Relationship Selling

Posts Tagged ‘Sales Objections’

Objection handling is probably one of the trickiest and most feared aspect of selling.  When one first gets involved in any type of sales situation, especially a non-salesperson, the thought of handling or overcoming objections from a customer/prospect is probably one of the most feared aspects of selling. Some say it is right up there with the fear of public speaking.  Yet, if handled properly, objections can be a great thing.

Let’s first start by defining what exactly an objection really is:  Simply put, an objection is the need from your customer/prospect for more information, communication, clarification and alternatives.  It is actually your customer/prospect inviting you to move along in the sales process.  If you understand and truly believe this, you will come a long way in being able to not only handle these objections with ease, but secure new clients and customers because of your ability to help them along in the process.

How do you handle or resolve an objection?  The million dollar question.

1. Objection handling requires clarification.  As a solutions provider, you need to be able to clarify back to your customer with an answer they are looking for and not one that satisfies your need.  In other words, don’t handle an objection with a “canned” response that will help you close the sale but rather one that actually will help to clarify the problem or issue your customer/prospect is having with your solution.  Communication is key.  Two way communication – requires listening, feedback and action.
2. Write down all of the objections.  By writing the objections down, you will be able to identify the “keywords” or “pain points” your customer is relating and customize your responses/resolutions to help make it a win-win for both of you.  Be sure to stay focused on the objection at all times in the process.
3. If you don’t have an immediate answer to the objection, don’t panic.  It’s o.k. By being honest with your customer/prospect you will gain their trust and build credibility and this will go a long way in developing the relationships needed to move forward with the sales process.  Come back to them with an answer when you have one.  But be sure to followup and don’t leave them hanging.
4. Give positive feedback when an objection is raised, i.e., say something like “that’s a great question or that is a good concern”.  This will show that you are genuinely trying to help them with their issues and provide a good solution for them regardless of the outcome for you.

Couldn’t sell snow to an eskimo right?   Simply don’t have the time or the desire to learn how to sell? Well that is the dilemma facing many small local business owners today.  They need and want customers in order for their business to thrive, yet they have absolutely no idea how to sell or what steps to take to even start getting customers coming to them. Business sales training is for those big-wigs in corporate America right?  WRONG.  Everyone needs a little bit of background in sales if they are even contemplating starting up a new business.

Now it doesn’t mean you have to go to a 12 to 18 month training program on learning how to sell your way out of a paper bag.  But what it does mean is it is important to learn the essentials of what it takes to secure and retain new customers for your business to succeed.

Here is the key:  You do  not need a college degree or years of experience in marketing in order to learn the essentials.  Relationship selling is really mostly about building relationships with the purpose of solving your prospect’s problems or “pain” and piggybacking off of those relationships for more sales, referrals, repeat business and new customers.

Sounds rather simplistic and of course, it is not that simple but the basic idea of business sales training using relationship selling principles is built around that premise.  Learning the basics of this type of selling doesn’t take long.  It is the practice that makes perfect in this instance.

So if you are really looking to move your business forward in a way that is focused on making profits (and who isn’t?) then focusing on relationship building first with a “solutions provider” mentality is what will drive your prospect to you as they search for solutions to their problems.

It certainly isn’t rocket science but building relationships requires a few basic elements.  The first being trust and credibility. To build an effective and lasting relationship with your client base, you MUST have credibility.  If you don’t have it yet, “borrow” it from someone who does until you build your own but don’t lean on borrowed credibility for long as it should only last a short time.

Actions speak louder than words so if you are looking for a win-win with your clients, then commit to providing them every opportunity to show them that they can trust and depend on you.  Once you learn this basic skill of relationship selling then it will become second nature to you and your sales results will be the proof as well as your potential cash flow.

Remember that every relationship has a give-take.  Treat this as if you are just beginning to date someone: putting your best foot forward, building trust and credibility before you try to move onto to the next phase.  In business, it is very much the same.

Selling in today’s  market is much different than years ago as people have become very wary of everything and everyone around them.   It is a rapidly changing marketplace and people are constantly looking for new answers and solutions.  When selling is an extension of your passion (your business or trade) then it won’t feel like selling to you if done correctly.

Business sales training is not a scary word.  If you want your business to succeed and you want to see a cash flow that will continue, don’t skip this most important step in starting up your small local business.

Learn the very basics of relationship building with relationship selling and the rest will fall into place.

Your initial contact with a prospective customer/client is probably the most important contact you will make. This is a “make it or break it” moment and that first impression could easily be your last or it could be a lasting one. Relationship Selling principles help to focus on getting past that initial contact and getting your foot into the door with your customer/client.

Whether your customer has found you through an ad or word of mouth, you need to make some sort of initial contact with them to get them into your world and start building a relationship with them.  Here are some tips for what to say to get past those initial barriers and keep them listening.

1. Introduce yourself and state the purpose of your meeting/phone call.  Never assume they know who you are and are ready and willing to accept you into their world at that moment with open arms. People are busy, things happen and even if they had a scheduled appointment with you, they may have forgotten.  So first things first – introduce yourself briefly and state your purpose: “Hi, this is Jack Jones from ABC Company, you recently inquired on my website about getting a new roof for your sunroom.  I was calling to see if I could set up an appointment with you and offer you a complimentary assessment.”
2. Ask if this is a good time to talk – as I said before, do not ASSUME they have the time to listen to you.  It doesn’t matter if you had an appointment or if you are calling a warm lead who came in through your advertising, the approach should be the same.  So continuing on with the previous conversation “Is this a good time to talk for just a few minutes so we can set up an appointment for that consultation”?
3. Be prepared to repeat your name and the reason for your call.  Do not be initimidated if they say “WHO are you?”  Simply repeat your name and the reason for your call so they have clarity. If it is not a good time to talk then be sure to set up another time that works for them.  DO NOT just hang up without booking another time unless they are adamant that they do not want to talk with you.  If it is not a good time then you could say “It isn’t?  Is there a time that works better for you where I can return the call and set up an appointment with you?”  If they say no, I am not interested, then move on but chances are if they came to you through some sort of marketing funnel – either off-line or on-line as a targeted lead, then they are interested and will more often than not, book that appointment with you.

Many local business owners have one thing in common: an excellent knowledge of their trade/service/product.  They know what they want and they go after it with vigor.  But many times they are extremely knowledgeable in their field but they lack an essential skill for true success:  Selling.  This is where learning the skills necessary for relationship selling come into play.

Local business owners are not usually salespeople and when they first start out in their business they rely mainly on word of mouth or local advertising.  This is great for getting people in the door but what happens once they have entered? Today’s market is extremely competitive and to truly succeed, you need to stand out from the crowd.   Knowing your trade or business and being an expert in this trade is crucial but if you cannot communicate a reason to buy from you and not from your competitor, then you are going to be left out.

Do you need to be an expert salesperson to sell to your customers/clients?

Absolutely not.  But you need to learn some critical communication skills in relationship selling before you hang the “Open for Business” sign on your door. One of the most important aspects of relationship selling is to understand that you are providing value to your customer.  If you are able to separate this from the idea of “selling”,  then you will have conquered a good portion of ground to learning these skills.  Providing value by solving your customer’s problem is paramount to overcoming the hurdles that many local business owners face when trying to “sell” their product/service.

There are ways to handle a customer from first contact through the “sale” which will differentiate you from your competitors.  You don’t have to be a super salesman to get the job done correctly and you certainly don’t need to be uncomfortable or feel “pitchy” when talking to a prospective customer/client.

Relationship Selling helps you understand the basics of building a relationship with your customer/client first and to dig deeper into their issues/problems so you can provide a “real” solution to these problems. Thus, you are providing them value and helping them solve their problems; not trying to make it more about you than them. These skills are not learned overnight but they can be learned and applied daily to your business. Anyone can do this type of selling.  It is the not the old fashioned “what’s in it for me” approach, but rather “what’s in it for my customer”.

Once these skills have been acquired, you will be amazed at how easy it will be to approach a customer/client with confidence and assurance that what you are offering is value based and something that will help them.  This helps to take the “selling” portion out of the picture and this is a huge stumbling block for most new small local business owners.

Being extremely knowledgeable in your field is the first step to success.  Learning the skills necessary for is the next critical step for continued growth and profitability.

Most have a strategy for attracting new customers. But what is your strategy for keeping the customers you already have? Customer retention strategy is rooted in the relationship selling process. It is based on loyalty. Loyalty is developed by knowing your customers needs and how you respond to those needs. To outshine your competition you need to focus on understanding the real needs. There is intrinsic value the customer derives with doing business with their company. 

In the olden days loyalty was taken for granted. Not any more. Today you must demonstrate value and appreciation for your customers. It is so easy for them to fall off the radar; but if they do so will the sales. Time to rethink customer engagement to boost satisfaction and ultimately, retention.

Get to know your customers. Gather information about  your customers with the mindset that you will act on it. Ask what’s important to them. There are several ways to do this: online surveys, a few questions on the phone after the sale. This may seem like common sense but my experience is that common sense isn’t so common anymore.  Follow up immediately after a sale to handle any complaints right away.  A 2-way dialogue will make them feel part of the process and they will feel respected.  

Getting to know your customer is about personal attention and recognition. These are the key ingredients for strengthening retention. Listen to feedback and apply their recommendations to everyone. Make them feel part of a community or tribe as Seth Godin writes about. Keep track of past purchases and preferences; this is valuable information. Have special offers and incentives that are for current customers only.  Communicate these via newsletter, e-newsletter or other forums. Customer retention strategies only work if the customer benefits from them. Give them what they expect and then give them more.

It’s no longer location, location, location. It’s communicate, communicate, communicate. It is important to have a follow up system in place. Incorporate the use of thank you calls, emails, cards in the mail. Stay in touch with your top 20% customers. This means picking up the phone at least quarterly to personally touch base with the top 10 to 25. Remember it is that 20% that makes up 80 percent of your sales. These satisfied customers are the most likley to give you referrals; especially if you give them an incentive for both the new and existing customer. 

Ask them about their customer experience and what would make it better. Then be willing to implement the changes. If their experience hasn’t been good you want to turn it around immediately. You will only find out if they are happy with their purchase if you follow up a few days to a week after the initial purchase. When you are accessible the relationship will only get stronger. 

Applying the relationship selling process is part of your unique selling proposition. This is how you stand out from the crowd. The personal touch is what is missing in today’s online world. This is how you can get your foot in the door for your market. This is how you can compete with the big guns who no longer have time.

Loyalty comes from applying the relationship selling process and customer retention is based on this loyalty. Remember there is intrinsic value the customer derives with doing business with their company.

Creating customer value is at the core of Relationship Selling.  Relationship selling is all about relationship building and moving a customer forward in the process while building that relationship.

So a natural component of that process would naturally be creating customer value.  But is it as black and white as it seems?

Not always, but some great ways to create customer value and have their perception of your product/service be one of value to them is a process and you need to do your homework first.

First you need to be sure you address your customer/prospect’s specific pain when looking for solutions to their problem.  If what you are offering does nothing to solve this “pain” then there is no perceived value in your offering.

This solution should be specific to your prospect – not a “one size fits all” approach but a customized, thought provoking solution that correlates the problem/pain with that solution.   Be prepared to offer them something unique.  Something that makes your product/service “stand out” from the crowd.  How do you differ from your competition?  What makes your product unique to their special needs.  If you can deliver in this area, you have provided value to your customer that others cannot.  Everyone sells pizza but does everyone guarantee it within a certain amount of time or it’s free?  Dominoes used to do that and it worked quite well with college students who were looking for “free”.  Their pain was monetary and their need was hunger so Dominoes tapped into both and created a great unique selling proposition.

Creating customer value is a process and it takes homework but it is at the core of building relationships and without it, you are just another “salesperson” looking for the big bang.

Don’t get caught up in the sale.  Be prepared, be thoughtful, be attentive and make your product/service be the solution that your customer/prospect is looking for and one that will result in repeat business, referral business and increased profits.

Creating customer value through relationship building is the key to a good, solid, lasting customer base.

PR: wait… I: wait… L: wait… LD: wait… I: wait… wait… Rank: wait… Traffic: wait… Price: wait… C: wait…