What is an example of commoditizing a product? This is: “Our debit card will allow you to pay for services at no extra cost. All you do is swipe. Our bank account has no ledger fees. You will also access your account online or an app.” The prospect yawns: “What’s new?” he wonders. Indeed, what’s
Read More
Contrary to popular belief, money does not motivate salespeople; not all, not unendingly. In other words, increased monetary rewards (typically from increased targets) are not guaranteed to incentivize all salespeople. Even human resource personnel admit that money in itself is not a motivator. “How?” you wonder. “But money (present or absent) is a central theme
How does creativity contribute to sales success? How do you become creative in selling? Well, lets learn from these three sellers. Creativity in sales by reframing The owner of the construction was going into depression. He had miscalculated the cost of the construction and now was stuck with several units none of which were finished.
How do you determine what the customer wants, if he himself doesn’t? Or, doesn’t want to divulge it? Explore. To begin with, if only there was a list of customer wants. (Sigh!). Alas! contrary to popular belief, customers don’t know what they want. So that list would be constantly evolving. A seller who takes this
Accept sales rejections. Being shouted at like that has happened to many experienced salespeople. And many reasons abound for this. “You! When I see you here disturbing my people I will kick you out!” So, thundered the Senior Human Resources Manager at a firm with 4,000 employees. All of them, potential prospects for this bank
The prospect feels heard, listened to, assured. These are the qualities that exercising patience when selling yields. And they dramatically increase customer retention. Patience. (Pause and digest that first). Patience isn’t just a virtue. Patience is a sales virtue. Exercise patience when selling. Many sales are lost because the potential buyer (prospect) felt rushed and
Everyone is a salesperson. You likely have heard this before. But today I want to limit this to some roles that don’t see themselves as salespeople but are. You are selling. You may not admit it but you are. “But I’m a Programs Officer (or, do fundraising) with an NGO”. You are selling. “I’m a
He’s the CEO. Don’t fight this if you want the sale; align to it. He is used to giving direction and making decisions. Let him. It’s not for him to adapt to you. He won’t. It’s you that should adapt to him. And no, this is not about becoming a yes man. It’s about selling
Are customers rational or emotional? They are both. Sticking to the rational needs only will get you an agreement but unlikely the sale. I like how this 20-a-day for two decades smoker explains her journey to quitting: “I had meant to give up smoking for years. Yet, despite all the horrible labels on cigarette packets
Does hiring pre-trained salespeople, work? What do you think? To begin with, thinking, ‘Hmm! How much does it cost to hire a salesperson?’, some companies seek plug and play salespeople. They want fast food. Not to slog away buying the different ingredients from the different places. Then, again, slogging away in the kitchen, mixing a