In this episode, Bryan and Bill address three sales issues from their clients:
- What do you do when the deal is going south?
- What happens when you’ve done everything you’re supposed to do and they STILL aren’t calling you back?
- What do you do when you’re in a rut and need motivation?
Bill and Bryan each have specific clients who’ve had these three very things occur. Listen as they play off of each other when solving them.
Also mentioned in this podcast:
- Join our LinkedIn Group
- A past podcast episode on How To Find Your Motivation
- Have a burning question for Bill and Bryan that you’d like them to answer on an upcoming podcast? Email them at firstname.lastname@example.org
- Email It! This eBook includes 20 pre-written, ready-to-use emails that address the most frustrating email scenarios salespeople face.
This is from a Question & Answer call our team recently did in our program called The Accidental Salesperson. As we were transcribing this, we thought we’d give you a peak inside our thinking when we answer client questions. (This is a transcription of spoken audio so forgive some of the clunkiness).
Q: “We are in a service industry and our biggest sales problem is overcoming cost objections.”
A: All objections are not created equal. The essence of an objection is that the prospect doesn’t believe that there’s any pain to not changing, or, there’s any pain to not choosing you.
So if I hear cost / price objections, you must conclude you’ve done a lousy job in two places in the sales cycle.
Sales Problem 1. Identifying The Problem
I’ve done a lousy job identifying the problem and attaching a cost to the problem they have. Or number two, I’ve done a lousy job of distinguishing myself against the other possible solutions that they have.
For example, we get asked to work with a company where we’re not the only option. They could go outside and work with other trainers and coaches like us, or, they can try to do it themselves.
There’s nothing that says they have to go out and hire trainers. The fact is that some companies can do it themselves. At least they could be marginally effective at it.
One Competitor Is Them Doing It Themselves
So my competitor is not necessarily the guy down the street who does similar things to what we do. My competitor also is them doing it themselves. Well, there is a perspective that people have that if I do it myself, it’s cheaper. Some of you are in business. I know a little bit about some of your business. You have that in your business, too.
I can either hire a realtor to go out looking for more commercial space or I can do it myself. But for certain solutions, doing it yourself is not a good idea.
First, it takes a lot of time. And often, people don’t put high enough value on their time like they should. If they only added up the time they spent doing things they weren’t good at, where it takes them five times longer to do it, they would realize quickly that hiring a professional is a much cheaper alternative.
So when I hear you say you can’t overcome cost objections, I would suggest that it’s probably because you haven’t done a good job upfront of nailing down the cost of the problem.
What’s The Cost of the Problem?
Once you have that, then the question is, “What kind of dollars are you willing to throw at the problem?” and if you can’t have a good, lively, honest discussion about that, then you’re probably going to get the objection that your prices are too high.
This goes for technical people who are doing add-on sales at a project. We work with a lot of CPAs, few of whom are natural salespeople. They’ve been trained to be a CPA and they’re very good at it. They were not trained to learn how to sell and market and manage the relationship.
Martha Beck wrote an awesome article in July’s O Magazine. While her article was about personal relationships, the brilliance carries over to business:
“……when you admit you are powerless over other people. This is the moment you become mentally free to start trying new ideas, building new relationships.”
Experiment to see what situations feel better than the hopeless cycle of depending on change from someone you can’t control. Attach to a process, detach from people or outcomes.
As sales trainers, we get frequent questions centered around cold calling:
- “What should my cold call sound like?”
- “Should I even make cold calls anymore?”
Even on Twitter recently, where we asked the question, “What is your biggest sales problem?” the answer came back, “How do I get the motivation to pick up the phone and call people who don’t know me?” @laurenkriner
So in this episode, Bill and Brooke disagree on the answer, but still offer advice in a Point-Counterpoint style on cold calling.
Many of our models in our world are broken, but it’s hard for us to reinvent any model unless we look closer at what it is now.
In this video, Bill Caskey explains how the old sales model of “convince and persuade” no longer works. He offers a new way to look at selling and gives one tip to help you get the power back in the sales cycle.
**This sales training video took place in Indianapolis, IN on 5/1/12 at the Caskey Refresher Seminar.
As sales trainers, we are guilty of making the sales process much more complex than it needs to be. There are a limitless number of options and objections that a prospect can give to you throughout the sales process, and so we make an effort to understand and counteract each one.
But that is a mistake. Instead, we should be focused on one thing: The First Call.
Because if the first call doesn’t go right, then the third call won’t go right. Consequently, in an effort to make to the first call correct, then you need to ask these three very simple questions of the prospect in whatever format you choose to ask them.
1. What’s the problem?
It occurred to us that the percentage of salespeople who counsel never get to the question of “what’s your problem?” After all, what else is move pertinent in the sales cycle than your solution matching up to a problem the customer has?
Once you can get to the point where you have a “spot-on” solution for the customer’s problem:
- price is irrelevant
- terms are irrelevant
- what you’re wearing is irrelevant.
In this episode, Bryan and Bill break down one of the most frequent problems we see when we coach sales people: the assumptive attitude.
That’s when you mistakenly assume you’re further along the sales cycle than you actually are.
- How to identify which of these prospects have issues
- What to do about them
Also mentioned in this podcast:
- Subscribe to the Advanced Selling Podcast on iTunes!
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