Did you know that your prospect makes three very distinct decisions in regards to your product or service? And, did you know that each one requires you to utilize different skill sets and approaches? That's right. And, because most sellers don't know this, they make fatal decisions that literally destroy their ability to win the business.
Why in the world would you want to propose a small order or project when you could get a big one? In today's risk-averse business environment, getting a big budget item approved can take forever -- especially with all the buy-in that you have to get. In fact, it may take so much work that your prospect just says, "It's not worth the effort."
Don't let that happen to you! First of all, talk to your prospect about the reality of the situation. Find out if they anticipate problems. If so, suggest to them that you do something to get started.
Are you involved in a complex sale with multiple decision makers? If so, they probably don't make decisions too often with regards to what you sell. When you're dealing with today's crazy-busy prospects, the decision itself can be overwhelming.
What an Alcatraz inmate taught me about sales.
Recently, while speaking at a conference in San Francisco, I took a side trip with my daughter to visit Alcatraz, the infamous, non-escapable prison in the middle of the bay.
By sheer luck, we arrived just in time to hear a special guest give a talk on his years as a former inmate. He told us about arriving as a brash, angry young man who blamed the world for everything that was wrong with his life. He'd mouth off to anyone he didn't like -- and that was just about everyone.
TMTQ -- Too Much, Too Quick. It's something we all have a tendency to do -- especially if we have a prospect who seems really interested in our product or service. Seriously -- think about what you do after you talk to someone who says, "I'm definitely interested. Send me some info." If you do it by email, I'll bet you send along at least three attachments. Or, maybe you send links to at least three places on your website.
If you sell to the corporate market, having a strong value proposition is critical. It helps you set up meetings with crazy-busy prospects. And, it helps them understand the value they get from changing from the status quo -- something they're loathe to do.
In my new Slideshare presentation, you'll discover how to craft powerful, customer-enticing value propositions that change everything.
How can you reduce the risk involved in making a change? I don't think that we, as sellers, understand just how much a factor that is. But let me give you a quick example. When I first started in business, I had a prospect from a big company who loved my proposal. Seriously. He said it was by far and away the best -- and that they'd decided to go with my competitor.
It's devastating when you lose a long-term customer to a competitor. It’s even worse when you’ve been there for them, consistently providing top-notch service for years. You feel betrayed by their lack of loyalty.
Plus, you’re ticked off at your own company too. You did everything possible, but they didn’t give you a good enough price to compete effectively. Or, your offering just wasn’t quite as good as your competitors.
Here’s the deal. You may be seriously deluding yourself about the reasons you lost the business.
Is relationship selling dead? It sure feels like it these days. Your prospects are quick to brush you off. They don't have time for chitchat. Shoot. Even your best customers don't seem to have time to meet anymore. They're crazy busy, struggling to survive in a frenetic workplace. The truth is, they don't need another relationship. They barely get to see their best friends anymore.
Recently I got an email from Ahmed that said, "Do you have anything on how to close sales? Getting into an account isn't a problem for me. But I get stuck after submitting a proposal.
"By this time, I've already sent them all our marketing materials and given them a demo. They seem interested. Then, after they get my proposal, nothing. What am I missing?"
I can't tell you how many times salespeople have asked me to help them get better at closing. However, despite what you think, it's not the real problem.