In With a Plan, Out With a Sale

I'd like to say this once and for all - Luck is not a business plan! "Talent" is not a business plan! Whew! I needed to get that off my chest.

I work with small to medium sized businesses, and sometimes really large ones, and I'm amazed at the number of times I hear that there is no skills review or specific process for the sales team to follow. Entrepreneurs hiring sales reps tell me, "they should know what they're doing." Um, yeah, but so should you. Luck is not reliable and repeatable, and without a reliable revenue stream, you're out of business.

Most people who start a business are not sales experts, just like I'm not an automotive expert. But your sales reps should be. They should be going into every sales call with a plan that helps them qualify the customer, and present that customer with the right product to fill their needs. If your reps don't do that, every sale they make is based on luck, intuition, or personality. Not good.

Every sales call should have the same purpose: lead to a sale. The sales cycle for each business is different; selling cars is different from selling medical equipment. Each one will have a different call plan. What are the necessary steps for a prospect to go from zero to sold? All of them are part of your sales process. What needs to happen in person? Those are the parts of a sales call plan. Every sales rep should be using every part of the sales process. If they aren't, they're not doing their job. They should be able to discuss it with you, and they should be able to fine-tune and improve it over time. That way, they can share best practices between them, and all improve steadily.

While we're at it, let's stop selling like it's 1995. There is nothing your customer can't learn or find on the internet. They can probably buy it cheaper, too. That means you need to be there, where your customer is doing their homework. Have some solid online support for your business and your reps. Have a great website, and include a FAQ page. Do some inbound marketing, with social media (anything retail), white papers (business and professional services, technology), a blog (food, fitness, arts, in-home services) or newsletters, all linked directly to your website. People don't buy from businesses. People buy from people. Create a web presence that helps your customer learn your business's personality, and help them know, like and trust what your business will provide.

So, to recap: have solid web presence to help your clients learn about, know, like and trust your business. Sales reps should have a specific set of skills and a plan to learn to "right size" the solution they offer your client. Your company should have a clear, repeatable sales process that evolves over time based on the successes of your sales pros. And you can't rely on talent or luck to provide a steady revenue stream. You need a plan.

Elisabeth Marino is an sales process adviser working in Buffalo, NY, and a frequent contributor to LinkedIn. She has worked in sales development and evaluation for 17 years, and helped dozens of organizations improve their sales numbers. Connect with and follow her here, on Facebook as Sales Dynamo Consulting, and follow her on Twitter @SalesDynamoNY.

Selling Against A Lower Price: How To Win The Sale

"I can get it from XYZ Corp for 8% less.  Can you meet their price?"  We hear it far more often than we'd like.  What's a sales pro to do?

Your manager would say, "You haven't adequately sold the value of the product."  To some extent that's true (it helps them meet their goals), but we all know there are some people who will always buy on price, no matter what. What do you say to them?

"I never worry about my competitor's lower price; they must know what their stuff is worth.  What my product is worth is $X.  My product meets your goals of  A and B.  How many would you like?"  With this response, the competition is minimized, and you're back on track.  There is nothing your customer can say to this approach that will shake your explanation of the price differential.  All you need to do is take the order.  They may talk about budget, giving you an opportunity to discuss payment arrangements.  Don't sell on price.  You'll lose.

When your customer makes your competitor a topic of conversation, you need to change the focus back to your customer's goals and how your product helps to achieve them.  You're not an expert on the competitor, and even if by some chance you are, it isn't what you need to discuss to sell your product.  Nobody's goal is to have a 1/4" drill bit - the goal is to have 1/4" hole.  Stop talking about the tool, and start talking about the goal.

This "They must know what their stuff is worth" approach can easily be overdone and beaten to death.  When you say it, say it once, clearly, and then drop it.  You're not bad-mouthing with this approach, you're stating a fact.  If you are perceived as talking trash about the competition, your reputation and your sales are quickly going to be in trouble. Keep the focus on achieving goals, and close our sale. 

Foundations of the Sale

There are three foundations that make every sale succeed.  They are : 1) Client needs the solution you are providing.  2) Client has reasonable expectation of the product and the service you provide. 3) The client feels they have paid a fair price for the solution provided.  When the client sends a strong buying signal before these three foundations are in place, start the paperwork.  But understand that your job isn't finished.  Don't take the signature until all three conditions are met. 

Short of reaching for the pen and asking for the sales agreement, is there a clear buying signal?  Sure there is.  And when your customer starts to send the buying signal, can you rush the sale, or over-think it?  Of course.  So let's get it right.  It's much more profitable to sell the prospect correctly on the first try than to try to appease an unsatisfied client.

Customers send buying signals from the moment they agree to meet with a sales person.  They'll tell you what they want, what they need, what they have filling that need right now, and why they are considering a change.  They'll ask for a delivery or in-service date. Is that the right moment to close the sale? 

The answer is, only sometimes.  We want happy customers.  They become our advocates and sources of repeat business or referrals.  Still, no one wants to feel like they are part of your agenda. So when they ask, "when can we take delivery" or "what kind of deposit do you need" or "how do I bring my people up to speed on this" or any other classic buying signal,  it's time to stop any overt selling.  They're sold.  It's time instead to educate and advise. That will help ensure a happy customer.

Move to what using the product will mean for that client. Ask them questions about how they anticipate implementation working, and use that part of the conversation to set realistic expectations.  Make sure they understand the payment process.  Clients who can reach out and get immediate answers are usually the happiest, so make sure they have your number, the support number, and the address of the website.  Now you're ready for the signature.

Always send a follow-up email thanking them for their time and business.  If your client will be working with someone else for fulfillment of their order, make sure that you include all of the contact information in the email.  That customer is about to be an excellent referral source for you, and that will keep bringing you commissions as long as they are happy!

How Much Does It Cost?

Customers want to know what it costs.  "It" is the product or service you're selling.  And since the beginning of time, people hate to part with their money.  Ideally, the customers would see the value in your product and do everything in their power to pay whatever you ask.  So how do we make the world a little more perfect?  You need to plan your work and work your plan. 

Build Value
Educating customers on the value of your product is going to make or break your sale, and it's one of the main reasons you draw a paycheck.  You need to present the features and benefits to the prospect in a specific order to build the customer's understanding of the value.  Build a foundation: present the main need the product exists to meet.  Show how the product meets it.  Make it sexy, or at least visceral.  Use words that engage people at a gut level.  If you're talking about a powerful car engine, "thrust," "power," "masters the road."  If you're talking about banking, "relax", "strength," "security", and "knowledge."  Discuss the product as if the customer already owns it.  "Now you'll have the security you deserve."

After the foundation?  Ask a probing question or two and keep the customer engaged.  Respond to their answers by working in some personalized features and benefits.  Ask how your customer is meeting their needs right now.  It's important that when the customer is focusing on price, the sales professional is directing their attention to the value instead.  Be clear in your own mind exactly what information you want your customer to have before they try to make a decision. 

People are more inclined to believe and remember information that they receive in multiple  ways, so make sure that while you're speaking you show, demonstrate or point out the aspects and details that paint the picture you want them to have.  The more the customer can picture themselves using the product or service, the more they will treat you as the expert to help build their vision.  This keeps you in control of the sales process.  Is the picture you want the customer to have complete?  If not, keep building - presenting - the features and benefits that will create a complete understanding of your product.

Stacking

When it's time to present the price, stack the benefits up like pancakes.  "For the hand-built mahogany frame, the wool/linen blend upholstery, the door-to-door delivery service, and the 5 year warranty, it's only $549."  Stacking reminds the customer of all the details you've presented or discussed, and emphasizes value over price. Without waiting for the customer to interject, move directly to an assumptive closing question: "Would you like us to deliver on Friday or Saturday?"  Once again, you are controlling the conversation, and directing the customer's focus to picturing themselves owning the product.  The satisfaction of owning/using the product will outweigh their attachment to their money.  That's when they buy.  Just keep moving through the closing process as if they've already committed.  You'll be amazed how often your confidence that the customer wants the product will lead to the customer owning the product.