Selling Value Helps Closing Sales Faster

Selling Value comes down to one question: What can you provide that your competitors can’t (or won’t)?

Salespeople who realize this are eager to learn everything they can about their prospects. The more avenues they go down, and the more they devote to understanding their prospect’s needs, the stronger their selling points are.

Any salesperson knows that price is only one component of value. And really, what prospect wouldn’t pay twice as much for a product that promised three-times the Return on Investment (ROI)?

So what becomes important throughout the selling process is maintaining focus on exactly what your company can provide to solve the prospects biggest problem.

1. Prepping the prospect and yourself. First things first. You want a prospect to be excited about meeting with you. The more they’re looking forward to it, the more inclined they ‘all be to give you their full attention.

That means when you get on the phone to call prospects, have your smartphone, laptop, IPad, etc to the calendar to book the appointment at the first available time and date. Sounds simple, right??

But the longer you’ve been at it, the easier it is to put the appointment off for a few days or perhaps a few weeks. Scheduling quickly keeps everything you talked about on the phone fresh in the prospect’s mind, and it diminishes the chance they’ll postpone or cancel the appointment.

Salespeople are well acquainted with the practice of sending promotional items, catalogs, or white papers to buyers. With e-mail and overnight delivery, it makes it much easier to send information the prospect can review prior to the meeting.

Here are some examples you may have used to get the prospect engaged prior to the meeting with you, and provide them a chance to form questions of their own:

*A plain-English breakdown of any clinical research on your product, so the customer can understand what makes it superior.

*A list of ways your product/service can be used and how it can be used based on the company’s need.

*A list of customer testimonials that focus on how the product/service has been effective, and/or

*A comprehensive list of product benefits, and additional services your company provides.

2. Selling value at game time. It’s what the voice in the back of very salesperson’s head is saying to them before each presentation: Don’t oversell.

You want the prospect to expect great things from you, but you also want to promote a feeling of mutual trust and respect.

Here are some quick reminders of ways you can translate value and promote your company’s reputation during the presentation;

*Handle objections head-on. Salespeople have heard every objection in the book. Over time, you create your own responses to each objection-answer that address concern, place the prospects at ease, and bring the meeting back to the center.

*People do judge a book by its cover. It is unfortunate but true. Image is everything. There’s an old exercise where you write down four words that describe how you want a prospect to view your company. Your appearance should reflect those four words.

*Ask pointed questions to uncover needs. A lot of salespeople are familiar with the phrase “perceived value”. You may have the best benefit statement in the world. If they don’t help fill the prospects’ particular needs, they’re useless.

3. Playing for the long-term. When a buyer signs on the dotted line, a sale ends and a relationship is born.

Potentially, that a buyer could mean a great deal of repeat business. So it’s wise to keep three loyalty-builders in mind:

a. Resolve problems quickly and completely.

b. Maintain a regular-follow up schedule, so nothing falls between the cracks.

c. Communicate each action to the customer. It helps to further establish trust.

Try this and let me know how it works for you.

Happy Selling!

Thomas Ellis

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Business Strategy: From Doers to Thinkers and Back to Doers

Most small business owners are the “doers.”

In addition to being entrepreneurs, you are also doing the finances, marketing and operating your business.

However, day-to-day work can distract you from the most important part of a CEO’s job: thinking and building your business strategy.

When consultants mention the word strategy, many small business owners change Continue reading

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Business Banks: Best and Worst

Your bank knows your credit score.

But do you know your bank’s credit score?

When there’s a problem is your business bank going to work with you to fix it or are they simply going to tell you to pay up or else they will send it to collections?  As a small business owner your credit is even more important as you may have to guarantee your small business loans with your personal credit.

Your credit score is an indication of how good it is to do business with you.  But what about your bank’s score.  We’ve lined it up for you. Continue reading

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3 Ways Commuting Can Affect Your Insurance Coverage

Do you realize the impact local laws have on your insurance coverages?

Since each state has its own Insurance Commission, insurance laws vary from state to state.

Sometimes living in one state and working in another provides an opportunity for insurance coverage that might otherwise be unavailable.

In the world of supplemental (also known as limited-benefit) health insurance, there are a few instances where crossing the state line can Continue reading

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LinkedIn: The Best Small Business Networking Tool

LinkedIn is the best small business networking tool.

Provided you use it right.

Many people become confused when they hear LinkedIn. Thoughts of spending time learning how to use yet another new social media tool become overwhelming for many.

Fear not small business owner, let me break it down for you!

Let’s follow the wise words of Yoda from the Star War movies who said “you must unlearn what you have learned.” In that regard – FORGET about social media and FORGET about Continue reading

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Productivity Is Foiled by Technology Distractions

Does Technology Save You Time Or Help You Waste It?  

woman working on laptopTechnology in theory is supposed to increase your productivity. Technology distractions can also offer interruptions to what you need to accomplish; thwarting your efforts for good time management.

Sometimes it seems there is a correlation between spending more time in front of a computer or mobile device and Continue reading

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Business Consultants Close Deals Better Than Sales People

Have you wondered why many of your deals are not closing?

Maybe it is because you are being a sales person and not a business consultant. What’s the difference between a sales person and a business consultant?  Good Question.

One difference is the sales person is so concerned with closing the sale on their terms that they neglect listening to the customer.  The customer wants to know that they will save time or make more money by employing your solution.  This is what business consultants do; provide solutions that make a business more competitive.

When acting as a business consultant, salespeople are more focused, insightful, and knowledgeable about their products, as well as Continue reading

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Employee Benefits: Group Insurance vs. Individual Insurance

Employee benefits come in all shapes and sizes.  Not only do employers choose their employee benefits, they also determine how much they will be pay for the benefits (if at all).  There can be so many options, the choices seem daunting. Employer-paid vs. employee-paid. Group Insurance vs, Individual Insurance.  It’s enough to make some employers scared to even make the decision!

Once you get beyond major medical and 401k, the offerings of supplemental benefits expand even more. Then there are the choices among Continue reading

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Work Smarter, Not More

Are you working long hours but not accomplishing everything you would like?

Revising your work schedule and habits may help you manage your time better. A few changes could result in you working smarter.

Schedule blocks of un-distracted time. This may mean working earlier or later than those around you, only checking email at set times or closing your door and asking not to be disturbed.

Clear your brain. If you are always trying to remember something you need to do it’s hard to focus on the task at hand. At the end of the day create a written or digital list of everything you need to accomplish the next day.

Prioritize your Continue reading

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Important Ratios Lenders Want To See

Last time we met, we covered the Elements of a Loan Application.

Small business owners can hurt themselves by applying for a business loan without having all their ducks in a row, which is a simple fix.

We’ll continue down that same vein today by looking at what lenders look for – not in the elements and parts of the package – but in the financial minutia.

What exactly are those pesky underwriters looking for? Ratios!

When assessing the strength of a business, lenders focus on Continue reading

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5 Tips to Find New Clients Using LinkedIn

Is your business on LinkedIn?

Are you using it to it’s maximum potential?  LinkedIn is the most effective source of leads for business to business (B2B) companies, according to data from HubSpot.  So, if your company sells to other businesses, LinkedIn is where you want to be.

Graphic, LinkedIn 4 times better for b2b sales

According to Marketingprofs, Linked in is 4 times better than Facebook and Twitter for business to business sales and is outpacing both social platforms in growth.

Here are five tips on how to Continue reading

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Six Qualifying Questions That Will Help You Close More Sales Faster

It happens all the time.

A sales person’s closing ratio needs improvement.  He spends several weeks polishing up presentation skills but doesn’t improve his results.

Often, the real problem has nothing to do with closing.  Rather, it has everything to do with not qualifying prospects. Once someone gets out of the habit of qualifying, it’s difficult to start again.

The result is Continue reading

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Financing Your Business – Elements of a Loan Application

Confused on what exactly a business banker wants? Ever been turned down for a loan and don’t know why?

Let’s see what we can do about that…by looking at what you’re giving them.

Now, every bank and each lender will want or look for something the others don’t.  But, they will follow the general gist of what you’ll read here.

That being said – call them, talk to them! Ask if they have certain guidelines they like to see. Don’t forget, they want your business! The easier Continue reading

Posted in Business Credit, Business Loan | 2 Comments

Understanding Commercial Lease Clauses (Part I)

A successful business starts with the right location.

However a great location with the wrong lease terms is a good business for the landlord only.

Even a successful business model can fail if the founder neglects to understand the terms of their lease.

Once your perfect location has been identified, the lease negotiation is crucial for the success of your small business.  To protect your interest, it is always important to Continue reading

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Misconceptions About Employee Benefits

Small business owners across the nation have a major misconception about employee benefits.

And one of the best benefits an employer can provide won’t cost them extra money each month.

Do you know what it is?

The most common employee benefits Continue reading

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