March 2003  
 
INSIDE THIS MONTH'S ISSUE
Knowing When to Ask for Business
The most exciting part of any sales presentation is hearing prospects say yes after you've asked for their business....MORE
The Truth Behind Objections: A Tale of Two Salespeople
Consider two salespeople, Susan and Brian, who work for the same company. Both prospect and sell from the same number of pre-established leads every week....MORE
Making a Lasting Impact on Your Clients
We all know that first impressions cannot always be trusted. Haven't you ever met someone and quickly made some conclusions about him that you later found to be completely off base?....MORE
HIGH TRUST SELLING
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Knowing When to Ask for Business

The most exciting part of any sales presentation is hearing prospects say yes after you've asked for their business. Once you've made an impact with your sales presentation, there will come a point when you must ask for the prospect's business; and if you've done a good job of establishing trust and adding value to that point of the sales interaction, getting a yes shouldn't be difficult. In fact, there will even be occasions when you don't have to ask for business, but only confirm what a prospect has already made known to you.

The following is a very simple, four-step process for asking top prospects to become trusting partners without begging for their business.

Step 1: Know when to ask. I've found that knowing how to read a prospect's buying signals helps to avoid an awkward situation. Here are the main ones to look and listen for:

1. Positive body language

> Leaning forward, smiling, nodding the head, becoming more active in the conversation

2. Price interest: The prospect asking,

> "How much does it cost?"
> "What is the price of this one?"
> "Is that all it costs?"

3. Value Interest: The prospect asking,

> "You would do that for me?"
> "It can do all of that?"
> "It comes with all of that?"

4. Questions about deliverables: The prospect asking,

> "How soon can I have it?"
> "When could it be delivered?"
> "Could I have it by then?"
> "Could you do it by then?"

5. Request for referrals: The prospect asking,

> "Who else is using this that I know?"
> "Do you have a list of clients whom you've served?"

6. Positive comments

> "That sounds like what I have been looking for."
> "I love the way this feels."
> "This is top-quality stuff."
> "I can't believe after all these years that I don't have one of these."

Step 2: Know how to ask. Sales trainers are notorious for telling people they need to memorize and practice a long list of closing techniques then learn how and when to "fit them in" the conversation. But the fact is that if you've established trust with the customer, when you're ready to ask for business, all you need to say is something like, "Mr. and Mrs. Smith, based on what I have proposed [or "what you've seen," "how you feel," "your evident interest"], do you feel we have a basis for doing business together?" This is the only closing question you should ever need if you've established a high level of trust. Nothing fancy, not seventy-five different closing techniques to memorize. One simple, straightforward question that elicits one of two answers: yes or no. And when a prospect's answer is yes, your high trust relationship is off and running.

Step 3: Know what to say next. It's important to maintain the momentum of the relationship by agreeing on what the next step is right away. I always advise my students to try to avoid turning this part over to the prospect. I am a big believer that you must maintain control from this point to the end by keeping the dialogue alive. One of the most effective ways to do so is by affirming (or reaffirming) the value that you intend to add to the clients throughout your relationship. This will act as a timely reminder to your clients that you have their values and needs in mind.

Step 4: Know what to do next. Every new client relationship must have an active growth plan if it's to flourish from the start. Regular partnership planning keeps the energy alive in a high trust relationship and fosters clients' desire to continue giving you their business. I found that it is most effective to set up a series of contacts up front so that you can focus and grow the relationship right off the bat. I recommend setting up not only a series of meetings or phone calls that will take place throughout the fulfillment process in order to keep your clients well-informed; I also suggest that you indicate your desire to continue meeting (at least annually) after the sale is complete in order to foster the relationships and open the door for referrals.

The Intermission

We would all like to be in a position where we don't get objections. But no matter what you do, people will always fear change and will often find some reason to object-even if it's just out of habit. That said, however, the number-one reason salespeople get objections is because they haven't effectively followed a strong selling process. In other words, objections are mostly the fault of the seller.
If you do too much talking during a presentation and throw lots of features their way, it increases prospects' sensitivity to price. If you talk too much about unrelated benefits, it increases prospects' sensitivity to integrity. If you don't thoroughly present solutions, it increases prospects' concern for capacity or capability. What I'm getting at is that objections are the symptoms of a poor selling process, which in the end merely propagates a lack of trust. But if you master the process of approaching, interviewing, presenting, and asking for business, you will reduce your objections significantly, if not eliminate them all together.
Nonetheless, if you understand how to address and offer a solution for a need that arises from a high trust interview, you can effectively address objections the same way when they do arise. By taking time to ascertain the root of an objection-by asking simple questions like you did in your interview-you can determine whether it's connected to a real need that you can solve. Once you've managed objections a few times you will find that most are directly connected to prospects' needs and can be solved by preparing simple scripts (which you may have already written and practiced). Before long, most of your objection management duties will simply become objection prevention-an intermission in your sales performance, but certainly not the conclusion.
There will be an occasion, however, when a bull's-eye prospect will say no to your solution offering, despite effective preparation, presentation, and objection management. At this point, it's important to remember that if you thought enough of the prospect to target him in the first place, you should not give up immediately. While it's important that you don't spend an unreasonable amount of time fostering relationships with prospects that have yet to provide business, it is certainly reasonable to maintain regular contact with such prospects in hopes of eventually securing high trust and, subsequently, their business.

When it comes to maintaining contact with top prospects that are not ready to do business, I recommend that you keep two things in mind. First, make certain that time committed to investing in the prospect wouldn't be better spent on deepening relationships with existing high trust clients. Then, once that has been established, commit to adding value to the prospect through letters, phone calls, E-mails, etc., once a month for a minimum of two years. While some prospects will commit their business to you in less time, many of the top prospects in your field will have an established relationship with a competitor; and that usually takes more time to overcome.

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LEADERSHIP TO LEGACY
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The Truth Behind Objections: A Tale of Two Salespeople

Consider two salespeople, Susan and Brian, who work for the same company. Both prospect and sell from the same number of pre-established leads every week and both have the same resources at their disposal in terms of marketing and follow-up material. However, Susan makes three times as much as Brian does-and that has been the case for the last 3 years. Why? What set's her apart? There's really only one reason. And it's that reason that makes her the leader in their field.

You see, when Brian receives an objection from a prospect, he takes it personally and lets the relationship go. As he sees it, his job is to find those prospects that will meet his needs-who will find nothing objectionable about him, his selling techniques, or his product-whether or not he's doing things right. And that's why Brian doesn't do much selling-or rather, why Brian's prospects don't do much buying, at least from him. For Brian, selling is all about him. And no one wants to get behind a selfish salesperson.

Susan, on the other hand, goes about things differently. When she receives an objection from a potential client, she sees it as an opportunity to improve, an opportunity to better customize her offering and more thoroughly meet her potential clients' needs. And as a result, many of her stable clients today-10 of them to be exact-are actually former prospects of Brian's who had objections that he was unwilling to consider. Not only do those ten clients provide Susan business that keeps her well ahead of her colleagues, they also make up nearly half of her entire client base from which she generates three times more sales and income as Brian-and spends half as much time in the office.

In this story, it's easy to see who is leaving a worthwhile legacy. Now, what about your story? When objections come are you unwilling to look beyond your own ego, or are you more interested in creating a legacy of value for those to whom you sell? If the latter is true of you, then you are either already a leader or on your way to becoming one soon. The choice is yours because, you see, objections don't make or break you-they reveal you.

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DESIGNER LIVING
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Making a Lasting Impact on Your Clients

We all know that first impressions cannot always be trusted. Haven't you ever met someone and quickly made some conclusions about him that you later found to be completely off base? It happens all the time doesn't it? At a meeting, a corporate executive meets an executive from a competing firm and immediately assumes he's obtuse and a little suspect of character. After all, he's the enemy. Then, three weeks later, the two cross paths while at a movie with their kids, and they hit it off. They find out that they actually graduated from the same university and their kids currently attend the same elementary school. It changes everything.

Initial perceptions about people are often inaccurate because they are based on shallow knowledge-simply knowing things about a person. And when you consider the stereotype that most associate with salespeople, it becomes increasingly important that you overcome the sleazy, selfish salesperson stigma as soon as possible. To form an accurate impression of a person, you must go deeper-you must get to know him, his values and desires. That means you must not only get to know your prospects and clients, but you must also allow them to know you as accurately and as early as possible. The best way to do this is by making an early impact that creates a positive and lasting impression. While first impressions may not always seal the deal, they will certainly salt the deal with more flavor.

To ensure that your prospects are captivated from the get go and remain your clients for the right reasons, remember the acronym, I.M.P.A.C.T.

Inspirational: If you're not inspired by what you are offering a prospect, then he or she won't be inspired to keep listening to what you have to say. This goes back to the reason you are in sales in the first place. Make a promise to yourself to only sell what you're inspired to sell.

Motivational: To create a resounding impact means you must motivate your prospects to act. When a prospect can experience values gratification from the start, the sale is nearly always a done deal. That then means that you must be in the business of ascertaining and meeting the value standards of your prospects from square one.

Professional: It goes without saying that everything about you must be carried out with the utmost professionalism in your sales presentation. That doesn't mean being stuffy or stoic. It simply means that you can't afford to skimp when it comes to dealing with the prospects and clients you desire to serve for life. Think of it this way: If they are the best for you, they deserve the best from you.

Applicable: You must determine beforehand whether the sales effort is truly worth your and your prospect's time, and move forward if and only if the presentation can lead to a long-term, lucrative relationship for both sides. Think of it this way: Your prospect's doubt will cease or increase in direct proportion to your confidence in the future of the relationship.

Considerate: Don't be so revved up to offer your solution that you are inconsiderate to your prospect. Be excited at what you have to offer, but also be willing to listen to what your prospect has to say. Always bear in mind that your most loyal clients will also be your friends and therefore should be treated as such from the very beginning. Listen first. Ascertain needs second. Talk third.

Trustworthy: The bottom line is that your offering must be sincere if it is to make a measurable impact. Remember that even if you are a trustworthy person, if your product is not reliable, you are not reliable. Make sure that both you and what you sell are aboveboard and worthy to be trusted.

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