Have you ever called on a prospect that showed genuine interest, provided access to decision-makers, stated they had the budget to proceed and promptly returned all of your calls – but has not yet purchased from you? The prospect passed all of the markers of a “qualified prospect.” Perhaps they were even a match to your “ideal customer profile.”...
Many salespeople have difficulty competing against the challenging decision by a buyer to not make a purchase and remain with the current solution. The decision may be to 1) do nothing, stay put, or accept the status quo, or 2) continue with the current supplier. How should a salesperson best compete against those two options?...
Is the cost of doing nothing or remaining with the status quo really zero? Certainly, there may be times when the cost of remaining with the current situation, system or arrangement is zero, but that is the exception, not the rule. In classical economics we learn that an opportunity cost is the value of an alternative that you did not choose when a decision is made or simply what is sacrificed in order to get something. So, remaining with the status quo is not likely to be zero....
The good news is that you have recognized that you are a “Quota Sloth.” You recognize that you tend to let your pipeline building and business development activities slide while you keep busy trying to close sales, follow up with prospects – and perhaps even take it easy. You know that the law of the “mathematics of the pipeline” tells you that you have insufficient deals in your pipeline to achieve your annual sales target. In addition, you are staring at the possibility of several months of little or no sales because you have not been adding fresh prospects to...
Does a corporate prospect purchase a product because they are thrilled with the features and functions of a product that your team has demonstrated? Is it because they have an immediate need to fix a problem? Or maybe an executive needs to accomplish a strategic goal this year? It could be any of these reasons your prospects buy – or none of them....
Are you performing your web sales presentations as those previous to the pandemic? If so, you are not taking advantage of the technology or compensating for the disadvantages. I spoke with a salesperson recently who said she is finding it difficult to monitor buying signals now that she cannot see the attendees’ reactions and body language that she previously was able to observe....
When I ask salespeople who their number 1 competitor the response is usually the name of another company that they often face in the marketplace. But, THEY ARE WRONG! The real competitor in most B2B sales situations today, the one you need to worry about and the toughest to beat, – is doing nothing, no change, or keeping what they have. In other words, the black hole of “status quo”, or lack of inertia to make a change. It is the easiest and least risky choice. Buyers are naturally biased in favor of the status quo. They know it, have lived...
Objections are the single most valuable tool in a smart salesperson’s toolbox because they provide incredibly valuable insights...
Objections are the single most valuable tool in a smart salesperson’s toolbox because they provide incredibly valuable insights...
Maybe once you worked with the buying team for many months. You had access to the “key decision maker”. You received positive feedback about your offering being a good fit for the prospect’s needs. You mutually determined a favorable return on investment which indicates that the solution will bring clear value to them. There was no resistance to your sales price...