Can we be better at helping customers to buy??
Let’s talk about price, values and so-called price objections!
What have we learned from B2B salespeople over the last 10 years through all sorts of economical climates?
- Price objection handling techniques of all sorts mostly do not work and are abandoned quickly, if ever used with a real customer
- Price objections are created by the seller and their use of value perspective. I very much doubt the buyer /stakeholder has “object to price” on their agenda
- The price issue is more often the perceived “difference” between you and any other supplier [note deliberate avoidance of the word competition]
- Salespeople need to be shown and taught how to JUSTIFY differences and they should handle this at the early stages of their Helping Customers to Buy process [maybe even while prospecting or handling initial enquiries!]
- Learning to pre-handle, when relevant, potential objections is a critical skill. Most products/services are faced with single or combinations of the same so-called objection daily!
- Learning to view financial values through the client’s eyes should be common knowledge at a certain B2B price range. We find that the knowledge of using investment perspective appropriately is often lacking. This becomes critical in helping key stakeholders influence the decision.
- NO DECISION for many of our clients was the Number 1 competitor – not other suppliers. Preventing these outcomes is all linked to Business Case, Cost Justification etc. A key improvement objective for all!
How can you help your sales team to grow and develop sales?
Get focused on key strategic elements and metrics analysis – here’s some simple thoughts to inspire change
- How do you present and justify investment to your clients? Please tell me it’s not sending a quotation with no recognisable business case?
- Integrate a financial solution [lease, contract rental, HP etc.] into ALL your prospects as a matter of process. Put it FIRST and justify the payments against increased saving or profits [it must be one of them!] regardless of how they ultimately buy!
- Get your salespeople trained/coached – what difference would a 10% increase in sales/profit make to you really?
- Adopt a marketing strategy around Easy to Buy
- Focus on increasing Average Order Value/Profit by bundling up against other suppliers [and justifying the difference in saving/profit]
- Get back to serious prospecting on a methodical basis – we LOCATE prospects not make them! Measure your effectiveness!
I hope I’ve made you think about areas where you can grow sales/profit, take some steps to improve… set up a sales growth and improvement programme customised to your business and individual sales needs.
Don’t let salespeople fail. If they had the right personality profile for the job when you recruited them … they’re probably as stressed as you by poor sales results!
Sadly, all too often a result of not knowing how to fix it NOT a case of not wanting to!
If you’d like to chat or take a discovery meeting contact us
Mike Ramsay – Persona Sales Development
Office: 01279 653652