How often do you sit down and really plan ahead? Every day? Every week? Sometimes?

Planning ahead can really set you apart from other salespeople as it offers a glimpse of a created future. But there’s a way of planning that you may not have focused on before, and it will get you great results.

Most people tend to focus on planning forwards; that is, they make a to-do list of actions they need to take to reach their goals. However, seldom does this allow you to have a structured route, with items in the right order at the right time. And it always focuses on actions.

Planning backwards, on the other hand, provides the structure you need to help you get things done in the right order and the right time, as it focuses on results.

Steven Covey, of Seven Habits fame, speaks of ‘beginning with the end in mind’. And that’s what planning backwards allows you to do.

For example, let’s say you’ve got a specific goal to hit a target within one month.

Instead of looking forward at what you need to accomplish this week, the week after and so on, start with the target in mind and work backwards, dividing it into smaller goals.

Set milestones at strategic points in the month so that you know you’re on target.

These are your goals that you are focusing on.

When you’ve achieved these results, you can concentrate on going forward with specific actions. It helps you see the big picture, and the map you are using develops your motivation because you can see what you are needing to achieve before you set off on the  route.

It creates a forward momentum towards results, allowing you to choose your actions and adapt if things aren’t going to plan. That navigation system in your mind will keep you on track as you concentrate on results rather than just actions.

Happy Selling!

Sean

Sean McPheat
The UK’s #1 Authority On Modern Day Selling
MTD Sales Training

Have you downloaded my latest report “The Sales Person’s Crisis”? Over 10,000 sales pros have.

Click on the image below to find out why you’re very existence as a sales person is in doubt…

Oscar Wilde was quoted as saying “A cynic is someone who knows the price of everything and the value of nothing”.

You may be forgiven for thinking that most of your prospects, according to Oscar, are therefore cynics! It may appear that the majority of your objections these days revolve around the price issue. Yet many prospects will say they are looking for value. What’s the difference, and how can you deal with it effectively?

Let’s define ‘value’. The first thing to remember is that value comes from what your product does, not what it is. Value is an outcome, and understanding your buyer’s perspective helps you form a solution to maximise the value in their eyes.

Price is different. Price is the actual number that is at the bottom of the invoice. Price is what customers spend; value is what they receive. Price is the buyer’s input; value has longer-term impact.  When the outcome exceeds the effort the buyer has to put in, the solution you provide has high value to them.

Value, then, asks the prospect to weigh up the cost-benefits of dealing with you.  They ask  ‘Is your product a fair exchange for the energy, time and money I have to input to get it?’

When people are questioning the price, there is a perceived lack of equity in the exchange; that is, they feel they are giving more than they are receiving, in some way.

When your prospect is purely focusing on price, they delete everything else, including the cost of ownership, maintenance, usage and other elements of the solution you are putting forward. People who focus on value look beyond the short-term, viewing the results of the aquisition far beyond the bottom-line price.

So how can you get your prospects to look beyond up-front price and concentrate on the value of your product?

Ask questions like these:

‘What would our solution/product/service enable you to do tomorrow that you couldn’t do yesterday?’

‘What problems would you be able to solve with our product that you couldn’t solve without it?’

‘What new opportunities could you follow with us that you couldn’t without us?’

These kind of questions get your prospect to focus on the difference between price and value. The prospect has to think about the long-term benefits of dealing with you rather than just highlighting the price differentials. They look at the purchase as it affects them from A to Z.

So you must understand the impact of the value you offer on your prospect and the fact that the real outcome for them is their investment in and implementation of your solution. In other words, what will have the greatest impact on your customer – the cheapest price or the best value?

Happy selling!

Sean

Sean McPheat
The UK’s #1 Authority On Modern Day Selling
MTD Sales Training

Have you downloaded my latest report “The Sales Person’s Crisis”? Over 10,000 sales pros have.

Click on the image below to find out why you’re very existence as a sales person is in doubt…

Many times, when your prospect has had a chance to think about your offer, they come up with observations and comments that stall the progress of the sale. For whatever reason, they are yet to be convinced that you have the answer to their problems.

In response to this, many salespeople use a familiar tactic that they’ve heard about, convinced of it’s ability to overcome any objection.

It’s become known as the Feel, Felt, Found method, because those are the words used to convince the prospect that others have been successful in using their services.

It goes something like this:

Prospect: “It looks expensive to me; I’m not sure we want to pay that much”

You: “Yes, I understand how you must feel, Mr Prospect. In fact, other clients of mine have sometimes felt the same way. When they started using our widgets, though, they found that we actually saved them money on stocking costs and increased profitability”

You’ll notice the occasions that Feel, Felt and Found were used in the reply. This standard reply asks the prospect to believe the as-yet unseen testimonials of current clients.

It doesn’t, however, address the real objection the prospect has brought up. How, for instance, do the ‘other clients’ compare with their own organisation? Were the needs the same? Were their operations working with the same overheads and challenges that this prospect’s company were facing?

In other words, the Feel, Felt, Found method can easily cause more objections to come up in the prospect’s mind.

Don’t get me wrong, this method has its place in your dialogue with the client, but our advice is to use it sparingly. Customers are very savvy today and have probably heard this response many, many times, which makes it stand out as a standard reply, and one to be wary of.

A better response to this question of expense would be to probe deeper as to the meaning of the objection. Has the client only taken into consideration the up-front investment? Is the prospect comparing like with like? Would you be able to reduce his running costs over a period of time that would actually save money in the long run?

It’s better to clarify the real meaning of the objection before trying to prove him wrong by sharing what other companies have experienced. When you’ve checked through the real reasons for the prospect’s worries, then you might be in a position to share how others have benefited from your products and services.

Happy Selling!

Sean

Sean McPheat
The UK’s #1 Authority On Modern Day Selling
MTD Sales Training

Have you downloaded my latest report “The Sales Person’s Crisis”? Over 10,000 sales pros have.

Click on the image below to find out why you’re very existence as a sales person is in doubt…

What if your prospect isn’t the end-user?

As a B2B sales professional, it often happens that the buyer, the person actually making the final decision, will not be the end user of your product or services. And yet they have to make decisions that the end-users have to live with for months, even years.

It’s important to know how your products are used so you can sell them most effectively.

Often, the buyer will have an idea of what the end users are looking for, but their buying criteria (the basis on which they judge the suitability of the product) may be on a different level to the end users. And it’s these end-users who can give you important information that can lead to the sale.

Let’s say you’re selling photocopiers, and you’re targeting a firm that you know would benefit from your products. You could concentrate simply on the buyer, asking them questions about what they want in a photocopier.

Or you could contact some of the office staff who actually use it every day, and ask what they like best about their current model and what they like least. Ask them if there is anything they would like to change about the model, if they could.

This information would give you a different perspective on the sale. It would give you the ability to discuss user needs and wants, ideas that the buyer may not have considered. Naturally, you have to be aware of the political and logistical aspects of this, but it may show the prospective buyer that you have done your homework and will show her how to look good in her end-user’s eyes.

It also gives you hands-on experience of what users are really looking for from your products and services. You can then pass on this very valuable information to your prospect, as it may be that she hasn’t asked the end users for their views. This way, you’re helping to facilitate the buying process. That can only result in progress in the sale.

Happy Selling!

Sean

Sean McPheat
The UK’s #1 Authority On Modern Day Selling
MTD Sales Training

Have you downloaded my latest report “The Sales Person’s Crisis”? Over 10,000 sales pros have.

Click on the image below to find out why you’re very existence as a sales person is in doubt…

Have you received sales letters in your in-tray? What happens to most of them? After a quick scan, unless they are offering something that will change your life right now with absolutely no effort or risk on your part, they are filed under ‘B’ (for ‘bin’).

By the way, you probably wouldn’t believe a claim like that anyway, so you’d probably bin that too!

Sales letters are generally poor because they are too product or self-focused and they don’t create any differences from your competition.

Here are some guidelines that might make your letters stand out from others your prospects will be receiving:

• Make sure your opening is attention-grabbing and purposeful
• Keep the letter short
• Use bullets – it makes the letter seem shorter and more punchy
• Only bold those things that are important to the customer
• Personalise it where you can
• Do something extra – enclose an article of interest or something that proves to your prospect you went a little bit further than others
• Use an example – not a testimonial. An example is how a customer benefited from your product
• Finish by stating the next step – e.g. ‘thank you for your time. I’ll call you next week to discuss further’. That way, you have a reason to call, the call isn’t cold and you can tell the gatekeeper the prospect is expecting your call (which she is, if you said you would call)
• Re-read your letter and edit it down substantially before sending it
• If possible, stamp them rather than frank them. They appear more personal
• Ask yourself how you would react if you received this letter. If it’s too cheesy, too patronising or too groveling, consider rewriting it

By creating a letter that grabs attention, creates rapport and builds confidence, you have great reasons for expecting results and leads.

Happy Selling!

Sean

Sean McPheat
The UK’s #1 Authority On Modern Day Selling
MTD Sales Training

Have you downloaded my latest report “The Sales Person’s Crisis”? Over 10,000 sales pros have.

Click on the image below to find out why you’re very existence as a sales person is in doubt…

It matters not how good your product or service if you are unable to get the customer interested in it. You need to create that interest by grabbing the prospect’s attention and convincing them that the best use of their time right now is being with you.

You can do this by designing a series of powerful, hard-hitting statements that will persuade and motivate the prospect to take action.

Notice what happens when you read this next statement:

African elephants are wandering majestically through the trees, as the sun burns down from a cloudless sky.

Now, what went through your mind then? If, like most people, you created a picture in your mind, you have experienced the result of a powerful statement. It’s designed to paint pictures in a person’s mind, giving them an opportunity to see things as they could be, rather than as they are.

So your powerful statements should contain a selection of words that will make the prospect look for more.

So what’s the purpose of these statements?

Well, they make the prospect think about what you do in ways that they can benefit. They create a clear distinction between you and your competition. They make the customer want to hear more about you and your products. And they give them a clear reason to buy from you.

Think of the products you sell. Then think of what the prospect will be able to do if they used your product. For instance, people don’t buy cars…they buy the prestige, status, comfort, convenience and economy that the car will offer. People don’t buy IT services…they buy the security and peace of mind that the back-up services will give them and their business.

Therefore, your statements should highlight why the prospect should spend time with you. They should generate attention, awareness and curiosity to hear more.

For example, when someone asks me what I do, I could say “we provide training, coaching and consultancy for businesses, small and large”. Yawn! So do thousands of others!

A more powerful statement would be something like, “We design bespoke programmes for businesses that hit right at the heart of current issues and help them grab business opportunities that they didn’t know existed”.

Now, if your mind-set was open to developing your staff and you needed some help in doing so, would a statement like that at least pique your interest? Would you have a picture in your mind of your own issues and feel that you would want to know more detail?

That’s the value of these powerful opening statements.

Your job is to create at least six of these statements that can be used with prospects to develop relationships that will prove fruitful for both parties in the future.

Happy Selling

Sean

Sean McPheat
The UK’s #1 Authority On Modern Day Selling
MTD Sales Training

Have you downloaded my latest report “The Sales Person’s Crisis”? Over 10,000 sales pros have.

Click on the image below to find out why you’re very existence as a sales person is in doubt…

We often get sales people on our courses who have been employed for some time and have picked up some, erm, shall we say, ‘interesting’ habits! They may have been quite successful some time ago, but they have peaked or plateaued, and they want to go on to the next level.

Thousands of salespeople have downloaded my ‘Sales Person’s Crisis’ report (if you haven’t got yours yet, pick it up below), and have recognised there is a big difference between what salespeople did a few years ago and what the successful ones do today. One vital point in the report is that you have to change your mindset if you are going to improve your sales, because the buyer who was around a few years ago isn’t there anymore.

Here are some home truths to reckon with in 2010;

False: People buy because of intellectual and logical reasons like price, quality and service

Truth: People buy based on emotional needs (the what) and wants (the why)

False: It’s the salesperson’s job to get the prospect to buy

Truth: Your intent should be to solve problems or open up opportunities

False: Your persuasion techniques and convincing arguments will get the sale

Truth: It’s friendly, intelligent engagement that will convince the prospect they should talk to you

False: Enthusiasm sells

Truth: Enthusiasm helps, but what is more important is total concern in your prospect’s life and business

False: Relationships sell

Truth: Relationships help, but only if the prospect values what we offer, and if they trust us to solve their problems

By identifying what the buyer’s mind-set is today, we give ourselves the chance to approach the sale with greater confidence because we see things from their perspective.

These home truths will be discussed in more detail in future blogs. In the meantime, be aware of what these truths mean to you and your business

Happy Selling!

Sean

Sean McPheat
The UK’s #1 Authority On Modern Day Selling
MTD Sales Training

Have you downloaded my latest report “The Sales Person’s Crisis”? Over 10,000 sales pros have.

Click on the image below to find out why you’re very existence as a sales person is in doubt…

You know that your products and services are better than your competition. You’ve checked them out and done your homework. You’ve seen off many competitors and they’ve bitten the dust in your wake. So why on earth would customers still use them instead of you? Unbelievable, yeah?

Well, looking at it from the customer’s perspective, they obviously had a very good reason for choosing them in the first place. And it’s your job to find out those reasons so you can identify the best way to assist your customer in seeing the light and finally jumping ship to the safe harbours of being your partner!

And this is said only half tongue-in-cheek. If you know your customer would be better off with you rather than a competitor, you have to be able to convince them to convince themselves. Your sales talk about your new widget will fall on deaf ears unless you create a feeling of discomfort with their current situation first. When you are selling against competition, you need to know how your customer thinks.

So, find out what criteria your prospect uses in choosing their supplier. When you know what’s important, start exploring to what degree his expectations and needs are being met, based on those criteria.

Here are some example questions:

“How does your ideal situation compare with your current situation?”

“When you originally started working with ABC Ltd, what were your selection criteria? Have they changed over the time you’ve used them? What would you like to see in the future?”

“How would you rate your current relationship with them, from 0-10? What would have to happen for it to be a higher score?”

“In what ways could ABC Ltd align themselves more with your goals?”

These and similar questions will help you identify niches you could find that could be filled by your products and services. You’re getting the customer to see chinks in the armour that could be fixed by what you have to offer. And then they’ll be grateful you helped them save money, serve their customers better and become more profitable. Another satisfied customer!

Happy selling!

Sean

Sean McPheat
The UK’s #1 Authority On Modern Day Selling
MTD Sales Training

Have you downloaded my latest report “The Sales Person’s Crisis”? Over 10,000 sales pros have.

Click on the image below to find out why you’re very existence as a sales person is in doubt…

Today, more than ever before, customers are looking at price as a key denominator in the criteria they use to judge the effectiveness of your offer. But many prospects are still hung-up on price and forget the cost justification to themselves or their managers. This element of buying criteria is influential but not overwhelming when it comes to progressing the sale.

A positive interaction with the prospect when the price issue is raised is one way to persuade them that they will be losing out by not using you. They will not be expecting you to have a point of agreement when they provide an objection, so find some elements of their statements you can agree with.

Then ask a question or two to delve deep into the thinking process the customer is using. This helps you clarify the processes they are using to ascertain their supplier; a great piece of information if you don’t know it already.

Here’s an example:

Prospect: “Sorry, your price is too high”

You: “OK, Mr Prospect, I understand that money is an important issue to you. Can you tell me what criteria you use when choosing a supplier?”

This helps you determine how he makes the choice. Rarely will he say he always goes for the cheapest. There’s often something else that will motivate his decision-making process.

Here’s another:

Prospect: “ABC Ltd has offered the same deal for 7.5% less than you”

You “So obviously getting the best value is really important to you. May I ask, how important is price compared to quality (or service or on-time delivery or something that you do better)? How do you judge potential suppliers for evaluation purposes?

What’s most important – the cheapest price or the lowest total cost? If our product could give you an X% ROI, would price still be an issue?”

Of course, you would only ask the most appropriate of these questions. Each time, you pre-frame the questions with a statement of agreement. This helps you form a good rapport with the prospect as you are now facing the situation with the same point of view, as both of you agree.

And another example concerning budget:

Prospect: “We have no budget for this”

You: “Naturally, managing finances is vital, but may I ask a question? What will it take to secure funds so that that you no longer have to experience the problem you have? How important an investment is this now? How much might you be losing if you wait until the new budget is available? Is there a way you can use a different budget to take advantage of this opportunity now?”

Again, use only the most appropriate questions.

These processes rely on you constructing great questions to meet the price issue. Then actively listen to the customer to determine their key drivers. After that, you can assist them to see how the value of your product outweighs the initial price. All that’s left then is for you to pave the way to the sale.

Remember: if the prospect perceives the price is too high, it’s reality to them. Get them to identify a different image and you persuade them it’s in their best interests to decide on you and your products.

Happy Selling!

Sean

Sean McPheat
The UK’s #1 Authority On Modern Day Selling
MTD Sales Training

Have you downloaded my latest report “The Sales Person’s Crisis”? Over 10,000 sales pros have.

Click on the image below to find out why you’re very existence as a sales person is in doubt…

Often, people will prepare their positions effectively before going into a negotiation, but find that they haven’t determined adequately enough what the other party’s perspective will be, and so create problems for themselves in the process.

Here are some strong negotiating skills that will help you progress quickly and effectively through the process:

Make sure you keep the person and the negotiating situation separate in your mind. Remember that everyone will have a different perception of the situation, according to their viewpoint. Discuss these differences in relation to how the negotiation is going.

Understand the reasons why the other party are taking the position that they are. Request reasons why they are taking that position, if you feel it needs explaining. This gives you a clearer picture of their rationale in taking their position.

Listen very carefully to their situation and view them as a partner in problem-solving, rather than an adversary who must be beaten. Recap on their position, and get full clarity by paraphrasing or summarising their ideas in full, so they see you can understand their position.

Point out the concerns, problems or frustrations you see from your perspective. This will allow the other party to recognise why their position has to be negotiable.

Don’t assume there is only one solution to any negotiation. If they are wanting a price reduction, for instance, maybe you can negotiate on payment terms or discount for further agreed orders, rather than just concentrating on price.

Think of your BATNA, or best alternative to a negotiated agreement. Is there something else you might be able to agree to rather than achieving a stalemate in the process?

Again, if they want a change in the parameters of the negotiation, find out the reasons, rather than just going down the line of least resistance.

All movement should be a trade, rather than a concession. If the other party sees you simply giving way on positions, they may try for more movement, and you may end up in a lose-win position. 

Be prepared to walk away from the negotiation if it is clear you cannot match their demands. It is better to stop, re-assess the situation and return later than be drawn into giving away more than you had prepared for.

If a negotiated agreement is reached, ensure you summarise and recap on the positions and interests that have been reached, and put all agreements in writing, so there is no ambiguity in what you have decided.

These strong negotiating skills  should help you to achieve your goals and give you confidence in any situation where needs and wants are seen differently from both sides.

Happy Selling!

Sean

Sean McPheat
The UK’s #1 Authority On Modern Day Selling
MTD Sales Training

Have you downloaded my latest report “The Sales Person’s Crisis”? Over 10,000 sales pros have.

Click on the image below to find out why you’re very existence as a sales person is in doubt…