Like any other game there are rules to Sales process, especially when it comes to closing deals. A deal usually has several parts, the idea invention by one party, then its acceptance by the other and finally the closure. The first two parts are much easier than the last in most cases.
The prospect understands the pros and cons of the product/service that you are providing him with. If they have a need, they will definitely search for a product/service that could cater to their requirements. But there is always a dark side to the coin. Budget and time are the two main objections which every sales person comes across. But, is there any way to turn these objections into opportunities and come out as a Sales Hero?
Here are the tips to make you a better “closer” even if you’re not the natural glib type but ready to rule the game:
1) Become a Sales Consultant: Winning deals is not that easy. You need to be smart, proactive and should have the capability of positioning yourself and your business as the “go to” company. As an inside sales representative you should always demonstrate yourself as a consultant or expert in your domain. As a “Trusted Consultant” you can charge more, because the prospect or the customer is not just buying the product/service, but they are buying the value that you have added to the product. To become a Trusted Consultant you need to think like a marketer focusing on a specific market who knows the in and out of it.
2) Be the First to Set off: Building relationship is one of the biggest challenges which every sales rep is facing today. There are lots of competitors and the main reason why businesses and salespeople face competition is because they get into the sales opportunity at the same time as everyone else. Because of this, your margins and success rate takes a dive. To avoid this situation you need to engage your prospects well in advance and stay in regular contact with them so that, when they are ready to buy, you’ll be the first to lead the race.
3) Ask Right Questions: Sales rep typically spend too much time pitching and not spending enough time asking right questions so as to discover the pain points of the customer. The study reveals that top Sales reps know how to ask the right questions to: (a) get prospects curious; (b) successfully handle sales objections; and (c) lead prospects to close the sale quickly. Doing a prior research before approaching the prospect could be of great help. You need to ask questions at the right time about the right things in order to get the information you need to make the sale. Thereafter you can use these questions to gather information which will help you in positioning your product or service more effectively. The difference is in the quality of questions you ask and the conclusion you derive out of it. The more you will ask the better solution you will give which in turn will add value and will increase your chances of winning the deal.
4) Hit their Emotions: Decision making in business is heavily backed up by logic but emotion plays a powerful role while considering on how you can win over a prospective client. As a “Trusted Consultant” you need to understand your prospect completely. Thereafter you can see if the logic isn’t on your side or you need something to set you apart from competitors, then an emotional understanding of the person sitting across the table from you can give you the edge. If you can get to the emotion, you’re much more likely to win the deal. So ask more probing questions. Once you feel that you have hit on the “hot button” or “pain point” then get more into it and wait for the right time.
5) Be Ready to Hear “No”: Every “No” from the customer is backed up by a reason – the prospect is not satisfied with the solution, you didn’t ask the right question, or you have not build enough rapport with them. When the prospect decides to buy the solution, it’s because of the value proposition of the product and not the product itself. As a Sales rep if you focus on selling the outcome and design ways to handle each objections, you will increase the perceived value of what you are selling which would lead to higher chances of hearing a “YES” from prospect.
6) Build a Social Connect: Inside Sales rep can Search for a common ground on Social media platforms like Facebook, Linkedin, Twitter and mention the same while composing their sales message. They can go through their prospects social profiles to find the same. This activity will help you in coming up with reference which would be of great help but if not so, then you can search for a common ground to build a connect faster. See which school or college they went to, their hometown, which sports they like, which brands they prefer etc. This will help you in developing and managing your prospects in order to have a competitive edge over other players in the market.