Have you ever been giving a large task or project and became completely overwhelmed? Doubt instantaneously enters your mind and you get an anxious feeling. We fear the mountains that life throws at us. People tend to procrastinate or stress over this common occurrence. In turn, we freak ourselves out and it shakes our confidence. Believe it or not, this happens often, in the sales process, for your clients too. It is our job as sales assassins to ensure that we reduce this ridiculous image, in our client’s minds.
Reducing the ridiculous means to make this overwhelming image seem small and manageable. It will stop your clients from psyching themselves out, of making decisions. I see this the most in price objections, projects, goals, etc. We think of where we are now vs. the end goal. Instead, we should be thinking of the next step we need to take. If you think of this next step you realize that it is not so bad. We are more likely to start taking action. The most common one, with clients, seems to be the pricing objections. They may keep focusing on their $10,000 total instead of the $278/month, at 36 months. The goal is to get your clients to not fixate themselves, on the big picture. Hence, reducing the ridiculous.
How to Handle the Objections with Price
The most effective way is to breakdown the big number to a small number. Commonly, salespeople will break down the total into a monthly dollar amount (if there is financing available). I found this to help but you can break it down even further into a daily amount. This tends to be even more effective. People start to understand that this giant number they are focusing on is not that bad. That same $10,000 total can be broken down from the $278 monthly total to a $9.26 daily total. Really, that is only a trip to lunch. See? Not so bad after all!
Always break down the daily total into something that is a common daily item. If something is around $5, then that is similar to a cup of coffee a day. When you have something under $50, that is similar to a date night meal, at Chilis. I believe that it is more effective to name random food places because people can easily cut out eating out at a food place. You can state something like “The difference, in monthly payments, is around $15 a month. That’s lunch, at Chili’s. Can’t you sacrifice eating out lunch one day to get the ______ you would rather have? Let’s just do it!”
For the cash buyer, there is a different way to go about it. If you are at a standstill, let’s say the price is $2,500 and they are fixated at $2,200, you can breakdown the difference.
- Increase the value another $300. A true sales assassin can go over features and benefits and solution selling to increase the value another $300.
- Instead of focusing on how to discount it to $2,200, focus on how to find another $300. There are a few ways to do it. You can take the $2,200 cash and financing the $300.
- You can use the takeaway close to take away $300, instead of discounting.
- You should always try and solve the problem. It is super effective to try and find where they can get another $300 they didn’t know they had. For example, in the furniture business, I would get people thinking about selling their couch on Facebook marketplace or Craigslist. This offering got people thinking outside the box. It closed quite a few deals too.
You can use all of these tactics on a financing buyer as well. The key is to go through each scenario. Consistency is how you get deep, in the close. The issue isn’t the total, the issue is the belief in the product or service. Remember, if you solve the problem your client’s will pay any price!
How to Use This on Your Goals and Projects
You can use this closing technique, on yourself, as well. If you are given a monthly goal, break it down to a daily number. This will set yourself up for success and decrease your stress levels. Break it down into easily manageable numbers. Realize the steps and work that will be needed to happen to hit those targets. If you know that you need to make 20 sales, in a month, that is only 1 per day. 1 per day is very doable.
Try focusing on the day by day work. Realize the next steps you need to take and then take them. Don’t get hung up and thinking about all the work for the whole month. The only thing that does is waste your precious time. It increases your chances of procrastination too. I love creating game plans. Game plans make it real. You put the necessary steps on paper and can knock them out one at a time.
Progress is progress no matter how small. I would say that if you make progress towards your goals that it is more than what the majority of people do. People like to wing it. Horrible idea. Ever hear the saying “luck is where preparation meets opportunity?” It’s true. Create your own luck by always being prepared.
Overall, the goal is to take the big or unreasonable and break it down to a small, manageable number or task. People will start to come to their senses and justify it to themselves. It will boost the confidence, in the decision, and result in more sales. Always remember to ask for the sale! Don’t dance around the ask. Do it boldly.
Please comment on your favorite learn from The Reduce the Ridiculous Close!