Finding Hidden Opportunities Will Dramatically Increase Your Sales Results

Many salespeople wait patiently at their desks for the phone to ring so they can write sales orders with existing and new customers.  When the phone rings they are all about getting the order and if need be, jumping through hoops to satisfy the customer and demonstrate their customer centered service.  Until the phone rings they are busy doing stuff, but then they go into “super customer service mode” attempting to capitalize on every whim of the customer.  In today’s economy the phone isn’t necessarily ringing off the hook and when the phone does ring are you discovering all that the customer needs?  Let me make a broad assumption and suggest that average salespeople typically do not discover all of the customer’s needs whether they are answering the phone or calling on the customer in person.  Salespeople miss out on sales opportunities every day because their minds are shrouded in the fog of mediocrity.  They are so intent on meeting the customer’s immediate needs that they fail to realize the bigger picture.  The thing the customer needs may only be one element of the grand scheme.  Salespeople become so narrowly focused in fulfilling that one thing, that they overlook other opportunities that may represent far greater potential and profit.

Seek understanding by asking question.  What do you want to understand?  You want to understand how that particular need fits into the bigger picture represented by the what, where, who, why, when and how of their company.  What the customer tells you may be just the tip of the iceberg of their needs.  Ask questions to learn how to better meet the customer’s requirements and remember to ask permission to ask questions.  Asking permission is a courtesy that will put the customer in a “question answering” frame of mind.  Seeking to understand the bigger picture will also convey to the customer that you are interested in them and want to help to the fullest degree.

Let me share with you a fun little story about a young salesman who turned a small customer need into a much larger sale.

A young salesman landed a new job with a large “everything under one roof” department store.  The hiring manager indicated that at the end of his first day he would personally evaluate the salesman’s performance.  The young man’s first day on the job was rough but he got through it and subsequently found himself sitting in the manager’s office for his first day’s performance review.

The manager asked the young man how many sales he had made and he replied, only one.  Somewhat surprised by his answer, the manager responded that the average salesperson for the store usually made between twenty or thirty sales in a typical day.  The manager then asked the young man the dollar value of the sale.  He responded that the sale totaled $101,237.64.  The manager responded by saying “What in the world did you sell”?  The young man responded by saying that he first sold the customer a small fishing hook, followed by a medium sized fishing hook, which was followed by an even larger fishing hook.  The young man continued by saying that he then sold the customer a new fishing rod.  After asking the customer where he planned to go fishing, the young man suggested to the customer that he might need a new boat, so he took the customer down to the boat department and sold him a 29 foot Catalina twin engine fishing boat.

With this, the customer suggested that he didn’t think his Honda Civic would be able to pull the boat, so the young man took his customer out to the automotive department and sold him a Chevy Tahoe to pull the boat.  The manager in total amazement said, “A guy comes in to buy a fishing hook and you sold him a boat and a Chevy Tahoe?”  The young man replied, “No.  He came in the store to buy some Excedrin Migraine for his wife and I said, well, your weekend is shot, you might just as well go fishing!”

This is an entertaining story, but it also suggest that salespeople might be missing out on some serious sales opportunities by not asking question to discover the full scope of the customer’s needs.  Think to yourself these questions.  “Do I know all I can about this customer and his or her needs?  Do I know as much as they know, combined with my own knowledge and experience so I can provide solutions to satisfy the whole opportunity?”  Make these principles part of your sales skills and watch you income increase, while at the same time, taking better care of meeting your customer’s needs.

Sales “Super Stars” See the End From The Beginning

Very few people would go on a vacation without first planning and scheduling their time, activities and transportation.  You wouldn’t start out hoping you would arrive at your destination without any preparation.  You would put together a detailed plan, that when followed, would allow you to arrive as planned and scheduled.  Successful salespeople know from the beginning what effort and activity will achieve the result they expect.  It is simply a matter of following a preconceived plan.  There is no guesswork; only a matter of achieving what has already been planned.  Goal setting will allow you to see the end from the beginning.

Anyone can set a goal, but goal achievement requires a plan and a schedule.  The tool that will allow salespeople to achieve their goals is a monthly goal sheet.  This sheet represents a thirty-day road map detailing the course, activity and effort necessary to achieve your sales objectives.  A sales goal is far more than just a number.  It is a number supported by time, activity and specific direction.  A monthly goal sheet is a map containing all the specific information necessary to achieve your sales objective.  Here is a list of the elements of a goal sheet describing how each part will lead you to greater sales success.

1. Set the goal.  Determine what you want to achieve and write down the number.  It can be written in terms of total sales dollars, profit, number of customers or any other unit that would describe achievement.  If you can’t write it, then you can’t achieve it.

2. Determine the time frame.  Your objective is to achieve a certain result within a specific period of time.  A calendar month is a typical period of time.  A goal without a time period established for achievement is merely a wish.  Using the terms, “as soon as I can” or “someday” are simply an excuse for lack of achievement.

3. Every goal must have specific steps leading to the desired achievement.  Without the establishment of steps, time and effort will be spent doing things that are not necessary to the achievement of the goal.  A monthly sales goal needs to focus specifically on those accounts or prospects that can conceivably contribute to reaching the goal.  Think in terms of those opportunities that have a fifty percent chance of closing for the month.  List each of those opportunities on your goal sheet.

4. Once you have listed the specific opportunities you plan to close for the month, list the value of each of those opportunities.  Since you have listed those sales opportunities that have a fifty percent chance of closing, your opportunities will need to be twice the value of your goal.  In other words, every opportunity on your goal sheet will not close.  If you don’t have enough total opportunities listed, you will fall short of reaching your goal.

5. Divide your goal into four weeks.  By assessing where you stand each week you will be able to better determine the effort necessary to reach the monthly goal.  You will also be able to make adjustments to your effort and achievement as the days and weeks progress instead of waiting until the end of the month when there is not time left to react.  By setting a goal for each week’s efforts and then tracking each week’s results, you will know where you stand and what needs to be done to successfully reach your monthly goal.

6. Prospecting to find more opportunities will allow you to reach your goal.  If your total opportunities projected for the month are less than twice the amount listed as your monthly goal, then you need to prospect to find more opportunities.  Finding more opportunity with an existing customer is the best and quickest method of building your pipeline.  The next best method is receiving referrals from happy, satisfied customers.

7. A picture is worth a thousand words.  Most people are visual, so create a picture that represents your progress in reaching your monthly goal.  A graph, chart or even a picture of a thermometer, calibrated to show your sales progress, will create the excitement to move you forward when your motivation is low.

8. Review and update your goal sheet every day and then take the appropriate actions.  Make contact with those opportunities listed on your goal sheet and record your success daily.  Your daily concentrated focus will create the effort necessary to achieve your goals.

There is nothing you can do as a salesperson to influence your sales success more than to establish the practice of using a monthly goal sheet.  If you would like a copy of the goal sheet template my clients have been successfully using for years, send me an email and I will send you a copy in pdf format.  I can be reached at the following email address:  tim (at) bpgutah (dot) com

Patience Is A Characteristic Of All Successful Salespeople

As the proverb states, “Patience is a virtue” and everyone could stand to use a bit more in their sales process. Never lose sight of the principle that people don’t want to be sold they want the opportunity of maintaining personal control of the buying process. Buyers want the purchasing moment to be their decision, not someone coercing them to move beyond their comfort zone. Use patience in all aspects of the sales process to build sincerity and trust with the buyer. Here are ten ways to apply the principle of patience in the sales process.

1. Meet with the prospect according to their schedule. Don’t try to force a time to meet with them. Be positive in your approach but avoid being pushy. Be patient. “All good things come to he who waits.” – Proverb

2. Building rapport. Be patient and learn something about your prospect. Let them tell their story. People like to talk about themselves. Don’t rush to present your products. “He that can have patience can have what he will.” – Benjamin Franklin

3. Diagnosing the prospects needs is an essential part of the sales process. Make sure you take ample time to discover their true needs. Don’t rush to solve problems before you know exactly what they are. Be Patient. “Patience is a virtue.” – Proverb

4. Resolving Concerns is another area in which to exercise patience. Don’t skip this step of the sales process. Be patient and get all their concerns “out on the table.” There is no victory in rushing through your presentation in hopes of concluding without revealing the prospect’s concerns. Be Patient, reveal each concern all and then work to resolve them. “Patience is the companion of wisdom.” – Saint Augustine

5. Your prospects will place a value on patience. They are paying attention to the interest you place in dealing with their concerns. Time has value and they recognize the value you place on time. Be patient. “Patience and fortitude conquer all things” – Ralph Waldo Emerson

6. The difference between making a sale and losing the sale could very easily boil down to the degree of patience you show in dealing with the prospect. Don’t rush to judgment, it creates the feeling of focusing on you rather than focusing on the prospect. “The two most powerful warriors are patience and time.” – Tolstoy

7. People don’t want to be sold; they want to buy. If you rush through the sales process you may lose the sale, wasting all the time you have previously invested. When you rush to a conclusion the prospect feels like you are pushing them. Relax, be patient. Help them to arrive at the buying conclusion and allow them to buy instead of feeling like they are being sold. “The key to everything is patience. You get the chicken by hatching the egg, not by smashing it.” – Arnold H. Glasgow

8. Discuss the features and then dwell on the benefits. Be patient as you invite them to reveal the benefits of your offering to their unique situation. Let them sell themselves. This takes patience. “Patience is bitter, but its fruit is sweet.” – Jean-Jacques Rousseau

9. In the sales process it is easier and faster to tell, tell, tell. However, telling isn’t selling. Take time to ask the questions that when answered by your prospect, will reveal the information you otherwise would have told them. Patiently drawing answers from your prospect will create belief and deeper understanding. Be patient and they will see from their own perspective, the value in your products. “Patience will achieve more than force.” – Edmund Burke

10. Don’t rush to close. There is a definite correlation between time, sincerity and honesty. People don’t want to be “hustled” and rushing to the close has the feeling of being hustled. Give them time to ponder and make the buying decision on their time schedule. Always ask for the business, but don’t rush the prospect to a hasty decision. Be patient and you will become more trustworthy. Remember, people buy from people they believe, like and trust. “One minute of patience, ten years of peace” – Greek Proverb

Honesty Should Be The Only Policy For Salespeople

I asked my wife Peggy what I should write about this week.  Without blinking an eye she said honesty.  “Salespeople only tell you what you want to hear,” she said.  “They’ll promise you everything and deliver nothing,” she continued.  I ‘m getting the feeling that my wife doesn’t like salespeople.  However, I know she does.  She has several friends at the stores where she shops at The Gateway, and I also know she likes me.  Somewhere in her life’s experience she has had some negative experiences with salespeople and the experiences have been significant enough that she would suggest I write about honesty in selling.

I have a client company who a few years ago developed and marketed a new and innovative product.  They have done an excellent job introducing this product to the industry and have captured a large part of their competition’s market share.  One of their competitors sent a letter to those customers purchasing this new and innovative product telling them that it presented a health risk and would damage the equipment used to apply the product.  Every time this competitor heard that a company using this product was having a problem with their equipment, they would immediately put the blame on the new and innovative product sold by my client.  Over a period of time, my client lost sales due to the negative information spread throughout the industry.

The competition was spreading lies.  In every instance, it was demonstrated and proven that the problems with equipment had nothing to do with my client’s product and further, that the product did not provide any more of a health risk than the competitor’s own product.  The dishonesty of the competitor ultimately came back to hurt them and not my customer.  In fact, it must have been embarrassing for the competition to eventually introduce a similar product and then suggest that it did not cause any of the problems they had openly broadcast about my client’s product.  The dishonest words of the competitor damaged their own reputation with their own customers and others within the market.

Here are five ideas that will help you be honest in your dealings with customers.  Remember, people buy from people they believe, like and trust.  Your sales career hangs in the balance between honesty and dishonesty.

1. Treat your customer’s situation as though it were your own.  What would you do and how would act if you were your own customer?  Tell them the reality of the situation and not what you think they want to hear.

2. If you don’t know the answer to a question, admit that you don’t know instead of fabricating an answer that may not be true.  If you don’t know, tell them you will find the answer and get back to them.  There is no shame in not knowing, but it is dishonest to pretend that you know the answer when you don’t.

3. It is just as dishonest to avoid telling the truth, as it is to openly say something that is not true.  If you compromise honesty with a customer, it will only hurt you.  You risk compromising trust with your customer.  It is much more difficult to regain credibility than to maintain it.

4. Never speak negatively about your competition.  The competition may deserve it, but don’t be the one to talk about it.  Remember the famous line spoken in Walt Disney’s classic movie, Bambi.  “If you can’t say something nice, don’t say anything at all.”

5. Discover what your prospect or customer needs.  Once you know their needs you can focus on solving their problems or meeting their needs.  If your product is not the best solution, tell them.  Help them achieve a solution whether it involves your product or your competition’s.  You will be rewarded with future business by helping them meet their needs and for your honesty in recommending the best overall solution.

Be honest in all of your dealings with customers and prospects.  Build relationships on a solid foundation of integrity and honesty.  The relationship will allow you to enjoy the most coveted of all sales postures, repeat sales.  Your very best next sale will come from an existing customer.  However, if you are not honest in your dealings with them, you can kiss that recurring sale good-bye.  How do you want to be known within your industry?

In The World Of Sales, When All Things Appear Equal, The Difference Is You

There is more than one satisfactory solution to a prospects needs.  Many products are equally good and several competitor companies can have stellar reputations.  Guarantees and warranties can be similar and service is frequently over-stated.  Every Salesperson offers the lowest price, the best quality, excellent service and the perfect solution.  With everyone looking the same, the only difference in the sales equation is you.  Let me take a few minutes and talk about five principles that will set you apart from your competition.

1. Listen to your prospect.  Most salespeople tell, thinking that telling is selling.  If you will take the time to listen to what the prospect is telling you, you will know what is important to them.  Once you know what is important to them, you can tailor your presentation to their needs.
2. Understand their situation.  Know precisely what they need to solve their problem.  Ask insightful and probing questions.  Don’t just respond to the first need they present to you.  Discover the whole picture so you know how the solution to this specific need fits with the big picture.
3. Treat your prospect’s company as if it were your own.  What would you do?  What would be the best solution to their problem from your perspective?  Help them assess the relationship between price, quality, and service.  Evaluate all possible solutions and make sure you present the most viable solution.  If your product is not the best solution, make a recommendation and move on.  They will respect you for your honesty and probably give you an opportunity to solve future needs.
4. Through effective questioning, seek to understand the prospects position relating to price and quality.  Very often the prospect becomes so focused on price that they sacrifice value.  Lowest price in most cases is not lowest cost.  Price is what the prospect pays for the product and cost is their total investment using that product.  A salesperson can offer the lowest cost to the customer and yet, have the highest initial price.  Make sure you understand what they need and they understand what you are offering.
5. There is service and then there is real service.  Real service involves you, the salesperson.  It requires your involvement with the customer to insure they are happy and satisfied with their decision to purchase from you.  No one else is responsible for your customer, only you.  The buck stops here.  Others may be involved, but the happiness of your customer rests on your shoulders.  When they know that you care, they will be around for a long time.

The difference between you and every other salesperson is not price, quality or service, it is you.  The difference is found in your ability to solve their problems and your sincere concern for their situation.  The customer knows if you care about them and caring makes all the difference in the world.   When all things are equal, it is the salesperson that makes difference.  Apply these five principles and enjoy the difference.