February 2014
Issue: 83

Gaining Trust With Trade-offs 
    
  

 
   

Dan,

  

Our team recently attended your workshop. We didn't have time to fully explore your concept of "trade-offs." Some of us are confusing the use of trade-offs with handling objections. Can you please explain trade-offs in greater detail? 

  

Thanks,

  

Jill

Boston, MA

  

 

 

 

Jill:

  

Excellent question. Yes, trade-offs can be used when handling objections, but optimally trade-offs are used to anticipate objections and build trust. Using trade-offs is another way to serve as as a true consultant to your clients.

  

The General Concept

My experience tells me that a sales methodology based upon TRUST is the most effective long-term sales strategy. It will result in more deals, at higher margins, in less time, and with greater forecasting accuracy.


In my opinion, a trust-based sales methodology works best in markets with these characteristics:

 

*    High Tech Sales  

*    Business to Business    

 

*    Long, Complex Customer Buying Processes

 

*    High-Risk Transactions

 

*    High Technology & Services

 

*    Substantial Initial Investment

 

*    Selling To Senior Executives

 

*    Highly Educated Customers

 

 

Let's face it, Rush Limbaugh will never be sold on voting for a Democrat and Nancy Pelosi & Michael Moore will never be sold on voting for a Republican. I would never advise a sales rep to try to change the mindset of these individuals completely. The opportunity cost and the resources required to do so would make it a foolish endeavor. There are, however, many voters/consumers who are in the middle and can be influenced by a highly trust-based, strategic and consultative approach. Working with these folks is where we get the most bang for our sales buck.

  

Senior executives and highly educated customers in this market do not want to be sold. They are looking for someone to help them in their buying process.

  

Let's use a car salesperson as an example. Imagine eavesdropping on this Toyota rep and potential buyer of a mid-size four door car. 

  

Client:

"I like the Toyota Camry but the VW Passat has a sportier look. And, the local dealer has a car in the showroom with a leather interior for a savings of about $4,000 compared to your Camry."

  

Average Sales Response:

"You don't understand, the Toyota Camry is the number one selling four-door car in its class. It has more power and better handling, better gas mileage, better braking and... blah, blah, blah."

  

Now let's compare how a sales superstar would respond:

  

Superstar Response:

"Tell me more about your preference for the VW design and cost savings."

  

Client:

"Well, the Passat has sleek looking headlamps and its lower price is really important to me."

  

Superstar Response:

"Yes, I really like the VW Passat. It is an excellent car. It would be one of my top two choices if I needed a four- door sedan. The Passat design engineers have done an excellent job integrating the headlights with the hood and side panel. It makes for a finished, smooth look. I can really understand why you like the design. Several of my other clients have mentioned that exact point.

  

But you know, at the end of the day, after you do an exhaustive evaluation of both the Passat and the Camry, there really is no perfect solution. Each has trade-offs."

  

Client:

"What do you mean? Tell me more."

  

Superstar:

"Well, we agree on the styling of the headlights on the VW Passat. In addition, your up-front initial investment for the Passat will be at least $4,000 less than the Toyota Camry. In fact, if you want to go that way, I would suggest that you could probably get it even $1,000 less by using Costco's auto buying service. I can assist you if you want to go that way. But, like I said, the VW Passat does have some significant trade-offs."

  

Client:

"What are the trade-offs?"

 

Superstar: 

"You said pricing was important to you. Well, if you look at the INITIAL investment to own each car, the VW Passat has a significant advantage. The upfront investment is important but as you know, Consumer Reports publishes a yearly analysis on actual ownership costs. When you consider the trade-in value, gas savings and maintenance costs, Passat's lower initial investment disappears after only 12 months of ownership. Additionally, you told me earlier that this car will be used frequently by your husband and your new baby. I think that you will really appreciate the advantage the Toyota Camry has over its peers in safety and crash test results."

  

Reviewing the different exchanges makes you wonder about the goal of the respective reps. It seems that the goal of the first "Average Rep" was to make a sale.  She wanted the order and that was obvious as she attacked the customer and tried to push the benefits of her product.

  

What was the goal of the Superstar? Get the sale? NO! Her goal was much different. At a high level, it was to BUILD TRUST. She knows the secret to sales. Trust=Sales.  She also wanted to help her client make a wise purchase. She used the power quote: "At the end of the day, after you do an exhaustive evaluation of both the Passat and the Camry, there really is no perfect solution. Each has trade-offs." This statement set her up to implement her highly consultative approach. 

  

Trade-offs can also, and should also be used prior to hearing any objections. Most effectively, use trade-offs preemptively. Remember that you can gain trust early in your conversations with clients. Then you can head off any objections before they occur. For example, let's say your solution has a big flaw, or that you are aware of your competitor's unique advantage. 

 

In both of these instances you are confident that the client should discover the flaw or competitive unique feature in any event. Why are you waiting for the client to bring it up? Why not address it preemptively using trade-offs, and allow yourself to gain trust at the same time? You also will take the wind out or your competitor's sail before he can highlight your product's flaw, extinguishing his attempt to earn trust. 

  

What do you need in order to use this advanced and consultative approach? You will need to anticipate major objections so you can preemptively address any objections that you know you will eventually face. You will also need to know the top three to five trade-offs for each of your client's options. Don't forget to include your own solution in this analysis.

 

Good Selling! 

    

 

 

 

 

 

 

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For more information on Dan's book go
here
 Building Trust, Growing Sales
How to Master Complex, High End Sales Using The Principles of
Trust Triangle Selling™

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Daniel Adams
Adams and Associates
263 Barefoot Beach Blvd. Suite #405
Bonita Springs, FL  34134
630-215-5090

Email: dadams@trusttriangleselling.com

Web:  www.trusttriangleselling.com


Copyright © 2007-2013 Adams & Associates. All rights reserved. Reproduction in whole or in part in any form or medium without express written permission of Adams & Associates is prohibited and strictly enforced.



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