Launch - Spring 2008 - (Page 25) Competition is brutal and the cost and effort of acquiring new customers and retaining old ones is significant in the backdrop of shrinking profit margins. To stay ahead in such an environment, it is critical to utilize every advantage available. Often overlooked is the power of planning and the crucial step it plays in the sales process. A shotgun approach in lieu of planning may result in some sales successes, but in the long term, the payoff is limited. The old dictum, “If you fail to plan, you plan to fail,” is particularly applicable to salespeople in all walks of life. If you call on a customer without having a plan in place that outlines your approach, knowledge about the customer, what are his or her buying imperatives, and how you bring value to the customer, you are setting yourself up for failure. Knowledge and a plan give you the power to outsell your competition and show the customer that you deserve their business. Before you call on a customer, invest a few minutes of your busy schedule in developing a “pre-call plan.” It need not be very elaborate but a game plan which defines the purpose of the meeting, what you want to get out of the meeting, what your customer should get out of the meeting, the support materials you need — brochures, product specification etc. along with a follow-up plan. By doing this, a sales person is inculcating discipline in their efforts with a methodical approach to sales. It impresses customers because you display a surefooted approach due to having planned adequately. This can be the difference in a customer deciding between you and the competition. An example: Ben Duffy, a salesman in a small ad agency found out a major tobacco company he had been trying to get into, was unhappy with their current ad agency. He secured an appointment with the CEO. He knew that his biggest drawback was that his ad agency was small and not known well. The night before, he sat down and put himself in the mind of the CEO and realized the CEO would have a lot of questions. He listed 20 questions that he thought he might have to answer. He was right. When the questions began, Ben told the CEO he anticipated being asked these questions and stated he wrote them down along with answers. They exchanged lists and Ben was only off on three questions. Impressed that Ben would go to the trouble of trying to understand him and the tobacco company, the CEO gave him the business. A legend in sales techniques was born and planning was the keystone that clinched the deal. Good planning never goes out of style — rather it is an essential tool that a salesperson can use over and over again not only to win new business, but also to keep your current customers in your camp for life. Closing a Sale By Chris Knudsen Sales and Marketing Consultant Effectively closing a sale is a process that, if followed correctly, will help you close most potential clients. Here are some tips: Resolve Concerns The most important thing you can do to close a sale is resolve concerns. The key to resolving concerns is to listen to the customer. I cannot overstate how important listening is to properly resolving concerns. Use the following four steps to resolve customer concerns: >> Listen first to the concern. >> Restate the concern to make sure you are clear on the objection. >> Acknowledge the objection with real empathy. >> Overcome the objection. Don’t get offended. If you are at this point the customer wants to buy. You may have to go through this process several times before a client is ready to buy. Furthermore, you may not be able to resolve all concerns. Sometimes budgets change. Sometimes the timing is wrong. Sometimes they just don’t see a match no matter how hard you try to pitch to them. If you’ve done your homework beforehand you should be in front of a qualified prospect. Most qualified prospects will have some concern. Overcome it by implementing the four steps and then ask for the sale. launch spring 25
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