When Sales Rep use proper questioning they better uncover buyer needs, pains a personal business desires. When they questioning with the sole intent to derive metrics that the decision maker requires to make a sound and faster decision, they Rep gains a competitive advantage. The following is a typical dialog showing how this can be easily done.
Ask:’WhatWon’tHappen?At theappropriate time inthesales cycle,ask theclient,”To helpmeunderstand your situationso Ican craftthe bestsolutionforyou,can yougiveme a sense ofwhat would happen ifyouchoosenottomoveforwardinthis process anduse our solution?“Like a good triallawyer,you already knowfromearlier analysis whatthoseimplications will be.Thereisnofear inhurting yourdeal, just the fearof riskingfailure…and afterall,itisabouttheclientNOTyou.
Ifthe clientdoesn’tlistthemexactlyasyoumightlike, leadthemwithfurther questions.Forexample,themiddlepartofthe conversationmightgolikethis:
SalesRep:Yes,Ican see what you’re saying aboutmonthly revenue generation takinga potential $7,000 hitifyou don’ttakecare of this(sales rep punchescalculator),that’s$84,000 peryear.:WhatIamwonderingiswhatwill happen toyourcustomer conversions? Since you’re converting 30% ofyour visitorsper yearand we’vealreadydiscussed howengaging our services can getyou uptoabout50%,what mighthappen ifwe don’tgoforward?
Client:We’ll,I’m not reallysure.Iguess we’ve been losing a littleground to competitors,whichis,ofcourse,whywe’retalkinghere.SoI guesswe’dlosea littlemore.ButIdon’t know howmuch.
Salesrep:It’s impossibletoknowfor certain,ofcourse,butdoyouthink it’s morethan 2%…5%…Higher?
“Instead of thinking aboutvalue- added think about knowledge- added.What knowledge can you add toyour service,orcommunicate aboutyour service,that will make you more attractive to…business partnersand customers?”Harry Beckwithin The invisible Touch
Client:I’d guess,no I’m pretty sure, itwouldbe morethan5%,butnot sure howmuch.
Salesrep:OK, then,we’lluse5%asabenchmark,tobeonthe conservative side.Onelast questionaboutpricing;whatdoyouseehappeningthere?
Client: Well,if wemoveforward, we’dliketoraiseprices,ofcourse,butif we don’tmove forward,we’ll continue tohavepricecompetition pressures.Ithink we’ll findourprices either hold steady or fallbyupto3%.
- 1. Quantify theresults: Justasyouquantify thebenefitsandvalueofmoving forward,quantify theimplicationsforthecustomerofnotmovingforward. Make sure yourcase is clear before goingontothenextstep.Inwhatever you sell,there needs tobefinancialconversations…afterall,everythingis aboutrevenues and expenses…the bottomline(free “gifts of Knowledge”). Thatis why theyarebuyinginthefirstpl
- 2. Demonstrate theresults:Most good sales people enumerateor quantify thevalueandbenefits ofengagingtheirservice.Whenyoudemonstrate your value (e.g.presentation, proposal,et), also demonstratetheresultsof theWhatWon’tHappen?Analysis.
- For example,you demonstratethatrevenue will go upby 3% andcustomer retention will go up by20%,iftheypurchase your service.
- You showhow yoursolution willlead tostrongerconversions and sale capture.Howyour solution will lower theircostsof technologyownership.
- Atthesametime, showthemtheflipside.Demonstrate that,ifthey choosenotto goforward, revenue willstagnateordrop and customer retention will dropby 5%at least.
- Emphasize that thesearetheirnumbers and assumptions,notyours. Do yourbest totranslatepercentages and other metricstodollar amounts. As you do this,also keep inmindthebest metrics touse aretheones your client is already using or agrees
- Byemploying a What Won’tHappen? Analysisin your salesprocess,you will find aconsistentincreaseinthesenseofurgencywithyourclients,resulting in measurablyincreased close rates.
What do you do next? Send us an email and we’ll arrange for you to speak with Ed to chat about how these learnings can help build more sales just for your business