May 29, 2013 1 Comment
Ever get bad advice? I read a post this morning that struck me as such as it advised 3 Questions Sales People Should Ask Every Prospect. The three questions [taken from a longer 'disqualification checklist' of questions] recommended asking the following questions of every prospect:
1. What is your biggest [YOUR INDUSTRY] related challenge?
2. Why is what you’re doing now not working?
3. How do you go about making a decision like this?
In my post a couple of months ago, Are Your Questions Killing the Sale, I addressed the problem of exploratory questions like the first question suggested above.
In this post, I would like not only to implore sales reps to avoid squandering opportunities with prospects through exploratory questioning, but also provide compelling stats on the need to get the message right — from the opening question, through the closing of the sale.
Do you have the right starting point?
CEB had done a survey among 5,000 executives and decision makers that deal with sales reps, in which 86% of them indicated that the sales rep’s message had no commercial impact whatsoever to them.
86% of executives/decision makers believe sales rep’s messages have no commercial impact!
According to Tim Riesterer, Chief Strategy & Marketing Officer for Corporate Visions, he describes the buyers as coming away from conversations with reps believing that what they are currently doing right now…the Status Quo…is okay and they themselves are okay. How do they know? The Sales Reps led them to believe that was the case because there was nothing to suggest otherwise in their communication.
Sirius Decisions had similarly shocking results from their PMM Survey suggesting that the biggest inhibitor to achieving quota was the rep’s inability to communicate messages of value. Not surprisingly, what we communicate and how, is of great import to our results.
Yet, so many take the approach of winging it with prospects, and exploring their way through the sale.
3 Steps to Approaching Prospects Differently:
- Know your prospects and know your story. Don’t call indiscriminately looking for any customer that may or may not fit your solution. Be specific and call those whose story you know and that you can help based on prior experience. Have a solid understanding of the issues those similar to them are facing in their industry
- Establish credibility quickly. If you have the right story and the right prospect, you will be able to demonstrate understanding of the typical issues those in their industry face. After stating your purpose for the call, open with a statement that summarizes the business issues affecting their industry.
- Validate with the prospect. Successful selling is not a monologue, but rather a well-choreographed conversation. Therefore, rather than assuming everybody has the same problem and moving on without them, follow your statement with a question to validate if they are experiencing any of the same issues you just described.
Putting the three steps together, the opening of your call with a prospect sounds something like the following:
“We work with businesses similar to yours from all over the country and have found that each commonly face one of three business issues, given the [current condition]. Their most common issues tend to be [X], [Y], or [Z]. Is your business currently facing any of these same problems?”
If you have a solid understanding of the typical issues similar businesses are experiencing, not only will you get quick confirmation, but often times they say they are struggling with most or all three areas. This allows you to start walking down the path to lead them to the center of their own story.
Even if they mention a different problem, you are still on a better path to zero in on their issues and create complete unrest with their status quo.
If they are not struggling with any of the issues you described in your opening, then you either have the wrong story, the wrong prospect, or both. Go back to step 1 and dedicate the time up front to get this right as you likely circumvented the full process and have just cost yourself a prospect and your credibility.
On the other hand, if you dedicate appropriate time to these first 3 steps of opening with credibility and delivering a message of value, you will see immediate improvement in your close ratios.
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