How Prospects NEED to Feel

October 25th, 2016

How Prospects Need to Feel

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All buying is emotional. Always. Whether you’re selling to businesses or consumers, the buying process is emotional from beginning to end.

And that can be a challenge for us as salespeople, because when we first encounter a prospect, their emotional state is frequently a negative one.

At the beginning of—and often throughout—the buying process, prospects can be in any or all of these emotional states:

• Scared
• Confused
• Anxious
• Pressured
• Frustrated
• Wary
• Annoyed
• Overwhelmed

The problem that creates is that as long as a prospect is feeling any of those ways, they’re not going to buy. In order for them to part with their hare-earned money, they need to feel:

• Comfortable
• Confident
• Relaxed
• Relieved
• Smart
• Secure
• Excited
• Happy
• Proud

Which means you need to change their emotional state. That’s actually a huge part of professional selling. It’s not just regurgitating features and benefits. It’s understanding the buyer’s emotional situation, discovering the reasons causing the buyer to be in that situation, and then helping them to move out of it and into a different, more positive state.

How can you accomplish that?

• Ask questions
• Listen attentively
• Empathize with them
• Respect their thoughts and opinions
• Educate them
• Provide proof—testimonials, case studies, before-and-after photos
• Emphasize your warranty/guarantee/return policy
• Don’t pressure them
• Give them choices
• Discover and answer their objections

The process of changing a prospect’s emotional state takes longer in some cases than others, depending on the degree of the emotions any given prospect is experiencing. But it is an essential aspect of selling, and the better you get at it, the better your sales will be. And the better you’ll feel.

47 Things You Can Compete On Besides Price

October 18th, 2016

Things You Can Compete On Besides PriceIn sales, the single worst factor you can compete on is price. Selling on price guarantees you a razor-thin profit margin. As well as constant customer turnover, because price buyers are notorious for having no loyalty—they’ll switch as soon as someone else offers a lower price.

And that’s assuming you make the first sale to begin with, which you likely won’t, because the vast majority of buyers make their decisions based on a multitude of factors besides price. So if you’re competing solely on price, you’ll lose the sale most of the time.

What can you compete on instead? Here are 47 other factors:

1. Construction quality
2. Quality of materials or ingredients
3. Safety
4. Environmental friendliness
5. Convenience
6. Durability
7. Ease of setup/installation
8. Years of experience
9. Warranty
10. Comfort
11. Energy efficiency
12. Color choices
13. Accuracy
14. Speed
15. Ease of use
16. Customization
17. Exclusivity
18. Hours/days of operation
19. Security
20. User training
21. Design
22. Maintenance ease
23. Maintenance cost
24. Risk
25. Consistency
26. Power
27. Capacity
28. Location
29. Resale value
30. Customer experience
31. Size
32. Track record
33. Versatility
34. Pickup and/or delivery
35. Operational costs
36. Taste
37. Packaging
38. Reliability
39. Specialization
40. Customer service
41. Longevity of product
42. Longevity of results
43. Healthiness
44. Company stability
45. Return policy
46. Uniqueness
47. Mobility

Figure out which of these items relate to your product or service and emphasize them rather than trying to beat everyone else’s price. You’ll make more sales at higher profits with stronger loyalty.

What other factors do you compete on? Share them in the comments below!

The Single Most Important Success Skill

October 11th, 2016

The Single Most Important Success SkillWhether you’re a salesperson, sales manager, business owner or CEO, there are a lot of skills that are necessary for success. A short list might include communication skills, sales skills, people skills, negotiation skills, leadership skills, and time-management skills.

But if I had to pick one skill that supersedes all the others, that is shared by all successful people, that is the foundation of success in any field, it would be this:

The ability to accept that there might be a better way.

This skill manifests as a hunger for learning, a need to experiment, a passion for pushing boundaries.

It’s what causes successful people to seek out mentors and coaches, to read voraciously, to attend conferences and seminars.

But more than that, it’s what enables them to actually act on feedback, insights, and new ideas.

So how good are you at this vital skill? How open are you to different viewpoints? How willing are you to discard beliefs and behaviors that are holding you back? How quick are you to trade old approaches for new ones?

Admitting you were wrong and that someone else’s way might be better than yours isn’t easy. It’s hard on our egos. And yet it’s a critical skill for your success. You can possess all the skills I mentioned above—and more—but if you lack this one, it will stymie your growth and keep you stuck wherever you are now.

So if you really want to accelerate your success, recognize that the ability to accept there might be a better way is a skill you need to hone. That’s the first step to honing it.

How to Bust Out of a Sales Slump

October 4th, 2016

How to Break Out of a Sales SlumpEveryone experiences slumps occasionally. Not that that’s much consolation when you’re stuck in one. All you care about is how to get out of it.

Listen to my appearance on Breakthrough Radio with Michele Price. In this short segment, I discuss what to do when you find yourself stuck in a slump. And not the same old “think positively” advice—real, actionable steps that you can implement to get traction again. Be prepared to take notes so you can have these valuable tactics available the next time you need to get unstuck!

To learn more about Michele Price and listen to her interview other business experts on Breakthrough Radio (which I highly recommend), check out TheBreakthroughRadio.com.

What else have you done to break out of a sales slump? Share your ideas in the comments below!