Showtime - A Day In The Life! part 2

Showtime - A Day In The Life! part 2

Happy Friday!   "All the world's a stage, and all the men and women merely players: they have their exits and their entrances; and one man in his time plays many parts, his acts being seven ages." William Shakespeare   Each day in the life of a sales person is filled will possibilities.  Relating it to theater and movies, we can have comedy, tragedy, drama, action and the occasional science fiction (yes, some things will be stranger than fiction!). All in all, the things that make sales challenging are also what make it interesting and rewarding.  The opportunity to meet a diverse group of people, with various situations, but all needing something we have to offer. That is why I say sales has three rewards - Emancipation, Gratification, and Remuneration. I had told all of this to the young man I was mentoring prior to him getting his first 5 appointments.  Now was time for the "dose of reality" of what an acutal day may look like.  I continued giving him the lowdown on the possibilities of his day;  The Showdown -  "Have you ever seen a child who refused to eat his broccoli?  Pouted mouth, folded arms and a stern look on their face?  That is what you face sometimes with clients.  They barely answer questions, refuse to "warm up" and you will begin to wonder why you are there.   "What do I do?," the young man asked.   "You stay the course, and continue to demonstrate your product and it's value," I answered.  "Some people are going to resist your anticipated "sales pitch" and be on guard.  Their defensives can come down as they see the benefits of the product.  If you remain even keeled and sincere, they will sense they can trust you and your motives.  The combination of trusting you and the prouduct can turn a frown upside down.   "Will I get that sale?"    "More difficult clients require a little more skill, but with time, these are the clients that the best sales professionals "win over".  I know you can do it...so yes, another close! The Show Must Go On - "Your next appointment begins well and you feel that you have a certain sale.  They answer everything in the affirmative, ask great questions, and give you all the verbal and non-verbal buying signals". "Sounds like I will be 3 of 4!" he said excitedly. "Not so fast!  Even with things going well, until you have closed, you have to remain diligent and take nothing for granted.  You have filled out the paperwork, and gotten everything ready, but right at moment of completion, they begin to get cold feet. You review the product, handle all the objections a 2nd time, and despite all your efforts, they are still too uncertain to complete the transaction."   "How can they not buy when we have come so far?"   "Great question.  Each client has their own buying psychology and some people truly have a difficult time committing to a decision.  Your best bet is to use the "Take more time to think" close and move on to your next appointment...follow up with them later...   "Will I eventually get the sale?" he inquired.   "Maybe...but for now, the show must go on to your last appointment."   The Show - Off - "Your last appointment has been waiting for you all day.  He has his paperwork spread out on the table and his laptop open.  Before you can even begin to demonstrate your product, he goes through the litany of information that has gathered.  He goes through your competitors products and their benefits...and shortfalls."   "I have lost control already...that can't be good," said the young man.   "That depends.  If you are just there to be another quote for his arsenal of companies, then it could be challenging.  But many times the prospect just wants you to see that they have done their homework and understand what they are buying.  They want to "show-off" the fact that they are educated consumers."   "What's the approach with this one?" he asked.    "You allow him to "sell himself" - You are there because he is committed buyer and wants to be sure he makes the best decision.  Some sales people don't like shoppers because they feel price is all that matters, but I have found that informed consumers are looking more for full value...and price doesn't always determine value.   If you can differentiate yourself as a person who will service the clients needs and your product fits the value equation, I think you will close this one."   "That means I would close 3 of 5...60% closing ratio," he said excitedly.   "And that would be a great day!  What you have to realize is that there will be days when you are 5 of 5...and 0 for 5.  The key is not to let one "bad act" spoil a day or a week.  It is all part of the life you are now embarking on in this thing called sales.  Understand that with each opportunity you have to be ready for...   Showtime...A Day In The Life!     Until Monday, I wish you Money, Power, Success!

Showtime - A Day In The Life! part 1

I woke up at 4:30am the other day for travel.  I was groggy and disheveled and the look on my face was not that of a vibrant international author, speaker and trainer.    Looking in the mirror it reminded me of Roy Scheider in the movie "All That Jazz".  Despite being weary and a little worn down, he always exclaimed,   "Showtime!"   Lights...Camera...Action!   For people in sales, that's the way each day should start.   Regardless of how you feel, you have to get ready for your "close up".  I dressed, got packed and headed out the door excited about the opportunities that were in front of me...it was a great day!   Speaking of great days, I got a call from a young man I have been mentoring that just got started in sales.  He is bright, enthusiastic and willing to do whatever it takes to be successful.  Newly licensed and totally green in sales, he had gotten his first day of leads.   He was nervous and called me to ask for words of encouragement and advice.  He listens, so I never have a problem talking to him.  I told him that this was not his "moment of truth" but more like the opening act to a great play.   That was the encouragement...then I hit him with the "real world" advice.    He had 5 appointments and I told him that there were 5 possible "shows" he would be a part of and that the best thing he could do was to be prepared for them if/when they happened.  I told him he as about to embark on a journey that would become his new normal...a day in the life of a professional sales person.   I began;   The No Show - "There are few things more disheartening than getting ready, driving an hour, ringing the doorbell, with thoughts of a sale on your mind, only to find out...no one is home!  The No Show is the first "harsh reality" of the life a professional sales person - the road warrior."   "The office set a bad appointment." "I bet they are really home, let me go around back." "Did I get the wrong time?"   I told him, "It would be easy to let that ruin your day, but you can't afford to contaminate the rest of your day with negative energy.  Get a supply of 'Sorry I Missed You' door hangers, call them back later in the day and get ready for your next appointment.   The No Show is a part of your life...it is a part of the metrics that will get you to the target income you have established.  It is not good...but it is not over!"   He answered, "If I am prepared for the worst then nothing should surprise me or throw me off...what's next?"   The Dog and Pony Show - "Your next appointment will be home and actually waiting for you to arrive.  They will offer you a drink and a snack and make you feel at home.  You will get to do a full demonstration and show them all the benefits you learned in training."   "That's a good thing, right?" he asked.   "Of course.  You will get to experience what an interactive sales transaction looks and feels like.  You will ask questions, they will answer and the process moves logically toward a positive conclusion..."   "A sale!" he said enthusiastically.   "Yes, and one where you feel you did all you could do to educate, enlighten, and engage the prospect.  They will tell others about you and you will get referrals."   "The day is getting better," he said.   "Ahhh, but the day is not over.  You have three more appointments to run and three more "shows" to do.  Get used to the highs and lows, the good, the bad and the ugly.  All of this is a part of..."   Showtime...A Day In The Life!    Until tomorrow, I wish you Money, Power, Success!

It's Closing Time! part 3

Objections.   Can't sell with them...can't sell without them.   Some objections come from a clients "sense of duty" to the sales process.  They understand you are there to sell them and some resistance is protocol...no one wants to be a pushover.   But some objections are real showstoppers.  The key is getting to the major objections - the ones that really keeping them from buying.   Normally, the Investigation Stage of the sale reveals what they need and why.  The Demonstration Stage shows off your product and provides the benefits to the uncovered needs.  It is in the Closing Stage that objections should appear and you now have the opportunity to handle them and obtain the sale.   How do you get to the real objections?   You ask.   Could it be as simple as saying, "What is your major objection to buying today?"   Yes...it could be.   Since that could be off putting to some of your clients, we have closing techniques.  They are designed to push the "hot buttons" that will convert a fence sitter...into an action taker...a buyer!   Let's take a look at a few more;   The Ben Franklin Close - Good ole Ben Franklin.  Sure, this one dates me a bit, but versions of it can still be effective.  On a piece of paper you make two columns.  On one you write a list of "Pros" - the things they like about the product and it's benefits.  On the other side you list the "Cons".   In a simple world, the pros would outweigh the cons and they would buy your product. Sometimes, there is more "emotional weight" given to something on the con side.  In that case, the list can help you identify the real objections and begin working on them.  It also works well when you have two products and the client has to decide between them.      The Special Offer Close - Everyone wants more...right?  Ever noticed the "As Seen On TV" products always have a special offer at the end?     "Wait...there's more!  If you order now, you will receive not one but two..."  Or the late night infomercial product that costs 3 payments of $39.95 but if you act now, they will make the 1st payment?   Special Offers can come off cheesy, but they are highly effective when done properly.  If a client is leaning toward buying your product, then something "special" could close the deal.  Many products don't lend themselves to special offers or discounts, but for those that do, a good offer can do wonders.   Need Payoff Close - This is a technique from SPIN Selling that focuses on a questioning model (Situation-Problem-Implication-Need Payoff) that can be very effective if used to build the urgency for your product.  Once the client has expressed an explicit need then you provide the "Need Payoff" in the form of a question.  The major difference in this approach is that you "close" before you fully demonstrate your product.   "Mr. Jones, in our discussion, you stated that you have had challenges in the past.  If I can provide you an effective, reliable and cost effective solution, would that be valuable?   The What Can I Do To Earn Your Business Close - I have been involved in some "marathon" sales calls.  The prospect didn't kill the sale but they kept dragging it on.  Fear, procrastination, or some minor objection would keep them from committing.  At some point, you have to ask the direct question;   "Mr. Smith, we have discussed your needs and  I have demonstrated how my product meets all of them, but you are still on the fence.  What can I do to earn your business today?   Simple and straight to the point.  Yes, it puts the prospect on the spot, but under the right conditions, it is necessary to push to get them to be decisive.  Do you run the risk of them saying your cant earn their business?  Certainly, but you will never close 100% of your clients.  I would rather hear it from them now than invest another hour to have the same outcome.   On your next sales call, be intentional about the approach you use to Investigate, Demonstrate and Close.  Many sales people "wing it" and then get so far off track they can't recover.  Lay a foundation that keeps you linear and focused on building need and handling objections.    And above all, always remember...   It's Closing Time!    Until tomorrow, I wish you Money, Power, Success!

It's Closing Time! part 2

Instincts.  The formal definition from Dictionary.com is   "A natural aptitude or gift."   "Natural, intuitive power."   My momma used to say about peoples instincts for singing...   "It ain't about being able to hit the high notes...it's knowing when to hit them...and when not to."   Momma knows best!   How are your closing instincts?   It is about knowing when to push, when to back off...when to give more details, when to get quiet...when to speak and when to listen.   After years of honing the craft, it begins to have a rhythm...a cadence.  Not that it is routine or "I have heard it all before" bravado...it is instincts.   Closing instincts is rooted in understanding human behavior and creating a "verbal resonance" that hits the chord just right and gives the prospect confidence to act.  When you develop it, and it can be developed through experience, instincts can help you close sales that others wouldn't have a chance to close.   Then you are in a special category.    Let's take a look at more closing techniques and you can see which ones feel "instinctual";   The Trial Close - "Go get your checkbook" would be considered a "hard close"...a trial close is more testing the waters...sticking your big toe in before you leap.  In a fluid sales process, you should be using Trial Closes continually, without being too obvious...right after "hello".   "Mr. Jones, I appreciate you letting me come and speak to you about your landscaping project.  How long have you been thinking of getting this work done?"   The trial close is not explicit, but implies that the prospect is ready.  It is subtle, or not so subtle, suggestions that they are in a position to take action on your proposal or product.   "I have my spray can handy, where would you want to biggest trees to go?  No worries, you can always change your mind later, but this gives us a better visual of the finished plan."    "I like the idea of crepe myrtles lining the driveway...it will give a stately appearance.  Do you envision the pink, white or lavender variety?"   Trial closes are good for capitalizing on affirmative buying statements made by the prospect.  It allows you to set the stage for the "real close" without appearing to "salesy".    The Lost Opportunity Close - Some people are truly mulling over an offer (See the "Take Time to Think Close from earlier)...and some people are just procrastinating an important decision.  Such as life insurance.  We all believe we have all the time in the world to decide. You have to show them otherwise;   "Mr. Jones, this particular policy issues based on last birthday age.  You are just 3 months from your next birthday.  Based on that age, your premium would increase by $10 a month, or $120 a year, or over the full term $2,400.  Additionally, the interest earned would have increased that amount to almost $7,500...of lost value.   What could you do today with $7,500?    That is the high cost of waiting, wouldn't you agree?  Let's take care of this important matter today and give you piece of mind...and $7,500."   There has to be something a stake to get them to move past procrastination and decision avoidance.  If your offer is truly time sensitive, like special pricing, make sure they understand the impact of indecision...another life insurance approach;   "Mrs. Smith, I have had clients who enjoyed great health, just like you do today, and could obtain the lowest rates.  An unexpected illness then put them in another heath category and their premiums increased dramatically.  Some were not able to get immediate coverage.  We never know when things might change...let's do this today while everything is favorable."   The Testimonial Close - I remember years ago when fitness guru Bill Phillips began his Body for Life contests.  It was the precursor to P90X and Insanity.  He offered $100k to the winner that had the best body transformation.   He had 100's of photos of people who did his program and drank his meal replacement shakes.  As I scanned the pictures, I naturally gravitated to those that looked like my "before", but also represented my ideal "after".  With this simple pictorial testimonial...I bought the program and food.   You can effectively use the Testimonial Close to create a higher level of credibility and create "referrals" from your satisfied clients.   "Mr.. Jones, I have many clients who were a little unsure, just like you, but after experiencing the product and my level of service they are so happy they are willing to act as a reference.  Why don't I arrange a call for you to speak to a couple of them?   Mrs. Smith, I have helped 100's of clients and many have given glowing testimonials...here are a few of them in my client "Hall of Fame" binder. (Referrals letters in a nice binder.)   You can also use third party testimonials but be sure they are believable, genuine articles.  People want to know that others have used your services and have been satisfied...that is why Amazon reviews are so powerful!   We will review a few more closing techniques over the next couple of days, but continue to develop your own...after all...   It's Closing Time!   Until tomorrow, I wish you Money, Power, Success!

Your Best Sale Ever! (part 2)

Happy Monday!

 

We left of on Friday with me relaying a story of one of my best sales ever.  Let me give you a quick recap (or click here to read);

 

I was young and selling insurance and annuities.  I had gotten a lead for a friendly older couple who had lost money in the crash (not that one - 1929...or that one...2008, but 1987!).  Their son was also there and wanted to control the transaction.  He was cynical, mistrustful and condescending.  There was a thick tension in the air to say the least (ever had one of those?).

 

I had just given my pragmatic overview of what it would take to make things better for his parents.  It was delivered with authenticity and sincerity...a winning combination.

 

His reaction;

 

"That was well spoken but doesn't convince me that we should work with you.  No offense, but you look all of 25 and probably inexperienced. My parents have sizeable assets and we need to be sure we get with someone who knows what they are doing." 

 

In my sales training I talk about Relaxing and disconnecting from the outcome of the sale. At that moment I only had one Desired Outcome - to simply get a Needs Analysis started...not actually sell them anything. 

 

I would treat the Needs Analysis as the close before the close...so I answered calmly, as you will never win an argument with a client,

 

"Let me give a little information about the company, and the process we would use.  Our company is highly rated, even in this economic environment, and all cases the size of your parents go through three levels of review before final submission and approval.

 

In fact, you will have access to some of the best financial minds in the world. We would also evaluate your situation no less than annually with a personal review to make sure your goals are being met or make adjustments to the plan."

 

Then I went for the "Did you order the code red close?" from A Few Good Men...I had nothing else to lose...right?  I continued,

 

"Candidly, I don't think yours is an issue of my experience, but one of trust. Trust is something built on integrity and sincerity...not solely experience. You should run from anyone that promises your parents won't lose money.   No one is in that position.

 

My promise to you is to leverage my company's vast resources and products to develop a strong plan. More importantly, I will take the time needed to explain it to you and your parent's satisfaction.

 

If that sounds like an approach that warrants additional discovery, then I would be honored to assist. The financial needs analysis does not obligate you in any way, but will reveal strategies that can accomplish your goals. Based on that, it is entirely up to you if we should continue?"

 

With that, I concluded and let silence to its work.

 

After moments of awkward glances between them, Mrs. Prospect spoke directly to her husband.

 

"My vote is yes - I like the way he sounds and, eventually,

we will have to trust someone, right?"

 

Her husband concurred and despite additional resistance from the son, we were off and running with a financial needs analysis.

 

I did place several products with them but the lions share went to another company.  The victory for me wasn't in getting all their money but putting myself in a position to have a chance. I proved a lot to myself that day and it has helped inform who I am as a sales professional.

 

Likely, you have some similar defining moments in your experiences and career.  If not, you will.

 

The key is to build a repertoire you can use to handle objections, to gain agreement and close sales.  You have to maintain your identity and sense of purpose in the process...all the while working hard to close sales to make a living.

 

Is that possible?  Yes.  Sales professionals do it every day.  In your industry, in your company, and in your city. 

 

Over the next few days we will continue to look at closing techniques.  Learn and apply what you read.  Something tells me you are yet to have...

Your Best Sale Ever!

  

Until tomorrow, I wish you Money, Power, Success!