Shifting Buyers from Price to Value

cheapchick

We have all come across those customers who seem to be obsessed with getting the lowest price. They will jump from one vendor to the next, just to save a few dollars. Many times, it is not worth your energy to try to keep these customers, because as soon as they find a cheaper price, they will jump ship. Sometimes, you come across a customer who is too great to pass up, even if they have a hang up on price.  In this case, you need to be proactive if you want to hold on to them for the long haul. Here are three things to keep in mind when you encounter the price-obsessed customer: 1. Are you talking to the right person?  Just because "Jane" calls you to set up a meeting, does not mean she … [Read more...]

How to Shorten Your Sales Cycle and Close More Sales, Part 2

apr1

In my previous blog post, I advised a salesperson on how to shorten his sales cycle. I realized I had more to say on the matter, so here are some other things to consider when you are trying to shorten your sales cycle and close more sales: Salespeople often fall into the trap of trying to be friends with their customers.  This can backfire, however, because without the formality and structure of a business relationship, the sale can get stuck in limbo. Salespeople need to remember that it is their job to manage the relationship. You do not do customers any favors by letting the buying process drift along. Doing so wastes your time and their time. There is no shame in having a customer … [Read more...]

How to Shorten Your Sales Cycle and Close More Sales

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Here is a question I recently received from a worried salesperson: "Paul, I have a problem.  Four years ago, when I started in this position, my sales cycles were pretty short.  I was often able to get a customer to sign a contract within one to two months of our first meeting.  These days, it can take four to six months to finalize a contract! As far as I can tell, I am not doing anything different.  Customers just seem more reluctant to commit these days.  They push off making a decision for a "few weeks" and before I know it, a quarter has passed.   What can I do to shorten my sales cycles?" Despite the popular idea that salespeople are all pushy and ruthless, most salespeople … [Read more...]

Trigger Words that Get Customer Buy-In

key-words

As a salesperson, you need to be aware of the unconscious reactions that customers have to certain words.  You want to be careful to avoid words that will turn a customer off or put him or her on the defensive. When you say to a customer, “I’m here to show you how our products . . .” defenses immediately come up. Show is a negative trigger word. It signals alarm bells in customers' brains that you are going to bore them with samples or pamphlets or a PowerPoint presentation. Help is also a negative trigger word. Think of how many times you have walked into a retail store and an employee asked the question, “How can I help you?” What was your instinctive response? “Oh, I am fine, just … [Read more...]

Disrupting Existing Vendor Relationships

breakApart

I recently met Sam, a young man who works as a salesperson in the rural Mid-West.  His company is the "new kid" in town, and he is having trouble gaining traction with locals.  Sam told me that in the past few months he has met with many prospects, and almost all of the meetings end the same way.  The prospect tells him, “It was great to meet you, but we have been using the same supplier for the last twenty years and we’re happy with them, so we just wouldn’t be interested in what you have to offer.”  Sam has not been able to come up with a way to reply to that statement that would keep the prospect from walking away. What should Sam do? Sam, and anyone in his shoes, should sell the … [Read more...]