How many of you like to hear the word no? No is not typically something people want to hear when they are trying to sell a product or service. While working through the sales process with the customer we are envisioning the finish line, checkered flags waiving, confetti, and then we hear…”No”
Most sales people have had the experience early on in their careers to keep sitting in the selling phase of the sales process and not asking for the order. They do not want to hear the word “no” from the customer. During this buying decision far too many sales people will start spouting off more benefits and features, price dropping, etc. before the customer even provides feedback.
When we start justifying our price as soon as we send it, we immediately devalue our proposal. Now the customer has no other course, but to challenge the price. The old saying less is more applies here. When the sales person sends over the price, they need to stop speaking. Just like in a negotiation, the first person that speaks loses.
Now I temper that with a statement that submitting pricing is not an us vs. them situation. We are trying to help the customer here, but we need to also be paid for our services. What I am saying is that when we submit the pricing, we need to not devalue our proposition to the customer. Now the discussion should be on the customer to decide if they see the value of the investment, or if they have more questions.
Maybe the customer needs a little more information because we did not answer one of their needs that is high value. That’s okay because we can address that need quickly to help them make sure this is the best product / service they are about to purchase. Maybe the customer is in the research phase of decision making. This should have been discovered early on in the first buying decision, but maybe they are trying to budget. Then it is up to us to make sure we identify the next step for them to take and how we can help the customer.
There is nothing wrong with hearing a no right after we have provided the price. This is how we adjust and understand what may be limiting the customer from making the purchase. Just like shooting a rifle from 1000 yards away from a target. Sometimes a small adjustment needs to be made to hit the target in the center. This is our opportunity to correct and address the customer’s needs and help them see the value.
It is our job as sales professionals to help the customer’s needs get answered and help them win in this investment. If we simply walk away when we hear “no,” we are missing a large opportunity to correct and help the customer. Maybe a large need changed due to the organization’s direction. Maybe the purchasing team has been reshuffled and there is a new buyer. That happens quite often doesn’t it.
If we don’t sell the product / service right after the first time we submit a price, that is okay. Sometimes there is a better option for the customer, but if we have done a great job, the customer will tell us why we may have lost this sale, but they will tell others how we helped them if we walk with them through the five buying decisions correctly.
As a side note most sales people never go back and find out why they lost a sale. This is valuable information if that happens to adjust the sales approach going forward!
We just need to make sure we do no devalue ourselves, or our offerings while working through the sales process with them.
Have a great day!
Sincerely,
Kevin Sidebottom
“Businesses wonder why the majority of their sales teams struggle at winning profitable business. I teach your sales team to walk with the customer through the five buying decisions, and in the correct order to generate more sales with high margins!”