3 Reasons Why Objections are Not a Bad Thing3

By Tibor Shanto - tibor.shanto@sellbetter.ca

No sales keys

Most sales people think about objections as being a bad thing, a lot of sales people and worse leaders, get really uptight when it comes to objections. Often before we have even began to define parameters with stakeholders, they’ll say “Oh, and we need an Objection Handling session”, they want to take a tennis approach to managing objections, prospect “throws” out an objection, and they want to hit it back to them. But objections are really not a bad thing, not always convenient or easy to manage, but they are not a bad thing.

Here are three specific reasons why objections are not always a bad thing (no specific order):

  • Indicate engagement
  • Allow you to introduce more value/information/facts without pitching
  • Allow you to qualify – disqualify buyers

The goal here is not to specifically give you techniques, but more to get you to relax a bit and see how objections are good for you, your sales, humanity, and global warming.

Keep in mind that for the most part objections come up in two ways, when you are trying to engage or prospect them, (we did a six part series on this, you can find Part I here). The second is when you are trying to gain agreement, either during the sales on specific points that will move things forward, including simple Next Steps, or at the end when you are trying to complete the sale. In either case, what follows will help you put things in a different perspective and let you use the objective to improve your selling, as a whole, and in specific deals.

Indicates Engagement – Even though some objections during the prospecting phase are knee jerk on the part of the buyer, the fact that they “are responding” allows you if prepared, to deal with that objection and segue to a conversation, key is being prepared. As you get into the sale, the objections will be more specific, a direct reflection of what the buyer is thinking, and how they are interpreting what you are saying, and if they are not clear, an opportunity to correct course. Even towards the end, with the lowest form of objection, the price objection, it is an indication that they are involved, capitalize on it.

Allow you to introduce more information/facts/value without pitching – Every time they object, they are in effect asking a question of for clarification, what a bonus. You can get a sense where their thinking is at, introduce additional elements. You can usually go deeper, and more importantly ask for more clarification on the part of the prospect. “Help me understand what you mean by…” Many objections are really questions, or the buyer evaluating things and they vocalize them, it is my chance to recalibrate, add useful value elements, align with the buyer, and move forward.

Allow you to qualify – disqualify buyers – Sellers are always looking to qualify buyers, well their objections are a good qualifier, and as I have argued in the past, if your qualified prospect to closed ration is less than 50%, your time is probably better spent disqualifying those that you know will not close based on experience, which will leave you with more “qualified” buyers. Objections are a great way to disqualify, if you cannot manage and move beyond, you need to accept that it is time to move on, rather than play objection tennis, where you always lose. The big thing is that every time you disqualify a prospect, you have to replace them with a new one. Which is why some sales people would rather pretended they doing productive things by dealing with insurmountable objections, than doing some prospecting.

How you deal with objections is a different post, and there others out there with some great ways. But first you need to deal with how you view objections to begin with.

What’s in Your Pipeline?
Tibor Shanto 

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To Call or Not9

By Tibor Shanto - tibor.shanto@sellbetter.ca

Touch

I am often asked a question I really hate, and while I have learned not to let it get on my nerves, and usually manage to deal with it calmly, it still pains me that my fellow professional sellers would ask it. The question relates to how vigorously one should pursue a potential prospect? I find the question bizarre on a number of levels, not the least of which is that today’s potential; prospect is tomorrow’s prospect, next week’s customer, and a stream of revenue (if not commissions) for some time after that. Ya, you should pursue it vigorously.

I am have a hard time not screaming when a sales person asks me “Should I call that prospect or not, I called him a couple of weeks ago, he didn’t call back, I guess he is not interested.” No, from where I sit, it is the sales person making that statement who is not interested. If they were, they’d be reaching out to the potential prospect, not asking the question. Not only do they lack the interest, but a good and executable pursuit plan needed to engage the potential prospect and start a mutually satisfactory relationship.

Consider the following:

48% Of Sales People Never Follow Up with a Prospect
25% Of Sales People Make a Second Contact and Stop
12% Of Sales People Make a Third Contact and Stop
Only 10% Of Sales People Make More Than Three Contacts
2% Of Sales Are Made On the First Contact
3% Of Sales Are Made On the Second Contact
5% Of Sales Are Made On the Third Contact
10% Of Sales Are Made On the Fourth Contact
80% Of Sales Are Made On the Fifth to Twelfth Contact

It is clear that the answer is not whether you should make the call (e-mail, tweet, smoke signal…) or not, but how many times, and what will you communicate. It is one things know how to spell nurture, another to execute it well

A good pursuit plan maps out how many touch points you will execute, in what sequence and frequency. Frequency is an important often overlooked or mismanaged factor. These touch-points should be made in a much narrower timeframe than many recognize or feel comfortable with. If you set out a pursuit plan that includes say eight touch-points, which is a median number, some go higher, some go lower, if you’re going to err, err on the higher end, so eight is about right. The time horizon should be between three to four weeks at the max. Long gaps, a week or two will just diminish the compounding effect of the touch-points.

When looking to connect with someone you have had no direct contact with, two or three touches a week are necessary, but most people don’t want to do more than one a week, you may as well not bother. One of the reasons they don’t call you back is you are allowing them to forget about you, and more importantly what you are trying to engage them around. That combined with the fact that you lose focus, and allow your attention to wonder during the long gaps.

The other key component is the combination of content, and medium. While I still think that Marshall McLuhan, would have been a lousy sales person, because it is the message that drives revenue, the medium does count. A combination of phone, e-mail, text, LinkedIn, tweets, introductions, smoke signals, you name it. No single touch should overwhelm the recipient, remember the goal is to engage directly not to sell. The content should entice the recipient to engage, while each may build on the other, the goal is to have the opportunity to complete the picture directly, even if it takes a few tries.

What’s in Your Pipeline?
Tibor Shanto 

Social Selling is Just Good Selling – Sales eXecution 2440

By Tibor Shanto - tibor.shanto@sellbetter.ca

Last week I had the honour of placing in the top 10 of the 30 The Top 30 Social Salespeople In The World.  But more than ever before it highlighted the need to unhyphenate sales, and focus on those things that make sales people good at what they do.  I can’t speak for the others on the list, but I do not see myself as a social seller, but as a sales person who takes the profession seriously, and as a result of that commitment use every available tool to communicate with my market, and deliver avenues and means for them to achieve their objectives vis-à-vis their business.

top30socsale

This is why I had some gentle fun with Social Selling’s predecessor, Sales 2.0. These are not just marketing terms, but limiting terms, especially in the hands of the wrong people, especially the pundits. If Sales 2.0 was the label for those who were leveraging Web 2.0 tools and opportunities in their sales, then what number do we assign to those sales people who were early adopters of the first wave of web capabilities, Sales 1.0? What about those of us who jumped on things like portals, the original BlackBerry pagers, Sales 0.0. And what of the sales people who invested in Palm Pilots and green screen e-mails, Sales -1.0. Take to the logical conclusion voice mail in the 1908’s Sales -3.0, answering services introduced in the 1930’s Sales -6.0, etc.

Silly marketing terms that pre-occupy sales people and sell products for those selling to sellers. So let’s unhyphonate sales, especially silly, potentially revenue destructive labels like “No Cold Calling”, “Referral Selling”, “Trigger Event Selling”, and others. These address one small aspect of sales in a very incomplete and ineffective way and serve only to sell a product. This may explain why some were left off the list who are in one light much more “social” than many of us on the list.

I can only speak for myself, but I suspect I was on the list because I love selling, and writing about selling and will use every available tool and means of selling better, these days that includes social. I think if you want to hyphenate sales, there should only be one Good-Selling, everything else is just packaging.

What’s in Your Pipeline?
Tibor Shanto

 

 

Mistakes Are Better Than Regrets – Sales eXecution 2430

By Tibor Shanto - tibor.shanto@sellbetter.ca

Crossed Fingers

If I had a dollar for every time I heard a sales person say “I should have …”, I could start working a three day week. And for all the coulda shmoudas, the risk for not acting was not that much greater than not acting, but the rewards always measurably bigger. I have never understood how some can live better with the regret of not having gotten a sale because they did not act, versus worrying about not getting an account because of a mistake they made attempting.

We worry about making mistakes when it comes to accounts, or meetings, usually unnecessarily so, and usually due to a lack of a proper pursuit plan, or process. Process here refers to a set of necessary and common-sense activities required to move the sale to close, executed in a logical and sequential stages, not something overly complex just for the sake of being complex, or more expensive. But the ‘process’ is not the end all and be all, as many mistakenly believe, it is the jumping point, the platform that allows you to act and measure progress and recalibrate when needed, but none of that matters till you act. It is when you act and make mistakes that you can correct, vary, and act again. Mistakes can be corrected, regrets you just carry around like so much luggage.

This unfolds with meetings as well, I often hear sales people say after the fact “I should have asked…” So why don’t they? One simple reason, they didn’t write their questions down in advance, and simply forgot, they didn’t want to look amateurish, but many buyers tell me they just see that as being prepared. More often sellers tell me they didn’t want to sound foolish asking such a simple question. What’s the old question: “do you want to be rich or look cool?”

Many sales people tell me that they don’t want to act “until they have it right”. They practice and rehearse – a good thing – till they feel they have it “perfect” – not a good thing, because no one is ever perfect. Selling is not like figure skating at the Olympics where you get a score for “artistic merit”, more like speed skating, successive qualifying rounds, semi-finals, and finally the big race. Perfect is not as pretty as success, and success is not always pretty.

While the intent of doing your best is a good one, and I have always said that intents go a long way, buyers are very much in tune with your intent, and are very forgiving when they know your intent was good, despite questionable execution. But without action on your part, there is no way for the buyer to see or gauge your intent. It’s a lot like not leaving a voice mail because “no one ever calls back”, how could they if you don’t leave a message or number?

If you’re going to err, err on the side of acting and dealing with the outcome, not on the side of staying on the sidelines and rationalizing the might-have-beens. In sales, it is about execution – everything else is just talk!

What’s in Your Pipeline?
Tibor Shanto 

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I Made a Sales Mistakes, Have You? And then What…?0

By Tibor Shanto - tibor.shanto@sellbetter.ca

Mistake

Seems it is a week of posts about sales mistakes, Monday I discussed a mistake made by a company trying to sell to me. Today, it is one of my mistakes that takes centre stage.

We all make mistakes, it is a trait of being human. The real opportunity is in how you deal with mistakes you make. The fellow I discussed Monday choose not to do anything about his, below is an example of a recent one I made, and how I dealt with it. What was a sales mistake you made in the course of selling and what did you do about it?

Last week I made a fatal, or near fatal error. I had sent a prospecting note to senior executive, and I let the auto-correct get the better of me, as a result I got the individual’s name wrong, interestingly enough their name is a common vocation, and I allowed the phone to replace it with another common vocation starting with the same letter. Not excusable, I should have caught it, I messed up with a capital F. With a name like Tibor, you can imagine I get my name rearranged on a regular basis.

The individual in question wrote back chastising me for the error, pointing out getting the name right was Sales 101. I don’t blame them for doing so, but it occurred to me that my mistake was not related to Sales 101 at all.

Sales 101 in my experience relates to actually acting, as in the act of proactive prospecting, acting on an idea, or acting in a way that gets the results you set out to get.

On a daily basis I hear sales people say they can’t do this, or can’t do that; I sometimes get the sense that what they are really saying is wont. I also hear that they find it difficult to get in front of their prospect, they can’t write to senior executive, “e-mail don’t get a response, they are never opened.”

Well clearly the one I sent was opened, otherwise my mistake would not have gone unseen, the technique works, one point for me, let’s keep using it. The goal of having a call was not eliminated, and whatever the ultimate outcome, their response allowed me to address my mistake. I apologised directly for my error, no excuses, humanize the process, and continue on. A case of taking lemons and making lemonade, I’ll let you know whether my intended prospect adds some sweetener, I suspect not, but I did my part.

My Question To You:

What was a sales mistake you made that you had a chance to deal with in a positive way, and snatch success where others may not have? Leave a comment below, or send a tweet to @TiborShanto.

What’s in Your Pipeline?
Tibor Shanto 

Inbound, Outbound and now Nowhere Bound – Sales eXecution 2410

By Tibor Shanto - tibor.shanto@sellbetter.ca

OOOPs

I have recently become a victim of some bad, no absolutely terrible, attempts at prospecting by people who bring little to their chosen profession, sales. But while it may be easy to blame the reps alone, their companies need to share in the blame and shame. Last week I was so pissed, I had to pick up the phone and call the rep and the company directly. Not surprisingly they did not understand what I saw them doing wrong.

To begin with, I or anyone in my company, has no absolute need for their “solution”. Yet another example of “solution selling” gone bad, unleashing a rep who runs around the country side looking for a problem. So why they would have wasted time and energy pursuing me is beyond me, but they did, and here is how it unfolded.

Last month I got an e-mail, presented in “very familiar” way, and it started this way:

Tibor,
Happy New Year!
I wanted to follow up to determine an appropriate time to….

I speak to a lot of people, did not recognize the name of the rep or the company, maybe this was due to the excesses of the holidays. So I did a quick search through my e-mails, sales software, LinkedIn, but nothing. I looked at the company page, not anyone I had prospected, nor were they at the top of my hit parade. Not wanting to be rude, or miss an opportunity, I sent them a note, asking what it was he was looking to “follow up to?” as I had no recollection of prior contact. No response, not a peep, and I promptly forgot about him, his note and his company.

Four weeks less a day later, another note:

Hi Tibor,

As a follow up to our last touch point, I wanted to see if now is perhaps a better time to briefly discuss….

He’s got balls, I’ll give him that, not much integrity or ethics, and I say this as someone who has proclaimed to know where the line is, happy to step close to it, but never cross it. He clearly had no issues in crossing it.

I called him up, introduced myself, not saying what I do for a living, just enquiring what we were following up to, as per my earlier note. He told me that they do it all the time, and he further defended it by saying that this is done all the time. I suppose that’s true, and everyday people get swindled in a number of ways, does that mean you have to do that too.

I am sure this kind of net cast every day, and I am sure the catch is healthy, otherwise they would make the effort to sell ethically. But I have to believe that if they did put the effort in, and assuming that their product has some merit, they would do much better than misleading potential prospects, and relying on those with bad memories. And while the debate over the pros/cons and merits of inbound vs. outbound will continue, and will the results of both, I hope we can all agree that this type of prospecting is truly nowhere bound.

What’s in Your Pipeline?
Tibor Shanto  

Can You Sell Your Competitor’s Product?0

By Tibor Shanto - tibor.shanto@sellbetter.ca

Compete

Given today’s buying climate, chances are your buyer is talking to a range of potential providers, usually after having carried out some “independent” research. I say “independent” because one is susceptible to the echo chamber group think risk presented in an information overload, knowledge under-load world. For many companies, this is only made worse by the “be found” silliness being peddled by many pundits their sales people are being enticed by. In the past I have written about the power of “Land Mine Questions”, but if you are looking to win more sales this year, you need to go further.

One way to ensure that you are covering all angels to help your buyer make the right choice – you, is to be able to not only view the world through the buyer’s eyes, but also through the eyes of your competitors. While many sales people are familiar with their competitor’s product, strengths and Achilles Heel, great sales people go further to the point where they could sell the competitor’s product, better than the competitor rep can.

I was talking to an IT rep last week who is big on visualizing. He, like many I know, use a practice I use and recommend, which to visualize a sales meeting the day before, go through how you will open, If you know the people, visualize them sitting in the board room. Go through all the questions they may have, and think about how you may answer; picture yourself asking what you want to know, and go through the various answers they may give. Do the same for objections, what will they be, hear how you would answer them; all this allows you to not hear most things the first time during the actual meeting.

I suggested to him that he can take things one step further, by running through a meeting as though he was selling his competitor’s product, how would it be different, where would he feel exposed vs. the other vendor, what are strengths he can exploit. He asked if we could practice that, which we did the next day, his task overnight was to get into the head of is competitor. He jumped on the phone, and called their call centre, he asked them all the questions he hated, to see how they would respond. He then went on to ask questions around where he felt his product was a clear leader, to see how they managed things, and did so around a number of areas.

When we meet the next day, he not only felt that he was in a better position to accentuate his offering’s strength, but felt that he was equipped well enough to sell the other product, which helped him set a flow that would continue to differentiate and elevate his product over the other. As we rehearsed, we also made sure that he aligned the talk track to the buyer’s objectives, giving him the further ability to ensure that the buyer would see his product in a better light given their own objectives, more so than just on the basis of the products.

We’ll know next week how well he did. He felt his meeting went well, and if he does close the deal, it will put him a head of goal for the quarter, now, and ahead of the competition for some time to come.

What’s in Your Pipeline?
Tibor Shanto 

Once They Bought Product – Make your Client Change1

By Tibor Shanto - tibor.shanto@sellbetter.ca

change

Change is hard for all of us, that much more so for sales people. On one side they are trying to get buyers to change, clearly articulating the upside of change. Some of the most creative modern prose have flowed from sales people enticing their buyer to change, “Your business dreams, are but one change away”. Yet as sellers, we rarely hold that mirror up in front of us, we don’t like change, believe me I spend a lot of time helping sellers to change, and it requires a lot. Much like their potential buyers, they are resistant to new things, and are much more willing to live with the pain of what they know, than experience the pain they associate with change.

This could be the very reason why many sales people prefer to be “gatherers” – account managers than hunters. After all, spending 80%, 90% or more of their time with their base, allows them to regularly avoid having to talk about change. When they do, they are not only in-congruent, but on a number of levels dishonest with their potential buyers. After all, singing the praises of change all the while thing it yourself, just sends the wrong message, regardless of how much they rehearse, intentions and genuineness always rings through.

Not only that, but as soon as they “change” a buyer from their previous provider to being their client, they cast off their mask, and become steadfast defenders of the status quo, doing everything they can to make their client forget change.

But just like with fire, the best way to fight change, specifically the type of change your competitors are trying to sell your customer, is with change. Start by forgetting the product, yes, I know, it’s hard, such a warm blanket. While many are fixated with upgrade and new releases, there are other and “better” changes a good sales person can present.

As in the sale, the differentiation, and often the value, comes not from the product but from the sale. The way the seller engages, and conveys value to the buyer has to transcend the product, especially in a world where on a good day the overlap between you and number 2, is at least 80%. And once you are the incumbent, your competitor, number 2, will embellish that 20% until only a small discount is needed to entice your client away.

But if you the focus off the product, and placed it on how the client uses the product; how it specifically impacts their reality, their profits, competitive edge, or other non-product dependent things, then change is not about the product, but you, and what you do for them. Sure they can use the other product, but they will lose the benefit of you, your expertise, and the value you bring. It is easy to change the box, it will be hard to replace how you help them benefit from the box.

How to get from Interruption to Conversation when Cold Calling Webinar

There are still a few slots left for today’s cold calling webinar – start your own change, sign up now.

What’s in Your Pipeline?
Tibor Shanto

 

Please, New Is So Old Now – Sales eXchange 2361

By Tibor Shanto - tibor.shanto@sellbetter.ca

Future

I got a note from one of the pundits in my inbox telling me things I should do for sales success in the New Year. You may expect these type of things mid-way through December till maybe January 10th, but after that it is just an indicator that they don’t really understand B2B sales at all, and the customers they get as a result, they deserve.

As a sales person your really do need to live in the future, and fulfill in the present. You need to live in the future for two simple (probably more) reasons. First, if you are going to deliver real and lasting value to your customers you need to leave “ahead of them. If you are going to deliver to and drive their objectives, you have to be where those objectives will unfold, and that is almost always in the future. Especially with business leaders, be they leading small or large global companies. If you speak to these folks and you should, (as well as speaking to everyone else in the organization, it is not one über the others), you will notice that their horizon is in the future, based on who they are it could be six, twelve, eighteen months or more in the future. The have delegated the present to others in their organization, in the case of small business, they have relegated it to a different part of their thinking.

So if you are going to align and sell to them today, you need to be thinking and talking to things they thinking about, which means they have been in 2014 for some time, cranking up you preparation now, like the pundit suggest, nay, scream to the buyer, “This guy is no for you”, as my fellow Tull freaks will say he is “Living In The Past”. If you are going to step in to the roll of thought leader for these buyers, you need to recognize that you need to lead from the front.

The other reason you need to live in the future, is driven by the realities of calendars, fiscal years, invoicing and the payable cycles of your buyer. Let’s say you have a three month sales cycle (handshake to close), and you get paid when the first invoice is paid, 30 days is acceptable period for an invoice to be paid, you are going to need four months of run way for a deal to count towards your number this year. Which means anything you start after September 2, will be next year’s number. If it counts and you get paid, when the contract is signed, then that date moves to October 2nd. So if you were going to look at doing things a new way for 2014, you will have need to start that process last September or October, not January 26.

This is not to say that you should not always be adding new elements to your selling, just look at that as an ongoing part of your personal development, not an event tied to the New Year. Yes, I know the pundit needs to sell too, but you don’t have to buy if it will not help you now, or in the “now future”.

I am going to keep this mail as I am certain it is the exact same one she sent last January, with dates changed. I am not sure if I remember because it irritated me last year, or the fact that they used a stock photo used by a million other sites.

What’s in Your Pipeline?
Tibor Shanto

Customer Information – Why Protection is So Important2

CC Jan 14

The Pipeline Guest Post - Megan Totka

In the sales business, we hold the key to tons of information from customers. While it may be something as simple as their name, address, and phone number, it’s amazing what can be done with that information if it gets in the wrong hands. Sales companies also often store all kinds of other information – credit or debit card numbers, social security numbers, and so much more.

By now, surely we’ve all heard about Target’s information compromise issue. If you tuned out of the news for the holidays, anyone who used a debit or credit card at Target from Black Friday until just before Christmas likely had their information gathered by hackers. Banks are cancelling and re-issuing cards by the millions, and Target is trying to do damage control by offering free credit monitoring for a year to anyone who was affected.

Now, could Target have done anything more to prevent this major breach from happening? Maybe. But there are some valuable lessons to be learned about keeping your customers’ data safe. If nothing else, the Target issue is helping us to see how exactly consumers are affected when their data is misused. It can cause problems in nearly every aspect of their lives.

Here are a few tips, courtesy of InformationWeek.com, that we can do better in the future when it comes to keeping our customers’ data safe:

  1. Data encryption – while I don’t purport to be an expert on data encryption, it does make sense that companies (particularly those who are selling) should be constantly re-evaluating their encryption process and see if it’s working. This is the best way to beat the hacker game. They also suggest using a whole-disk encryption method rather than file-level encryption.
  2. Make sure that outside vendors know how important it is to keep your customers’ info safe – most, if not all companies outsource some of their file storage or data encryption to another company or service. Places that hold information to consider are cloud storage services or CRM software. Making sure that these companies have your customers’ best interest in mind before agreeing to use them is pretty important.
  3. BYOD – lots of companies are moving toward letting employees bring their own devices to work. While this is convenient and can be cost-effective, consider that your employees’ devices are absolutely not as secure as they could be.

Protecting your customers’ information is just one of the things required to maintain a positive customer relationship. It certainly doesn’t have to be difficult or very costly – but it is definitely a part of the business process that needs constant evaluation in order to be successful.

(Photo Source)

About Megan Totka

Megan Totka is the Chief Editor for ChamberofCommerce.com. She specializes on the topic of small business tips and resources. ChamberofCommerce.com helps small businesses grow their business on the web and facilitates connectivity between local businesses and more than 7,000 Chambers of Commerce worldwide.

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