Written by Sean McPheat |
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.
Originally published: 3 November, 2011
Search For More