Monday, November 7, 2011

The Seventh Key of Highly Effective Selling

7) Get a Commitment

Getting a commitment is the actual solution to the problem. If the customer gets off the phone or leaves your place of business without a solution we have failed to accomplish our objective. (Remember they wanted to buy from you, right?)
You are wasting your time and the time of your customer if you are not willing to ask for the business. Your customers expect to be asked – they want to be asked. It’s that simple. If you have fear around asking or being rejected, get over it or get someone to help you with this final step.
FACT: Statistics show that when you ask for the business directly after giving a price, you will get the business 150% more than if you don’t ask for the business after giving the price.
So maybe that little thing called “fear of rejection” is nagging at you. How can you be sure they will say yes? Well the answer is to not be afraid of a “no”. I mean what is the worst that can happen? A “no” doesn’t mean anything about you, so don’t personalize it. Every now and again we have to play psychologist and do some role reversal. If you were the customer, looking for a product and wanting to buy, why would you say no? What are the road blocks to a yes? Without being pushy, ask some clarifying questions. What is the basic need of the customer? What are the limitations? Is there room for flexibility?

The real objection is not the price. It is making sure the customer sees the value in the price. Yes, today they can go “Google it” and find 10 other competitors that have the same product as you. But what will set you apart is your attention to the customer’s wants and needs, your knowledge about the product, your ability to build a relationship and your willingness to be assertive about the sell. Being confident in yourself will show, and it will help the customer trust in you on their way to getting their wallet.

Let’s look at the typical objections you get when the customer does not want to buy your product or service. In general, all objections turn out to be a version of the same four reasons. Though customers may call their objection by different names, they are the same basic issues with the same practical solutions. This means that the objection is something that is usually a practical, manageable situation for which we can prepare.

There are really only four basic objections. Every objection is some version of: 
  • I am not the decision maker.
  • Price is too high or more than I expected.
  • Not time yet.
    • I’ll call or check back later and let you know. (this is a “no”)
    • Just send me a quote in writing. (this is also a “no”)
  • Shopping ahead and just trying to get prices.
If they say “no” ask or acknowledge their objections. Let them know that you heard what they said. Remember, as a consultant, in order to meet their needs you need to understand their reasoning. Sometimes restating their objection is enough. Other times, you will need to probe further to find out specifically what does not work. You can do this by simply and non-defensively asking the customer, “Why?”
- Customer: “No thanks.”
- Rep: “Okay. Can I ask why?”
- Customer: “I don’t like the price.”
- Rep: “What specifically about the price don’t you like?”
In this example, the salesperson responds by acknowledging and restating the customer’s objection in the form of an open-ended question. This is the beginning of a dialog that will help you ask the necessary questions to overcome their objections or at the very least continue to build rapport that will pay off for you later.
Just remember, you get more business if you ask for the business after giving a price. So don’t be afraid to ask, the answer could give you just what you are looking for.

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