In the last two ENS on Sales, we explored why ‘no’ is a necessary step towards ‘yes’ in your selling process, and we discussed the first five of our ten things to do after ‘no’.
(If you missed those issues, contact angela@wensangela@wensmediacom to request them).
Let’s explore the remainder of those 10 steps.
Step 6; is one of the most often underplayed…..say thanks in a big way!
Thanks for the appointment, thanks for giving me new insights into your business or your goals and thanks for considering us, etc.
Don’t only say thanks verbally, but follow up in writing with a personal note.
Also thank any key influencers, coaches or associates who referred you, and keep them in the loop.
Step 7: After no, carefully plan your next strategy based upon what the no taught you. Through questioning, you’ve learned why your prospect said no, and conversely, you now know what you have to do to get to yes.
Step 8: Initiate a minimum of three valid business contacts before you ask for the order again. A valid business contact is any contact which benefits your prospect.
Pushing for a sale on every encounter can be a real turn off, but delivering a minimum of three messages of value before the next ask will help create a pre-sell your next approach.
Step 9: After no, get a second opinion. Review the situation with your sales manager, have a productive brainstorming meeting with your creative people or, SoundADvice members are always welcome to contact me 24/7 to discuss the situation and alternative approaches for the next proposal.
Step 10: Last but not least, bow out gracefully.
When you have exhausted the previous 9 steps, know when to quit, but do it with confidence and style.
Don’t just disappear. Let the prospect know that you are convinced your station can produce results for them. Let them know you would like to have another account executive tackle the challenge, and ask them what they look for in a media account executive so that you can better select the team member at your station to serve them.
There is no shame in another account executive making a sale where you could not. If your account trade results in a win for the station and a win for the client, you are a winner. There will be clients that others couldn’t sell that you could sell, and visa versa.
Remember, if you’re not getting any no’s, you’re not trying hard enough, and if you are getting too many no’s, you aren’t preparing properly.
In closing, remember to take responsibility for no, and retrace each step in your process to learn how to get to yes.
More often than not, when you question to uncover the real reason for the no, it’s very likely you’ll uncover what it takes to get a yes.
ENSMedia Inc. 705-484-9993
|10 steps to take after your prospect says ‘no’.
In last week’s ENS on Sales, we said you would probably rather endure a root canal than hear your prospect say, “We like your presentation but……”
But understanding why a prospect says no is one of the most valuable steps towards yes in your entire sales process.
In this issue, we’ll explore the first five of the 10 Things You Can Do After Your Client Says No, not counting taking hostages until they say yes.
Step 1: Never Take No Personally. Structure your presentation so that ‘no means no’ to this particular presentation ,this idea or at this time… not no to you personally.
I’ve always felt that if the client says no, they are the loser not me, because I’m simply offering to solve their problems.
Never let your tone or body language convey disappointment after no.
Change your posture and demeanor to one of curiosity and sincere interest.
Step 2: Take Responsibility for the No.
Generally, when you get a no, it means you missed a no earlier in the process. After no, you need to retrace your steps to find the no you missed along the way.
Take responsibility for the no with questions like;
Can you help me understand why my proposal isn’t appropriate at this time?
Never argue and never try to prove the prospect is wrong. Always ask questions to discover where you missed the mark.
To take responsibility for no, you must understand the root cause of ALL nos.
Your prospect did not agree to sit still for your presentation because they had no interest. Assuming you are talking to the real decision maker, no really means, “You have not convinced me that I will get a return on my investment”.
What would you guess is the number one reason advertisers advertise?
Our survey, of 540 locally owned and operated businesses, revealed that the number one reason businesses advertise is to increase sales. The root cause of no is always that you have not convinced your prospect that you will increase their sales.
So the ‘no budget’ excuse, or any other excuse for no is always a cover for the real reason. You have not convinced the prospect that you have the best solution to increasing sales.
Business owners are entrepreneurs by nature and seek to minimize the risk in every investment. Entrepreneurs will sell their car or borrow from their mother if your presentation convinced them their investment will pay off.
A no can only be turned into a yes when your prospect wants to achieve the goals you have identified and when they believe your solution is cost effective.
You made your proposal because you believed it was good for the prospect, and now you need to take responsibility to learn why it missed the mark so you can make a better presentation the next time.
Step 3: Be Prepared to Negotiate.
Some buyers say ‘no’ as a negotiation tactic to capture a better deal.
Always build enough into your presentation to leave room to maneuver.
Again, ask questions to determine if this is a negotiation tactic. Questions like; What would we have to do to make our proposal work for you?
Be prepared to practice our ‘Negotiation One-O-One’…never give one without getting one.
Step 4: After no, Always Leave the Door Open. If you have not been able to turn the no into a yes, get agreement on next steps, again through questioning.
Questions like: Now that I have a better understanding of your situation, may I make an appointment to do another presentation that addresses your concerns and achieves your objectives?
Always try to get agreement on a specific time table for next steps.
Step 5: If the no is a veiled no, like, “I have to think about it” or “I have to talk to my partner or accountant”, ask questions to remove the veil.
Questions like: What is it in our proposal that requires more thought?
In our next blog, we’ll address the rest of our 10 things to do after your prospect says no.
ENSMedia Inc. 705-484-9993