Performing a SWOT analysis (Strength, Weaknesses, Opportunities & Threats) before a negotiation can help lead to a successful outcome. Combining the customer’s strengths and opportunities could give you key leverage points to offer creative ideas while selling your products or services.
Sales Pitch / Presentation
Delivering your sales pitch or making your sales presentation is key to answering a prospect’s questions and convincing them to buy from you. These posts can help you achieve that.
Harvard Business School reports the essential components of sales success are information, intelligence, skill and attitude. But which is No. 1?
Information, intelligence and skill accounts for 7%, while attitude accounts for 93% of sales success.
In selling, as in martial arts, there are times when being aggressive is the only way to close the deal. At other times, a softer approach is the way to go.
The difference is that in selling, our customers are not our enemies. The result of our interaction is that both parties should come out stronger in the end.
Closing the deal is just a matter of mastering the art of the soft sell and the hard sell, and then picking out the right approach for the prospect.
Salespeople usually try to pack lots of information into presentations to show their expertise and hit hot buttons. And sometimes they go overboard and confuse buyers.
Result: Only about 39% of customers remember a single feature or benefit the day after a sales presentation, according to one research study.
Almost half of the prospects “remember” something that wasn’t mentioned at all.
Body language speaks louder than actual words. When you or colleagues meet with customers, what your body says may be hurting business.
The wrong hand gestures, stance and fidgets can kill credibility, create awkwardness and make customers suspicious. Meanwhile, making the right moves can create comfortable and productive meetings with customers, says business expert Laurie Hayes.
The biggest problem with certain body language: Customers interpret it differently than its meant to be. In fact, most of the time people don’t mean anything when they strike a pose or use a gesture, but it’s mistaken to have some kind of hidden meaning.
When you talk to customers and prospects about your products, don’t try to impress them with big words and bigger ideas. You aren’t going to impress anyone (except yourself, perhaps).
Try what the best sales and service pros do: Use the fewest words — and choose the simplest terms. That’s the way to capture the attention and interest of customers and prospects. Even better, it shows them you’ve listened to their thoughts and understand their needs.
Whether you’re doing a full-blown sales presentation or a small soft sale over the phone, here are six things you should never say to customers.
Some of them suggest you came into the situation unprepared, others show you don’t respect the customers’ time and patience, according to sales expert Kevin Eikenberry. But all of these are things that can kill your credibility with customers.
“The best way to sell prospects is to treat them the same way you treat your customers now.” Some salespeople hear that message so frequently they consider it a basic selling rule. But it’s a major mistake.
Recent research shows that salespeople who treat prospects the same way they treat existing customers are committing a major sales sin.
About 70% of prospects taking part in the study said they wanted different things than existing customers look for. The survey also reported that what salespeople do to please prospects may not work for existing customers.
Bottom line: Salespeople who deliver the same presentation to prospects and customers are missing their targets.
The single biggest complaint of professional purchasers is that salespeople talk too much and don’t listen enough.
That’s according to the Purchasing Manager’s Association of America’s annual survey.
Poor-performing salespeople dominate the talking, while top salespeople dominate the listening. It’s possible for a salesperson to talk too much, but it’s rarely possible to listen too much. When salespeople are excellent listeners, prospects and customers feel comfortable and secure with them. They then buy more readily and more often.
The second biggest mistake made by salespeople is their failure to ask enough good questions or phrase them properly. The key to understanding customers has more to do with questions salespeople ask rather than the answers they provide.
Of all the possible sales mistakes one can make, two are more damaging than all others combined.
The first is assuming that prospects know about your company and its products.
The second is not having a value concept.
What the name of a business or product stands for is critical for separating it from the competition. Without that essential differentiation, prospects will seldom buy, particularly when they are satisfied with a present supplier.
Some salespeople think the way to displace a competitor is to talk about themselves. They forget that prospects are already satisfied with their present supplier.
The key is to determine what customers value most that they might not be getting from the current supplier.