sales tips & articles

Objections are simply reasons or concerns that a prospective client has as to why they won't make a decision when you want them to. You will hear statements such as:

• Sounds good, let me think about it
• It sounds great but not just yet
• We do this already
• We don’t get any complaints
• Our reps do that
• I’m really busy at the moment and just haven’t had a chance to look at it
• I need to speak to my partner before I can make a decision
• I’ll have a look at it and get back to you in a couple of weeks.

There are many reasons for objections and they are not always negative. Objections are a great indicator and qualifier as to whether you will get the sale - depending on how you handle them at the time. The best way to avoid objections is to ensure you ask the right questions in the first appointment that uncovers your prospect’s real need. This ensures that you are making the right recommendation and can talk about the related value and benefits this solution will address.

The more work you do up front understanding their needs and what they would like to achieve, the less you will have to deal with objections.

Firstly, hear them out don’t interrupt or try and answer their concerns before they have a chance to finish. When they have finished, acknowledge the concenrn by saying "I complete understand how you feel. Some of my best clients felt that way also" or “I completely understand how you feel, this is a big decision and it makes sense for you to think about this."

Secondly, you need to be sure that the objection they give you is 'really' the reason and if you provide a solution to that problem, they agree to buy from you (this way it's a win/win).

For example: “The Price is Too High”

“I understand you might feel that way. If you don't mind me asking, if price wasn't an issue or we can agree on a price that suits your budget, do you feel this is the right solution/product/service for you?  or  “if we can agree on price, is this something you could order today?”

Additionally, if they seem reluctant to move ahead, keep asking questions to find out why. You might say something like:

• “Is there something else we should talk about?”
• “Is there anything else I can do to help?
• “What needs to happen before you’ll be ready to make a decision?”
• “Can you tell me what your hesitation is?”
• “When do you think you will have a chance to look at it?”
• “If I don’t’ hear back from you by Friday, would you mind if I give you a call?
• “A couple of my clients thought the same thing, would you be interested in speaking to some of our clients to see what difference we are making to their business?

If the customer is willing to move forwards but at a slower pace, you can propose a lesser commitment than the one you originally asked for. Try to get the best commitment that customer is willing and able to make that day.

If you can’t get a customer to make a decision or commit to a next step, try to get a date by which a decision or commitment will be made.

Reminder:

The notes you made on the first appointment will be critical to the objection and closing process and I strongly recommend you have those on hand for each meeting with the prospect. These notes give you the ability to remind the client of the benefits they were looking for by implementing your product or service as well as other information such as problems and challenges that they were hoping to reduce or remove altogether.

This sales article was written by Karen Andrews, Director of Shine Sales Solutions, a Sydney based Sales Coach and Sales expert that works with businesses to increase their sales through strategy development, sales coaching and mentoring.

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Being aware of and managing the amount in your sales pipeline each week, fortnight or month can have the single biggest impact to achieving your sales consistently from month to month and quarter to quarter.

It is an important forecasting tool that all businesses should use even if they don’t have salespeople, as it clearly shows how many sales to expect and when to expect them.

If your not sure what a Sales Pipeline or Funnel is; it is simply a list of all the prospective customers that have indicated some interest in buying your product or service. They will all be at different stages of the sale depending on their interest level and buying cycle and some will drop eventually drop out.



Information such as total sale value, probability of sale and expected close date should also be included to complete the picture.

The term “funnel” is used because you need to continually fill the top with new opportunities to ensure you have an even and consistent flow of closed sales coming out the bottom. The stages can differ from business to business (i.e. can be simpler with fewer stages), depending on how you sell to customers and what the buying cycle is.

It is important to make sure the funnel is always being topped up with new opportunities, that prospects are moving through the stages and sales are being closed. When you need to close some sales quick, it is easy to identify who is the closest to making a decision (thus easiest to close) by looking through prospects in the negotiation or solution evaluation stage.

The sales funnel is a great tool to help you determine if you have enough prospects and to reduce the impact of lost or delayed sales on meeting targets. It’s all in the numbers and that’s why sales is called a ‘numbers game’. To work out how much you need, follow my example:

1. Start with your monthly sales target, lets say it is $25,000.
2. Work out what the average sales value is, even if it is a rough estimate.
3. Determine your sales conversion i.e. of all the first meetings you had or enquiries received how many of those where you successful in ‘converting’ from prospect to customer. e.g. If you received 20 enquiries and made 5 sales, you have a 1 in 4 sales conversion rate. 
4. So you will need ‘4 times’ the amount of your monthly target in your funnel at any time. If we go back to the example, you will need $100,000 worth of quotes or opportunities.

This sales article was written by Karen Andrews, Director of Shine Sales Solutions, a Sydney based Sales Coach and Sales expert that works with businesses to increase their sales through strategy development, sales coaching and mentoring.

If you liked this article, subscribe to our monthly Sales Success ezine. You will learn...

* Easy ways to increase your sales and grow your business
* Simple strategies to sell yourself, even if your not in sales
* How to generate sales easier and quicker!

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Typically a cold call is the process of approaching prospective customers (called prospects) typically by phone but it can also be done face-to-face (via door knocking). The term 'cold call' is used because the person you are contacting has not asked you to call, is not expecting it and is not known to you.

Cold calling can be a legitimate and successful way of generating new business, if it is done correctly and professionally. This article refers to 'business to business' cold calling to generate an appointment rather than make a sale over the phone.

1. Use a friendly, conversational approach rather than a cold, direct approach.
2. Don’t try and sell on the phone; you can’t. You can, however, get a meeting or permission to send information.
3. Talk about how you can help that business or how you have helped other business. Don’t try and sell to them.
4. Name other clients that you are working with who are in a similar industry or who are a similar size to the company you are calling.
5. Set a goal for each phone call. Would you like contact information, a meeting or permission to send information.
6. Write down all the possible objections that you are likely to encounter and have an answer ready for them.
7. Target a particular Industry at a time so the script can be adapted and modified to their current situation, challenges or problems they may be experiencing.
8. Always treat Assistants, Personal Assistants and Executive Assistants with respect; they have the power to get you in or keep you out.
9. If you get through to the right contact and they sound busy or harassed ask them “is now a good time to talk?” should I call you at a later time?
10. Make your calls from 9.30am to about 11.30am and then start again around 2pm and go through till 4pm.
11. Set yourself a call target rather than a time target, it makes it easier to achieve.
12. Don’t leave messages; it is rare that anyone would call you back.
13. Ask or appeal for help rather than just going straight into a spiel.
14. Don’t be fooled into thinking that a person asking you to send information means they are interested...they are simply trying to get you off the phone!
15. If you send information by email make sure you follow it up the next day to confirm the person received it. This gives you the chance to ask them if they have any questions and gauge their interest in meeting.
16. Try and do your calls in a block of time, one after the other, after the other. After you have finished 10 calls, for example, then send out information or do follow up. This saves you reliving the ‘fear’ or the ‘pain’ of picking up the phone. After about 3 or 4 calls you will have established a habit and you will be much more confident.

This sales article was written by Karen Andrews, Director of Shine Sales Solutions, a Sydney based Sales Coach and Sales expert that works with businesses to increase their sales through strategy development, sales coaching and mentoring.

Stand out from the crowd when you cold call with our Do-It-Yourself Guide to Cold Calling.Click here for more information.


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* Simple strategies to sell yourself, even if your not in sales
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It’s difficult to ignore the news of the financial crisis that is occurring around the world and the fear and uncertainty that it is creating. Here in Australia many companies have been tightening their budgets and reducing their spending over recent months and it looks like it’s going to continue. So what does this mean for those of us running businesses or working in sales?

To me it means choices. You can:

1. do exactly what you have been doing in the past and hope that it works
2. admit defeat and tell yourself there is nothing you can do, or
3. sharpen your sales skills and see it as an opportunity not a threat

Opportunities, at a time like this? Yes because situations and events create opportunities.

It’s times like this that many businesses are open to discussing other options and some may even need to evaluate current supplier relationships. It’s a great time to get back in touch with old prospects, find new prospects and to spend time with customers to ensure they are indeed satisfied and happy with your product and service.

No matter how bad the economy may or may not be, people and businesses still have problems that need to be solved and they will still need help to solve them. Sales may slow but they aren’t going to stop.

Here are some ideas on how you can increase your sales and maintain your client base:

1. Maintain or increase your marketing, it’s important to remain visible.
2. Re-focus your sales team and talk about the opportunities.
3. Re-contact prospects that have been called over the past 12 months.
4. Pick up the phone and talk to your customers.
5. Work on your selling skills, particularly your questioning. Make sure your asking the right questions e.g. “Why do you think that?”, “What impact will that have”.
6. Dig deeper and uncover the real need or buying reason. “We need to improve productivity by 5%” is not the real need. Asking “why” will start to uncover the real reason.
7. Improve your listening skills and be an active listener. If you receive a response that is vague or you’re not sure what it means, ask questions.
8. Focus even more on the needs of your customers and your prospects.
9. Stay positive, it will rub off on everyone around you.

Remember, “When the going gets tough, the tough get going and the rest will just complain”.

Which one will you choose?


This sales article was written by Karen Andrews, Director of Shine Sales Solutions, a Sydney based Sales Coach and Sales expert that works with businesses to increase their sales through strategy development, sales coaching and mentoring.

If you liked this article, subscribe to our monthly Sales Success ezine. You will learn...

* Easy ways to increase your sales and grow your business
* Simple strategies to sell yourself, even if your not in sales
* How to generate sales easier and quicker!

Enter your details at the top of the page or click here