The Sales Evangelist (Closing)

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One Major Closing Question You're Neglecting To Ask 

 

There are times when the sale is almost a done deal but at the end of the day, it’s not pushing through because there’s that one major closing question you neglected to ask. This can happen to everyone, not just for the new sales reps. 

That one closing question you neglected to ask

Let’s take Dave as an example. Dave is a seller who is wrapping up things with Bob in a phone call. Dave gave an amazing demonstration but Bob is being wishy-washy in his response and told Dave that he is still going to analyze internally first before moving on with Dave’s deal. Now, Dave is upset, furious, and blurted out some things. 

Dave could have done things differently by asking follow-up questions. Seeing it from Dave’s perspective, his outburst was understandable. He’s been working the deal for three months and he thought that he already got everything right. He already told his manager about it and he’s pretty excited for it to officially close. He needed this sale to achieve his quota. 

The result could have been different had he remembered to ask the closing question that many neglect to ask. 

“Would I make  this purchase based on the same information I know if I were the buyer?” 

Based on the things you’ve shared with the buyer, would you have made the decision to make the investment? Many take this for granted because oftentimes, salespeople are shortsighted. 

Focusing on your pipeline 

Having focus is a great characteristic, however, focusing on the wrong thing isn’t. As salespeople, we need to shift the focus from ourselves and our pipeline, rather, we need to focus on our clients and our prospective clients. 

Going back on Dave, he was too focused on himself and the need for impressing his manager. He is a rising star in the company and the deal would be 25% of his quota. Everything was about Dave. Sometimes, a similar thing happens to us. 

We tend to focus on ourselves and fail to show empathy toward the clients. Stephen Covey’s The Seven Habits of Highly Effective People states that the fifth habit of becoming effective is to seek first to understand then to be understood. 

The outcome would have been different if Dave asked himself the closing question mentioned above. Dave was in a difficult situation. He just got promoted and he’s now in the big boy’s league, this means that he’s afraid. The thing is that all these situations that Dave is facing don’t help his potential client solve his problems. Bob has nothing in him to consider shifting to Dave’s offer. If you were Dave, you would have gone a different path. Instead of looking at your fears, you instead looked at what Bob’s company needs. 

Perhaps you’d look at some studies and do some homework about Bob’s industry in relation to the software that you’re selling. 

A great salesperson focuses not on himself but on what the buyer is going through and the challenges that they’re facing. #SalesTruth

Reality in sales 

Not every deal is going to close, that’s a universal fact in sales. But when you try to ask the closing question mentioned earlier, you won’t get in an awkward situation. Take for example the close rates, it’s the sales rep’s number of prospects to the number of deals converted. A 25% close rate means closing 10 deals out of your 40 prospects. The average close rate is between 15%-23%. Some people have higher close rates and others have a lower close rate. 

The close rate would increase if we work a little more in asking the tough questions. Salespeople must analyze  the situation from the buyer’s standpoint. You can start the conversion process after every call, ask the buyer the same closing question, “Based on what you know, do you feel comfortable moving forward with us to a demonstration?” “Based on what you know, do you feel comfortable moving forward with us toa proposal?” Do this in every step of the process. 

The closing question you neglect to ask should be given priority now. Ask yourself and the buyer that question. Find more of your ideal customers and have more meaningful conversations with them. Don’t be afraid to ask questions. 

“One Major Closing Question You're Neglecting To Ask” episode resources

Go ahead and hit me up for concerns and questions about sales. You can also reach out to me via LinkedIn, Instagram, Twitter, and Facebook. Use these  practical sales tips and let me know how it works for you. 

This episode is brought to you in part by TSE Certified Sales Training Program. It’s a course designed to help new  and struggling sellers to master the fundamentals of sales and close more deals. Sign up now and get the first two modules for free! You can also call us at (561) 570-5077. 

The episode is also brought to you by Sales Live Miami. It’s an event put on by a group of friends and it’s designed to help sellers and sales leaders improve their sales game. It’s going to be this November 4-5, 2019 in Miami, Florida. Come and join us. You can find more about this event on The Sales Evangelist website. 

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Audio provided by Free SFX and Bensound.

Direct download: TSE_1203.mp3
Category:Closing -- posted at: 12:00am EDT

For organizations looking to expand their footprint and extend their reach, these 3 tips to improve closing will help them achieve those goals.

Johnny Lee operates a sales and marketing firm called C Level Partners that helps organizations expand their footprint, gain new clients, and move in the direction of their goals. He believes that sales is everything. His experience from the management side, from the individual side, and from the sales rep side gives him a unique multi-level vantage point.

  1. Listen to understand

The biggest challenge Johnny Lee consistently sees is that sellers listen to reply rather than listening to understand. He recently carried out a DILO, or a “day in the life of” exercise with a lean, mature team that all suffered from the same problem. They all listened while waiting for the opportunity to explain why their company was so great. 

Sellers master the art of articulating their value, but before we win in the marketplace we have to master the art of listening. We’ve all heard it before, perhaps in the saying, “Telling is not selling.”

But if we truly applied this truth to our everyday behaviors both in and out of business, we would know exactly how to articulate our value proposition to become the solution that the prospect needs. 

  1. Exhibit empathy

In many cases, the discovery call that precedes the demo doesn’t actually help the seller understand the challenges the seller is facing. In order to understand the problems they are trying to solve, you must listen and develop empathy for the pain they are feeling. 

Empathy helps us understand why people do certain things and how they end up where they are. When you care about helping people, you’ll be able to support them while they tackle the challenges they face. 

When we ask questions that lead them down the path of discovery, our prospects will outline exactly what they need and how you can help. 

Empathy acknowledges how the existing challenges affect the company’s bottom line and understands how important it is to consider shareholder value in the face of problems. 

Empathy cannot be rushed. 

When you communicate that you’re with them in the challenge, you’ll become a trusted advisor. 

You cannot begin the work of solving a problem until you understand several things. 

  1. You must understand the challenge and how the prospect got where he is today.
  2. You must understand whether he seems himself getting out of the situation.
  3. You must understand how impactful it is for the business if he doesn’t get out of the situation.

Once you build empathy and understand those three things, you can begin the next step of prescribing. 

  1. Prescribe with confidence

There’s a fine line between arrogance and confidence, and you must prescribe solutions with confidence. 

An arrogant person might immediately say, for example, “I have exactly what you’re looking for.” Arrogant people don’t listen. 

When you do step 2 right and you have empathy and understanding, you’ll find yourself in the position of a therapist of sorts. Like a therapist, you have to be welcoming, calm, and professional. 

Therapists don’t say, “Wow, you’re messed up.” They also don’t say things like, “I’m exactly what you need to solve your problem.” Instead, they operate with confidence, saying things like, “I’m so glad you took the first step. I’ve dealt with similar challenges before and I know we can get where you want to be.”

Therapists become trusted advisors. They communicate that they are looking out for the patient’s best interests.

Confident sellers must do the same. 

Pay attention to tonality

Tonality is critical to communicating the right level of confidence. Be enthusiastic. Be happy and excited that you’re speaking with a credible person. 

Recognize the two different kinds of buyers: technical and economic. Technical buyers are people who can use your service but can’t make the decision to buy your service or product. Economic buyers make the ultimate decision. 

There are two different ways of closing those two kinds of buyers. Because you can only engage a technical buyer for a certain period of time, you’ll eventually have to divert to the economic buyer. 

Know how to ask questions like this: “I know you’ve been looking to address this challenge for quite some time. Is it common in your organization to bring the CFO in at this point to make the final decision?”

You must sniff technical buyers out early in the sales process. 

Never ever give a proposal to someone who can’t buy. 

Using phrases like “this is what we have been doing,” and “working with companies like yours,” communicates confidence. Eliminate phrases that include “I think,” or “it should.” #Tonality

Confidence

Passion is extremely contagious. You have to know when to elevate a pitch or speak faster or slower. Johnny Lee is a firm believer that tonality creates the environment. Because prospects who are on the phone can’t see you, they are still picturing something. They are picturing whether you’re tall or short, aggressive or not. They can picture you, and it’s your job to make sure they picture you as a trusted advisor. 

Confidence comes from studying your value proposition. You have to understand your value proposition. You also have to readily know what your value proposition has done in the workplace. That means knowing the stories and the case studies. 

People are sold auditorily, visually, and kinesthetically. Tell your stories with passion, with conviction, and with numbers because people love numbers and percentages. 

Don’t share numbers if they haven’t shared their stories and their challenges with you first. 

Acquire

Don’t admire what other organizations and colleagues and sales leaders are doing. Acquire what they’ve been doing, and exceed the expectations you’ve set for yourself. 

Instead of comparing your personal and professional life to the people around you, humble yourself and ask questions of those who achieved those levels of success. That will help you build a roadmap to success in all areas of your life. 

Episode resources

If you’d like to connect with Johnny Lee, email him jlr@reinosoglobal.com.

If you’re a sales rep looking to hone your craft and learn from the top 1% of sellers, make plans to attend the Sales Success Summit in Austin, Tx, October 14-15. Scheduled on a Monday and Tuesday to limit the impact to the sales week, the Sales Success Summit connects sellers with top-level performers who have appeared on the podcast. Visit Top1Summit.com to learn more and register! 

You can also connect with me at donald@thesalesevangelist.com or try our first module of  TSE Certified Sales Training Program for free. This episode has been made possible with the help of  TSE Certified Sales Training Program, a training course designed to help sellers in improving their performance. We want you guys to go out each and every single day to find more ideal customers and do big things.

I hope you like and learned many things from this episode. If you did, please review us and give us a five-star rating on Apple podcast or in any platform you’re using - Google Podcast, Stitcher, and Spotify.  You can also share this with your friends and colleagues. 

Audio provided by Free SFX and Bensound.

Direct download: TSE_1188.mp3
Category:Closing -- posted at: 1:00am EDT

There are three great closing questions that salespeople often ask because everyone in the sales arena wants to make sure that we’re closing effectively. The answers to the three great closing questions will help salespeople close like a pro. 

Albert Alexander has been a partner in a construction equipment sales company that makes parts for excavators and bulldozers for 11 years now. Albert does all the marketing, inside sales, and digital marketing for the company. 

Closing questions

Often, sales reps are good at finding prospects and having a talk with them. Things change, however, when they’re turning them into leads. There are challenges in closing. 

Sales reps have this predisposed idea about how they purchase that gets in the way when they try to close a deal. Albert’s company grows 70% every year and that’s because they stick people to a process

For other sales reps, they stop in the middle of the process and it stops the action of the process moving forward. It could be because of the fear of rejection or any other reason, but the end result is the same. It halts the closing process. 

Imposing your buying style 

There are many decision types and processes that they take. For this reason, sales reps should know their customers through their pains and needs and be completely open to the different decision styles they have. Sales reps should remove their own fears and worries of rejection from the sales process and focus on their customers instead. If they do that, they can be empathetic to the needs of the clients. 

Say, for example, the client’s million-dollar equipment is not working and it needs a $50,000 part that the company sells. For the sales rep, the amount is huge and so he’d say, “I understand you need to think about it,” but that’s not the case for the client. The client is willing to spend $50,000 for his million-dollar equipment to work, but because the sales rep put his purchasing decision in the process, the entire closing will take a hit. 

Sales reps need to change their perspective or their purchasing styles and decisions when closing a deal. Sales reps need to learn to think like the clients they’re talking to instead of imposing their fears, views, concerns, or buying styles to their clients. 

Make a good logical decision for and with somebody, even when they’re concerned. Remind them of the things that are logical and that matter. 

The first step to close a deal is to put yourself in that person’s shoes better and eliminate the fears and worries. 

Closing styles 

We all have closing styles and the first one is the assumptive close. It's extremely easy and it’s when sales reps choose and assume the next information that you have to collect and continue down the process. It’s almost like assuming that everything’s good and done after they’ve spoken with the client. 

This works for Albert’s company. They’ve implemented the assumptive process and it improved their closing deals to 25%.

So, their sales reps ask the following questions: 

  • Hey, where did you want me to deliver that?
  • When did you want that delivered? 
  • How did you want to pay for that? 
  • Is it going to be a Mastercard or wire transfer?

Most sales reps think that closing is an event and it shouldn’t be. They think that they have to ask questions and shake hands. That’s not how it works. 

If they investigate, build rapport, and lay out the solution that’s logical and emotionally fulfilling, sales reps can assume the next information and assume. Closing is not an event, it should be a natural thing. Sales reps should do all the work upfront and the closing is part of that.

Dig into the objection 

In the case of objections during a close, it’s often not the truth and just a reaction. Sales reps should dig deeper to overcome the objection. 

In Albert’s industry, there are five reasons that clients use to decline. 

  • Time 
  • Money
  • Price
  • Value
  • Quality 

Our sales reps dig deeper by feeding either of the top reasons why clients object to a deal. They wait for their response and try not to be pushy. They just make a conversation and wait because people have different buying styles. Some people like to think about it before saying yes, and some others just agree immediately. 

After the assumption, sales reps should dig deeper into their objection to see the real issue and not just the surface-level problem. In that way, you can give a solution to the real objection. 

A good sales rep is the one who can talk well and has the tenacity to understand and get down to the reasons to investigate. 

Being able to compensate with somebody doesn’t lead to a sale, you need to have a purpose and process. 

Utilize technology 

Sales reps can connect with a customer in a building effect of value. While sales reps are closing, they can talk to their clients in the process. In Albert’s company, their sales reps would send their clients’ invoices while talking to them on the phone. They also email and text pictures of what they’re going to get. They do these things while they’re closing the clients. People love how attentive the sales reps are in the whole process. 

When their sales reps close, they strive to make the clients feel like family. It’s different when clients get all the information they need while they are talking to the sales reps. 

So, utilize technology and use text and video messaging while closing because these things make them less guarded. 

Closing 

Don’t think that closing is an event. 

Sales reps should start by building rapport and knowing the game they’re playing. #SalesTips

It has to be a process that sales reps are moving forward through. As a sales rep, you need to cover all the bases because everyone is the same and the sale is the same. There are different variables but you can sum them up to a few things that you can master. 

Don’t complicate it and know that you’re closing from the very start. 

Three Great Closing Questions” episode resources

Connect with Albert in his site, ConEquip.com. You can also listen to their podcast at Sellingforlife.com where they share ideas of the entrepreneurial journey. Their company has gone from zero sales to 30 million a year. They’ve become experts in Google marketing and ad words. 

You can also connect with him on his email at al@conequip.com

If you’re a sales rep looking to hone your craft and learn from the top 1% of sellers, make plans to attend the Sales Success Summit in Austin, Tx, October 14-15. Scheduled on a Monday and Tuesday to limit the impact to the sales week, the Sales Success Summit connects sellers with top-level performers who have appeared on the podcast. Visit Top1Summit.com to learn more and register! 

This episode is brought to you in part by TSE Certified Sales Training Program. It is a 12-course program to help sales reps and sales teams to improve their skills in finding the right customers, to know the activities and strategies that work, and how to ask the right questions to build a strong value and close business deals. Simply go to thesalesvengelist.com/freecourse to get the first two modules for free. 

This episode is brought to you in part by Audible. Enjoy the free 30-day trial and explore the thousands of books they have today. 

I hope this episode has been fun and helpful to you. Please review and leave us a five-star rating on Apple Podcast. You can also hit subscribe and share our show with your friends and colleagues. 

If you can, please provide your review and rating on Google Podcast, Stitcher, Spotify, and other platforms where you consume this podcast. 

Audio provided by Free SFX and Bensound.

Direct download: TSE_1173.mp3
Category:Closing -- posted at: 12:00am EDT

Sellers are understandably focused on the closing of any deal but it’s important that we keep things in perspective and don’t make the closing an event.

The truth is that every transaction has a beginning, a middle, and an end, but we often get so focused on the closing that we unnecessarily freak ourselves out.

This conversation comes from our TSE Certified Sales Training Program, our sales coaching program that helps sellers maximize their effectiveness.

SALES PROCESS

The sales process naturally builds toward a close where the client signs the deal and then everyone celebrates. Our challenge as sellers is to avoid the temptation to make the closing the entire focus of the sale.

Focus throughout the sale on building value. Initiate conversations that address your prospects’ challenges and difficulties. Realize that you’ll never get to the closing if you don’t effectively address the buyers’ objections.

Help the buyer feel confident in this deal by sharing stories that provide value and dispel your customers’ objections. Instead of waiting for your customer to offer his objections, bring them up on your own terms as a way of building trust.

Red flags won’t go away simply because you ignore them. They don’t typically diffuse themselves, and your decision to wait until the end of the process to address them could cost you your deal.

GROWING PROBLEMS

Like many other relationships in life, struggles between buyer and seller don’t naturally disappear over time. In fact, problems often get bigger and worse as we fail to address them.

A single demo for your client won’t magically offset all his concerns, so don’t wait until then to address his objections. If he has concerns about your product or service, it won’t likely matter how good your demo is: you won’t overcome his hesitation until you address the problems.

 

ADDRESSING FEARS

Whether you’re selling water, computers, or houses, your buyer doesn’t want to part with his hard-earned cash until you’ve addressed his fears.

He may want a new house. He may even need a new house. But he has fears of his own:

  • What if he can’t afford this house?
  • What if an unforeseen issue comes up?
  • How much will hurricane insurance cost?

Help him minimize those risks and fears throughout the process. That way, when he gets to the end of the transaction, those fears won’t be an issue.

PROSPECTING

Hubspot reported recently that as many as 40 percent of salespeople don’t like prospecting and about 30 percent struggle with closings. As a result, we tend to make closings a big deal in our own heads because we’ve worked so hard to find a prospect and get to this point.

Instead of viewing it as a huge event, we should think of it as a natural byproduct of the sales process, and we should move the buyer smoothly through to conversion.

Conversion begins the moment I start building value for my prospect. If I focus on blind-side challenges and identifying key problems, I can address objections early and minimize the risk that my deal will fall apart.

My goal is to eliminate any reasonable doubt about whether I’m the right vendor for the prospect.

PITCHING YOURSELF

If you’re able to identify the companies your prospect is currently working with, you’ll be better able to pitch your own strengths against theirs. You can identify the competition’s weaknesses and use those to make your case.

Share stories about past clients who have left that company to work with you and explain why they made that choice.

Build one-on-one conversations into your process as often as possible so you can clarify any questions as they develop. Once you understand the big issues that will likely sabotage your deal, you can help everyone get to the same page.

Follow your demonstrations with an email outreach offering to address any new questions the prospect has.

Avoid pushing objections to the end of the process. Make objections and questions a constant part of your dialogue so that you minimize any risk toward the end of the deal.

Strive to create a smooth experience for your customer.

“DON’T MAKE THE CLOSING AN EVENT” EPISODE RESOURCES

You’ve heard us talk about the TSE Certified Sales Training Program, and we’re offering the first module free as a gift to you. Preview it. Check it out. If it makes sense for you to join, you can be part of our upcoming semester in April.

You can take it on your own or as part of the semester group. The program includes 65 videos altogether, and we just completed a beta group that helped us improve the program and maximize the information in it.

If you and your team are interested in learning more, we’d love to have you join us. Call (561)578-1729 to speak directly to me or one of our team members about the program.

This episode is also brought to you in part by mailtag.io, a Chrome browser extension for Gmail that allows you to track and schedule your emails. You’ll receive real-time alerts anyone opens an email or clicks a link.

I hope you enjoyed the show today as much as I did. If so, please consider leaving us a rating on Apple PodcastGoogle PodcastStitcher, or wherever you consume this content and share it with someone else who might benefit from our message. It helps others find our message and improves our visibility.

Audio provided by Free SFX and Bensound.

Direct download: TSE_1065.mp3
Category:Closing -- posted at: 12:00pm EDT

Many small business owners and sales reps face challenges with closing, and there are five closing mistakes that will prolong your selling cycle.

I met Chala Dincoy at the Eastern Minority Supplier Development Council ROAR Conference, and today she’ll talk to us about the mistakes that can delay or prolong your selling cycle.

Chala is an elevator pitch coach who helps people get into the room. Then, once they’ve landed a sales meeting, she helps them close it faster.

The greatest challenge, she said, is getting the appointment because people don’t stand out. About 86 percent of buyers think you’re the same as your competition. Now she teaches reps how to get through the noise and stand out.

Interestingly, she pointed out that many companies don’t use titles like “sales rep” on their business cards anymore because it puts people off to see that someone is in sales.

THOUGHT LEADERSHIP

 

That’s the first closing mistake.

The second is you haven’t specifically addressed the customers’ pain points. So now you’re in the wrong room and the wrong people are in the room with you.

You end up talking to lower level managers who pass you off over and over. As a result, you’re never able to get to the influencers that you need to reach.

The real trick, then, is to change your marketing so that you’re in front of decision makers all the time.

Since Chala’s sweet spot is diversity businesses, she works to get in front of conferences where those people are gathered. She has their business cards and they are talking to her at conferences.

This is the kind of marketing you should do, via speaking, networking, blogging, and any other kind of thought leadership.

BRANDING

Your branding is one of the tools that gets you into the room. Sheryl Sandberg is a celebrity in the business world, and you can do the same thing in the world of your target.

Chala recalls being at a recent conference where five people hugged her as she got off of an elevator. Though she didn’t know them, she says it’s a sign that you’re becoming known in your industry.

Once they know who you are, it’s really easy to land an appointment. It’s easy to invite them to an executive round table and for them to say yes.

Realize, too, that though everyone might be able to benefit from what you’re selling, not everyone needs it. We all sit in chairs, for example, but I may not need the kind of chair you’re selling.

PAIN

Seventy percent of humans purchase based upon pain, so if they have a problem, they buy. The flip side is that only 30 percent of people will buy if you’re selling based on improving something.

Chala is fond of the saying, “No pain, no sale.” The third mistake is trying to sell something without addressing pain.

Stories have to be about the pain. When you’re in a presentation, offer case studies of pain. Your elevator pitch has to be based on pain. And all of it has to be the same pain.

We must niche down and focus.

Stop talking about yourself. No one cares how many offices you have or how many awards you’ve won.

Your prospects only care about the pain.

THE PURSE

You must have both the budget and the authority in the room with you. Failure to do so is mistake number four.

We often call it the purse and the pain. If the pain doesn’t have the purse, no decision can be made, and vice versa.

As an extension of that, lower level managers may talk about a different kind of pain that company leadership will. If you base your entire presentation around one person’s pain, especially if that person isn’t the decision maker, your presentation will miss its mark.

You must have both people in the room.

Finally, avoid leaving without a next appointment. You must establish a next step with your prospects.

If they tell you they can’t commit to a date because there are other stakeholders involved and they don’t know all the schedules, then set a date to get a date. In other words, schedule a day that you’ll call to set up the next appointment.

If they aren’t willing to give you a date, it’s a really strong indicator that they aren’t going to buy.

Stop talking about yourself and connect with their pain points.

“CLOSING MISTAKES” EPISODE RESOURCES

You can connect with Chala at LinkedIn or at repositioner.com and you can take a quiz to determine how good your elevator pitch is.

We are currently in the Beta portion of our new TSE Certified Sales Training Program. The first section is about prospecting, the second is all about building value, and the third is about closing.

This episode is brought to you by the TSE Certified Sales Training Program. If 2018 wasn’t the best year for you, check out TSE Certified Sales Training Program. We can help you out of your slump.

If you gave a lot of great presentations and did a lot of hard work, only to watch your prospects choose to work with your competitors, we can help you fix that. The new semester of TSE Certified Sales Training Program begins in April and it would be an absolute honor to have you join us.

This episode is also brought to you in part by mailtag.io, a Chrome browser extension for Gmail that allows you to track and schedule your emails. It’s super easy, it’s helpful, and I recommend that you try it out. You’ll receive real-time alerts anyone opens an email or clicks a link.

Mailtag.io allows you to see around the corners. You can see when people open your email, or when they click on the link you sent. Mailtag.io will give you half-off your subscription for life when you use the Promo Code: Donald at check out.

I hope you enjoyed the show today as much as I did. If so, please consider leaving us a rating on Apple PodcastGoogle PodcastStitcher, or wherever you consume this content and share it with someone else who might benefit from our message. It helps others find our message and improves our visibility.

If you haven’t already done so, subscribe to the podcast so you won’t miss a single episode. Share it with your friends who would benefit from learning more.

Audio provided by Free SFX and Bensound.

Direct download: TSE_1056.mp3
Category:Closing -- posted at: 12:00pm EDT

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