Sales Tools for Handling Prospect Objections

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In the sales process there are points where a prospect may have reservations about making a purchase. In a sales role, your duty is to create a positive relationship where trust is quickly established and maintained. As the knowledgeable guide bringing your prospect closer to a solution, handling objections must be executed with tact and grace.

Avoid arguing with your prospect

Building a positive relationship with a prospect requires patience and tact. An adversarial relationship is less likely to lead to a sale and the possibility of a repeat purchase is extremely unlikely. Opposing opinions can be changed but your goal should be to encourage them to discover differences for themselves rather than push them into something they don’t want.

Give options not ultimatums

Engage your prospects in a conversation about options for their decision but be careful about putting them in a position of having to say yes or no to your offer. Forcing your prospect into an ultimatum may overlook reservations or issues that have not been addressed. The more a prospect feels in control of their decision, the more they can trust you to be their knowledgeable guide as they make their way towards their final buying decision.

Respond on an emotional level

Buying is an emotional decision and thus appealing to prospects feelings will create a stronger relationship. Until your prospects know that you recognize their concerns they will not be ready to hear your “logic”. By reducing ultimatums and encouraging more flexibility and emphasizing perception, the “feel, felt, found” method of communication can build trust.

Take blame when it doesn’t really matter

Some objections result from simple misunderstandings or miscommunications. Be aware that your prospect may have misconceptions that could impact your potential for a sale. Try to identify and clarify these as soon as possible.

Recognize the buying signals hidden inside objections

When a prospect has a specific objection it indicates that they are paying attention to what you are saying. In some cases one or two objections can often be buying signals in disguise. If you can isolate these issues the probability of a purchase can increase.

Make sure you are in front of all the decision makers

Your sales pitch has been designed to create excitement and reduce reservation, but if it is not targeted at someone with the authority to buy, time may be wasted.  If you are able to speak to someone in an organization make sure they are the right person, with the required authority.

 

Unmanaged Growth is one of the Greatest Threats to Business Survival

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The temptation to grow quickly is powerful

Exciting short term gains including increases in cash, customer base and sales impact your entire business in significant ways. Preparation for growth is key and anticipating how scaling for growth will impact your business will keep your business robust. For production, unmanaged growth can result in product returns due to production errors, missed deadlines due to production capacity overloads or even a complete shut down due to a lack of financial or other resources.

Start with your Strategic Objectives

To properly manage your growth over the long term, it is best to plan for it. Your business systems should be flexible so that as your business grows faster it can handle it. To be effective in the long term your Operational Strategy must guide the design of your production systems.

Maintain quality as a top priority

Quality is typically compromised when a company starts growing too quickly. Make sure you have the appropriate systems in place to establish your minimum levels of quality and a plan of action to increase quality over time. Wardell has some tips to to Avoid Poor Quality Production.

Optimize production to handle quantity

As your sales increase, your customers will expect you to handle their requests with the same speed, accuracy and attention to detail as if they were your only customer. Invest in your future growth, but do so within the limits of a carefully designed budget.  One way is to keep costs down by adding capacity only when necessary while the more expensive tactic is to invest for longer term growth.

Your customer expectation is reliability

The more your business grows, the more promises you make. Increased opportunity to create satisfied customers comes at the cost of creating many more dissatisfied customers if their expectations are not met. The very thing that creates rapid growth will cause rapid demise if not taken care of.

Managed growth is fueled by information

When a business grows the scale of activity is maginified. Managing the details of 5 customers begins to seem simple compared to managing 500. If quality and reliability are to be maintained with few errors, a robust information system is needed to identify needs and issues.

Manage the costs associated with growth

In addition to the more obvious direct costs of production, the wear on equipment, facility needs and management costs could increase as well. Scaling your operations to accommodate growth should look at the return on investment for various decisions.

Prepare for growth

While many companies dream about growth, few of them plan for the effects a sudden increase demand will have on their company. More customers means more revenue but if not managed correctly inefficiencies and errors can compound with disastrous consequences on the bottom line, existing customers and brand reputation. For more on managing growth you should watch our Entrepreneurial Skills Program.

Supercharge your Business with Effective Team Development

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Do the people in your company work effectively together?

A strong team dynamic is critical to meeting business objectives in the modern competitive business environment. While the virtues of teamwork are silently acknowledged, the direct benefits of working in a team are pretty clear. While individual experts may be able to perform their tasks, teams of experts can more combine skillsets to produce truly innovative work. Here’s our list to convince you why its worth fostering stronger teams:

Improved Quality

When two or more people focus on a shared outcome, the results are usually of higher quality than if they worked individually.

Better Communication

Teams enable information to flow more freely than might be otherwise possible in the hierarchy of an organization.

Multifunctional Capabilities

Teams are usually made up of individuals with complimenting talents and diverse skillsets.

Increased Creativity

When people with different skillsets are able to collaborate, the free flow of ideas leads to creative solutions.

Greater Productivity

Team environments can foster a competitive spirit by offering a direct opportunity for shared success. Teams made up of individuals from different departments are better able to cut through red tape.

Creating a strong dynamic relies on several principles of leadership and management. The creation of a strong team demands effective organizational design with precise job specification as well as a good conflict management protocol. Teamwork is only one aspect of an effective business, take our Business Strength Test to see how your business measures.

7 practices for a Rejection Proof Sales System

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Sales is just as much about the customer as it is about the salesperson.

Investing in a strong sales system is one of the most efficient ways to see a return on your employees sills. Rejection is a part of any salesperson’s job but with a strong system of support, guidance and continuous improvement your sales people can confidently perform in even the most competitive markets.

1. Hire sales people with the right attitude

Sales is a people oriented occupation, you need people oriented people to close a sale. Reviewing your hiring system will ensure you bring the right kinds of people in your sales department.

2. Create a bonus structure that kicks in at various predetermined sales volumes

“Financial Carrots” can help motivate sales people to close a sale. Review your compensation system so that it motivates the right kind of behavior in your sales department.

3. Insist on a minimum number of sales calls per day/week and track them

Establishing a baseline will guarantee a certain level of success for your sales people and will breed success from success.

4. Organize supportive and motivational sales meetings on a regular basis

Everyone needs a little push now and again. Review the communication systems you developed to determine the impact they are having on your sales department.

5. Provide ongoing sales training

Sales people are responsible for generating revenues so make sure they are continuously improving their skills and honing their pitch.

6. Provide outstanding sales tools

Great tools help sales people look and feel more professional. Review the tools you are offering and consult with your sales staff to make sure they are adequately prepared.

7. Encourage a corporate culture that promotes pride in your company

People who are genuinely proud of their company and its products have little reason to fear rejection.

For more a great advice, see what Wardell has to say on Handling Prospect Objections  

How to Build Trust with your Sales Prospects Part 2

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Switching focus from Behavior to Communication

Knowing how to act in front of clients will demonstrate respect, using the right words will help build credibility and trust.

Be mindful of your Speaking Tone

Stay positive

People are attracted to positivity. No matter how negative your prospects may be your energy and support will help them build a sense of trust.

Avoid clichés

Anything friendly and original will help you differentiate from the myriad of sales pitches your prospect hears from countless other businesses.

Avoid badmouthing the competition

Insults and criticisms may seem like an easy way to be superior but in the long term they reduce your credibility. Focus on the superior aspects of your products or services and keep a strong commitment to delivering value to your customer.

Under promise and over deliver

Meeting expectations is critical to building trust. Always promise to deliver at a level you can achieve without fail and demonstrate your outstanding capabilities when the final result is beyond what was expected.

Focus on creating a Connection

Focus on the prospect not yourself

People like opportunities to expresses themselves and these days few people take the time to listen. Keep conversation focused on the clients and invite them to share details of their life with you.

Listen more than you talk

Your role as a sales person is to listen needs so well that when you speak everything you say makes sense to your client, your status as trusted ally is increased by how efficiently you can support your prospects mission.

Call your prospect by their name

People like to hear their own name, it shows that you are building a more personal relationship and are not just looking for a quick sale. Using someone’s name needs to be genuine.

 From Talk to Action

Once you’ve gained your prospects trust you can increase your chances of a sale by applying 7 practices for a Rejection Proof Sales System.

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