"I'm interested" is not a synonym for a sales opportunity

"I'm interested" is not a synonym for a sales opportunity

When you hear the words "I need" and a description of what's "needed" do you immediately start to design and quote or sell? If you do, at the end of the sales process, you often hear "Great Idea but It’s too expensive", don't you.

Can you really afford to waste time selling with the outcome being "sorry, not enough budget"?

Up front and immediate qualification of things like cost v budget is a must for any sales process. It’s the reality check that can get you a sale or let you scale down the expectations of your prospect so they can get a solution at their budgetary level.

Yes, I did say "up front" as in way before you even start to sell!

So is up front qualification of budget availability, how to get cash obligated and available, the evaluation and buying process, how things get bought and who needs to be involved to get to yes.

It’s all done in about 1 minute on the very first sales approach call and its results tell you if you have a prospect, have money available to buy and even if you should continue with the selling process because there is a reasonable chance for a sale if you do.

Here are some steps for doing this:

1. First off, do some research and understand the target company, especially how and why your product or solution can help.

2. Next, make a short 30 second commercial based on your findings that can quickly and succinctly say what you do, relate pertinent issues, benefits and problems solved and let you ask if it’s something that the prospect needs or would adopt.

3. Next find and define who would be right to hear that commercial at the highest level of responsibility and authority, relate to it and give you a true assessment of need/value on the spot.

4. Then make the phone call to that person and use the 30 second commercial. After the commercial, ask for and qualify the possibility of need or value for what you have explained from the person you are speaking with. Ask it this way "Is this an idea that can benefit you and your
company"

5. If yes- ask how, why, reason, problems solved, impact, This creates a link between you and the person that you have called for a sales process to begin that, if perused properly, you have the basis of selling value/ROI and not cost and you know it has possibilities to yield a sale based on those criterion. Actually, that's the basis of a solid sale- Perceived value and or ROI, not cost!

6. If no, or you get a weak maybe, stop selling, say thanks and move on to the next prospect. Don't waste sales time on this one. Yes it’s OK to say "Thanks for your time and your honesty. I can see that our solution isn't applicable to you" and then ask "Do you know of a colleague that could use my solution" and you might get a great prospect to call. Even an introduction.

7. If yes, learn the process for moving forward and facilitating the outcome being a funded PO. Ask "If we do have a worthwhile solution for you, who along with you would need to be involved in evaluating, adopting and purchasing your concept"?

That teaches you who to approach beyond your initial contact and does not insult the person you are speaking to. Even more important, since your idea or solution has already been acknowledged as worthwhile by the prospect. using this question also lets you ask them for help in moving forward. You will get that inside help or as we call them in sales the inside CHAMPION who can sponsor you and your idea/solution up the ladder, a very valuable inside ally in any sales process.

Remember, don't say "who is the decision maker". It’s an insulting question because it says to your suspect "you are a peon so tell me who to go to." WRONG!! The "peon" is the gate keeper and can help move you forward or kill a sale because they are usually the resident expert that the decision maker consults for value.

8. Get Budget qualification up front - Get it qualified immediately in this first call. After the 30 second commercial gets receptivity or the caller has finished telling you what they want to buy, in either the proactive or reactive situation, state a rough cost right then to your suspect for the solution and ask if there is a budget for implementing the concept if it’s a worthwhile idea. Yes, I did say bring up budget and possible cost right away and yes it violates every sales rule that you have learned.

Don't even think of continuing the sales process without knowing the answer to this budget and budget process in call # 1 because the answer you get reveals the time and process needed to get the sale and your prospects perception of "how much" they think your solution should cost. It lets you measure if it’s worth your time v the ultimate sales value as well.

Don't be afraid of this question so early in the process. It tells you if you can proceed with your idea.

It also lets you ask and understand what the company's usual process for evaluating and ultimately purchasing your idea is. That's a clear roadmap to a financial yes, the key to the PO so get it and work it. That's also true when you get a call from a "potential" customer telling you that they are going to by a specific solution just like yours.

End users rarely have a handle on real costs nor have they correctly obligated enough budget so do not spin your wheels without qualifying need v probable cost and available budget.

Incidentally, doing so lets you advise them re their budget inadequacy and it’s an opportunity to sell a starter system using the available budget.

Remember, people do things for their reasons, not yours. So instead of deciding that you know a prospect needs your service and trying to ram it through, follow the steps above, use the 30 second commercial up front and you will avoid chasing rainbows that do not become sales.

Tangible Results for youBecause you are working with solidly qualified prospects who have or will spend the $ for your solution, you will up you close rate and reduce the time it takes to get the sale. More income faster from more sales---That's a great equation for us sales types isn't it!

Regards,
Neil Licht
Senior Training Manager, Instructor and 20 year security industry veteran

Tips on How To Sell in a Rough Economy

TIPS ON HOW TO SELL IN A ROUGH ECONOMY

Here is what I am seeing out in the market place and some ideas on how to deal with the current economic situation. These tips are really for Salespeople who are selling a service and /or a product in a business to business environment.

What You Are Seeing:

1. Delayed closings
2. Getting less appointments
3. Companies are spending less money
4. Clients going away

Customer Objections:

1. Spending freezes
2. Putting things on hold
3. Layoffs
4. Cutting back

The Reality-Opportunity is Still Alive and Well:

1. There are really no spending freezes if something is seen as a critical "need"
2. There is still plenty of business being conducted today
3. People are just scared
4. Some people are just taking advantage
5. People are still greedy
6. Entrepreneurs are still Risk Takers
7. People still want to believe
8. This is the 3rd recession since 1987 predicting gloom and doom
9. This could be the worst one yet
10. Some businesses boom in a recession
11. Hidden weaknesses of your selling process and salespeople gets exposed
12. People actually want the help
13. People will always complain “until you’re the guy with the solution”

The Winning Strategy:

1. You should be more focused on who you should sell to2. Aim bigger, not smaller3. Aim higher, not lower4. Make fewer appointments5. Empathize with issues – not excuses6. Develop bigger goals7. Smaller window-not bigger

The Strategic Tactics:

1. Nail your 30 second positioning statement that can create a need to "hear you out"
2. Give at least two examples in your positioning statement that can relate to your audience
3. Be more selective – not less in who you go after and "opportunities" you chase
4. Be more focused on your service and/or product – do not generalize
5. Sell to the right person – CEO or President
6. Book your appointment – Accept no put-off’s
7. Book only three new appointments per week
8. To get 3 appointments means 6 conversations per day/30 calls per week
9. That means 24 Dials a day
10. That equates to 78 minutes per day on the phone

Executing the Tactics:

1. Book the appointment
2. Hold your ground
3. Create urgency – can’t afford to put it off
4. Create an Economic Stimulus

Team,
This is timely and great information and I’m sure you will find it useful!
A wise person once said "If it is to be its up to me".

I hope this message helps everyone to get on point and do well.

Regards,Neil Licht Answers callhereweare@verizon.net 508-481-8567

Making Critical Decisions - It doesn't have to be "all on your shoulders"

Making Critical Decisions: It doesn't have to be "all on YOUR shoulders"

It took me a long time but I have learned how to involve others and their expertise into my decision making process so that I am honestly seeing issues and problems, not subjectively seeing them. Thats important and maybe even critical in key decisionmaking. Here's a few points that this can address:
1. Ramifications of the decision
Have you thought through the impact of your decision on internal staff, the implementation issues, its value v its premiss ROI? Have you though through its effect on Partners, Channels and their ability to remain Partners and Channels.In trying to come up with A good idea, see a problem and solve it, in trying to make decisions, you must first deeply understand the departments involved or effected by your scope of problem v solution or decisiopn making.

Let key people who deal with the area your decision will effect into your thought process. Lay out the issues, problems and ask them how your thoughts would effect their ability to deliver. Let them offer their experienced based insights. Your intended decision may be more upsetting than problem solving and, in this way, you will know it before you go with it.

2. Why Bother to Involve Others:
Sounds almost rediculous to ask but its how you justify and validate the merit of your path. Again, seek out the folks in sales, marketing, support, tech and manufacturing. Let them into your thinking and let them tell you if it effects them, how and if its even worthwhile. They can quantify the impact better than you because they know their side of the equation better than you.

3. Whats the machinery needed to implement the decision?
Very important because any decision must have the mechanics in place to become a real and implemented policy. Consider if you have the machinery in place for implementation. Identify who or which groups will be effected and get them to help you define and create the machinery so it gets done and it actually works as intended.

Great decisions fail when the mechanics of implementation are not in place and managed for taking the decision and implementing it.

4. After the decision is made...making it work
You made a decision because a "step" or "change" was necessary. Now you must make sure everyone is aware of the decision and how to "go with it". That means plan its implementation and include it as part of the process. Implementation considerations are critical to its success.

Each department needs to buy in for their reasons and see the decision as great for them. That means that announcements must be framed differently and precisely by department so it shows a correlation between the decision and how it impacts them specifically.

Dept heads must be involved in this framing and delivery of the decision and having the mechanics in place for implementation ready for instant management of the implementation.

Thats my take on the decision making.

Its not making the decision, its understanding why its needed, if and who it impacts and,if you go with the decision, implemented as seamlessly as possible so the intended results actually materialize.

Neil Licht, callhereweare@verizon.net