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Myth: It's a Buyer's Market
Reality: It's whatever market the sales professional wants it to be |
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There are no victims in sales. Either we control or we are controlled.
The speaker was addressing a room full of CEOs. His focus was price: eventually all products and services must be sold on price, he said. Especially right now. It's a buyer's market.
I was not there and he used me, by name, as an example of sales trainers who are teaching a "false" message of value over price. He did not know that many of the people in the room are clients!
Let's adjust that thinking:
What's a market?
What's a "market"? The word is misused often. There are geographic markets, demographic markets and a host of others. Remember, in every market there is a vendor selling at a higher price point; it might as well be you!
Here are the basics:
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You will always be competing with a lower-priced competitor. Always.
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Due to the current economy, more and more vendors are resorting to discounting.
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Buyers are becoming accustomed to receiving discounts. It is expected.
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Cardinal Rule: Most buyers are better at buying than salespeople are at selling. (They have more experience.)
Action Items:
DIY Sales Training
- Weekly Sessions Use your existing training programs or download new ones (many are free) and engage in open, interactive sales training sessions led by your own team members.
- Role Play More important than ever is your ability to think on your feet. Role play is the best training for this.
- Share Best Practices Buyers are coming up with new approaches and objections. The best ideas come from the field. Share what you're learning and expect even more new ideas to come out of these sessions.
Control the Sales Environment
- Purpose: know the purpose of the call and stick to it. Don't let the buyer drag you into a conversation about price. The purpose of the call is not for you to lose money, right?
- Use Questions: remember, the human mind cannot not respond to a question. The person asking the questions is the one controlling the call. In your role plays, practice controlling with questions.
- Qualify! Quantify! More than ever, quantified solutions are becoming mandatory. Without them, the sale will be made on price. If you can cut costs, for instance, know which categories you will impact and what the dollar savings will be.
Stop talking to buyers!
- You're already at cross-purposes; buyers are paid well to pay less.
- Who in the client's organization will stand to benefit the most from what you offer? Talk to them instead.
- And maybe you don't even need to talk. How else could you creatively contact your clients?
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 Miss an issue? No problem.
Visit the archives:
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As mentioned in my late April newsletter, the April uptick is having its effects. We wish the recovery was a "V", recovering as quickly as it deteriorated, but it's not. You may find that your clients are expecting, but no longer demanding, quantity discounts for smaller orders.
If you know someone who could benefit from this issue, pass it on. More info on my web sites: Chuck Reaves and SaleSSuiteS
Vistage Chairs: forward this to your Members and use it to help them help their salespeople. Members with better top and bottom lines make better members!
Teach Others!
Chuck Reaves, CSP, CPAE, CSO
SaleSSuiteS
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Chuck Reaves, CSP, CPAE
1.800.MR. REAVES
(800.677.3283)
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Who is controlling the call? |
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Whoever controls the call pushes it towards their agenda. When you sense the buyer is taking over, try one of these:
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Physically move - and don't talk while you're doing it. Move to another seat, walk over to the window, rearrange your papers. And do it without talking.
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Write detailed notes without speaking. Then ask a question.
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Ask a question that requires a detailed or difficult answer. (Pre-call planning is critical here.)
And,of course, never let them see you sweat.
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| DIY Sales Training |
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Use the ideas in this issue for do-it-yourself sales training. Have everyone on your team read the text and then use the following discussion questions to generate new ideas for your sales team.
- List up to seven new objections or tactics buyers are using.
- Address each one by asking everyone to submit an idea.
- If you had to address this issue through an email, how would you change your answers?
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| Quick Links |
Two new Modules have been added to the SaleSSuiteS content. Click on this link and go through the "Training" door: See the New Modules
Two new tools have been added the Sales Analytics page. Click on this link and go through the "Tools" door: See the New Tools
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