Say goodbye to ‘It is too expensive’ objections with these tips

The beer maker Stella Artois used its higher prices compared to other brands as a positive differentiator in their sales pitches. It was a very confident move of a company prepared to fight for their product quality rather than lower prices. It was done in a fun way too. The ads belong to my favourites.

If you hear the classic ‘it is too expensive’ objection more than once in a while, read on.

This High Growth Sales idea is aimed at sales people who want to overcome objections like ‘it is too expensive’. I will give you a script as well as a tip to avoid the objection in the first place.

Before we jump ahead of ourselves, let’s have a quick look at what is actually going on.

For an unknown reason we have managed to focus the customer’s thoughts more on cost than anything else. The demo was great and so was the need finding. We even spoke to the right person and the timing was also right.

What is even more curious is the failure of the sales process.

A sales person’s single purpose is to convince a customer seeing more value than cost and subsequently buy. After all, if a prospect sees value without that help, the sales person is not needed in the first place. A brochure or video would do.

Here is a suggested script to overcome the objection ‘it is too expensive’:

‘I appreciate you saying this. Some of my clients felt the same way after the initial meeting. When we reviewed the key benefits again, they found it good value and move forward. May I suggest we look at how our product helps your business moving forward again briefly?’

So, how can we avoid the ‘it is too expensive’ objection?

Stella Artois positioned price as a differentiator by showing how much value drinkers put on a pint.

In sales we should do the same: Find out what problem our customers want to resolve and gain their commitment in doing so. We have to make it explicit and clear enough for all parties to be able to move forward. Do that and you will have seen the last of the ‘it is too expensive’ objection. You will make more sales.

If you like to be able to pitch as well as Stella Artois but would a bit more help, feel free to get in touch.

Keep the flow in your sales funnel and fuel high sales growth

My lawn needs cutting every two days at the moment. I filled up the mower this morning using a funnel. It fuels the engine so I can keep up with spring growth. It reminded me of a question.

How can a sales person generate revenues faster from their funnel?

There are plenty of opportunities in the sales funnel, yet it seems to be a stagnant affair. There is no high sales growth.

Here are three simple tips to avoid a stagnant sales funnel:

1) Agree a time frame to purchase as early as possible.

One seller I coached started every enquiry with ‘when would you need the items by?‘ Brilliantly simple and effective method. It reminds the buyer of the urgency and reason for purchasing. The additional opportunity to drive competitive advantage also presents itself. Perhaps your company can deliver faster than anyone else even if your are not lowest price.

The sales person is now a top performer and has the highest conversion rate in the company.

2) Understand why the customer needs your product or services.

An SDR in Payments I work with, now starts a new sales conversation asking what triggered the prospect’s interest. This open the conversation up and reinforces needs and urgency.

She is fast becoming a top new business seller.

3) Re-confirm the customer’s key needs and time frames to purchase at the start of every interaction. T

The start-up CEO I work with, is very much into sales. He frames the prospect’s needs in the email header. This reminds the prospect every time he gets an email. The hit rate of this tactic is very high.

Enjoy these tips and try them. They will help you make more sales and kick start high sales growth.

If you are your team would like more support feel free to get in touch.

Manage your manager

‘When will you close that deal?’ is one of the questions sales managers ask their team members frequently.

It is a logical, outcome focused question. They want to know when the deal is coming in and when revenues will start. Targets have to be achieved.

Yet, as a salesperson you probably do not know yet when the deal is coming in. Perhaps you were too optimistic talking about the deal as a real opportunity. The pressure is on…….

Many CRM applications add success percentages depending on stage, yet these are arbitrary and often set by CRM experts rather than sales people.

So how can you assess an opportunity objectively and predict (when) it is going to come in?

Here are the 4 high sales growth questions to apply for every opportunity
  1. Am I talking to the person who has the power to make the purchase decision?
  2. Have the customer and I agreed that my product fixes the customer’s issue?
  3. Has the customer indicated that the price is acceptable?
  4. Is there a clear time frame for a purchase decision?

Every “YES” catapults you 25% towards a deal.

So, two “YES” answers takes you to 50% , three to 75% and four to the top 100% certainty.

Here is a simple example:

Salesperson meets operations manager in a white goods factory. The operations manager is under pressure to reduce logistics costs.

The salesperson identifies an opportunity to sell a new packaging solution saving the customer £50,000 over two years.

The operations manager agrees to a demonstration of the solution and is very positive about the demonstration afterwards.

Sales Manager asks salesperson when the deal is coming in………….

Let’s ask the 4 high sales growth questions:

  1. Is the Operation Manager the decision maker? Don t know. Therefore 0%
  2. Does the solution fix the customer’s issues? Yes. Therefore 25%
  3. Is the price acceptable to the customer? Don t know Therefore 0%
  4. Is there a clear time frame Don’t know Therefore 0%

This deal is still early stage and has only reached prospect stage as we know there is a potential need for the product.

Now check this concept on 2 current opportunities and see how close you are to winning them. If not on the 100% yet, just home in on the missing elements. The deals will follow!

I love this concept. Its easy and gives total focus on any missing elements. Besides that I have seen companies growing their sales output by more than 100% by using this pipeline management method.

If you like high sales growth strategies like this and want to make more sales feel free to get in touch

#closingdeals #CRM #salestraining #thebestsalescoach #winningdeals #salestechniques #pipeline #pipelinemanagement #highsalesgrowth

How to make more sales using less effort

This short High Sales Growth idea is aimed at sales people who want to make more sales but have too many opportunities in their sales funnel. They are just too busy to be effective.

We’ll cover why opportunities should be dealt with swiftly, what needs to be done to move them forward and dropping non-opportunities.

Focused sales people make more sales. However, too many sales opportunities diffuse focus and result in lower sales. It is likely that many of these opportunities are locked and not moving forward. We just hoard them in hope that one day they magically will come in.

My experience with many clients is that these locked opportunities lose their conversion probability very fast as time passes (see below as illustration).

The steep slope soon after the opportunity is discovered suggests strongly that early decisive sales engagement is key to higher conversions.

For some businesses the time frame to win an opportunity is just a matter of seconds. For other businesses it is days, months or even years. What is yours?

The longer these opportunities stay in the pipeline, the lower the chances of conversion. It is imperative to unlock sales opportunities and keep them moving forward if we want to be rewarded for the considerable efforts and Sales and Marketing costs made to identify a sales opportunity. Just as important is to identify the non-opportunities and drop those with vigour. A simple example is when it appears impossible to have a meaningful conversation with a senior person. These are not opportunities, they are prospects.

Below is a simple tool (no CRM needed, just a simple spreadsheet) to capture sales opportunities, analyse them quickly, identify what the blockage is and what needs to be done to unblock them. A short discussion with your manager or other seller will also help to identify the non-opportunities so these can be dropped.

By listing each current sales opportunity, its estimated value, the ultimate decision maker, any agreed time frames towards a purchase decision, the issues the prospect wants to resolve and how they perceive your pricing proposal, you will see why the opportunity is locked.

  • In the E Stack example, it clearly shows that more work needs to be done on pain points (needs).
  • In the Coaster example the next step is to close the deal!

This read covers the knowledge bit only, you still need all your sales skills to actually move the opportunities forward. This means getting attention from the decision makers, developing interest and desire in your product and gaining commitment.

In the event you simply do not have enough quality opportunities in your pipeline, it is a matter of increasing your pro-activity and search for them

Feel free to get in touch via mail in the top right button or gert.scholts@thebestsalescoach.co.uk how this tool can benefit your sales and unblock your opportunity pipeline. My complimentary sales surgeries have a reputation to uphold!

#highsalesgrowth #sales #salescoaching #sdr #pipelinemanagement

Do the maths for high sales growth

My very first boss, Azim Isa, taught me a high sales growth technique I still use and promote today.

It looks as simple as 1+1=2, yet applying it well is where the real skills and knowledge are needed.

He told me that prospects will buy by qualifying the potential sales opportunity in just 5 areas:

1. Agreed budget/cost/investment

2. Agreed and prioritised needs related to the prospect/product/service proposition

3. Agreed time frames to proceed

4. The decision making process, people and criteria

5. A comparison with a competitor proposal

Focus your sales interview on these 5 qualifiers, Gert” he said.

” But don’t be fooled by the simplicity of this list. Understanding your customers 100% is what is needed. This is the most rewarding and the most difficult skill to master in sales”

After 25 years in sales I share this simple high sales growth model with everyone who wants to hear about it. I have done well out of using it with customers small and large, short and long sales cycles.

And if you want to learn more and use this technique to boost your sales immediately contact me today

Azim, thank you for this constant truth in selling!

#salescoach #salespitch #sales #SDRS

Prevention is better than cure

High sales growth includes anticipating potential objections and stopping them before they start.

Here are 4 proven strategies anticipating common sales objections.

“They need to think about it”

means you did not create enough urgency

Fix: include time frames in your fact finding. Ask questions related any dead lines, start or finish points even if the answers are likely to be aspirational. A deadline focuses mind and creates leverage for salespeople.

“They thought it was too expensive”

means you did not demonstrate enough value.

Fix: confirm the pain points during your re-cap. Explore why the customer is seeking a solution to their problem. Discover the implications on the business of not finding a solution.

“They need to speak to the boss”

means you did not engage with the decision maker.

Fix: qualify your prospect as decision maker or influencer during your fact-finding. In some companies decision making processes are slow, complex and collaborative. In other cases it is quick and central.

“They did not see how the product would benefit them”

means you did not understand their needs.

Fix: fact find relentlessly before presenting any solution. It is easy to fall into the trap of discovering just one pain point. Resist the temptation to offer a solution too early. Cover every angle beforehand instead.

Bonus tip: Recap on the customer’s needs and wants, just before you present the solution. This validates not only the presentation, it also explains clearly why you are there.

If you want to know more about objection handling in consultative sales, feel free to drop me a line

Happy selling!

#sales #objectionhandling #factfinding #marketing

Sales habits for professionals

This sales idea for sales leaders and sales people explains why developing good sales habits makes sense, how it benefits professional sales people, their leadership and what the key good sales habits are. A few bad sales habits are included!

Why have good sales habits?

Good sales habits improve sales success. Sales results follow when the habits are sound and are completed with great commitment and passion. An additional benefit is that knowing there is a road and steps towards success. This can inspire a sales person carry them through the inevitable tough times.

Good sales habits are aligned with the sales processes sales people use making sales. And when the sales habits are captured and measured, ideally through robust CRM, managers can better support their sales teams and make better business decisions.

The best companies articulate good sales habits as key performance indicators.

Developing good sales habits and well-defined sales processes are central to effective sales management.

What are good sales habits?

Good sales habits are repeatable steps needed to be a successful sales person.

Here are the key ones:

  • Finding prospective customers,
  • Engaging them,
  • Understanding their requirements,
  • Presenting your products/services,
  • Winning the deal
  • Urgency

A pure sales role may find that 80% of the time is needed to find prospective customers and 20% engaging, fact finding, presenting and winning the deal.

Account Managers develop and retain accounts. They spend no time at all finding prospective customers. All of their effort goes into the other sales habits.

Are there bad sales habits?

There are bad sales habits and you’ll probably recognise some of these:

  • Waiting for an enquiry
  • Not following up on a deal because it is too small
  • Presenting a product without understanding the prospect’s requirements
  • Death by Powerpoint and long monologues
  • Blaming others for the lack of success
  • Have no habits or structure at all
  • Lack of focus on outcomes

How sales people benefit from good sales habits.

  • Closing more deals – Having good sales habits is reflected in sales metrics. It delivers consistent results. As a seller I remember all my great sales and more importantly how I got them by having and executing the right sales habits. Are your sales people resisting a slightly more structured approach? Simply show them the undeniable and unbeatable proof in your sales metrics. This is not about gut feel.
  • Improving efficiency – Habits improve efficiency. It is not very different to a performing artist prepping and singing the same songs many times over. They become better and better at it with less effort, leaving room for more. Sales people will find additional sales opportunity with the customers when they apply the logic of good sales habits. That means more revenues for their company and more satisfied customers.
  • Confidence – Having a track to run on and knowing that the track leads to success, builds confidence in the sales person. That helps getting more sales.
  • Developing stronger skills through habits – The more you practise, the better you get at the job. Prospecting through social media and real world networking, fact-finding skills, presentation and negotiation skills all improve dramatically as the habit forming goes up. The improved closing ratios mean more revenues.
  • No need to reinvent the wheel with every new opportunity – This comes down to a comfort level and confidence executing time and again. No need of having to come up with new unrehearsed approaches for every opportunity, the sales person can rely on the tried-and-tested nature of their sales habits. Selling is about execution.

How sales leaders and their organisations gain from developing sales habits with their sales people.

In short, good established sales habits liberate a sales leader to support their team in the right areas and helps making better sales management decisions.

  • Better sales forecasts
  • It sets activity and results expectations
  • Up to date information to manage the sales funnel – A sales process should outline between 5 and 8 crystal-clear steps to take at each stage/habit.
  • Training needs analysis- The sales manager is responsible for training and motivating their sales team. By identifying strengths and weaknesses in each sales person’s sales funnel, the manager has an excellent starting point to train and motivate the sales team.

Developing good sales habits makes sense. It creates more sales. If you require input to stop bad sales habits and help forming the right sales ones with your sales team, feel free to get in touch

#saleshabits #salesprofessionals #salestraining #salesmanagement

Sales people tell customers what they need. Trusted advisers help them finding out exactly what they

This short sales insight is aimed at sales people who want to be seen as trusted advisers and at company leaders who need their sales teams to become trusted advisers.

Why do buyers need sales people or traditional reps in 2019. Do buyers really want to meet a sales person who is telling them what to buy?

More sales transactions take place digitally then ever before. Buyers have little need to speak to a rep or sales person. They have access to digital product information at unprecedented level with Google searches alone reaching 4 Million searches every minute in 2018 according to DOMO.

The days of the transactional sales person are numbered because the need for the ‘teller seller’, is diminishing fast. Life is too short and time is money.

So what do buyers want instead?

When I meet my customer’s customers during coaching calls, I see three recurring expectations buyers have of a sales person:

  1. Understand my challenges and opportunities
  2. Ask questions that give me new insight about my issues
  3. Provide solutions that solve my problems

‘Tell me what to buy’ is certainly not an expectation.

These expectations lead on to the need to become a trusted adviser instead of the traditional sales person. For the trusted adviser the customer relationship and requirements are at the core of all actions.

Being a trusted adviser means you:

  • Achieve larger, more interesting deals
  • Link outstanding sales results to outstanding customer relationships
  • Help creating differentiation and competitive advantage for your customers and your own organisation
  • Build deeper, longer lasting customer relationships
  • Use trust as the basis of the commercial relationship with customers
  • Are pro-active, exploring ideas to best support customers

Reaching the status of trusted adviser does not happen overnight. It will be the result of a planned approach in a professional manner. This planned approach puts the customer at the centre of the relationship.

The trusted adviser will have to build a trusting relationship using advanced sales competencies such as initial engagement, active listening, asking probing questions, re-capping and presentation skills.

If you need your sales team to become trusted advisers, feel free to share these concepts.

I may be able to help you get there. contact me

#consultativeselling #salestechniques #transactionalsales #trust #salesperformance #probingquestions #salescompetencies

Tell customers what they would like to hear

This sales tip is for sales people who talk too much!

Every Sales Training course we have ever been on, tells us we should listen more to our (prospective) customers. I am sure you would agree. Yet, most of us just cannot keep our mouths shut….

Why? Sales people like to talk, share, have fun and are devastatingly optimistic about almost everything. We just have to let the world know.

With all those ideas and solutions swirling around in our head, how do we know the best next thing to say?

Sure, there are words and expressions that help customer commitment and a sale closer.

But what about words and concepts that put customers off?

Terminology or jargon can confuse customers. A confused, future client is unlikely to make any decision to buy soon.

Here are some words and phrases to avoid if you are a talker rather than a listener. I have also added alternative approaches that add value and bring a deal closer.

Problem

No customer likes to be told they have a problem. Use ‘challenge’ or ‘opportunity’ instead.

Prospects

Who wants to be called a prospect? Add value by calling them future client/customer instead.

What are your priorities when making a buying decision?

Here you are about to create the price objection. Try this instead: Other than a good price, what are your expectations from our product and services?

Don’t, Not, Won’t, Can’t

Customers are seeking solutions. Any negative expression can be seen as a hurdle.

Obviously, excellent, no problem

These are all self-congratulatory terms. We are talking to our self here, not the client.

It could be obvious or excellent for you, but is it for your future client?

Maybe

We need to be confident in our sales pitch, so using words like maybe don’t help our cause.

Cheap

Our products and services should be seen as valuable rather than cheap. Instead I suggest terms like excellent value, cost effective or advantageous.

Cost

Cost has a negative connotation. Use “investment” instead.

Discount

This can devalue the entire deal, so refrain from using this whenever possible. Use words like ‘volume bonus’, ‘loyalty rate’ or ‘special price for you’.

Price

“Price” may make them think they can shop around, again here use “investment” instead.

Objections

Use “areas of concern” instead.

Sign or Signature

Rather than asking them to ‘sign’ a document, ask for their approval instead. It sounds and feels warmer.

Commission

Everyone knows salespeople are partly paid based on commission, but don’t make it blatantly obvious that you’re going to make money off the sale. It is about your clients, not about you.

Exciting

That new product may an exciting development to you or your Marketing team, but is it exciting for your clients? Instead, find something about your offering that actually excites the future client.

Are you the decision maker?

Knowing where the power lies in any organisation is key. “Are you the decision maker?” is a relevant question. Power this question up 100% with this line instead: ‘you are the decision maker?’ It adds instant value to the person you are talking with. Better still, ask what the decision making process is to move things forward.

Let me tell you that….

Another assumptive high handed statement that will take your sale off track. Try ‘imagine how our product will help your team to…..’ instead.

I was talking to a customer…

Change this one to ‘I was talking with a customer’ Talking to implies we are telling customers what is good for them.

I hope the above has made you realise some words and phrases you use every day, are holding your sales back right now. Change them and tell your customers what they prefer to hear. It will help you to make more sales.

If you or your company would like to learn more about professional selling techniques and performance improvement, read my other sales tips or contact me. Happy to help you to be the best you can be.

#salestips #salestactic #salesteammanagement #salestraining

6 practical reasons why buyers and sellers should collaborate more.

This sales tip is for sales people who want to see their customers as partners rather than customers.

Believe it or not, I used to view potential customers as adversaries. It was a cunning game of cat and mouse where we were trying to outwit each other with smart scripts, objections, objection handling, closing techniques and being illusive at times. In the end, this chess game resulted in win-loss, loss-win, loss-loss and at times win-win. But I was doing fine and earned good commissions.

It was not until I started to sell to companies and their purchase departments.

Professional buyers soon showed me they wanted a stable supplier relationship where product, price and availability were all key considerations.

Some companies wanted more than that and saw me as a partner helping them to grow. The relationship would be such that any potential issues were anticipated and dealt with minimising their effect.

My largest clients insisted on agreed annual account plans, implants, product innovation and smart access to Management information.

During my sales career I found 6 behaviours where buyers and sellers work well together:

1) Great sales people ask questions that deepen buyers’ understanding.

A sales person has access to product expertise and use this to be a consultant to buyers.

2) Great sales people listen to understand buyers’ requirements, preferences and concerns,

A seller is an analyst and should use this skill assisting the buyer to find the best solution.

3) Great sales people solve buyers’ problems.

Buyers have to have a thick skin. They get bombarded by end users, management and of course, sales people. A solid supplier relationship prevents many of these problems and they will prefer this.

4) Great buyers clearly articulate their requirements.

Trust lies at the basis of any new or existing relationship. For both parties this is achieved by asking smart questions and adjusting behaviour where needed. It also means making respective positions clear early on in the sales interaction. ‘We use 50,000 widgets every month, you sell them so let’s see what you can offer’

5) Great buyers share their decision making criteria.

The decision matrix can be complicated: product suitability, colour match, green credentials, cost, supply, delivery, order process, systems integration, trust and strategic fit are just some of the many considerations. A buyer who articulates priorities helps him/her self to find the best suited supplier faster.

6) Great buyers seek added value from sales people.

Sales people love a challenge! That is why they are in sales. Of course cost, discounts, and rebates are of great importance. Yet, joint forecasts, product development or sole supply status are added value requests that help to deliver a stable supplier relationship.

If you want to have better supplier-customer relationships resulting in more profit, feel free to contact me.

#purchasing #procurement #salesteammotivation #buyer #seller #salesteammanagement #tenderprocess #collaboration