Closing Sales The Easy Way
There’s a fairly easy way to help boost your sales quickly…
“Hit them where it hurts!”
What do I mean by that? Well, you need to demonstrate to your potential customer where they are making losses, and show them how you are able to help! So by hitting them where it hurts, you highlight their weaknesses and show them how to get stronger in those areas.
I only realized how effective this technique was after it was actually used on me. A sales rep pinpointed a number of reasons why I was losing money within parts of my business and that convinced me to buy from him, straight away, before he even got to his sales pitch. It wasn’t really necessary for me to hear his whole presentation because just by highlighting those weaknesses I was unaware of, I realized that investing in him would be a worthwhile venture.
I interrupted him as he was speaking and said:
“There’s no need to carry on… I’m sold!”
“Features, benefits, savings, discount”, we all know those common terms that salespeople like to regurgitate all the time. But forget it! If you can skip all of that junk and just move on to the juicy stuff, show me where I’m making loses, and how you can help me – I’ll jump at the chance of being your customer. And when I say jump, I mean like a professional basketball player! But of course, it depends on whether or not you’re capable of fulfilling your side of the bargain!
The Throw-Away Sales Pitch
By the end of each week I’ve probably heard the same sales pitch at least 5 to 10 times. It’s basically encapsulated in one simple phrase: “We can save you money!”
Sure, just like the countless others who claimed they could save me money but provided a product that was of substandard quality or a service that failed to impress. I realized quickly that you get what you pay for. The term “you’ll save money” is something that sometimes sends a shiver down my spine!
However, if you put a slight twist in it, everything can change. Instead of saying “save you money” change it to “recover money”. It’s a small variation but it can have a tremendous impact.
The main difference between “save” and “recover” money is fairly simplistic. Saving money gives the impression that an inferior product or service is being offered. But conversely, recovering money implies that you’re about to stop reoccurring loses and prevent further damage. For example, someone who might be paying too much on a mortgage, or a big business which is losing customers because of their inability to effectively handle telephone calls.
You can apply that sales technique to any industry or business type, just use a little imagination and tailor-make ways to use it in your own business.
Using The Recovery Sales Tactic
Applying this concept is pretty straightforward. Just follow some of these guidelines to give you an idea of how to use the tactic most effectively:
1. Arrange meetings with all your potential customers who you believe would benefit from your product or service.
2. Take the time to research their company and determine areas within the business that are experiencing genuine losses.
3. Show your prospects how you can help to reduce or stop their current losses and how you’ll essentially recover the money that’s currently being unnecessarily wasted.
The last two steps are quite easy to put into action. As soon as you’ve arranged to meet a qualified prospect, just use a little brain power and pinpoint where they’re making losses within their business.
But Step 1 isn’t quite so simple, especially if you’re still involved in the cold calling approach. Cold calls will be almost useless in getting you an appointment with a truly hot prospect because most of them will be way to preoccupied with other work, or just have too much business acumen to even bother dealing with a cold caller.
In today’s economic climate, cold calling will usually get you appointments with some fairly low quality candidates. These prospects most likely have too much time on their hands and in many cases they’ll just be looking for free information. They might seem interested on the surface, when you first meet, but they’ll probably just end up ignoring your calls and follow-up emails.
Let’s assume by cold calling you were able to find prospects who have a genuine need for what you’re selling. The probability is that you’re going to be on a long list of other cold callers who’ve already made proposals that they’re considering. You’re just a small fish in a very big ocean.
So things need to change if you’re going to find prospects who’ll give you their undivided attention. Cold calling is quickly growing old so it’s time to start using intelligent lead-sourcing techniques. These can range from online marketing, social media, networking, referral selling, and a wide range of other possibilities.
After you realize the importance of getting verified leads, you’ll be able to use this powerful sales technique to start closing a large number of sales with genuinely top quality prospects. And at the same time, you’ll build up a database of satisfied customers who’ll come back to you again in the future, while referring you to their associates and friends!