In the business context, a price objection is a challenge of value and a risk/reward analysis. Consider this.
What if you were trying to convince someone to buy something from you and you said,
“I have a deal for you. You see this money I have in my hand? It is $1,000. If you will hand me $1,000, I will immediately give it back to you along with the $1,000 in my hand . . . a 100% return.”
How do you think the buyer will respond?
Of course he will say yes.
Why? Because he has stopped thinking about cost and he is focusing on the low risk, high return of the proposition.
In fact, he is probably hoping you can do it again, or raise the amount of the investment. The “price” is long gone as a hurdle.
The exact same dynamics are in place in every sale. We set a price, the buyer sizes up the risk and the reward, and if he likes the deal he will close.
So why is it so hard? Read more
As you might surmise, our Mr. Shmooze community includes all sorts of people who are interested in selling and communications including business owners, sales managers and salespeople.
Historically our focus has been on helping salespeople ply their trade, but over the years many of you have asked if we have anything specifically for owners and managers . . . something that can help you develop your strategies and build outstanding sales teams.
Because of this, I wanted to announce in today’s post our new, online course entitled, The Best Damn Sales Manager’s Guide Ever! Read more
I just got back from a trip. I was delayed in Pittsburgh on the way back to Austin through Dallas. The delay was almost certainly going to blow my 2:35 P.M. connection in Dallas, so I approached the desk at the gate for options.
There were two agents:
- The first one looked at me grumpily and said, “I cannot help you. I can only work on tickets with connections up until 2:30 P.M. (Remember . . . mine was at 2:35 P.M.).” I said . . . “Have you ever flown through Dallas? Their taxi time is long and the train loop is slow, there is no way I will make this connection.” She looked right past me and said “2:30 P.M. cut off . . . NEXT.”
As some of you know, there is a movie out about Fred Rogers who created and delivered Mister Rogers’ Neighborhood for kids for many years on public television.
It is getting five star reviews across the board for its surprising and powerful story of the man and his life’s work.
At one point in the movie, when Congress is threatening to pull the public television budget, Rogers is asked to testify in front of a jaundiced congressional committee. Read more
Are you performing well on a sustained basis as a salesperson?
Congratulations! You are very special!
Here is why:
- Less than 20% of the general population has the unique set of non-teachable personality characteristics to succeed as a salesperson.
Your company probably uses some sort of CRM program like Salesforce.com, which is great, but I have a question for you.
Besides logging in meeting notes, quotes and other business data, do you have a confidential place you establish and maintain the personality/emotional profile of your clients and prospects?
- What kind of buying personality do they have?
- Are they innovators or risk adverse?
- Do they like to get right to the point or do they like data?
- Do they enjoy forming personal relationships or are they suspicious of doing so?
Last week while traveling on business, I experienced something that, until recently, was a rare phenomenon at most restaurants . . . great service.
In fact, over-the-top service.
The hostess was smiling, engaging and actually made eye contact (as opposed to rolling her eyes since I did not have a reservation). Read more
Two good friends recently complained to me about the same customer service problem. It goes something like this.
They each needed some medical attention. They went in and the doctor checked them out. They received some light meds for comfort pending further diagnosis/test results.
And then . . . nothing. No follow up calls, no emails. Each of them had to do the following up . . . not directly with the doc but to administrators who had to dig through files before giving partial answers.
I had the same experience buying a car recently. Read more
If you are a salesperson, and you probably are if you are reading this blog, you are an extraordinary human being.
I mean it. Research shows that less than 20% of the general population has the innate personality characteristics, that is, the aptitude, to become successful salespeople. In our search business experience, less than one in fifty people who apply for sales positions have the potential to succeed.
That is because selling is a particularly challenging way to make a living. It requires taking significant emotional and financial risk. Not to diminish other jobs, but while our counterparts in the office receive a regular paycheck, most salespeople are paid only if they go out and actually generate revenue. No sale = no check. Read more