In the first episode of Hot Tip Thursday, Bill Caskey teaches a couple ways to close a Sales Call and ask the right questions before ending the conversation. Don’t miss this episode or the next, free of charge to all users.
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Statistics suggest that 70% of us are visual in how we take in information. I prefer to think of it that we are all 70% visual. Social scientists would tell me that interpreting that initial number in the second way is wrong but, oh well.
The bottom line is that if we want to understand something at a deeper level, I believe we need to learn how to draw it out, graphically.
I was in a conversation recently coaching a sales manager whose company had just been purchased by an outside firm. And the new sales model was very different than the old one. I asked him if he had ever explained the differences to his team. He said he had, and that it wasn’t taking root.
I then ask him if he’d ever drawn the old and new process out – side by side.
“Why would I do that when I’ve told them over and over and over?” Read more
To say that the discussion of money is the most important part of the sales process might be an over-reach. BUT, the fact is that if you aren’t willing to embrace the conversation about money, then you will be at a disadvantage further into the sales cycle.
Why do so many people have so many qualms with talking money? Well, in this Whiteboard Wednesday, Bill Caskey deals with it head-on, discussing the problems, the causes and the solutions that await you. As with any roadblock in the sales cycle, it all begins with “the inner game.”
A few years ago, I did a Webinar called “How to Sell A Premium Product in a Commodity Market.” It was one of our best attended webinars we’ve ever done.
Lots of interest in the topic – and I believe I know why.
In this article, I want to update some of the content and give you a couple more ideas. I picked this topic because it is an ongoing area of concern for sales people – how to sell a premium product into a market that sees price as THE main driver.
Why it’s so tough.
Think about it. We live in a “price leads” society. Advertisers have led us on a race to the bottom by the constant drumbeat of, “Lowest Prices In The Industry!” Or, “We’ll Beat ANY Price!” I know you’ll say, “But I’m not in the retail game.” No, you aren’t. But do you see the attitude that they’ve placed in the minds of buyers?
So the context is that even though your buyer might not jump to “What’s your price?” they certainly have it on their radar.
Here are four notions that I suggest you consider as you extract yourself form the “commodity dungeon” where the only important issue is price:
Interesting thing about positioning is that it’s not just about what you say – it’s about how you say it. Sales people spend so much time concerned with the “what” and ignore the “how.”
And that’s wrong.
Regardless of your word choice (you’ll have to decide that), the essence of your message should be centered around ‘the types of problems that you solve.’ That’s right – no enthusiastic sales pitches about how great you are – or how smart your team is. None of that.
Frame your ‘premium value’ around the pains and problems that prospects face. Some of those problems they know they have. Some they’re oblivious to. But either way, begin the conversation there.
Be a problem solver not a product seller. There is a trap waiting for you. The prospect sets it and you fall right into it. It happens when the prospect shows interest and you default to “the pitch.”
Instead, when your prospect shows interest in the types of problems you solve, refrain from pitching the product and spend more time diagnosing what that problem means to him. This one thing can do more to change your position (in the prospect’s mind) and help them see that your premium fee is worth it.