be very effective when used at the appropriate moment. Following are some common trial closing questions. Think about these in terms of how easy they are to ask and how much information you can get from your prospect.

“How does that sound to you?”

•  “What do you think?”
• How do you feel about what we have discussed so far?
• What do you think about the solution I’ve shared with you?
• How does what we’ve talked about sound to you?
• Based on what you’ve heard so far, what are your questions?
• If you had your way, what changes would you make to the proposal?
•  “Is this what you are looking for
• “If I can satisfy your concerns regarding this point, are you happy to proceed?”
•   “It appears that you have a preference for this option. Am I right?”
•     “Are we on track with this proposal?”

·      

The close you choose should be based on what you know about the prospect and the type of close you believe they will be most open to. It’s important to choose your words wisely. Using the right persuasive language in your closing technique can have a big impact on the outcome of a deal. Here are 4 highly effective sales closing techniques that are popular with sales reps:

1. The assumptive close:

This technique involves using a phrase or language that assumes the close is a done deal. For example, you could close with, “What day do you want to receive your shipment?”

2. The option close:

Similar to the assumptive close, rather than asking for a prospect’s business directly, you ask them which option they prefer. For example, you could close with, “Do you want your shipment delivered on Wednesday or Friday?”

3. The suggestion close:

If you have good rapport with the prospect and they view you as a trusted expert, a suggestion close is a good approach. You could close with, “Based on what you have told me about your operations, I would suggest you receive orders on Fridays. Does this work for you?”

4. The urgency close:

Creating a sense of urgency places pressure on the prospect to make a decision, especially if you have identified that the client needs to make a decision quickly and is working on a short timeline. Think of the “limited time offer” as an example. However, unlike other closing techniques, this should only be used occasionally and by experienced sales reps who have a strong relationship with a client.

Remember though, these are all open-ended questions. You need to ask a trial closing question that will get the prospect talking so you can learn about where you are in the sales process and when is the right time to ask for the sale.

There are four important times during the sales process when trial closing can be hugely beneficial:

1.      After making a strong selling point

2.      At the end of your presentation

3.      Before handling an objection

4.      Immediately before closing

Once you use a trial close, actively listen to what the customers say and observe their body language to assess their reactions. It’s important to bear in mind that trial closing doesn’t directly ask the customer to buy; it asks only for an opinion. Above all else, you just need to be clear that your proposal is right for the customer and you have created a win-win relationship. Timing is everything when it comes to closing and there are a number of indicators, often produced by the trial close, that signal when a close should be attempted. Only close if the customer is ready.

The best part of closing, besides winning the business, is that each time you close you get the chance to broaden and deepen the relationship and move it toward a partnership.

Spending all that time doing the leg work, researching prospects, building rapport and understanding a prospect’s unique needs all leads to one thing – the close. Closing a sale is the goal, and if you are good at it, you will be very successful. As sales managers, we know that unfortunately, the close is perhaps the most difficult aspect of the sales process. Getting people to commit is a challenge, even if it’s to a minimal order.

CONCLUDING- Always Be Closing (ABC)

Closing requires putting in the work. You have to prepare for the many possible situations that lay ahead, including pushback and objections. Good sales reps understand that building to a close is a process, and it involves getting a series of commitments (or smaller closes) as you work your way through the sales process. At each step, you are further qualifying a prospect and moving them through the sales funnel. But, once you get to the final close, you have a variety of closing strategies you can employ.

Research is key. Sales reps need to find out everything possible about the client, their business, needs, issues, interests, and current solutions. Doing your homework will help you find great solutions and analyze factors that may potentially prevent or delay closing.

With best wishes

Dr Wilfred Monteiro

XXX Sales Champions anticipate buyer objections and either answer them in advance or offer considered responses when they are presented.

How to Handle Objections

 like a Sales Champion

Most salespeople think of objections as a bad thing... but they're missing the big picture. If your prospect raises an objection, that's actually a good sign. The fact that they're talking out their concern means that they're giving you a chance to answer it. If someone is completely uninterested in buying your product, they won't bother to object – generally they'll just sit through your presentation in silence (with arms folded) and then send you away. Here's a simple process to help resolve your prospect's objections.

Here's How:

1.       Listen to the Objection. 

Don't jump all over the prospect as soon as he says “But what about-.” Give him a chance to explain exactly what's bothering him. Don't just tune him out, either – listen. You can pick up some really valuable clues from the way a prospect phrases his objection.

2.       Say it Back to the Prospect.

 When you're absolutely sure the prospect is done talking, look thoughtful for a moment and then repeat back the gist of what he's said. Something like “I see, you're concerned about maintenance costs” is fine. This both shows that you were listening and gives him a chance to clarify. “Well, it's not so much the cost I'm worried about as the downtime.”

3.       Explore the Reasoning.

 Sometimes the first objections aren't the prospect's real concern. For example, many prospect don't want to admit that they don't have enough money to buy your product, so they'll raise a host of other objections instead. Before you launch into answering an objection, ask a few exploratory questions, like “Is product downtime a particular issue? Have you had trouble with it before?” Draw the prospect out a bit.

4.       Answer the Objection. 

Once you understand the objection completely, you can answer it. When a customer raises an objection, they're actually expressing fear. Your task at this point is to relieve their fears. If you have specific examples, such as a story from an existing customer or a few statistics, by all means present them – hard facts make your response stronger.

5.       Check Back with the Prospect. Take a moment to confirm that you've answered the prospect's objection fully. Usually this is as simple as saying, “Does that make sense?” or “Have I answered your concern?”

6.       Redirect the Conversation.

 Bring the prospect back into the flow of the appointment. If you're in the middle of your presentation when the prospect raises his objection, then once you've answered it quickly summarize what you'd been talking about before you move on. If you've finished your pitch, check if the prospect has any other objections, and then start closing the sale.

Mark of the Sales Champion: Anticipating Objections

 “Sounds wonderful. I'll take two million pieces  of whatever you're selling!”

Don't expect to hear these words during any sales presentation in the real world. In fact, what you will hear are objections like:

·         They're too expensive.

·         I never heard of your company.

·         I don't have time right now.

Ad infinitum. There are ideas on how to respond to objections during a sales call. However, before the presentation you should start to anticipate and respond to common sales objections. Sales Champions anticipate buyer objections and either answer them in advance or offer considered responses when they are presented. Understanding how a buyer thinks can help you build trust, a prime component of every transaction.

 People will buy something when they want it more than they want the money that it costs. All buyers are looking for value, the equal or greater worth in an exchange. Businesses buy because they trust that their purchase is of greater value to them than the price. They believe that they can turn a profit. The seller, too, sees the profit value of selling their products or services for money.

The key to answering sales objections is understanding what they truly are: questions. In most cases, objections are presented to ask you why the prospect should buy. It's often a delay tactic that prospects use because their questions and concerns haven't yet been answered. By anticipating common objections, you can answer them in your presentation even before they are asked.

Ø  Our products are less expensive than any other brand of similar quality.

Ø  XYZ ENTERPRISE  is a MARKET LEADER  with 25% of market share employing more than 1,000 people.

Ø  I can help you save more than  Rupees 25 lacs in the next hour by acting on my suggestions.

Planting responses to common objections within your sales presentation can diffuse the buyer's natural reluctance to make a decision.

An important aspect of preparing for your sales call is anticipating common objections of buyers and developing viable answers. If possible, make the case against the objection before it even develops in the buyer's mind. However, if the buyer does voice an objection, you should be ready with a well-thought-out answer. In fact, if a common objection isn't voiced by a buyer, smart sellers will bring it up.

·         As you consider your purchase, you may think that our products are too expensive. Let me respond to that …

·         I sometimes hear buyers ask to know more about our company. It's a good question. Our product  is …

Now make a list of the common objections your company's voice have them divided into three parts: The ones to anticipate and include in your sales presentation; the ones to be prepared with answers and the ones to ignore or refute tactfully or atleast  refere to your higher ups if they are true; asking for a genuine solution. 

 Best of luck

Dr Wilfred Monteiro

XXX Do you want to sell more, faster, and make your sales more profitable? LEARN FROM YOUR MISTAKES!

THE GREATEST MISTAKE OF SALES PEOPLE -

 NOT LEARNING FROM YOUR MISTAKES!

Time pressure and the need to get results quickly often mean we don’t take the time to examine our mistakes and learn lessons from them. But that’s where you lose most sales in the long term, and it’s also where your greatest potential for sales growth lies… Here are two live  examples:

1.    For example, ask your prospects who they chose to work with and why they didn’t take up your offers. That’ll teach you the art of better targeting. It’ll refine your sales pitch and correct a number of counter-productive attitudes that are working against you!

2.    Ask your customers why they’re going elsewhere / not renewing their orders. In doing so, you’ll learn your weak points and what you have to improve to increase customer loyalty and boost your orders!

You can even brainstorm and encourage your teams to analyse themselves constantly by answering the following questions:

·         What sales techniques, methods and strategies are currently winning us sales? Why?

·         What sales techniques, methods and strategies are not winning us sales? Why not?

By answering these questions, you’ll be able to capitalise on what works and leave behind what doesn’t, or attempt corrective action on it. That’s the key to improving performance in your sales process!

1. Avoiding face-to-face meetings

You're asking customers to invest a lot in your product or service. So, it stands to reason that you should go out of your way to meet them in person. Far too many salespeople actively avoid face-to-face meetings, instead opting to go through the sales process via phone calls and emails.

If you truly want to close more sales, you need to buy a plane ticket, get in your car, or hop on a train to meet with your prospects face-to-face.

2. Backing down on premium pricing

When you're dealing with tough customers, it can be tempting to back down on your prices. But when you lower your pricing, you undercut your value in the eyes of successful prospects. You're actually more likely to close big sales if you stand behind your premium pricing.

3. Only offering one-option proposals

If you've made it to the proposal stage of a B2B sales situation, that's a great sign. However, make sure you don't ruin the sale with a poorly conceived, one-option proposal. It's important to give your prospects at least three different options in every proposal.

Present an inexpensive option, a slightly pricier option, and a premium option. This approach gives your prospects context for each option and encourages most people to choose the higher-end solution--while discouraging them from shopping around for more options.

4. Not asking enough questions

This is one of the biggest mistakes salespeople make in B2B sales. If you don't take the time to ask about the company's challenges, goals, and frustrations, then you'll never be able to craft a compelling solution.Focus on asking deep-dive questions that get to the heart of what your prospect is dealing with--and how you can help. Don't stop asking until you truly understand what's going on in your prospect's business."What's the biggest challenge your business is facing right now?" and "What does this challenge cost your business in actual dollars?" The answers will give you tons of information about how to best solve your prospects' challenges, and what they're willing to invest in your solution.

CONCLUDING

Do you want to sell more, faster, and make your sales more profitable? If so, you need to know about three major mistakes most salespeople and companies make!Identify the leaks in your sales pipeline, and you can at last get the sales growth and results you deserve.

You know the future business potential in your line of work. It’s up to you to assess how much these three mistakes are costing you in lost sales, and how much time you’ll put into correcting them…

Best of luck

Dr Wilfred Monteiro

STRATEGIC SELLING : HIGHLIGHT YOUR DIRECT VALUE PROPOSITION

As a seller, you will never benefit if a prospect goes down a path that isn’t going to benefit them.

If businesses can't immediately recognize the value you bring, then they won't buy what you're selling. It's as simple as that. Show your prospects that you're creating value for them, up front.

Practice communicating your unique value proposition so you're ready to demonstrate your value in any selling situation. Keep practicing until you have a compelling, quick response for whenever someone asks you: "What do you bring to the table?"

 Become an Advocate: 

As a seller, you will never benefit if a prospect goes down a path that isn’t going to benefit them. We’ve talked a lot on this show about the need to truly listen to your buyer, and it’s true — you have to understand what factors they’re facing internally and externally, what deadlines they’re up against, and what investments they may have already made. Once you’ve done that, then you can align your resources from content to people to offer the best solution that’s unique to them.

Make Quality Touches: 

Who benefits from messages that are “just checking in?” If you said “nobody,” you’re right. Every outreach you make needs to provide value to your prospect. Think about how you can use business journals, social media, or another news platforms to encourage conversations and show that you’ve heard your buyer and understand their challenge. Do not mistake what I’m saying — by no means am I telling you to never go for the sale, I’m just telling you that, done right, building a relationship based on the value you add outside of your product can make a big difference.

Quit Focusing on the End Result: 

Building on both the previous takeaways, understand that I know you have a quota to hit. But, by always focusing on the end result, the thing you want most (a signed contract), you could be pushing your prospect farther and farther away. Start thinking about what is the best possible next step. Want to secure a meeting with the Vice President? Maybe you should talk to 2-3 of her direct reports first and learn what matters. Want to close the deal by end of quarter? Maybe you should have an alignment meeting to understand both the internal resources they’ll need and what other projects they’ll be working on at the same time.

CONCLUDING

For every champion there are hundreds of others with just as much – or more – pure talent who never rise above mediocrity. Champions reach the winner’s circle through work. Working to achieve meaningful goals is the most satisfying and rewarding way you can spend your time and energy.

To become successful, choose to be one of the few people willing to spend countless hours preparing for victory. Achievements do not come spontaneously; they must be rehearsed. You must practice being a champion before you can reap the honors high-performance living provides.

When you set challenging goals and discipline yourself to work toward them, you turn your desires and dreams into reality!

Target Selling : a patent way to conserve sales resources and improve productivity

target  selling 

versus

 spray gun PROSPECTING

The fulfillment of annual, quarterly and monthly sales targets, creates  pressure which can spill over onto sales teams as a whole, who have to find any number of effective techniques, strategies and sales methods. That’s where stress causes some of them to make a serious strategic error: trying to sell to everyone. The thinking behind this mistake goes like this:

if I prospect 10 leads, I’ll get one / two / three customers (depending on sales efficiency and the current conversion rate).To hit my monthly business targets, I need to find 10 customers. So if I prospect 100

Prospecting in this way often means forcing the sale (instead of assisting the customer towards purchasing). Many customers then find themselves with a product or solution they don’t need enough and won’t make full use of. They’ll be dissatisfied, and will run down the company’s reputation in one way or another, harming its future sales. 

The spray-gun prospecting approach earns you lots more “No”s and plenty of rude responses. And if you’re not mentally and emotionally strong enough to take it, your confidence and motivation will take a knock. The outcome: less energy, fewer sales opportunities and fewer sales.most prospects you come across will either not want the product, not be appropriate for the product, or not know the company well enough to commit themselves. 

Result: a waste of the financial and material resources that go into prospecting, but also of the time you have available (which is often at a premium) to achieve results. It’s vital to understand that “trying to sell to everyone by prospecting blind” isn’t the best strategy for generating business. Especially when you realise how easily Sales Intelligence lets us target the best prospects with cutting-edge techniques!

So why don’t you take the time to identify your ideal customer, so you can target them better? You’ll reduce your prospecting costs, the length of your sales cycle… and you’ll generate more satisfied customers, who will recommend you and help to strengthen your business in the long term.What could be better than that?

a strategic blunder any big ticket sales manager can do is not learning from mistakes

STRATEGIC SALES BLUNDER :

NOT LEARNING   FROM   MISTAKES

We all make mistakes when selling our product or service. Here are the most common sales mistakes people make. I have to admit I have made many of these mistakes, even though I have been teaching this stuff for almost a decade.

Sales Mistake # 1:

Allowing a prospect to lead the sales process. 

The best way to control the sales interaction is to ask questions. This is also the best way to learn whether or not your product or service meets the needs of your prospect. Quality questions that uncover specific issues, problems, or corporate objectives are essential in helping you establish yourself as an expert.

Sales Mistake # 2:

Not completing pre-meeting research. 

After several weeks of voice mail I finally connected with my prospect and scheduled a meeting. Unfortunately, I entered the meeting without first researching the company. Instead of presenting a solution to an existing problem, I spent the entire meeting learning fundamental information, which to senior executives, is a complete waste of their time. This approach is one of most common sales mistakes. Invest the time learning about your prospect before you call them and before you try to schedule a meeting.

Sales Mistake # 3: 

Talking too much. Too many sales people talk too much during the sales interaction. They espouse about their product, its features, their service and so on. When I first bought a water purifier for my home I recall speaking to a sales person who told me how long he had been in the business, how smart he was, how good his water purifiers were, etc. But this dialogue did nothing to convince me that I should buy from him. Instead, I left the store thinking that he did not care about my specific needs. A friend of mine is in the advertising business and often talks to prospects who initially request a quote. Instead of talking at great length about the ad agency’s experience and qualifications, he gets the potential client talking about her business. By doing this he is able to determine the most effective strategy for that prospect.

Sales Mistake # 4: 

Giving the prospect information that is irrelevant.

 When I worked in the corporate world I was subjected to countless presentations where the sales person shared information that was completely meaningless to me. I don’t care about your financial backing or who your clients are. Make the most of your presentation by telling me how I will benefit from your product or service until I know how your product or service relates to my specific situation.

Sales Mistake # 5: 

Not being prepared.

 I remember calling a prospect expecting to receive his voice mail. That meant I was completely unprepared when he answered the call himself. Instead of asking him a series of qualifying questions I simply responded to his questions, allowing him to control the sale. Unfortunately, I didn’t progress any further than that initial call. When you make a cold call or attend a meeting with a prospect it is critical that you are prepared. This means having all relevant information at your fingertips including; pricing, testimonials, samples, and a list of questions you need to ask. I suggest creating a checklist of the vital information you will need and reviewing this list before you make your call. You have exactly one opportunity to make a great first impression and you will not make it if you are not prepared.

Sales Mistake # 6: 

Neglecting to ask for the sale.

 If you sell a product or service, you have the obligation to ask the customer for a commitment, particularly if you have invested time assessing their needs and know that your product or service will solve a problem. Many people are concerned with coming across as pushy but as long as you ask for the sale in a non-threatening, confident manner, people will usually respond favorably.

Sales Mistake # 7: 

Failing to prospect. 

This is one of the most common mistakes independent business make. When business is good many people stop prospecting, thinking that the flow of business will continue. However, the most successful sales people prospect all the time. They schedule prospecting time in their agenda every week.

CONCLUSION

Even the most seasoned sales professional is a person in evolution. No matter how good you are you can be better. No matter how good you are the competition is getting smarter. Use a checklist to prepare your attitude, appearance, customer information, company and product information and the selling environment, so you can be at your best on every call. Study yourself, your product or service and your company to know what is working now. Reinforce the actions and tools, which are generating results. Learn from your successes as well as your failures. BEGIN TODAY ANEW