| "Cheap" Sales Myth Revealed |
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Can You Believe This Stuff? What To Do About It... When was the last time you heard this comment from a customer: "The salesperson has no bearing on the weight of our decision. It's all about the price/service/timing" (pick one)
Well, according to Howard Stevens of Chally, a research company that interviews thousands of executive decision makers, 39% of decision makers admit to making purchasing decisions based on the salesperson's performance in the sales process. Does it make you feel better that perhaps you DO have more influence than you originally thought, especially since every customer on the planet is screaming that they're only buying from the lowest priced bidder? Read on... As it turns out, approximately 45% of customers rate their suppliers with a "good" rating, so aren't necessarily motivated to make a change from their current suppliers. However, to grasp the business from a competitor, your sales acumen must be exceptional to encourage a change. So, the mantra is: THIS ISN'T ALL ABOUT PRICE, FEES, OR MONEY. But that's not what customers are going to tell you. Or me. Or anyone else involved in the sales relationship. You know why...if the customer admits that he doesn't buy vinyl shoes, refurbished computers, or cardboard manufacturing equipment, he/she has admitted defeat in saving the company money. But the reality is...shoddily made manufacturing equipment doesn't work well, the customer knows it, but tells you that's the price you are competing with, anyway. How do I know? All I have to do is look at our client's businesses as well as our own. At SalesPEAK, we don't have the lowest fees and nor do any of our clients sell "cheap". Yet, we are tremendously successful, as are the majority of our clients. If you are competing with price challenges or at least the appearance of having to compete with "cheap", let's take a look at a few strategies you can employ while going through your sales process from beginning to end: Strategy 1: Begin your sales interaction with the utmost level of professionalism and enthusiasm. It may sound like old hat to you, however, think about how many calls you may have made in the last 24 hours. Are you tired? Do you SOUND tired? Your customer can tell; even in voice mail. In fact, ESPECIALLY in your voice mail. Maintain your professional demeanor, keep your head up, and smile into the phone--human or voice mail! You'll sound more successful and customer's want to conduct business with companies/salespeople who are going to be in business for the long haul. Strategy 2: Don't worry about "cheap" competitors. You'll never have the lowest price, so just forget about whining to your manager, your marketing department, or your CFO about pricing. You can give your stuff away and no one will want it at that price! Consider the value you bring to the table. Sit down and really think about it. What do YOUR customer's say is so great about your products or service? Sometimes the Marketing Department gets it all wrong, or can't communicate the message as well as you. Not that they intend to mislead customers, but your geographic area may be different. You may be focusing on selling a customized product when most salespeople are selling the "vanilla" version. Focus on what YOUR customer's want and begin creating a story around that! Strategy 3: Ask intelligent questions, and lots of them. Too many salespeople end up dumping "value added" statements and may as well be monologuing in front of their bathroom mirror--which is just as effective. Think about the best 7 questions in your repertoire. Write them down. Then, refine the questions until they sound engaging, intelligent, and you can gather more information from those well-conceived questions in less time. After all, your customer's aren't offering you any more time than you've had and believe me, they are far more distracted than ever, especially considering that most of your customers are now working from their mobile office. Strategy 4: What's your product/service worth to your customer? This is where the ROI comes in. If you sell LOCAL service contracts on equipment and the plant is down for several hours while your "cheap" competitor comes in from 537 miles away to make the repair, what is a closed plant costing your customer? A few of these scenarios and not only will your prospect lose tons of money on a closed assembly line, someone could lose their job and worst case, the customer is at risk of losing THEIR customer due to delayed shipments or shoddy workmanship! Ask questions leading your customer to answering and thinking about the consequences of going with the "cheap" guy. Don't tell...ASK! Strategy 5: Stay on top of the sale. Don't just expect the customer to call you back when it's good for him/her. Prove to them that this sale is important to you and that this customer is worthy of your short term and long term attention. Using lines in email and on the phone such as: "Please get back with me if you have any questions", is the biggest turn off in communicating to the customer that you are available. After all, who's in charge of this sale, anyway? It better be YOU! Want more ideas? Go to: www.salespeak.com and download what you need from our archived "sales help articles" section of our website. Good luck and happy selling! (c)Renee Walkup, All Rights Reserved, www.salespeak.com 678 587-9911 |
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