by Art Waskey | Apr 1, 2021 | Art of Sales Weekly
The goal
Satisfying customers is the goal right? Do so by keeping sales consistency!
You can classify salespeople into two general groups: hunters and gatherers. The hunter is a networker and skilled at finding and closing new business, but easily bored with customer detail. The gatherer is like a golden retriever, friendly and loyal and driven by the desire to keep the customer happy. A successful business needs both types of salespeople. Hunters do their best work on the outside, with face-to-face calling. Match them with your gatherers, who excel at inside sales and providing customer service. Both hunters and gathers should have the same goal and that is to ensure the consistency of a sale.
Make it consistent
Here are three issues to be aware of when working to ensure the consistency of each sales transaction.
- Buyer’s remorse – In any new relationship there can be doubt about whether the right decision has been made. This is particularly true with a large sale or one that involves an urgent need. We have all woken up wondering if we made the right decision or if the urgent product will be delivered as expected. To avoid buyer’s remorse, review with your customer the logical reasons for the purchase. Point out the features and benefits of the product or service you have just agreed to.
- Continued connection – An order does not complete a sale. Once the paper work is signed, introduce your customer to your inside service support team for any help he may need.
- Consistency of service – Follow-through is important. A rapid response thank-you email or text demonstrates your commitment. Have your sales and operation managers make a call or visit as well. Invite your customer to tour your company’s facilities so he can put names to faces. These actions provide the customer with consistency of service.
Grow your business and sales consistency
The salesperson who provides and coordinates consistent service after an order is taken creates a satisfied customer base. This yields client retention and guarantees more business.
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by Art Waskey | Mar 16, 2021 | Art of Sales Weekly
Selling is about helping others and meeting customer needs. A good sales person needs to be many things, including focused, organized, and gregarious. Most importantly, however, you must be mindful of meeting your customers’ needs. As a sales professional, you are in a position to help people buy solutions.
Your customer’s best interest
Here are four practical ways to sell with your customer’s best interest in mind.
- Be professional – There’s a big difference between someone who sells and a sales professional. The former pushes product. The latter focuses on identifying what is behind the customer’s need and matches that to a solution. The need can be driven by pain, or gain, or both. Pain is related to solving an immediate problem. Gain is centered on buying for value. While the two needs are sometimes interrelated, they are solved quite differently.
- Act on a commitment – Deliver on the need. The best salespeople are effective, confident, and thoroughly familiar with their client’s business. They know how, when, where, and why to deliver the product and service purchased.
- Provide continued support – The customer is looking for a salesperson who is both a counselor and a consultant. The best in class salesperson is a creative, strategic thinker who can anticipate the customer’s ongoing concerns, goals, and objectives.
- Develop long-term loyalty –The formation of lasting customer relationships based on honesty, integrity, and trust reap the greatest rewards. James Duffy, author of More Than Account, says that 8% of sales people capture 80% of the sales. That 8% have strong customer relationships.
Care and commitment to meet customer needs
Today, a purchase can be made with the click of an online button, no sales person involved. Your best defense to this is building and sustaining good in-person customer relationships (see building-a-business-relationship). Buyers want to know the seller cares, especially in larger deals, and online platforms cannot provide that. Help meeting customer needs ensures that customer makes the best decision and receives the greatest return on their investment. This is the sales professional’s greatest tool.
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by Art Waskey | Mar 10, 2021 | Art of Sales Weekly
My sales career has been in an industry that provides essential products. Sometimes those products can be in short supply, which makes customers vulnerable to pricing pressure. Salespeople may see product scarcity as an opportunity to maximize their margins at the customer’s expense. If you lose sight of your buyer’s best interest, however, it is likely to cost you in the long-term. I suggest that you carefully evaluate your position before taking advantage of a short supply situation.
Three common traps
Consider these three common selling traps and how they work against guarding your buyer’s best interest.
- Inflating price — When a customer’s urgent need makes it impossible for them to negotiate, you can sell at an inflated price. However, once the crisis passes and your competitor’s pricing is significantly lower, your buyer will likely change suppliers. The lowest price is always the buyer’s goal.
- Overstating capabilities — Leading a customer to believe that you can solve problems beyond your competency is never a good idea. Your buyer knows what he needs to get the job done. Over promising a solution in order to make a sale never ends well. When you hear, “…but you promised,” you have overstepped your reach and will likely not see any more business.
- Overselling the product — Are you pitching a product or service that is too sophisticated for the customer’s need? If your client’s original equipment does a better job than the new product you deliver, there will be complaints. Selling technical capabilities that are beyond a customer’s particular need leads to buyer’s revenge sooner or later.
Buyer’s Best Interest
If you are interested in developing long-term sales relationships, always keep the buyer’s best interest in mind. Most short-term deals made under the above circumstances lead to lack of buyer trust and future sales. I have seen these traps create great anxiety for sales professionals, and even job loss. Paraphrasing William Shakespeare: “Hell hath no fury like a buyer’s scorn.”
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by Art Waskey | Mar 2, 2021 | Art of Sales Weekly
You are feeling comfortable with your prospect. During your recent 20 minute conversation, you’ve asked good questions and now know 5 important things about him (see this post about building a business relationship). Your potential client even shares some of the problems he is having with his current supplier. Still, you sense the client hesitating when it comes to making a business commitment. In World-Class-Selling, Roy Chitwood suggests that before a potential customer makes a business commitment, he needs five key assurances.
Before a Buyer Commits
Chitwood describes the areas that are central to gaining a customer’s trust in order to close a deal.
- You – Once you’ve had the chance to get to know your prospect, it’s time to reciprocate. He needs to evaluate your integrity and measure your interest in serving his needs. He’ll assess how likely you are to be a valuable consultant and advisor, or even a close friend. The client also needs to learn how well you have studied his business. Are you capable of determining how your product or service fits his needs?
- The company – A customer needs to have confidence in your company before making a commitment. Make sure your mission statement and good reputation are well known.
- The product or service – The salesperson must demonstrate knowledge of his company’s product or service and how it meets the customer’s need. Can you show how you will solve the customer’s problem?
- The cost – Customers want more than a good price. They want value and to know how soon the product will pay for itself. Remember, people want to buy: they don’t want to be sold.
- Time to buy – If the prospect is satisfied with the above four areas, he then has to decide when is the best time to buy. No one wants to spend money before it is necessary. To get a business commitment, you need to provide assurance on why now is the right time to buy.
Keys to commitment
Think about it. Before you make a decision to buy don’t you look for these five assurances? The keys to a business commitment are universal. Use them to gain your prospect’s trust and signature on that proposal!
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by Art Waskey | Feb 16, 2021 | Art of Sales Weekly
I recently interviewed a man who had been the VP of Sales for a national manufacturer. The company he represented sold through a network of businesses and he was well-versed in developing strategic partnerships with distributors. He saw his buyers falling into three distinct categories.
Three types of customers
- Transactional – This type of customer is only concerned with price. Beware of the buyer focused solely on this — he will quickly switch to the supplier that offers a better deal.
- Engaged — Gaining the trust of a client builds brand loyalty. A customer who is engaged is one with whom you have developed a two-way relationship. You respond to their needs in a timely and honest manner. Be vigilant about guarding that hard won position from other brands trying to tempt your client to switch suppliers with a better value proposition.
- Embedded – An embedded relationship is one typified by mutual respect, long-term commitment, and a strategic partnership. This is a step above the engaged customer and the most ideal position from a sales perspective. Embedded customers are loyal.
Are you Developing Strategic Partnerships
The manufacturer’s long-term distributor relationships were all developed as strategic partnerships in which both parties shared business plans and problems. As VP of an independent distributor for 35 years, I agree. I met with my vendor managers regularly to create game plans that helped us sell their products. It is important to have close contact with your clients. If one of your vendors loses its footing and its brand loyalty deteriorates, it opens a door for your competition to walk in.
Your Value Proposition
It is important to consider these three customer relationships and how they play with your customer base. Are your current customer liaisons transitional, engaged, or embedded? Can they withstand disruption? Work on your value proposition to ensure you develop strategic and lasting partnerships.
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by Art Waskey | Feb 10, 2021 | Art of Sales Weekly, Featured
Were you able to pivot to online meetings when the pandemic closed traditional sales channels? The owner of a high performance car engine manufacturing company told me that he just had his best year, despite the fact that his customers faced completely closed or reduced schedules at race tracks. How did he accomplish this? The company moved fast when the pandemic hit and pivoted to a new sales strategy. To determine how demand for its product might change, engine production was paused and time was spent contacting existing and potential customers via virtual conferencing. The company found that the race community had more discretionary money to spend on engines than they ordinarily would as other business costs (like travel, entertainment, etc.) had been lowered or eliminated.
The benefits of online meetings
While in-person sales calls are still a great way to present your product, the pandemic has proven that online meetings are also a viable way to sell. Here are some of the benefits of virtual conferencing.
- Meet anytime, anywhere – There are significant time savings and productivity gains associated with meeting online. Without travel, the volume of calls can be greatly increased. At the engine shop, the owner reported bringing in more new customers in one day than they previously did in two.
- Put a name to a face – People like to see with whom they are dealing and video conferencing enables this. For the engine manufacturer, clients began requesting online meetings once that format was introduced.
- A quick path to the decision maker — With video conferencing, all the key players involved in a sale, including the owner, can come together at the same time, even if they are in different locations.
- Reach a wider network – Online video enables meetings with potential customers that previously may have been considered outside your territory. The engine maker now has out-of-state clients.
- Better customer follow-up – Virtual online checkups can rapidly measure a customer’s approval of your product or service. The engine manufacturer found that online follow-up improved their customer’s post-sales experience.
A new era
Make sure you are ready to pivot from traditional to online meetings. The pandemic has ushered in an effective new way to market goods and services —online sales communications — which are certain to remain an important part of business going forward.
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