The sales interaction went well.  The prospect seems very interested, and you cannot see any objections.  However, you also cannot see any urgency, as the prospect feels they can wait.  You offer a price discount as an inducement, but still the prospect sees no reason to buy TODAY.  Below is a powerful and effective way to create a sense of urgency in your sales interactions. 

The Value of the Problem x Time = Urgency
One of the most effective ways to create a sense of urgency in the mind of the prospect is to help the prospect understand that the value and cost of their problem increases exponentially with time. 

First, you should be using a professional sales interaction that uncovers problems and exposes pain.  Then, as you uncover the prospect’s problems and pain, you need link them to the negative effects of time.

As an example, let’s imagine one of the benefits your product offers is that it helps clients save money on their heating costs.  As an educated professional, you know not to just push the benefits in a “show up and throw up” way; and instead, you turn it around to uncover the problems and pain first and then move on to solve the problems and pain with your solution.

If they will save money with your product, then they are losing money without it.  Due to the size of the plant and other factors, you calculate their losses to be approximately £40,000 a year.  During the sales interaction, you need to help the prospect visualise and relate the loss in terms of real money and daily costs. 

To tell the prospect that they can save £40,000 a year is one thing.  However, to help the prospect understand that they are spending; throwing away, right now, £166 every single day that they are open…is quite another. 

If your product costs £1,500, the prospect is going to spend more than the cost of your solution in less than ten days!

Link the cost and value of the problem to time, and help the prospect see that time truly is money.

Happy Selling

Sean

Sean McPheat
Bestselling Author, Sales Authority & Speaker On Modern Day Selling Methods 

MTD Sales Training

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You felt that it was a good presentation and that the entire sales interaction was on track. Then you present the price, and suddenly the prospect acts as if they just had a heart attack! What happened? A better question is, what do you do? Below are three important steps you should take when this situation occurs.

The Three DOs

#1. Do Start Over
The fact is that if the prospect is truly surprised by your pricing after you have had a complete sales interaction, then you really missed some fundamental and essential points in your presentation. When this happens, you have failed in one or all of the following areas:

• Uncovering the prospect’s problems and pain
• Exposing problems the prospect believes are real
• Conveying the importance of the problems
• Conveying the monetary loss the prospect is suffering
• Building the value of the problem and the solution

Understand that at this point, there is no such thing as answering objections. There are no valid objections to overcome because there is no valid offer. There is no legitimate offer because you never carried out a convincing presentation. All you can do now is try to go back and cover the things you missed. Just be honest…

“Whoa! Ms Prospect. If this offer seems out of line to you then I must have really missed something. Can I ask you a few questions?”

Then go over the problem-exposing questions, and value building points.

“Ms Prospect, was I able to show you that right now your drivers are spending at least 35% more in loading time?”

“Can you see how you are currently losing £722 ever day in the factory?”

Do not try to fix the problem. Go back and erase it.

#2. Ignore It
It is possible that the prospect is faking this apparent shock. A skilled business person will use such a tactic as a negotiating tool. If you are absolutely positive that the prospect is being less than honest with you, then continue on and close with confidence. Maintain the look and disposition that you are an experienced professional and aware of such tactics.

If however, you are not certain if the prospect is acting or not, then follow tip #1 first, followed by #2.

#3. Do Ask for Referrals and Leave
You may not have the time or permission to start over and ask questions, and ignoring the situation also may not work. Either you messed this up badly or the prospect just doesn’t get it. In either case, it is too late. There comes a time to learn from your mistakes and accept them.

A “shock” situation at the very end of the interaction is likely a failure of the entire sales process or indeed the way that you qualified this prospect in the first place. Instead of trying to put out the fire, it may be best to get out of the building!

Posting Oct 19, 2011: The Three DON’Ts
3 Ways NOT to Handle The Prospect Who Is Shocked By Your Price

Happy Selling

Sean

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

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The prospect shows up 30 or 45 minutes late for the meeting.  You do not have enough time to do a proper sales interaction and you feel the prospect has complete disrespect for your time.  What do you do?

In Part I and Part II of this article, we began to focus on the following solutions to use the prospect’s tardy incident to your advantage.   You can use one or all of these ideas that are applicable to your selling situation.

1. Use the incident to enlighten the prospect of the issue without making it an attack

2. Use the incident to insure a proper meeting as planned

3. Use the incident to set the next meeting

4. Use the incident to raise the value of you, your time and your products or services

Now continuing:

#3. Use the incident to set the next meeting
Now that you have confirmed that the allotted time for the meeting is still valid, use the opportunity to build the value of your time, your schedule and set the next appointment (if applicable) as well.  Remember, the prospect knows that he or she is the cause of any problem that may arise from the late meeting.  Use this to your advantage.  Here is an example:

“James, again, I appreciate your time here today and you will appreciate what I have to show you too.  Please give me just  a few seconds to double check my schedule on my next appointment.” (Pull out Pad, mobile phone or schedule)

“Yes. Even with travel time, it looks like I’ll make my next meeting in time.  By the way, seeing firsthand how tight your schedule is, while we are on the subject, why don’t we go ahead and take care of our follow-up meeting right now.  Let’s see…are you available next Friday, at this same time?”

Take advantage of the situation and go for it.

#4. Use the incident to raise the value of you, your time and your products or services
Once you have confirmed the allotted time for the meeting is still valid, inform the prospect as to why this is so important and build value at the same time.  Here is an example:

“That’s great that we still have a full 30 minutes.  You see, the information I have for you is important and will prove extremely valuable to you whether we do business or not.  As we do with everything and with all of our clients; we believe it is best to take our time, and do everything right the first time…don’t you agree?”

(Like with all of the “role plays” it’s not the words that are important it’s the message. You will want to adapt it to your own style)

You get the idea.

Executive Summary
In short, to handle the situation where the prospect is late and begins the relationship with a feeling of disrespect for you and your profession; don’t get upset, but don’t take it lying down either.

First, let the prospect know that you are a professional and your time is valuable, but do not make it an attack or a scolding.  Then, make sure you will have the time you need to do a proper job.  If necessary, use the moment to set up the next meeting. Continue to use the situation to raise the value and importance of what you do.

The final word – don’t forget that the people that you are likely to meet are very senior people. They have meetings that over-run and “crap” happens that may mean that they are running late for a genuine reason. Just remember to re-evaluate the objectives of the meeting and to make sure that you can get done what you need to get done in the remaining time you have available.

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.

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If you have been in the world of professional B2B selling for any length of time, then you have probably had that prospect who kept you waiting for 15, 20, 30 minutes or more.  It presents a very delicate and volatile situation.  You don’t want to kill the sale yet you have to maintain your dignity and self worth, in addition to your professional value.

In Part I of this article, we began to focus on the following solutions to use the prospect’s tardy incident to your advantage. You can use one or all of these ideas that are applicable to your selling situation.

1. Use the incident to enlighten the prospect of the issue without making it an attack

2. Use the incident to insure a proper meeting is planned

3. Use the incident to set the next meeting

4. Use the incident to raise the value of you, your time and your products or services

Now continuing:

#1. Use the incident to enlighten the prospect of the issue without making it an attack
#2. Use the incident to insure a proper meeting as planned
The first thing you need to do is immediately let the prospect know of the incident; yet remain on the same side.   Simultaneously, you want ensure you have the allotted time for the meeting.

Here is an example:
“James, I can see you’re really busy.  Since we’re behind schedule, will we still be able to have the full 30 minutes today as we agreed?”

Note two things in the example:

First, instead of, “Since YOU were late…”
It is, “Since WE are behind schedule…”

Remember to stay on the same side as the prospect. It is not so much that he was late, as it is that you BOTH now are behind schedule.

Second, note that instead of, “Do I still have time for MY 30 minute presentation?”
It is, “…will WE still have the full 30 minutes today as WE agreed?

Also, you need to stand firm even with a negative answer.  If your normal sales interaction requires an hour, you should not truncate it and try to rush through in 25 minutes.  Do not skip sales stages.  Do not look for a lay down sale.  Do not beg. Be  a professional.

If you impress and remain professional, even if you have a limited time, then you will normally find that they will be sincere in their apologies and will even offer to set up another meeting……sometimes even at your place!

What To Do When The Prospect Is Very Late For the Appointment: Part III
Posting October 7, 2011

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.

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You have set a solid appointment, and immediately sent an email verifying the meeting information.  You then followed up by confirming the appointment by telephone the day before. Finally, you arrive at the 10:00 a.m. appointment a proper 15 minutes early.  The receptionist informs you that she will notify the decision maker (DM) that you are there.

However, 10:00 comes and goes and you find yourself still waiting in the reception area.  By 10:15 you check with the receptionist who tells you that the DM knows you are waiting and must be running just a bit late.  10:20. 10:25. 10:30 and still nothing.  The DM finally appears over 40 minutes late.  What should you do?

Acknowledgment Equals Respect
For the prospect that comes out with sincere apologies like, “I am so sorry to keep you waiting.  We had an emergency…” you may just let it go as you both work together.  However, what of that prospect that shows obvious and total disrespect for your time?   What of that prospect who just says, “Ok, I’ll see you now…” Or the one who greets you without the slightest regard for what happened?

A Delicate and Volatile Situation
This is a very touchy predicament.  On one hand, you obviously do not want to anger the prospect or chance killing the sale.  On the other hand, you can not overlook what, at best may be evidence of a slip-shod, inconsiderate businessperson; but at worst, can demonstrate an improper, inappropriate and possibly deliberate disregard for you and your value as a person and a professional.

Do Nothing?
Again, in cases where the prospect shows some acknowledgement of the mishap, forgetting it may be the thing to do as you both work out a solution together.  However, understand that if a prospect views you in such low esteem to not offer some explanation, then it is unlikely that anything good will result from this relationship.  If the prospect sees no value in you or your time, how can he or she possibly see any value in what you do or sell?

If you allow a prospect to treat you like a low-level peddler, then that is exactly what you will be.  Should you close the sale, you can bet this prospect will haggle with you on price, demanding more for less, and will never be satisfied with your service.   Chances are this would be a nightmare client who constantly demands your time, complains about everything, pays little or nothing and will jump to your competitor the moment a slightly better offer comes along.

Be A Professional
You must take control of situations like this, letting the prospect know that you are a professional and that your time is valuable. It is imperative that the buyer view your time as important and expensive as it is.

What to Do
What you need to do in these situations is to use the incident to raise the value of your time and achieve your objective to move the sale forward.  You want to use the situation as a positive.  Below and continuing in the next two posts, I will give you an effective method to take control of the above situation and use it to your advantage!

Use the prospect’s tardy incident to your advantage.  Here are four ways to do this and you can use one or all of the ideas that fit your selling situation.

1. Use the incident to enlighten the prospect of the issue without making it an attack

2. Use the incident to insure a proper meeting as planned

3. Use the incident to set the next meeting

4. Use the incident to raise the value of you, your time and your products or services

What to Do When the Prospect Is Very Late For the Appointment: Part II
Posting October 6, 2011

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.

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You know the critical importance of Eye Contact.  Yes, eye contact plays a vital role in selling as in almost every other area of business and consumer life.  However, in professional sales, there are a few times when you do not want to have that direct eye-to-eye contact with the prospect. 

#1 – Demonstrating or Showing a Tangible Product

Whether it is a television, a piece of furniture, a car, a computer screen, a yacht or a jet plane, when you are showing or demonstrating a tangible product, your eyes should be focused on the product, not the prospect.  You should savour the item with your eyes.  As you show the prospect your product, your eyes should relish at the sight of the greatest thing the world has ever seen.  Gaze with loving amazement at your product and the prospect will do the same. 

When you concentrate on looking the prospect in the eyes while showing your product, it forces the prospect to look back at you, instead of the merchandise.  Of course, you often glance toward the prospect for confirmation and feedback.  However, concentrate your focus on the item and gaze upon it as if it is the greatest gift to humankind.  

#2 – Using a Presentation Book or Multi-Media

The reason you use a presentation book, pictures, or multi-media in a sales interaction is that the combination of stimuli delivers a more effective message.  It is the combination of the prospect hearing your voice in addition to seeing the words in black and white and seeing the pictures that give the presentation power.  During such sales interactions, of course you look the prospect in the eye on and off, but you want to look at the screen or the page to emphasize the main and most important points.  It is good to know your presentation so that you do not have to look at the screen or the pages.  However, when you look at the words, you also direct the prospect to look and digest those words. 

#3 – More Than One Sales Person in the Interaction

Whenever there is more than one sales person present during a sales interaction, it is crucial that only the sales person handling the interaction or actually speaking and dealing with the customer be the one who looks the customer in the eyes. 

This is a serious mistake many sales management teams make especially when training new sales representatives.  As an example, you have two sales people: one senior who is training the novice.  During the sale, the trainee should focus his or her eyes on the senior sales person and NOT the customer. 

When the trainee continually looks toward the prospect, it forces the prospect to look back at the trainee, consequently taking the focus away from the senior sales rep and the presentation.  In addition, the prospect is often looking for some reaction from the rookie who does not yet know exactly how to react. 

The trainee or other sales person in the interaction should gaze at the sales rep that is in control or speaking.  This will direct the prospect’s attention and eliminate unwarranted problems. 

In your sales interactions, use more than just eye contact—use eye control!

Happy Selling!

Sean

Sean McPheat
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…

Picture the scene…you have a really great product and your customers are very happy with the service you offer. You are presenting to a new prospective client and the call is going ok.

Suddenly your prospect comes up with a whole load of objections and switches off their interest. It’s as if they just tuned you out and are not listening to anything you say that might influence them.

What just happened? Well, imagine you’re driving your car with the radio tuned to your local radio station. As you leave your local area, what happens to the reception. Of course, it diminishes and you end up listening to a load of static and eventually have to retune or switch off.

Your prospect is going through the same routine. They are listening to their favourite radio station (how this product or service will make a real difference to them), and if you transmit on a different wavelength, they will tune out or switch off their listening mode.

What station are they tuned into? Everyone listens to WII f.m.

Now, before you start thinking about the games console and everything that goes with it, note that WII f.m. stands for ‘What’s in it for me?’

Yes, that’s the radio station everyone tunes into, mainly at a subconscious level. If the message being transmitted is weak, on a different wavelength or cannot be heard because of static, they are going to tune out or switch off.

In our scenario above, you might have been discussing something that was naturally important to you or highlighted something about your services that the customer didn’t think would benefit them; that is, they asked WII f.m. and didn’t get a transmission.

When that happens, they tune out, and the natural way to display that is to come up with objections. These can cause you to falter, stumble and transmit on a different wavelength.

What can you do in these circumstances? Well, firstly, try to determine what the customer is currently listening to. It may be his inner voice arguing with the facts you have just stated. Or their mind may be elsewhere, creating static that interferes with the message.

Whatever it is, try to understand the meaning behind the message. When you are clear on this meaning, you can transmit your answer on the same wavelength they are tuned into. E.g. if they are confused about the pricing structure, clarify what their needs are and identify what it is about the structure that makes them object. If there is room for maneuver, then see if you can explain it in ways that would tune into the station they are plugged into.

If you can, you stand more of a chance of transmitting information on the wavelength you prospect can tune into. If you remember they will always be listening out for WII f.m. you can structure your presentation in a way that will impress them and motivate them to move forward.

Always ask yourself…am I transmitting my message in a form that my client will pick up on? If so, how do I keep it there? Have I done enough homework to understand exactly what motivates my prospect?

Being aware of what drives your prospect’s decision-making process will help you present your message in the right way, and will answer the question WII f.m.

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.

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When you have found out precisely what the client is wanting in terms of solutions to their problems, you have earned the right to present those solutions. And much of what you say comes down to demonstrating the viability of your product to serve the needs of the client.

So many presentations I have seen fall short of what I consider the baseline for this most vital stage of the sales process. Many salespeople think the product will sell itself or they don’t plan enough to become flexible to the needs of the specific client, and so the presentation becomes a boring list of features that were obviously given to the last prospect and the one before that and the ….. etc.

So, here’s a list of things you should do and things you should steer clear of in order to make your product presentation come alive:

Firstly, don’t do these…

Don’t highlight too many features that the prospect hasn’t expressed an interest in: You will know these from your analysis of the REAL needs of the prospect

Don’t demeonstrate your product to people who don’t have the need or the decision-making authority: It’s a waste of your time and if they need to sell that onto others, they won’t be able to answer questions the way you will be able to.

Don’t drown the person in jargon: Even if the propsect is tech-savvy, ensure tyhey have a clear understanding of what you’re refering to. Their acronyms may be different to yours!

Now to the things you should be doing!

Do use the product to back up the claims you have made earlier: It should prove that what you have demonstrated will achieve their goals.

Do create an atmosphere of decision-making: This means that everything you demonstrate should aid the prospect to see how buying it will make their lives easier, richer, more productive, less costly, or whatever their buying decision is based on.

Do have a sequence or flow for the demonstration, and make it pertinent to their business: If it’s a scripted demo, the prospect will immediately see through it and you’ll lose credibility.

Do employ ‘Murphy’s Law’, which states that if it can go wrong, it probably will: Have back-ups to support your message. What if your laptop dies, or the bulb goes out, what if…what if…you get the picture.

Do demonstrate how the product will affect their business for the better: If there are things the product will do that will assist them in getting closer to their overall goals, get those out on the table and get the prospect to agree on how they will help.

You need to identify what value the product will offer to this specific user. If you can personalise your offering to make their business or lives better, they are more likely to pay attention and see the benefits you are offering.

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.

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Presenting the solution to a client’s needs is often the most interesting part of the sales process, especially for the sales person, because they are talking about their products, their services and they’re on home ground.

And it’s mainly because they are presenting that common mistakes are made, eroding the confidence of the prospect in not only the product but also the salesperson themselves.

I’ve come across many mistakes made during this part of the process, and I’ve listed five of them here:

1) Presenting too early. If you went into a doctor’s surgery and he immediately summed up what was wrong with you simply by looking at you, and he gave you a prescription as a solution for your illness, how would you feel? Well, if you present a solution to your customer without digging deep into the challenges they are facing, you’re doing exactly what that doctor does. You’re prescribing before diagnosis. Remember, don’t present a single solution until you’re sure what the problem is, and the only way you can do that is by asking appropriate questions.

2) Not linking your solution in with the customer’s challenges. I remember a double-glazing salesman presenting his product to me once. He spent over 20 minutes going through the product and its features without asking me once whether this was the appropriate product for me. You need to identify the challenges your customer is facing and then determine how you can solve it, by linking the solution with the problem.

3) You concentrate too much on features and benefits, without making it clear how those will help the client. If the customer has to do all the work to determine how the product and
service will benefit their business, they won’t always see the value clearly. Only talk about the product in terms that will add value to the client.

4) You don’t talk about how the product will change the future for the client. If you simply talk about how good the product is and concentrate on that, most customers will switch off. Instead you need to paint a picture of what will be different for the client in the future while using your products. Without that vision, you’re selling purely a commodity.

5) You don’t prepare for possible objections. You’ve heard them all before, but many salespeople act as if it’s the first time they have heard the particular objection. Prepare a number of ways of dealing with objections and actually bring up the ones the client might likely use while giving your presentation. And answer it along the way.

An example might be:

“Now, Mr Prospect, you’ve probably seen in your research that we are a bit more expensive than some of our competitor products. We’ve built these to highly exacting standards that means we can give a five-year guarantee with ours, where the competition only offer three years.

We have so much confidence in it and that allows us to beat the competition in that area. Hence the reason why we sell a premium product at a premium price. We decided to do that five years ago and it’s proven to be the right choice”.

That way, you cover your price differential before the customer brings it up.

So those are just five of the mistakes I’ve seen in many presentations. If you can avoid them, you are doing yourself a favour and improving your chances of success.

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.

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If you listen and look carefully to what the prospect is saying, there is no need to depend on tricks or closing techniques to get them to agree to the order.

When you’re giving your presentation, your prospect will give signals or signs to communicate, sometimes subconsciously, that they are ready to move on to the commitment stage.

Here are some examples of what they say that will signal their desire to buy:

1) They will ask specific questions about price, or discounts, or rates; Why would they enquire about the investment they have to make if they are not interested?

2) They question your delivery schedule; This shows they are already thinking about using it

3) They question your stock availability; They’re already convinced it will work for them

4) They want to go over something you said earlier; This shows they were mulling it over

5) They tell you about problems with current or previous suppliers; They are sending subliminal messages that they don’t want that to happen again with you

6) They ask questions about specific features or options; Again, they’re thinking of how they are going to use it.

7) They ask questions about quality; Ditto

8 ) They want to know about guarantees or warranties; They want confirmation for security

9) They ask specific questions about its workability; They are thinking of using it

10) They ask specific questions about owning the product or service; They are considering it already bought

11) They ask for a reference; They just need confirmation to make them feel secure

12) They ask if they can speak to existing customers; Again, a security question, which will be easy to answer if the product is as good as you say it is

13) They ask to see a demonstration; If they weren’t interested, why would they waste their time?

14) They send positive buying signals; Things like ‘that’s interesting’, ‘that sounds like what we want’, ‘that sounds good value for money’.

15) They say positive things about you or your company; Those positive signals mean they have faith, respect and trust in you

Your job is to recognise these signals and make it easy for the prospect to go onto the next stage without forcing or pressurising. A natural conversational statement about what needs to happen next is the best way forward and should assist the prospect in identifying you as their next supplier.

Happy Selling!

Sean

ean 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…