A Great Sales Closing Technique – The Rule Of Three

Closing Technique –The Rule of Three.

Here’s a way to help your Prospect make the decision to commit to your offer/ proposal/ quote. This is assuming what you are suggesting solves a problem for them and you have discussed the issues it creates for them/ their business.

The first thing is as the salesperson you must believe personally it’s the best course of action/ solution! Do this each time with each opportunity.

Next you need to remember we are all human and we have a tendency to put off decisions unless there are consequences which will make us uncomfortable if we don’t act. Our Prospect is more likely to behave this way too.

So as well as exploring the reasons why the Prospect should act we should also investigate the reasons why they might NOT!

Let’s imagine you sell machinery and spares that form part of a manufacturing process. You’re a potential new supplier looking to secure the first order.

The kind of question you can ask might be: “OK so we’ve discussed how my business can help you. What will your options be if you don’t do this?”

Then keep quiet. Let them have time to respond.

The Prospect replies: “Well, we’ve looked at this a couple of times in the past so I guess we could just carry on as we are…”

This is good news because they’ve just told you an inner thought which they might not have shared unless asked.

Agree!

You could respond: “That’s true; it’s what you’ve done so far….”

This isn’t a case of who is right and who is wrong but it would feel that way if we try to re-position our solution too quickly. So we just acknowledge what they’ve just said. It doesn’t seem a typical salesperson thing to do and they will appreciate that. Next you continue:

“…how do you feel about the issues that would cause?”

We buy emotionally so we need to ask how they feel.

Prospect: “I reckon we’ve got to do something about it and what you’re offering seems pretty reasonable…”

You: “Great, let’s get started then…”

OR they say:

“It seems to make sense but it’s more of an initial outlay.”

You: “Yes, this way you’ll be purchasing fewer replacements. And that means there’s less down time as you’re not disrupting production swapping parts out. Plus the time to do routine maintenance is less due to the fact there are less pieces to take out and re- assemble. Let’s get started! ”

Three Reasons

The above response contains three reasons, three bits of value. It’s important to state three reasons because if we are to help the Prospect make the decision to move from status quo it needs to far outweigh the reason to stay as they are. Also we haven’t been faced with a cost objection unless we turn it into one! When they said “It’s more of an initial outlay…” that was just a statement of fact. It IS more of an initial outlay but that’s fine because of the gains they will receive.

When proposing, quoting, asking for business, with each opportunity, if you’ve got 3 reasons that the Prospect has given you in their own words earlier in the conversation you just need to remind them!

So, the process in this example is:

  • “what are your options?”
  • Agree
  • Deliver 3 reasons
  • Action statement (Close.)

Does this seem like we are stating the obvious? Good, because repetition and re-phrasing helps to re-inforce and it might be that the Prospect needs to hear it a few times in different ways to be convinced! Plus it could be that they are considering very similar options yet they choose to place the business with you because you were more convincing.

Be confident when using this approach and it will work! What piece of this blog has been helpful for you?

Would you like to see if I can help you further? Arrange a no obligation chat with me HERE.

 

 

 

 

 

Objection Handling: “Is The Objection You Are Hearing The Real Objection?”

An opportunity to work with a new customer stalled recently and nearly didn’t happen. I was contacted by the MD of a business who wanted to give his sales staff a sales refresher to bring their knowledge and skills up so they could sell more easily. He was talking to a couple of other providers too.

Fast forward through the initial conversation, discussion of objectives, proposal, and numerous follow ups by phone, he still hadn’t decided to go ahead.

During the next call I heard the same kind of response “I do want to do something except we’re busy with other things in the business still so we don’t have time to set aside for training…”

I decided to tackle the issue head on:

Me: “Yes, I appreciate things are still busy and have been since we started discussing helping your sales team. What are they doing that’s keeping them so busy?”

MD: “Well they spend some time on the road seeing some clients and the rest of it responding to requests for quotes…”

Me: “And how happy are you with the sales conversion from those enquiries?”

MD: “That’s the issue, we send out loads of quotes and the business is doing well but I feel that we’re missing opportunities…”

Me: “And how are they responded to and followed up?”

MD: “Pretty much exclusively by e mail for the initial response and the follow up tends to be done on a Friday afternoon.”

Me: “By e mail again?”

MD: “I’m told there are some calls made however I think mostly, yes!”

Me: “OK, I think I see what the issue is- you are getting good levels of enquiries, some turn into business but the conversion and volume is lower because your team are relying on e mail and not showing enough care to the Prospect or customer by finding out more. What happens if the customer or Prospect speaks to another provider who has shown more interest by initiating a phone call? You are immediately on the back foot as an e mail is ineffective unless it’s to clarify something which has already been discussed.

MD: “I’ve been asking them to do this all along.”

Me: “OK, it sounds like we’ve established what we should focus on together doesn’t it, how do you feel about us helping them to manage the leads more effectively to get the conversion and revenue up? We’ll even make some follow up calls together during the training so you’ll still have a productive day!”

(We went ahead and did this.)

How often do you hear the same kind of responses when following up? And then the responses stop and it goes quiet and you are in the sales nuisance category.

Maybe it’s time to challenge a little to understand if there is a different way you can help- in this situation the requirement went from being a sales refresher to focusing purely on management of leads. The issue stalling the opportunity became the motive!

Before following up have a few questions planned, challenge positively and adopt a problem solver mind set –there’s always a way, you just need to find it!

If you’d like more ideas to help you to sell more easily check out my blog & get in touch a chat to see if I can help.

 

Objection Handling “Happy As We Are!”

How Do You Get Past: “We’re Happy with Our Existing Supplier!”

One of my clients has to work very hard to win business. They operate in a really competitive market place. One of the most common objections they come up against is “we’re happy with our existing supplier.”

It can be really tough to manage a Prospect’s expectations on this one. And quite right too! After all they’ve applied some considerate decision making to adopt the current choice. Everyone likes to make more good decisions than bad and if something’s working it’s a good decision.

It’s almost arrogant to try shifting them unless you have a really compelling case backed up with stacks of evidence -proof that will make them the hero of their organisation if they start the process to look at making the switch.

That’s likely to take a while, in which case why not leave the issue alone for the time being? Go round it and find a way to earn the trust and confidence of the Prospect. Establish something that the existing supplier doesn’t currently provide. Something which is easy for them to implement that you can easily provide. You’re effectively asking for a few crumbs initially. This gives you an opportunity to demonstrate your service level and develop the relationship. Plus to start to engage in conversations adding value to their business and giving them advice around areas the preferred supplier isn’t.

Soon they’ll start to unsettle from the status quo and think “why aren’t we getting this information from these others?” The opportunity may even present itself with the incumbent under-delivering or just simply not showing they care as much!

If you have some challenging opportunities this may be worth a shot!

Need more help? Contact me martyn@golddusttraining.co.uk