Monthly Archives: March 2017

Your Prospects says “No”..Now What?

Part 1 of 3

 After putting all of your effort and creativity into a presentation, you would probably rather endure a root canal than hear your prospect say, “We like your presentation but…..”

This is the first of a three-part series of ENS on Sales to address what sales professionals do after their prospect says “no”.

Understanding why a prospect says no is one of the most valuable steps towards yes in your entire sales process.

We often run sales contests where the salesperson who captures the most ‘no’s’ wins first prize.

Second prize in our ‘no’ contest goes to the salesperson who captures the most yeses.

Here is the thing, the person who captures first prize for the most no’s,  ALWAYS captures the most yeses as well. Always.

So before we explore what to do after no, let’s discuss the psychology of no in the selling process.

Fear of rejection or hearing ‘no’ can be a huge attitude killer if not put into perspective.

Psychologists know that to manage stress, you have to only concern yourself over that with which you have direct control. You do not have absolute control over whether your client says yes or no.

What you do have control over is how much effort you put into preparing a proposal that meets the customers’ needs. You also have control over how many times you ask for a sale and, of course, the quality of those asks does influence your closing ratio.

Success breeds enthusiasm and more success, so it is imperative that you define your success in terms of things you control.

If you define success as getting a yes….you’ll inevitably feel like a failure some days.

But if you define success as making X number of prequalified, high-quality, customer-focused presentations, you can achieve that goal, and feel like a success each day.

By the way, if you get a yes more than 50% of the time, do not pat yourself on the back too much.  High closing ratios simply mean you’re calling on the easy accounts, or not asking for enough.

One more thing before we address what to do after no….you need to manage WHEN you get to “no”.

When you get a no at the end of your presentation, it simply means there was really a no earlier in the presentation that you did not uncover.

If you purposely and tactfully captured a yes on each point in your presentation on the way towards your close, there will be no surprise no’s.

It’s important for you to encourage an agreement, or disagreement, each step of the way during your presentation.

In next week’s ENS on Sales, we’ll explore the 10 steps to take after your prospect says ‘no’.

 

ENSMedia Inc. 705-484-9993

The Gift of Gab

Every once in a while, I meet a salesperson who proudly proclaims their strength to be, “I’ve got the gift of gab.”  In sales, the ‘gift of gab’ is more aptly described as ‘the curse of chatter.’

Successful sales professionals know that sales are really more about listening than it is about talking.

Those with the curse more often engage in product-feature speak than they do in providing customer-focused solutions or opportunities.

Customers don’t care how much you know until they know how much you care….and caring is demonstrated by listening.

Listening is by far the most important and difficult skill a sales professional can learn and practice.  The sales people who annoy and alienate prospects the most are those who claim to be good listeners but follow every customer objection with a “yah, but…..”

There is no room for the word ‘but’ in a good listener’s vocabulary.

To be a professional listener you need to;

1.) Earn the right to ask questions by learning something about the prospect’s business before you make a call.

2.) Prepare with open-ended questions that encourage the prospect to express their views and feelings.

3.) Demonstrate you are listening by taking notes. (Always ask permission to take notes. (“Your input is important to me, do you mind if I take a few notes?”)

4.) Paraphrase and summarize what you hear.  Don’t start a debate.

5.) Use the language and needs you hear the customer express when you make your presentation.

6.) Make certain that every benefit you present relates to a need you heard the prospect express.

There is a lot more money to be made being interested than there is in being interesting.  So why not shut up and make some money!

The Secret to Increasing Your Sales

In this excerpt from my 2001 book, I wrote: “Tear up the last page in your presentation and double the investment you are asking for.” That was one of the keys to success then and remains so in 2017.

Here are the simple back-to-basics steps that still work today:

  1.  Know your prospects dreams.
  2.  Wear your ad manager’s hat & do the best presentation you possibly can with the client’s best  interest at heart
  3.  Establish a budget within the parameters, as described by the client.
  4.  Look for the big idea.  Revolve your presentation around a creative solution to an agreed to  client problem or dream; not around spots, rates, or GRP’s.
  5.  THEN TEAR UP THE LAST PAGE, AND DOUBLE THE INVESTMENT!!!

WHY DOUBLE YOUR PRESENTATION?

 

  1. A)   From a Client Perspective
  1.  Dominating your medium will capture and gain a dominant Share-of-Mind and subsequent  dominant Share-of-Market with your audience.
  2.  Major investments are viewed with much more respect and attention than minor or token  investments. Your advertisers have a vested interest in ensuring your campaign works if the  investment is significant.
  3.  More budget directly increases reach, frequency, Share-of-Voice and success.
  4.  Clients seldom tell you their real budget. They believe they have a vested interest in reducing  their costs, but will always invest more if they are convinced they’ll get a return on that  investment.
  5. Larger ‘asks’ demonstrate your confidence in what you are proposing.
  1. B)   From Your Perspective
  1. You deserve more. Radio should not continue to accept competitors as “automatic buys”.
  2. It takes just as much work to write and service a $20,000.00 account as it does a $100,000.00 account.
  3. You will make more money………more easily.

If only half your clients double their budget, and you capture the original proposed budget as a fall-back position with the other half, your sales will increase by 50%.