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Use Voicemail to Your Advantage in Prospecting
Posted by: In: Sales Coaching, Sales Executives, Sales Managers, Sales Training, Salespeople, Uncategorized 26 Oct 2023 0 comments Tags: , , , , , , , ,
VoicemailWhen prospecting, don’t miss an opportunity to use voicemail to deliver your value message.

Are you frustrated constantly by trying to connect to buyers when prospecting and getting their voicemail? I hear this complaint from many of our clients.

Times have changed. In the early 90’s before voicemail was ubiquitous, studies showed that one business person attempting to contact another business person would get through 22% of the time. Sounds low doesn’t it? But it gets worse. Spurred on by the pandemic, the work-from-home trend makes getting people at their desk next to impossible and today’s stats are more like 10% or even less. That means that 9 out of 10 times, you’re going to get voicemail when doing cold prospecting.

What I find crazy is how many salespeople don’t leave a voicemail when they’re calling a buyer.  By not leaving a message, they are missing a great opportunity!

Instead of looking at this marvel of communication engineering as being your enemy, it can be your friend – at least in the short term. Before you say I’ve lost my selling marbles, let me explain. How many of you can convey a compelling description of your product’s benefits and features in 30 words or less?  Some of you may be able but wouldn’t it be nice if you had a full minute? Of course it would.  A good prospecting voicemail can do just that for you.

There’s a big difference between getting a prospect on the phone right off the bat and being able to leave a voicemail message first.   I far prefer to leave a carefully crafted, practiced, voicemail message as my first voice contact with a prospective customer. You can’t get cut off, you can build some “personality” and trust and with many systems, you also have the added benefit of erasing it and doing it again if you screw up. Be careful to leave the message as best you possibly can and finish before trying to erase it though in case you can’t!

Just like in advertising, multiple impressions are often required before a message registers with someone.  Each time your buyer hears what’s possibly “in it for him” to have a conversation with you, it helps strengthen your case.

Obviously you eventually want to connect in real time with the prospect and there are specific techniques to drastically increase your chances when the time is right but that will have to wait for a future post.

Using voicemail to your advantage is part of Northbound’s “Connecting to the Big Cheese” workshop.  To arrange a complimentary condensed version of the workshop for your team, contact Michael Caron @ [email protected] or 416.456.1440.

The Kids Are Back At School. Are You Ready to Learn Too?
Posted by: In: Sales Coaching, Sales Executives, Sales Managers, Sales Training, Salespeople, Training 07 Sep 2023 0 comments Tags: , , , , , , ,

We’ve all spent a big chunk of our life in formal learning environments, most commonly called schools! Over the course of a decade or two, we acquired a tremendous amount of knowledge — some of it useful, most of it not. Unfortunately, once we enter the working era of our life, our rate of knowledge acquisition falls off. This makes sense in that we are now expected to use this knowledge. But the really successful people in all walks of life never stop learning.

In training thousands of salespeople over the years, I’ve clearly seen that top performers are actually more open to learning new skills than average performers. How ironic!

There are 5 phases to learning. Take a look at the list and ask yourself, “What can I do to apply all 5 phases to a new selling skill?”

The Five Phases of Learning

Phase 1 — Commit to learn

  • The learner must be motivated to learn and to change his or her

behaviour. During the central training experience, learning activities and media illustrate

how new skills, knowledge, and attitudes help learners address job-related issues and

achieve job-related goals. This phase succeeds when learners open themselves to new

possibilities and resolve to master and apply essential interpersonal skills.

Phase 2 — Assess current performance.

  • A carefully crafted survey helps learners measure current

levels of knowledge and application of a key interpersonal skill. Recognizing their

own performance gaps further motivates learners and helps them focus effort in areas

for improvement. Post-training assessments measure recollection of training content

and skill use in the workplace.

Phase 3 — Acquire knowledge. 

  • Learners encounter the cognitive details of a distinct interpersonal

skill through presentation, reading, discussion, observation and analysis of realistic

examples, simulations, and other activities. Typical content includes environmental

cues that prompt skill use; a sequence of behavioural steps; relevant terms; examples of

use and absence of use; and tips, tactics, and pitfalls for each step.

Phase 4 — Develop competence through practice. 

  • The training of interpersonal skills requires

rehearsing with humans—the intended audience for the new skills—in order to achieve

competency. This real-time practice with another human being, whether face-to-face,

voice-to-voice or online, is essential to soft-skill mastery. In a safe setting, learners

rehearse the skill, receive constructive feedback, observe others using the skill and

offer constructive feedback. The goal of this is to develop baseline competence and

build confidence.

Phase 5 — Apply new learning. 

  • Integrating new skills into job interactions requires commitment.

A range of activities—discussions, testimonials, printable online planners, and others—

give learners the clarity and resolve to apply their knowledge and skills. Managers

of trainees can also reinforce and sustain skill application through coaching, recognition

of skill use and modelling the skills. 

6 Strategies to Negotiating Successful Sales
Posted by: In: Negotiation, Sales Training, Salespeople, Training, Uncategorized 28 Jun 2023 0 comments Tags: , , , , , , ,

Joined in businessAn Unpleasant but Often Necessary Part of Selling

Contrary to what some think, negotiating isn’t something that only takes place at the end of the selling process. We are actually negotiating and laying the groundwork for further negotiations throughout the sale. When the customer has agreed that your solution fits with their needs but there is not agreement on variables such as delivery, terms and, of course price, good negotiating skills will bring the sale to successful completion. Here are 6 essentials.

1. Plan – Never go into a negotiation without a plan. Do your homework. What do you know about the individual you are negotiating with? What is their personality style? How can you adjust your style to be more effective with them? What information do you want to disclose or keep confidential? What is the time frame for this negotiation? Go through some of the other points below and write this information down.

2. Have a collaboration mindset – Most negotiations involve parties with which you want to have a long term, mutually profitable relationship with. You will only be able to protect and nurture this relationship if an agreement is reached that is truly win win. Enter the negotiation with this in mind and test the commitment of the other party to a win win, collaborative solution. If both parties agree that an agreement will be easier to reach if creativity, openness and collaboration prevail, the negotiation will have a much greater chance of delivering a successful deal.

3. Make a concession list – make a list of all the things that you could give up and all the things they could give up. Then put two columns beside each, one for cost and the for value. By doing this, you will be better able to give up concessions that cost you little (but have high value to the customer) while accepting concessions in return that have high value to you.

4. Uncover goals – Make a list of goals from your point of view and the other party’s point of view. These should include objective and subjective goals along with business and personal. If you’re not sure of some of the goals of the other party, make an educated guess for now and attempt to confirm them during the negotiation.

5. Don’t counter immediately – when an offer is made, resist the urge to make a counter offer immediately. A person’s resistance to another person’s idea is the greatest immediately after they’ve given their own. Instead, explore it with the other party. Ask questions like, “Why do you think this might make sense for both of us? How exactly would that work in this area?” Probe for this solution meeting the win win criteria and show that you are truly considering it. If it doesn’t meet win win, state why it doesn’t work and then slowly come back by saying something like, “Something such as (terms) might work because . . . “

6. Know your walk away point – The goal of the negotiation is not just to produce an agreement. It’s to produce an agreement that works for both parties and protects the relationship. Know what the minimum terms are for you to accept an agreement. Understand that no agreement might be the best alternative. We call this your “BATNA” or the Best Alternative To a Negotiated Agreement. By knowing your BATNA, you will prevent being driven into a deal that works for the customer but not for you.

You and your team can learn to produce stronger relationships and more equitable and profitable business interactions with Northbound’s Goal Aligned™ Negotiations workshop. For more information or pricing, contact Michael Caron at [email protected], 416.456.1440

When Should You Give Up When Prospecting?
Posted by: In: Sales Coaching, Sales Executives, Sales Managers, Sales Training, Salespeople, Uncategorized 14 Jun 2023 0 comments Tags: , , , ,

originalIs there a magic number of attempts before calling it quits?

I’m bombarded with this question when I’m delivering a prospecting workshop.  I usually pass it back to the group to sound in before I give my explanation.  “Never” is often tossed out as is any number between 1 and 10!  Like many sales methodologies, the correct answer, although it seems evasive, is “it depends.”

Recent research reveals some statistics that can help us.  A study by M.I.T. found that it takes on average 7 telephone contact attempts for a salesperson to get through to a prospective customer.  This has shot up from 4 in the 90’s.  Of course pre-internet, the phone was the primary method of reaching out with your message when prospecting.  With remote work, email, texting and people putting their phones on voicemail virtually all the time, it’s much harder to get through to a live person these days.

So how many voicemails and/or emails should you leave before moving on to greener pastures?  Some of the factors to consider when deciding on a reasonable number are:

1) How potentially lucrative is this prospect?  Is it a whale or a minnow?  Whales are worth a lot more effort.

2) What types of prospecting touches have you used in addition to phone?  Regular mail, email, LinkedIn InMail and even faxes are often very effective when used in conjunction with phone calls.  I don’t recommend using text when prospecting.  Most people find it very intrusive coming from strangers.

3) Has the prospect given you any clues as to their level of interest?  If you have something that shows interest, it makes sense to keep going.

4) How high up in the organization is the prospect?  Generally, the higher the position the more tenacity will be required to connect with them.

In general, I suggest you leave a minimum of 5 voicemails over a period 3 weeks and combine this with at least 2 other types of contact attempts before you give up on the prospect . . . for now.  Park it for 3 to 6 months and then go back to it.

Don’t make the mistake of many salespeople who wrongly assume that if the prospect doesn’t get back to them after a couple of attempts that “I guess their not interested.”  It doesn’t mean that at all.  People are busy and returning a sales call is a B-52 priority for most people.  It doesn’t mean that they have no interest at all.  It most often just means that they aren’t going to put it at the top of their to-do list.  Case in point – since starting Northbound, the company has made approximately 15,000 prospecting calls, 10,000 emails and delivered 1,500 regular mail packages.  We have actually spoken to approximately 2,500 of these prospects.  How many have told us something to the effect of “If I were interested, I would have called you back?”  A grand total of TWO!

Invariably, what we hear is something like this: “I’m so sorry I haven’t called you back.  We’ve just been crazy around here.”  They apologize most of the time!

While it’s crazy to never give up, I bet you’re stopping far too early when prospecting.  Don’t be scared to crank that number up and you’ll be rewarded by much higher contact ratios.

For more strategies on prospecting, check out our workshop, Connecting to the Big Cheese.

“No Sense Prospecting In The Summer”
Posted by: In: Sales Coaching, Sales Managers, Sales Training, Uncategorized 08 Jun 2023 0 comments Tags: , , , , ,

summer_time-1455175And other lies that we tell ourselves

I hear them all the time from salespeople.  Excuses why they aren’t prospecting in the summer months.

“It’s a waste of time.”

“I can’t get in touch with anyone.”

“Everyone’s on vacation.”

“People just don’t make decisions in the summer.”

Let’s look at why you shouldn’t take a holiday from prospecting.

Reason #1 – You’re in for a bad fall.

By “bad fall,” I mean both the season and the metaphorical sense of term.  A Harvard Business School study found that over 25% of selling cycles were 7 months or longer.  It’s rare to see selling cycles of less than 3 months.  With elongated selling cycles, you can’t afford to let your funnel get empty by reducing your prospecting activities.  Otherwise, the opportunities for closing in Q4 will be few and far between.

Reason #2 – When contact ratios drop, activities need to go up.

It is true that contact ratios, the number of outreach activities (such as calls & emails) compared to connections, goes down in the summer, especially in Canada and the northern U.S. where many people take summer holidays.  Recent stats show that connection rates since COVID have dropped considerably.  The rise of sales automation and the work-from-home revolution are the two main drivers of this fact.

Across all industries, the B2B average contact ratio is now only 7%.  In the summer months, it’ll be lower as most people try to squeeze in a week or two of vacation within the short 8 week window. Does this mean that we should back off on our prospecting.  Not at all.  In fact, you’d be smart to do just the opposite.  You need to increase your outbound activities to compensate for the lower contact ratios.  Yes, meetings are harder to set in the summer but that provides more time to prospect!  Remember that even if you don’t get through to someone live, your compelling voicemail and email will be waiting for them when they get back.  A voicemail or email is not as good as a live conversation of course, but it’s a lot better than no voicemail or email.

Reason #3 – Your competition doesn’t work as hard in the summer

Take advantage of your competition taking their foot off the gas during the summer.  With your prospects receiving fewer sales calls, they are more likely to engage with you.

The bottom line is that while summer is a great time for all us to enjoy nice weather and take some well deserved vacation time, it’s important that in the weeks that you are working, you keep those money-making prospecting activities going.

Enjoy the rest of your summer!

Being Hammered by Discount Requests? Follow These 5 Steps.
Posted by: In: Sales Coaching, Sales Managers, Sales Training, Salespeople, Uncategorized 25 May 2023 0 comments Tags: , , , ,

800px-claw-hammer

Protect your margins while increasing your closing rate

Naturally, we always want to sell value and reduce the times that customers ask you for a price discount, but regardless of your attempts, you will not be able to avoid them. You always have the ability to say no and lose the sale but if you are willing to reduce your margin and still make the sale, you are going to need to enter the dance of price negotiations.
There are certain steps to follow. Before you even start the process, you should assure the prospect that your price is fair. If and when they continue pushing for a discount, follow these steps:
Step One: Ask why they are asking for a discount. This may sound like a strange thing to ask but can be helpful when the prospect is forced to explain. Often they have weak reasons and some will ease off when they can’t come up with anything better than, “I’d like to pay a lower price”. Sometimes, negotiations may even stop right there when the prospect returns with, “Well, I had to ask.”
Step Two: The next step is to offer something in kind rather than discounting your price. Trade of your product or service always costs less than a cash discount. You could say something like, “I’d really like to have your business and if you’d like to get additional value, I can offer you (blank).” What you offer will be specific to your company and industry but try to make it something that has low cost to you and high perceived value to the prospect.
Some ideas may be: additional service, better payment terms, free shipping, future volume discounts etc. Your goal is to maintain your price integrity while giving up something that costs you little.
Step Three: If you must discount further, never give up something without getting something in return. This is a basic rule of negotiation. If you simply discount, you have opened the door for the prospect to keep asking for discounts now and into the future. Using the same concept as barter, you can give a discount in return for something that is high value to you yet low cost to the client. It could be references, quicker payment terms, volume guarantees, exclusive vendor arrangements, introductions to other internal departments, etc.
Step Four: If you truly believe you must give a discount in order to secure the business, do it slowly and with a good amount of resistance. If you quickly concede, the prospect might say to themselves, “That was easy. I’m going to keep going” Do not get caught on the treadmill of discounting whereby the prospect asks for a discount and you give it only to have the prospect ask for more. It’s a deadly downward spiral and can be prevented by the next step.
Step Five: Try not to give a discount without an agreement that if you agree to X discount, the prospect will buy. You could say something like, “I don’t know if I can give a discount of what you’re asking for George but if I can, does that mean that you’re willing to go ahead. The last thing you want to do is to offer a discount that’s only going to be used as leverage to squeeze another vendor’s price who ends up getting the sale.
The best way to handle discount requests is to reduce them! And the best way to reduce them is to work on building perceived value—right from the first contact while prospecting through to doing a proper “Goal Aligned Sales Interview.” If the prospect truly sees that you and your company provide value and advantages over your competitors, they will be less willing to risk NOT doing business with you by pushing for unreasonable discounts.
Remember, dropping your price is the quickest and easiest tactic for a salesperson to help close. It takes little skill but comes at a high cost in terms of margins and commissions. Talented sales professionals—ones who can truly build value—discount far less often than less skilled salespeople. Our recommendation is to focus heavily on improving your selling skills so that you will need to deal with discounting less frequently and protect your margins and commissions now and down the road.

Northbound’s “Handling Objections” workshop walks you and your team through a six step process that will allow you to deal with discount requests and other objections like a pro.  For details contact Michael Caron at [email protected] or 416.456.1440.

Looking for a high R.O.I.? How about 400% from time management?
Posted by: In: Sales Coaching, Sales Executives, Sales Managers, Sales Training, Salespeople, Uncategorized 18 May 2023 0 comments Tags: , , , ,
how-to-time-managementThese days, anything with a big positive return on investment sounds too good to be true. We’re not talking about financial investments per se here but rather something just as valuable—your time management.  And more accurately, we should say R.O.T.I. which means Return On Time Invested.
Specifically, the investment is the fifteen minutes that you can use at the end of your day to plan your next day. Simply by taking those few minutes and following a few simple steps, you will very likely experience a minimum of one hour of increased productivity the very next day!
Here are some basics to follow:
  • Review your list of tasks and mark which ones got done and which are still outstanding.
  • Note your accomplishments—important for motivation. List your outstanding tasks and any new ones you’d like to get done in your next day’s to-do list.  In CRM’s or calendar apps, these are often called “task lists.”  If you don’t know where the task list is or how to use it, take a few minutes to learn.  A calendar for your appointments is not enough.
  • Prioritize the tasks as As (need to get done tomorrow) or Bs (important but don’t absolutely have to be done by the end of the day tomorrow).
  • Put appointments/meetings in the time slots.
  • Work on one task at a time until you’re done (easier said than done we know) before moving onto the next. Multitasking seems to be a good idea but the lack of focus that comes with it causes ineffectiveness.  Recent research shows that it can actually lower your I.Q. too!
  • Mark off your tasks as you get them done, allowing time for interruptions and unplanned activities.

An added benefit is reducing your stress.  Often, as sales professionals, we feel overwhelmed by the tsunami of things we need (or want!) to get done.  Let’s face it, a salesperson’s job is never “done.”  We could always make more calls or engage in something that will help us grow revenue.  That’s a big reason why getting stuff out of your head and onto the plan for the next day makes so much sense.  Not only will you feel more in control, but it’ll prevent you from waking up in the middle of the night going through your checklist of things to be done.

Does “Like-Ability” Lead to More Sales?
Posted by: In: Sales Coaching, Sales Executives, Sales Managers, Sales Training, Salespeople, Training 11 May 2023 0 comments Tags: , , , , ,

attraction-marketingIf your customer likes you, will it lead to more sales?

 

The link between “Like-Ability” — being liked by your customer — and increases in sales, is a hotly debated topic at live workshops that I lead.  Some of the comments that I typically hear are:

 

“Selling is all about relationships.  My customer has to like me to buy from me!”

 

“I’m in a competitive business.  The fact that a customer likes me more than the competitor’s rep is what sets us apart.”

 

Applying Economics 101 to the issue, the question becomes, “What is the correlation between the amount the customer likes the sales rep and their inclination to buy from that rep?”

 

I try to base the strategies at Northbound Sales on research and not just anecdotal evidence but the research on this topic is pretty light.  Some experts claim that being liked by your customer is akin to gaining admission to a club.  That is, if the customer likes you, you’ll gain the privilege of being considered but if they don’t like you, you won’t even be considered.  This makes sense to me.

 

Neil Rackham, the father of the consultative selling approach, found in his research that led to the SPIN Selling revolution that the relationship between being liked and increased sales was weak.  Although there was a very slight correlation in general, it was limited to rural areas.  Just as most people would guess, it is true that customers in smaller communities will choose to buy more often from a salesperson they like.  In dense urban areas, his immense research found that although customers might “like” one company’s rep more, they were more likely to buy from the rep who provided the most compelling solution to their problems.

 

Bottom line is that if you can’t find your customer’s problems and link them to your unique solutions, they can like you more than any salesperson they’ve ever met, but it won’t close the sale for you.  What I find in working with people in the field is that they spend too much time on pleasantries and small talk at the expense of solving the customer’s problems.

 

I’m reminded of my ride-alongs with Jim, a rep for a national supplier to furniture manufacturers.  When I do ride-alongs, I track how much time is spent on the different steps of the sales call.  In Jim’s case, when he learned that his customer built cabinetry for 2 large national chicken specialty restaurants, the conversation shifted to an open discussion on which restaurant had the best chicken!  Out of a 43 minute sales call, how much time was spent on sharing how the new product might help the customer?  6 minutes.  How much time was spent debating chicken? 22 minutes!  When we got back into Jim’s car, I couldn’t help but question him.  “Jim, where were you going with all the talk about chicken?” to which he replied, “Mike, my customers buy from our company because they like me.  If they want to talk chicken, I talk chicken.”  I’d be very interested to ask the customer if they agree!

 

My biggest advice for you is this:  Yes, try to ensure the customer likes you but don’t think for a New York minute that this is a substitute for deep skills in finding your customer’s problems and helping them fix them.  Work on your “Goal Aligned Selling™” selling skills rather than talking about chicken.

 

To learn more about our “Goal Aligned Selling™” program or to arrange a complimentary workshop for your sales team, contact me at [email protected].

 

Happy Selling,

 

Michael

 

Why Trial Closes Are Overrated
Posted by: In: Sales Executives, Sales Managers, Sales Training, Salespeople, Uncategorized 04 May 2023 0 comments Tags: , , , , , ,

trial_closesTrial closes are important, but not as much as you might think.

Trial closes get a lot of coverage in sales literature as do closing techniques in general.  I believe they get far too much exposure.  The way many so called sales experts drone on about them, you’d think they were one of the biggest secrets to selling.  They aren’t.  The oft quoted acronym “The ABC’s of sales – Always Be Closing” is just plain wrong.

Let’s start with a couple of definitions.

Closing question = Any question that when answered in the affirmative, means that the customer has bought.  

An example of a closing question is, “Well, it sounds like there’s a good fit with what you’re looking for.  Shall we place the order?”

A trial close differs from a closing question in that there is a condition attached to it.

Trial close = A question that confirms the buyer’s interest in purchasing if certain conditions are met.

An example of a trial close would be, “If we could solve the problems we spoke of in a cost effective way, do you think we could do some business together?”  A trial close is like testing the water before you jump in.  It’s a way to gauge interest without asking the buyer for a full commitment.

How they help:

Trial closes are very powerful in helping understand where a buyer is in the decision making process.  You can more easily determine their level of seriousness in solving their problems with either your solution or your competitor’s.

They are also very helpful in fleshing out what obstacles might stand in the way of making the sale.  Often, the buyer will share what concerns they have or what things are most important to them.

What they won’t do:

A trial close will not save bad selling skill up to that point in the sale!  Too many times, salespeople fail to uncover problems with the buyer, fail to help the buyer understand the full negative implications of these problems and finally fail to convey in a compelling & ironclad manner how their solution will help.  And after failing on all fronts, these salespeople, because they’ve read to “ask for the order at least 3 times” go ahead and do a series of trial closes followed by repeated asking for the order.

If the customer isn’t convinced that a) they have a problem that urgently needs to be solved and b) you’re the best way to solve it, you can ask for the order until you’re blue in the face but it’s not going to help.  In fact, research shows that in large transactions, asking for the order more than once actually reduces your chances of closing.  This is when customers may openly show signs of frustration.

On the other hand, if you are skilled and have helped the customer understand why their problem is big enough to warrant solving now and have proved to them that you are going to solve it, a trial close will be low pressure, reasonable and natural.

I’m going to share a story of poor selling technique and how it can lead to disaster.  After dinner tonight, I got a call from the major bank that has the mortgage on our vacation property.  Naturally, when I saw the name pop up on call display, I answered it thinking that it must be important.

Here’s what I heard,

Salesperson: “Hi Mr. Caron.  It’s Keith calling from ABC Bank (name changed to protect the guilty) and I wanted to let you know about a special offer for selected mortgage customers.  Do you have a few minutes?”

Me: “I’ve got 2 minutes Keith.  Can you explain it to me in that time?”

Salesperson: “Sure.  Your mortgage is up for renewal at the end of July and I was wondering if you’d like to get a lower interest rate by choosing a longer term than you have now.” (trial close)

Me:  “Keith.  I’m looking at my calendar and it says March 3rd.  Why would I want to decide on that right now if it’s not due until the middle of the summer?” This objection came up because Keith failed to find the problem with leaving the decision until later.

Salesperson: “Well, nobody can predict where interest rates are going to go and it would give you greater certainty.”

Me: “Possibly but why would I want to make that decision now instead of leaving it until the summer.  Is that the only benefit?”  (I had to repeat my question)

Salesperson: “No.  It could also save you point one five percent interest.”

Me: “That doesn’t sound like much.” I’m getting frustrated at this point because I don’t see any meaningful problem that is being solved for me.

Salesperson: “It might not sound like much to you or I but a lot of people would disagree with us.”

Me: “Can you work out how much that would save me in dollars?”

Salesperson: “Sure.  Just give me a moment.”  I hear clicking sounds.  “Eight dollars per month.”

Me (chuckling): “Keith, for thirty two dollars, I don’t think it’s worth the time and hassle.” My frustration is turning to annoyance at this point.

Salesperson (chuckling along with me): “I understand Mr. Caron.  Have a good night.”

This is a beautiful example of trial closes and unconvincing objection handling being used in lieu of strong selling technique.

My advice is to worry less about closing and instead, focus on sharpening your problem finding skills through the use of well designed questions.  Follow that up with practice of connecting your product’s features and benefits to the solving of these problems.  Once you master these techniques, trial closes and full closes will be easy and natural and the best news is, they will be met with a “yes!”

Northbound’s Goal Aligned™ Selling program helps you understand your customer better and fit your solution to them.  To arrange a complimentary live workshop for your team, contact Michael Caron at [email protected] or 416.456.1440.

4 Steps to Objection Handling
Posted by: In: Sales Managers, Sales Training, Uncategorized 27 Apr 2023 0 comments Tags: , , ,

red-diceThe knee-jerk reaction when you’re hit with an objection is to quickly and deftly handle it. Many of us take pride in our ability to explain why an objection isn’t valid. Unfortunately, regardless of how logical your explanation is, you will get nowhere without stepping back and doing the following steps first.

Agree with the prospect as to the validity of the objection. Assure him that it is a good objection or question. This is called “disarming”. Don’t – I repeat – don’t disagree with him which is the natural reaction for most people. Humans by nature are very stubborn and don’t like to be told they’re wrong. If you jump at him and immediately tell him he’s wrong, it very likely is going to turn into a battle of who’s right & who’s wrong. Ego, emotion & self-esteem will enter into the equation. On the other hand, if you agree that his point is a good one, he will be much more likely to remain calm and open minded enough to listen to your explanation.

Confirm & isolate the objection. This is called “sharp angling”. Make sure that it is the only objection, and make sure that the prospect knows that it is his only objection. If there are other objections, get them out of the way so that you can deal with each one separately.
Obtain a commitment from the prospect. I.e. “If it were not for (the objection) you would want to go ahead?” “You’re comfortable with the rest of the recommendations?” Without the commitment, you may just be gaining another objection. Then you’ll become involved in a game called, “Can I make up more objections than you can overcome”. Salespeople almost always lose this game. Why? They don’t shut up!

Drill down on the objection. In other words, ask gentle probes such as, “what causes you to feel that our price is not competitive?” or “could you help me understand by expanding on your concern about x?” Truly empathize. Put yourself in their shoes to attempt to understand why they think such-and-such is the case. Often, it will be that the prospect simply doesn’t understand the issue fully and your job will be to help them understand in a helpful, non-confrontational manner.

Next time you’re hit with an objection, stay calm, follow these steps and you’ll move onto a sale more often.