Handling Objections

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Why Your Buyer Turns Cold When You Start Selling…and what you can do about it.

Why Your Buyer Turns Cold When You Start Selling…and what you can do about it.

Business Development – Fly or Die?

There is no getting away from it, unless you are in a very specialist market, new business development and new business is the life blood of any business.

No matter how good your business is, if you’re relying on simply servicing existing customers then by definition your business may be exposed, over exposed some could say, to competitive forces.

So, for many, the skill the business displays in the field of new business development may fully dictate the value, growth, profit and market share of the business.

There is a clear and direct relationship.

Firms that are typically great at generating profitable new customers, generating new business, continuous new orders, and who can keep those customer happy and free from attack by competitors, by definition will enjoy greater business success.

So, if you or your business, are not getting the business results you want, need or feel you deserve, then take a look at the business development skills, focus and direction within the business.

10 Reasons Your Buyer Turns Cold When You Start Selling

Here are some of the reasons your business development efforts might be repelling buyers, instead of attracting them.

  1. You’re selling too hard, too soon, without fully understanding the buyers position.
  2. Your sales pitch is generic, lacking the nuanced detail required to convince the buyer you can deliver.
  3. The sales process and presentation you use is confusing, lacks flow, and/or is illogical, which just confuses the buyer.
  4. Your solution solves some of the buyers issues and concerns but not ALL of them.
  5. You don’t ask for the business, which means the buyer is again left confused.
  6. When the buyer asks a question, you act like it’s an objection and get defensive.
  7. You talk too much, and therefore don’t listen to what the buyer wants, simply assuming you know what he wants.
  8. You lack discretion
  9. Your sales pitch is neither educational, entertaining nor challenging, and so the buyer is no better off for talking with you
  10. You spend your pitch defending your firms position against competitors instead of detailing your expertise in a specific niche

Any one of the above can switch your buyer from hot to cold very quickly, how about if your buyer experiences a whole handful? Imagine the impact then.

Don’t Be a Business Development Disaster

  1. Take time to get to know your buyer, do your research
  2. Asking good quality questions is one of the key ways to make sure you and the buyer are on the same page…and stay there
  3. Take the buyer of a journey of exploration, challenges and insights – be a sales person of value
  4. Make sure you don’t start selling until you know all of the issues, concerns, challenges, buying stages, decision makers, budget, timescales and politics…
  5. Alway ask for the business. Always, even if it’s only an in principal yes. Likewise always ask for commitment from the buyer for the next stage
  6. Treat all questions, objections and comments as if the buyer is asking you to help him understand. This changes your mind set, your language, your attitude, your body language and your manner. From no on there are no such things as objections, only statements that seek clarity
  7. You talk for no more than 20%, the buyer talks for at least 80%
  8. If you are going to name drop, be very very careful about the details you disclose…
  9. Be an expert in your industry and be an expert in what your solution can do for your buyer, in his industry to solve his specific problem
  10. It’s your job to create such a pitch that your buyer sees you and your firm as a highly valuable partner/asset and one without competition. Acting to defend your position against competitors tells the buyer you’re scared

Business Development Summary

  • Don’t be just like every sales person that knocks on the buyer’s door.
  • Find a sales process that works for you and work it.
  • Be an expert in your field.
  • Understand that every single customer and buyer is different
What Next?

There is a whole world of skill in being a great business development expert.

You’ll find success comes easy, and the good news is, you only need to learn the skills once.

If you’re based in Sheffield or Yorkshire, then check this out – The Sales Improvement Workshop.

If you’d like your own specifically tailored sales improvement workshop – hit the link Fixed Price Sales Training

For a confidential chat about how to unlock the sales potential within your sales team, the contact details are below, call or email to book your confidential chat

Happy Selling

Carol

carol@mortonkyle.com, 0779 002 1885

p.s. if you’re serious about boosting your business development efforts then join us here. Totally free, no spam and you’ll get sales and business development insights straight into your inbox. Every week. Just hit the link The Advanced Business Achiever

Ready commit to being the ultimate sales and business development professional? Check this out TurboCharged Sales – the business development program for ambitious B2B sales professionals.

Not Demonstrating ROI? You’re Throwing Business Opportunities Away…

Not Demonstrating ROI? You’re Throwing Business Opportunities Away…

Demonstrating ROI is Critical

Demonstrating ROI is really that important?

Yes, it really is critical.

If your business, your sales team and their sales pitch can’t demonstrate ROI, then you’re leaving business on the table, and most certainly you’re leaving chunks of cash there too.

Without demonstrating ROI, you can’t demonstrate value, explore risk or maximise margins

And, if you can’t do these three things, then any attempt at a close is likely, at best, a shot in the dark.

(If you’re looking for insights into how you can build a strong relationship between value, risk and price then pop over here, and if you’re looking for insights into creating value hit the link here)

What Happens When ROI is Not Explored?

Yes, you’ll lose business

Yes, you’ll lose margin

But that’s just the tip of the iceberg, because you’ll also see:

  • A longer than necessary sales cycle
  • Competitor growth
  • High sales acquisition costs
  • Increase in performance management
  • Over staffed, therefore costly, sales units
  • A messy, inaccurate and out of control sales pipeline
  • Pie in the sky sales forecasts

Nothing fun about that list is there?

Here’s How to Demonstrate ROI

You and the buyer go in deep.

Stop talking about benefits, features, case studies, research, testimonials etc, those things are the bare minimum to be sat at the table, the minimum cost to be in the game…demonstrating ROI is where the magic starts to happen.

Demonstrate ROI in the simplest way brings clarity to your sales pitch, gives the prospect the opportunity to view your product/service in terms of real financial and cost context, and also means that the close is a very natural event, rather than a twisted fumble when the sales person sort of asks and the buyer goes into avoidance mode.

The prospect has to demonstrate, clearly, logically and with the full cooperation the financials and costs involved in making the purchase and the financials involved in NOT buying the service…now, to get to that stage takes skill, tenacity, trust, research, industry knowledge…in a nut shell, hard work.

Most crucially, the figures and the cost assessments have to come from the buyer, else they mean nothing and your sales pitch is built on sand…conduct the Sales ROI with the agreement of the buyer, and you’re home and dry before you ask for the order, because that shows buyer commitment.

Big time!

Seems too easy, once you know what you’re doing, the stages, how to frame the tough questions, how to deal with the wary buyer…of course it does…it’s so simple and so basic that most sales people can’t, or don’t, do it!

Look, it takes some highly consultative selling, some excellent questions and questioning techniques plus a real insight into the problems that your product/service solves and the cost of the problem in the context of your buyer’s business.

You also need to understand that when I reference ‘cost’ above, this cost is not just the financial cost. There are all kinds of costs to take into consideration.

BUT, the good news is that you really only have to learn to demonstrate ROI once. After that it’s a skill that will repay you many times over. In fact, if you’re anything like me, it’s one of my first go-to’s when I’m in any client sales environment and I want to improve the performance of their sales team.

You can get a great insight into how to demonstrate ROI on any of these courses

Fixed Price Sales Training

TurboCharged Sales

The Sales Improvement Workshop – Open Course and In house Program

Closing is Easy Once You’ve Demonstrated a Robust ROI

Many sales people think closing is the hardest part of the sales process. That’s why most sales people are scared to ask for the order.

But, the truth is, if you can effectively and efficiently demonstrate ROI, then the close looks after itself.

It really is that simple because you create a ‘NO-BRAINER’ situation for the buyer. You prove to the buyer that there is no way he can legitimately say no.

Demonstrating ROI

It’s the fastest, easiest, simplest, most effective way to increase sales close rates.

Don’t miss out.

Learn the basics and you’ll never struggle to close quickly and efficiently.

This is one of the key training points we cover on all of our sales training courses. If you’d like to discuss our bespoke sales and business development training solutions call Carol on 0779 002 1885 or email carol@mortonkyle.com

Happy Selling 

Carol

Plus: you can subscribe to our weekly (non-spam) Sales and Business Development insights newsletter. Great for sales team coaching sessions, sales team training and practical sales improvement. Get you email subscription here – The Advanced Business Achiever

Don’t get caught napping. Demonstrating ROI is the easiest way to immediately boosting sales performance, close rates as well as protecting margin.