Great Leaders Help Others get Ahead
| There are many desiring to be in positions of leadership. However, they may not understand the concept of being a “servant leader.” The best leaders in history did not get to their positions by defeating their opponents or holding others back. |
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| What is servant leadership? | |||
| The term servant leadership first appeared in an essay written in 1966 by an AT&T executive named Robert Greenleaf. Greenleaf held to the ideal that an organization run on the premise of servant-first could be highly effective and productive. | |||
| Service to others is the core of his philosophy. The servant leader does not look for ways to seek personal gain. The servant leader becomes the leader by virtue of lifting others to become better leaders themselves. In this writing, Greenleaf defines a servant leader as someone who “is a servant first.” Servant leadership isn’t about positions and titles. Instead, it is an attitude that says people and relationships are important, valuable, and essential to the success of the organization. Servant leaders put their people and their organizations before themselves. They don’t view employees as a means to an end. They don’t seek personal success at the expense of others. | |||
| Help others become better leaders. | |||
| Helping others in a way that is not intended to be self-serving may put you in a position of greater influence, and thereby, leadership. We see this played out time after time in various domains whether politics, business, or society. Emerging leaders are not the ones who discredit others or hold others back in order to maintain their own position. This kind of leadership can make the difference in your field. The old saying “A rising tide lifts all boats” is a good illustration of how leadership is the difference-maker. By helping others become better leaders, you become one! | |||
| Sales Concepts Introduces its new Leadership Institute. | |||
| Improve your leadership skills with the Sales Concepts Leadership Institute. We will help you help your team get ahead. | |||
I have to think about it.
Nothing kills a sale faster than those six words. It seems everything is going along just fine. You have qualified the prospect, answered his or her questions, and overcome the objections. After the final presentation, you are lead to believe you and your product are wonderful. Everything is great until you ask for the business, and then you are hit with:
“We have to think about it. We’ll get back to you.”
This usually occurs for one of four reasons.
- They truly do need some time to think about it.
- They have no intention of buying.
- They are procrastinating.
- They don’t have the authority.
Let’s look at these four reasons and think about how to deal with each situation.
They truly do need time to think about it.
Remember some people just don’t move as fast as others. Those of you who have attended our courses know analytical people just take longer to act on their decisions. They are risk adverse. Help them by offering more information. Try to determine the major risks causing them to stall. They may need time to reach a comfort level that allows them to move forward. Pay attention and stay in front of them. Demonstrate how you and your company will support them after the sale.
They have no intention of buying.
They are just not sold. Get back to your original qualifying procedures to determine if there really is a need. They may not be convinced they have a need, they may be hoping you just go away. Amiable people do not want to hurt your feelings by directly telling you no, so they just put you off hoping you will stop calling.
They are just procrastinating.
Use financial data to establish a sense of urgency. Show them the money being lost by putting off the project or purchase decision. Make a limited time offer. If you order this week, I can get faster delivery. Should you opt to use this tactic, make sure you have a good reason for it. Don’t just say if you order today I can save you five percent. You lose creditability if you do not have a good reason for this offer. Another option is to use their schedule to create urgency. You said you wanted delivery by the end of the month. We need your decision this week to make that happen.
They don’t have the authority.
In this case they may be struggling to sell internally, or have been told “No.” and don’t want to admit it for whatever reason. They may be waiting for approval from a higher level. Try to find out if anyone else is involved in the decision by asking process type questions. “Who would be responsible for…” See if you can get other people involved. As a last resort, one option is to have your manager call their manager and set up a meeting.
Remember, customers buy for their reasons, not yours. Your job is to figure out what is really going on in the minds of your prospects and why.
“Your price is too high!”
In ou
r Persuasive Sales course, we spend a fair amount of time evaluating and discussing the objections attendees hear from their customers. Time and again, two objections are first and foremost on their minds. One is how to handle price objections. The other we will save for our next message. So, how do you handle price objections? Here is a list of six methods you can use to deal with them.
1. Ask about it.
This is the best way to deal with any objection. The customer claims your price is too high… as compared to what? Is this a reference to a competitor’s quote or a number they have come up with in their heads? Have market conditions changed? When is the last time they inquired about the price of what you sell? Questions about why they think the price is too high may uncover misconceptions customers may have about what you are providing. Don’t be so smart. Ask questions to clarify your customers’ unique view of their business and your solution.
2. Compare apples to apples.
Make sure the customer is comparing your solution to similarly configured options. At least make sure they understand and appreciate the difference in quality or value. Comparing a Chevy to a Lamborghini is hardly fair for either company or the customer.
3. Focus on the difference.
Speaking of differences, that is exactly where you should focus. If your price is 8% higher, you only have to justify the 8%, not the entire price.
4. Challenge the prospect.
Do this in the form of a question. “You want both feature A and feature B for this low price?” Then get quiet and listen. This tactic may not be for the faint of heart; it works well in the right situation. A less threatening way to do this is to ask, “Which would you buy if the prices were the same?” You have more selling to do if the customer says “Theirs”. Ask why. Listen for the true objection. If the customer says “Yours” then ask why. Before long they will be selling your product to themselves. All you will have to do is say “Right! That’s why ours cost more.”
5. Compare results, not the price.
Focus on the results gained from the added value. Compare the difference in price to the added return on investment or improved cash flow. This can make a price difference seem insignificant.
6. Make it smaller.
Break it down over the usable life of the product or service. For just $7.38 per day, you have ours versus theirs. For this to work, customers have to associate greater value with your solution. It’s your job to make sure they do.
This list is by no means exhaustive. There are hundreds of ways to handle price objections. Remember – just because the customer thinks your price is too high is no reason to quit.
Do you have a favorite not mentioned here? Please add your comment below.
Handling Objections
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| 1. | Be prepared. | ||||
| Unless this is your first day selling, you have probably heard most of the objections. Get prepared. Think about them before your call. Come up with solutions that are in your customer’s best interest and yours. Spend time thinking about solutions when you are not under the gun. Get creative. Ask management for help if necessary. Talk to other sales people. | |||||
| 2. | Listen patiently for the true objection. | ||||
| Try to discover what the real objection is. Sometimes customers don’t particularly know how to articulate their objection. Slow down and ask about it. | |||||
| 3. | Restate the objection as a question to confirm understanding. | ||||
| Avoid using the same questioning technique every time a customer objects. This becomes annoying and manipulative. However, you must verify that you fully understand the objection. Many veteran sales people fall into this trap and assume they have heard everything. Test your assumptions. Don’t get blindsided later. | |||||
| 4. | Show empathy and understanding. | ||||
| We are not saying you have to agree with your customers. We are saying that you have to demonstrate you understand their point of view. This is how you build trust and credibility. To persuade customers or prospects, you must have their trust. | |||||
| 5. | Ask questions about the objection to uncover the real issues and causes. | ||||
| Once you have established you have their trust, ask questions about what is causing the objection. Ask and be quiet. Let the customer do the talking. Your job is to listen and learn. | |||||
| 6. | Convert the objection to your advantage based on what the customer is really saying. | ||||
| Now is when you have the opportunity to brain storm with the customer. This is a good place to ask what-if type questions and offer alternatives. This should be a two-way street where both you and your customer search for compromise. | |||||
| 7. | Close. Confirm customer is convinced. | ||||
| You do know how to do this; don’t you? If not, we can help. | |||||
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STAY TUNED.
Next time will discuss ways to handle one of the most common objections customers seem to have. “Your price is too high!” |
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I hope this does not happen at your company.
Recently, I was in a prospect’s office waiting to make a presentation to the vice president of sales. The office was quite busy. I could clearly hear the clatter and chatter of customer service people processing orders and addressing their customers’ issues. I nearly fell out of my chair when I heard one of the customer service people answer an incoming call. It was brief to say the least. The customer service person simply stated the price of the product and that was it! No other details were offered. No pertinent questions were asked. The customer service representative didn’t even ask for a name or phone number. The very brief phone conversation lacked any effort to help the customer buy or to provide a lead for the sales force.
After my successful presentation to the vice president of sales on C-Level selling, I returned to my office. My curiosity and disbelief about what I overhead was driving me crazy. I wondered, was the call I overheard an aberration? So I conducted some unofficial research. I called that company’s customer service team five times to inquire about their products and services. In only one of the five calls was I asked for my name, phone number, and e-mail address. Yet, this is where a prospect’s call can be converted into a sale or a qualified lead for their sales force.
This begs the question: how are your prospects’ calls being handled? Does your entire customer service team understand that every “touch” with a customer or prospect is an opportunity to sell? Do they understand the sales process and their key role in growing business? Are they reminded that they are not “just a customer service person” but a key player in your overall sales strategy? In fact, they need to know they are just as critical to the success of your company as your salespeople!
The customer service team is a fundamental component of any organization. Unfortunately, too many companies treat their customer service team as an afterthought that is not fully utilized to maximize sales potential.
Ask yourself, how does my customer service team perform? You may want to conduct your own “research”. If your findings are similar, we need to talk. Your customer service team should play a strategic role in growing your business.
How Much Elevator Do You Need?
Most sales people can talk forever about their product or service or company or features or whatever. I suspect some of us think if we talk long enough the prospect will buy just to get rid of us! While Sales Concepts is a big advocate of asking more questions and talking less about one’s company, at some point; you do need to talk about what you are selling and your company.
The idea of an elevator pitch has been around for a long time. Simply put, an elevator pitch is the short version of why a prospect should do business with you and your company. The reference to elevator is based on the idea that you typically have the same time as a short elevator ride to grab a prospect’s attention.
That’s where the problem starts. Some of us need the elevator in the world’s tallest building to have enough time to make our pitch. Boiling it down is a lot harder than you think. Brevity alone isn’t enough. Your message must be focused and unique. You must find and then state what makes your company special from your customer’s perspective. Trotting out platitudes or advertising slogans won’t cut it. Everybody has low prices, high quality, friendly personnel, wide selection, etc.
Here’s an exercise to get you started. Write a statement about what makes your company unique. Then cut that in half. Then cut it in half again. Get it down so you can say it in 20 seconds or less. Think of two floors as representing all the elevator time you have.
Here’s the second part of the exercise. Take the name of your company out of the message and substitute your leading competitor’s name. As long as you can put the competition’s name in your message, it’s not unique. Work until only you can say that. Repeat this exercise until you have the unique WHAT and HOW of your business that makes your customer’s business better.
Use the following checklist to create a truly compelling elevator pitch:
- It must be specific and relevant.
- It must be unique and differentiate your company, product, or solution.
- It should cover only one thought or concept. It is a statement, not a paragraph.
- It must be quantifiable. Statements like, “We are the leading supplier of…” do not count.
- It must relate to a single quantifiable benefit that is derived from a unique feature of your company and the service/product it provides.
- There must be a definable benefit to the customer. It should answer the one of the following questions for the customer: “What’s in it for me?” or “As a customer, why should I care?”
Oh, and it’s hard to do this by yourself. Find some colleagues; kick it around; stay with it a long time past when you think you’ve got it. If you’re lucky, you’ll be in the neighborhood. It takes more than one session, but it is worth it.
