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How High Performing Sales Teams Close More Sales

How High Performing Sales Teams Close More Sales

High Performance Sales Closes are like Unicorns.

They exist, but no-one has ever seen it. Yeah, you know it.

And the truth is – really successful sales people ask for the business, of course they do, but they never, ever hard close, because they just don’t need to.

High Performance Sales Pro’s 

Have a totally different way of closing more sales.

They simply don’t rely on the close. Not at all.

They don’t ask for the business until they know the answer will be YES!

In fact, some of the sales high flyers will wait for the buyer to ask…where do I sign?

Are you asking yourself just how do they do this?

They angle their prospect interaction so that the buyer is begging them for the opportunity to buy. Talk about turning the tables.

You know what also happens?

They close faster.

Typically discounting less.

And they close more sales, more often.

High Performance Sales Closes Rely on One Thing

And it’s not the close!

Think of it like this…

Your ability to create a ‘sales no-brainer’ for your prospect is directly related to your sales success.

If it’s not a no-brainer it won’t be a fast, easy close. In fact, it might not be a close at all.

So, now your sales pitch is not about closing but it is all about creating a no-brainer!

If you can create a situation where the buyer has to conclude – ‘well, I’d be mad not to do this’ …then you have an order. Typically an order on your terms.

That’s how to he a sales super star.

How close to ‘no-brainer’ are your sales pitches?

Because close just doesn’t cut it.

Selling ice in a hot place – name your price. That’s no-brainer.

Even the national/state lottery…for some people, it’s a no-brainer to buy a ticket. Sure the odds are crippling, but for such a small amount, it’s worth a go. Plus it’s easy.

So, is your sales pitch a no-brainer for your prospects?

Then don’t bother wasting their time.

You’ll do far more harm that good.

You’ll be entering a competitive sales race that will exhaust you and tie up your resources with no guaranteed reward.

Why would you do it?

The 5 Key Element of a No-Brainer Sales Pitch

You must show the prospect/buyer:

  • A ROBUST ROI for your product/service
  • The true cost involved in him saying no to you
  • How his current thinking can be improved. To do this you need to respectfully challenge him so as to reframe your product/service as the solution
  • An easy way to do business with you
  • How your product/service is without competitors

If you can’t do all of these, at the very least, then you’re just one of the many mediocre sales pitchers out there.

Don’t be those guys.

High performance sales closes don’t exist. High performance sales people do. It’s your choice.

What Next?

You can join us on our next Sales Improvement Workshop. This is run as an open course and also as a bespoke inhouse course, onsite sales training on a day to suit you.

Or if you’re looking for a sales process and sales methodology training to embed in your own business, then check out TurboCharged Sales.

And finally, if you’ve no idea where to start but you know you need to improve the sales results within your business, book our Free Sales Health Check

And, if you’re struggling to sell because of buyers going AWOL after you’ve sent the sales quote – don’t get caught out – read How to Follow Up Sales Quotes

There are no magic high performance sales closes that will totally change you sales results, because that sort of change needs a change of heart, mind, positioning and the skills to influence and persuade.

Happy Selling

Carol

carol@mortonkyle.com

0779 002 1885

Why Sales BANT is Not Enough

Why Sales BANT is Not Enough

What is Sales BANT?

BANT is covered in almost every article on how to close good quality sales, appointments, demonstrations, meetings.

For those that haven’t come across it before here’s the basic premise – the person you’re engaging in the sales process needs to be qualified against the following profile

Budget – are they the budget holder? Is the budget available for this purchase providing the solution satisfied the need?

Authority – does this person have the authority to make the decision to buy? r are they a referrer, or person of influence?

Need – is there a need for what you are selling? Has this need been sufficiently quantified as being big enough to justify an investment

Timing – has the timing been agreed? Providing the solution is suitable to satisfy the need, has the sign date been agreed?

A typical BANT usage might be something like this…

Ok, Mr Buyer, just so I get some insight into how we’ll proceed can I just ask you, have you already got budget signed off for this purchase or does it need to go to the board? (Budget)

Great, and will it be your decision alone as to buy from me, or will you be making broader recommendations to the board? (Authoity)

Ok, understand, we’ve agreed that our solution can deliver what you need in terms of X, Y, Z, we agreed those are the critical and crucial criteria for you going ahead, and that our solution will alleviate the issues we’ve identified in X, Y, Z? (Need)

Excellent, and further to (the next action) you’ll be able to send the purchase order number across so we can get delivery for the week after next. (Timing)

Excellent thank you.

Obviously, this is a top line BANT summary. I encourage sales professionals to use BANT all though the sales process.

We cover it in more detail in all of our sales training courses and sales coaching programs. You can contact me for more details on carol@mortonkyle.complus it’s a subject we regularly reference in The Advanced Business Achiever – just hit the link for your free copy

Magnify the Power of Sales BANT

BANT is only part of the story. It’s an important part. However, on it’s own the power of BANT is very restricted, it’s a shout into the wilderness. It’s one hand clapping.

Very simply, BANT tells you that you are in the right position(or not) and you’re talking to the right person (or not) and you have some steer on the buying/decision making process. This is really important when you’re chasing quotes, really important. Ask anyone who has been randomly chasing the prospect who disappears once the quote has been sent. Hit this link  Anyone Seen My Buyer? – if you want to have buyers chasing you to buy from you

So how do you really amp the power of BANT?

You do this…

You combine BANT with Sales ROI (for more details on Sales ROI just hit this link to discover how High Performing Sales people work Sales ROI)

How to Combine Sales BANT and Sales ROI

Concentrating just on the Needs section in BANT.

Need is the most powerful motivator for change. Whether that’s to amend behaviours, persuade someone to buy a product/service or simply make different choices…

Those decisions are all driven by need. The bigger the need, the faster, easier, more compliant the buyer will be during the buying process

So, if you can create a powerful enough need with your buyer, then you have a huge motivator to use with your buyer to help them select to take action. To take action fast. That makes a big difference, especially if you’re working in a highly competitive space (and who isn’t working in a competitive market?)

8 Key Ways to Increase the NEED Factor in BANT Using Sales ROI

  • Fully explore the current ‘pain’ points associated with the current solution
  • Explore what those pain points have cost the buyer in the past
  • Extrapolate, realistically, what those pain points could cost the buyer in the future if nothing changes (this is the cost of doing nothing)
  • Remember that the pain could be pain other than financial. It could be stress, loss of clients, brand damage, reputation, ill will among colleagues who have to pick up and solve the same problems again and again or failure to comply with authority etc
  • Once you’ve fully explored the past and future costs, add them together…that can be quite the motivator in itself!!
  • Next, look at some blue sky thinking. Note – you’d be totally weakening your NEED factor if you look at the blue sky scenario building before exploring the pain, since people will typically do more to escape pain than seek pleasure.
  • Knowing the Pain/Pleasure Principle, check out some what if questions…what would it mean to your business if you could do X? What would it mean if you never had to deal with that again? How would you feel if you could illuminate that issue all together? What would that mean to your bottom line? What would that mean to your work relations? Your client relations? Whatever is relevant…
  • Next, go back to the pain position and summarise the cost of doing nothing.

So, when you come to ask your Need based questions in BANT, they might sound something like this…

Ok, understand, we’ve agreed that our solution can deliver what you need in terms of increasing your brand reputation with your customers after some of the issues you’ve had before, will allow you to have total confidence in the promises you make to your customers, and will really improve the relationships in the warehouse and customer service teams since they won’t be taking as many complaint calls… we agreed those are the critical and crucial criteria for you going ahead, and that our solution will alleviate the issues we’ve identified in losing the X account at Xmillion per yr, losing part of the Y contract at Y million per yr and having the Z tender going back out to review? 

See how powerful that statement is now you’ve fully quantified the prospects position if they do nothing?

(As a separate aside, just consider how easy it is to chase a quote once you’ve identified this level of need!)

Why Does Using Sales ROI with BANT Help You?

Because using one without the other is just one hand clapping. You’re going through the motions but nothings really happening, compared to what could be happening!

If you’ve gone to the trouble of speaking with the key decision maker, then the next task is to motivate them to take action. BECAUSE motivated buyers take action, they take action quickly, and they see value (which helps you protect your margins)

Some people might call it persuasion, and that’s ok, but either way, think of it as making it easy for the prospect to say yes! Making it easy for the prospect to make a decision. Making it even easier for the prospect to make a fast decision (because that means your competitor can’t sneak in at that last minute!)

That way you’ll be creating a real no-brainer sales proposition…and let’s face it, who says no to the no-brainer proposition?

What’s Next?

Try it out.

You’ll wonder how you ever closed without it. You’ll also start to understand why some of your sales didn’t close when/how they should.

Happy Selling…enjoy!

Carol

0779 002 1885

carol@mortonkyle.com

P.S. If you want to get sales and business development insights into your inbox weekly. Stuff like this to help you with your sales pitch, maybe sales coaching, daily sales huddle or sales meetings. Sign up here for The Advanced Business Achiever – totally free (and SPAM free). Give it a try, you’ll definitely get some benefit. It’s a nice little fast read digest of hints and tips to help improve sales results and sales performance…

P.P.S. Check out more Free Sales Improvement Guides here – free and instant downloads

 

 

 

Higher Sales Performers use Sales ROI – Do You?

Higher Sales Performers use Sales ROI – Do You?

If You’re Not Using Sales ROI….

When Sales ROI is such a powerful sales tool then you are a fool!

I wish there was an easier way to say this, because it’s not nice, but well there isn’t.

If you’re offended then hopefully you’ll think about working differently. Hopefully you’ll be offended enough to do something about it.

If not, well…

What is Sales ROI?

Great question. Forget about all the hot leads you wish for.

Those warm prospects.

The incoming calls and the warm word of mouth referrals because unless you flex your Sales ROI muscle, you’ll convert fewer than you should/could.

Even worse, your sales cycle will be longer than it needs to be, therefore your margin will most definitely be lower than it should be AND you’ll waste so much time.

Forget about reaching sales targets early, if at all.

Get used to the month end stress of shredding your sales pipeline just to get a zero margin deal in before month end!

Selling £1 Notes For 10 Pence

When I first started in sales, I quickly found out that some people just don’t want what you’re selling.

On that day, in that way, in that colour.

With those terms blah, blah, blah.

You know that type of buyer.

Those prospects who wouldn’t consider buying a £1 note for 10 pence an ok deal. You notice I said ok and not great.

So, I decided.

I wanted to avoid those sales prospects as often as I could.

I wanted to find serious prospects ASAP because those guys I could convert fast, with a high margin and with a total win-win solution.

Those buyers, they respected the value I bought to the table and I understood what they needed. Happy days.

Sales ROI and Risk

All I needed to do was to realistically prove that by buying my service/product they would GAIN GREATER RETURNS than whatever money they would ever spend with me.

The faster I got that PROOF out the way, the faster the close came because in many instances, prospects aren’t as worried about the cost of the purchase as they are about the risks involved in the purchase.

And guess what? As an added bonus, hardly anyone queried my prices because they didn’t need to any more, because they knew they were going to win, because I’d proved that too them before I asked for their business.

Sales ROI can do that because that’s what it’s designed to do.

56% of buyers claim that one of their key requirements for buying is that they enjoy the sales process.

Sales ROI ticks that box too…it’s the easiest and fastest way to engage the buyer in the process.

It ticks the logical box, it gives evidence to support their emotional decisions.

Why wouldn’t the buy?

You know, that is EXACTLY what my buyers used to say too!

Why Doesn’t Every Sales Person Use Sales ROI?

I’ve seen lots of sales people simply not be able to get their head around doing it…primarily I think because they don’t like talking about money (don’t ask)

Other sales people, well, they’ve told me they like selling how they are selling and that’s good enough for them. Good enough is such an interesting turn of phrase don’t you think…I guess their salary is good enough too, and they life, and their car, and their house…just good enough…

But let me tell you this.

The sales professionals that get it, try it, adopt the Sales ROI sales structure as their own, those guys that have some fun with it, that use it to reduce buyer defenses and so get rid of objections and boring and long sales processes, well those guys just never look back…AND their customers love them.

Discover Your Sales ROI

Come along to any of our sales training course – all through the UK – in house and open – just fill out your details and email me carol@mortonkyle.com or call 0779 002 1885…let’s have a chat.

Happy Selling

Carol

p.s. You can check out our online sales program TurboCharged Sales, or come along to one of our monthly Sales Improvement Sessions where we show you exactly how Sales ROI works for you…

p.p.s. Hop over here and collect your free subscription – Hot Sales and Business Development Tips – straight to your inbox weekly – perfect for feeding weekly team meetings, daily huddles and coaching sessions – it’s free and spam free too

For an online sales improvement and business development plan – check out TurboCharged Sales

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.