The Sales Leader

Fact Finding

While the greeting may set the tone for the rest of your sales cycle, fact finding helps you steer the conversation in the direction it needs to go.  Fact finding is essentially asking the right questions, so that you can understand what specific product or service the person or business you are speaking with will want or need.

Once you've greeted your client or potential client, now you need to find out what their needs are.  If you haven't done so already you should have a list of pre-qualification questions that you ask to almost every client so you can figure out what product or service will fit them best.  The fact finding step is important because without it you could either oversell or undersell your client.  If you oversell them, then chances are two or three months later, they call and complain or worse spread negative press about their experience with you.  If you undersell them you're leaving money on the table and not providing proper service to the client.

This fact finding step is simply the gathering of information in a conversational manner so that you can select the product or serivce that will fit them best.  While this step should be conversational, it should also be clear to the client that this is more than just a casual conversation but specific questions that will result in you being able to help them in the most efficient manner. 

A few generic pre qualification questions may be: How old are you?  Are you married/kids?  What model do you currently own?  Are you happy with it?  Are there any specific needs you have for the item you're considering? 

These are very generic questions, but you should have a list of five or six prequalification questions that help you narrow down what will work best for them.   You don't want to ask so many questions they feel like in a police investigation, but you also want to ask enough questions to easily identify what can help them.

The fact finding section of the sales process is very simple and easy but it is so, so important.  Without it, you have no idea how to best serve the client's needs.   Without it, you're just guessing at what they need and if you're wrong you may lose the sale altogether. 

The next step of the sales cycle is the selection stage and in the next post we'll discuss how selecting and describing what you are selling them is vital.  It also sets up the oh so important but often skipped over trial close. 

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The Greeting

Hello again!  It has been a busy week, but I want to resume our conversation on the sales cycle.  As you may know, everyone has a sales cycle, but to be successful it is important to know the steps of your sales cycle and stick to them.  Now based on what you sell your sales cycle may be slightly different than this. What is important though, is that you identify what your sales cycle is and then are religious about sticking to that cylce when selling.  So these next several post will serve as guide for the sales cycle most people will use.  

The first step is: The Greeting

Your greeting is by far the most important part of the sales cycle.  You can be awesome at what you do but if your greeting is off you're going to get shut down before you even get started.  When I start teaching people effective sales I always start with teaching them how to have an effective greeting.  For the purposes of this article I'm going to assume that you're in outside sales, meaning you are approaching people or businesses that have not requested your products or services.  

Since you are approaching people who have not specifically requested your product you have about 10 seconds to give them a reason to listen to you further.  Then after that you only have about two minutes to achieve your objective which is to get a sit down meeting.  

So the first step is (and this may see obvious) to be warm and friendly.  As you approach them try to find common ground quickly but be quick and to the point as to why you are there.  An example of this may be:

"Hi my name is Jim, I don't think we've met yet.  (Allow them time to offer their name and if they don't offer it simply ask.)  Bob (owner or decision makers name) it's nice to meet you!  The reason I'm here is because I work with some of your neighbors providing ________ service and I thought you and your company may benefit as well.  Could I have about 10 minutes of your time either today or later this week to show you how I've been able to help _________ company next door?"

It's just that simple.  That approach took less than 30 seconds  It's goal was mostly to start a conversation that will allow you to enter into the rest of your sales cycle, namely the next step which is Fact Finding.  We will cover Fact Finding in the next post, but that is where you determine this particular person's specific needs and diagnose how you can help them.  

What is important right now is that you get good at your greeting.  You will go no where in sales if you don't have a great greeting.  Practice your greeting with friends, coworkers, your spouse and the best practice of all - by going out and doing it.    

Very rarely does a business owner say yes to an appointment after just the greeting so more informaton is needed which again we will discuss in future posts.  

Have a great day and please comment on this post with any questions you have. I will do my best to answer them in a timely manner.   

 

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The Sales Cycle

Below you will find an overview of the sales cycle.  For a successful sale every one of these steps must happen and they must happen in this order.  If you take any of these steps out of order you may still make a sale but it will not be as successful as it could have been.  In the next several post I will go more in depth on each of these sales steps.  

1. Greeting

2. Fact Finding

3. Selection

4. Trial Close

5. Negotiation

6. Close/ Write up

7. Follow up

Greeting - This is arguably the most important part of the sales cycle.  You must be confident and friendly.  You need to be engaging but also allow the customer enough space to not feel overwhelmed. 

Fact Finding - This is where you engage in conversation with the customer and asking specific pre-qualification questions so you can find out which product or serivce is going to work best for them. 

Selection - This is the step where you suggest one or more products that you feel would best fit the customers wants and needs.  

Trial Close - This step is very important and often skipped over.  In the selection step you determined which product is right for them.  In the trial close you suggest the next model up to see if they want the  "Cadillac" instead of the "Ford."  The trial close allows you to see what the customer is comfortable purchasing.  Are they happy with what was decided during the selection step or would they prefer a nicer model?  

Negotiation - Now that you know with certainty what the customer wants you begin the process of negotation.  This is where you talk price, payments etc...  Negotiation sets the stage for the rest of your sales process and if done too quickly or incorrectly it could derail your sale even though you are 75% there.  

Close/ Write up - This can be two steps in some cases but often is one fluid step.  The customer knows what they want and there is agreement on the price and payments.  Now you simply put the deal on paper.  If you have done the rest of the sales cylce correctly this step should be easy.  By now the customer wants your product or service and you know the product is right, the price is right and timing and delivery is correct as well.  

Follow up - The difference between a good salesperson and a great salesperson is follow up.  Follow up is how you get repeat customers and referrals.  Go over and above in your follow up and your customers will be telling everyone about their excellent experience will you.  

 

During the next several post I will go in depth on each of these steps but here are just a few pieces of information.  First, as stated before, it is very important that you do not use these steps out of order or skip steps.  If you skip steps or only complete a few of these steps you will not be nearly as susccessful. 

That is all for today but check back in for an in depth look at each of these steps in the coming days.

 

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Top Salaries in the Business World

Here is an interesting statistic, according to job site www.indeed.com, below are the top four salaries of common jobs in the United States.  

1. Medical Doctor $223,000

2. Business to Business Outside Sales Rep $174,000

3. Network Engineer - $128,000

4. Corporate Lawyer $93,000

 

If you simply do an internet search for "top salary of _______________"  Indeed.com seems to be the most reliable source outside of the Bureau of Labor (bls.gov) 

Some interesting points to note here, each of the other three jobs on this list require at least 4 years of college and more than likely six or more years in college.  Medical Doctors regularly spend 10 or more years before they are making decent money.  

Even though someone in outside sales does not need to be college educated I strongly believe that they should be.  I am a huge proponent of education and though it's not financially feasible for everyone data suggest college educated people make more money.  In fact, college education people make on average twice as much as people with only a high school education.  Please see the article from forbes for more detailed information on that.

http://www.forbes.com/sites/johnebersole/2012/08/08/why-a-college-degree/ 

The main thing here is that continual improvement is a must for any of these jobs.  No one will be successful unless that are able to learn, grow and continue to get better at their job.   

Sales often gets a bad reputation, but successful outside sales reps have the 2nd highest salary of any job in the country!  And to be honest, in my profession I know many people who made way more than $174,000 last year.  

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ACTIVITY

Before we get into  more detaied information about the sales cycle, customer service, developing warm leads and the many other topics I plan on covering through this blog I feel I must cover this one topic first.  

Activity.  

You could have the greatest approach, overcome objections like a champ and offer customer service like no one else, but if you don't simply go out and make the attempt it's all for nothing.  

I have worked with people who had phenomenal people skills and were great at sales but they got too caught up with the details. They became so caught up that they mentally talked themselves out of going out and making even one approach.

On the flip side, I have trained average and below average salespeople who would be rated as poor communicators, but they just went out and did the work.  They turned out to be much more successful that the person who outwardly looked like they fit the part.  

Activity. Activity. Activity.  

You have to approach potential clients in order to have the opportunity to make the sale.  Now in following post I will teach about the best ways to approach a potential client so that it's not awkward, but none of that matters if you don't make the attempt.  

This one thing is so simple but it is also the one thing that derails most salespeople.  

Whether you are in inside sales or outside sales just making the approach is the primary thing holding you back from unlimited success.  

Here is another important factor in regards to activity; if your goal is to make one sale, then your approach goal needs to be far higher than just speaking to one person.  You need to make it a goal to approach 20 or 30 people that day.  Hopefully by approaching a much larger number of people than neccessary you actually end up making multiple sales.  

Focused activity is the number one best thing you can do to be successful in sales.  

If you are an inside salesperson than 70% of the job has been done for you - people are coming to you and now you just need to know how to approach them.

If you are in outside sales this is all the more important because you need to find qualified cold call leads often times.  I will teach you how to do both.

That is it for now.   Keep your activity up and it's only a matter of time before you are successful! 

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Yes

What is the number one way to get a sale?  What is the one thing you can do to put your client at ease and build a bridge of connectivity.

Say yes.  

Just say yes.  

Agree with whatever your client says.  In order to get your client to say yes to whatever service or product you are selling you must get them in an agreeable mood first.

This may seem counterintuitive when your client may have some very significant reasons why they don't want to do business with you.  

What if your client openly states that your product is too expensive and their is no way he/she can purchase anything today.  "I'm just looking." 

Your response: I agree.  This particular item is certainly pricey.  I want you to know that my job is to find to the right product for you, that fits your needs exactly, at a price that is agreeable.  Allow me to show you some of the unseen benefits of this product.

Agreement is the crux for any negotiation and to gain agreement at the end their must be agreement throughout.  

Challenge:  Spend the day agreeing with everyone you speak with.  No matter what they say, agree first and then present your side.  

 

The New Secrets of the Sales Leader

Hello! Welcome to my inaugural post on salesleadership.typepad.com.  Through this blog I hope to debunk the myth of sales and salespeople.  I hope to teach you to become a sales leader! 

I have worked a variety of sales related jobs from retail, inside sales and outside sales.  I have always been a sales leader with each company I was with although my "sales process" typically looked far different that those I worked with.  Though I didn't use the typical "pushy salesman" closes or follow a sales script like I was told.  I used directed conversations to drive my sales.  Now I work as a full time sales trainer and through this blog I hope to teach a few simple steps toward having directed conversations instead of being a high pressure sales person.  

If selling or sales scares you or you "don't feel like sales is for you" than this is the blog for you.  I will teach a few simple steps on how to ask the right questions, at the right time so that you can make the sale.

Through this blog I will layout a map that guides us through the world of sales.  This map will show how to have a sales conversation, how to gain referrals, traits of top salespeople and much more.

If, during these post you have questions, or I have not explained something clearly please feel free to ask!