It's always important to consider your pricing strategy when you sell. Recent research shows that in negotiations, higher first offers from sellers drive up sale prices—reversely, buyers benefit from lower first offers. You can increase that advantage by stating your offer as a precise, rather than a round number. Here's what they found. In an experiment involving customers … [Read more...]
Want to be more persuasive?
One of the basic principles of persuasion and influence is that we tend to comply with people we like. Why? We trust people we like. You need trust to influence others. How does this apply to you? The next time you meet someone new at a business function, a Chamber of Commerce meeting, or other business function, do something that gets you to be liked. What would that be? Stop … [Read more...]
Did you forget about your most important customer?
I often marvel how salespeople spend so much time managing their customers. They will prioritize them by size, revenue, profits and all types of criteria to see where they should be spending their time and effort. Of course that's a good idea. What they're forgetting is that they have another very important customer. It's their manager. Even if you're on commission, your … [Read more...]
Do Prospects Hit the Delete Key With Your Voicemail When You Sell?
There are just a few reasons why you're not getting a meeting with a prospect. Are you giving them a compelling reason to meet? Do you sound credible? Do they have a reason to believe you can deliver what you say? If your voicemail is irrelevant to their business get ready for the delete button on their voicemail. If you sound hesitant, too cocky, too meek, or unprofessional … [Read more...]
Are you thinking like an engineer when you sell?
Did you see Purdue University President Mitch Daniels quote in a recent Wall Street Journal Notable & Quotable? He talks about the problem-solving can–do attitude of engineers. That same attitude is what great salespeople have. The look at their customers and try to solve their problems and of course sell their products while they solve the problem. What’s wrong with … [Read more...]
How to know if your customer is ready to buy.
There are two factors that motivate customers to buy. They are pain or pleasure. Pain motivates more than pleasure. Unless your customers are experiencing enough pain there is no reason to do anything about it. Yet, just experiencing pain is insufficient to motivate a customer to do something about it and buy. You have to be very clear about how much pain he’s experiencing. … [Read more...]
Don’t try this at home…
Remember those commercials that showed dangerous activities? There was always a small caption that said "Don't try this at home." If you're watching/reading the news, you also don't want to try what they're doing in your selling. Representative Mike Rogers of Michigan, who chairs the House Intelligence Committee, said about the US-Syria foreign policy, "Putin is playing chess, … [Read more...]
Are you getting ripped off?
Does your sales process include submitting proposals? Does the proposal include a road map of the solution to your prospect's problem? That's dangerous. Your prospect could take your expertise and shop it to the lowest bidder. That has to stop. I understand that you want to demonstrate your expertise in the proposal. You can do this without giving your knowledge away. In … [Read more...]
Sell More By How You Sound.
How do you think you sound when you sell great products that you believe in? Confident, right? Now think about those salespeople who push products on customers. It’s hard to build the enthusiasm to mislead customers. Those people sound flat and unenthusiastic. Which do you think sells, confidence or lacking it? The research says it’s confidence. Dr. Alex Pentland, is a … [Read more...]
What Every Sales Manager Should Know
Imagine being hired to work on an assembly line. On your first day your manager gives you your work instructions. He says, "Put the parts together any way you want. It's fine with me." Sounds nuts? Well why is this being done in sales? Your manager should have an idea of how many quality sales calls you should be making a day. At least he should know a range. He should know … [Read more...]