So there you are in your sales cycle. Ready to show your client your product or service and build value. You’re so excited and so passionate about what you’re selling that you tell yourself there’s no way your client won’t fall in love with it. You start to talk about the specs, features, benefits, and maybe even how this can solve your client’s problem. Everything is going perfect. You’re crushing the demo. Confidence is sinking in and you’re sure that your client will buy and even pay full price. You finish up your demonstration only to get this reaction from your client…
DEVASTATION! Your heart’s literally ripped out of your chest and you’re suffocating like a fish out of water. You go to what’s easy… slashing prices and hoping something sticks. You client smells desperation and sees you backpedaling.
This typically ends one of two ways. First, you get the sale (hey a sale is a sale) but you’re at your bottom dollar and margin. Second, your client perceives your desperation as weakness and runs away. You’re left there making excuses like “they weren’t going to buy anyway” or “no one will ever buy what I am selling.” When in reality you can control this situation if you just know how to handle it.
Preparation Before the Demo and Building Value
A sales assassin typically has a sales cycle that they follow. It’s important because it keeps them on track and if a sale breaks down you can evaluate what went wrong, how, and then can work on improving for the future. My sales cycle looks something like (find my sales cycle here):
- Greeting/First Impressions (How to Perfect Your Greeting Here)
- Questions: Needs/Wants Analysis (The Best Questions to Ask Your Clients Here)
- Find Product/Service and Demo to Build Value
- Present Proposal to Make the Deal Real
- Ask for the Sale/The Close/The Referral
If you have a full understanding of the sales cycle you’ll be set up for success. The needs/wants analysis will properly set you up for the rest of the sale. Asking the right questions will determine what your client truly needs and more importantly how you can solve their problem. If you’re not thorough with your questions you will be shooting blind. Never a good thing.
Importance of Knowing Where You’re Failing
Most salespeople are shooting blind. What I mean by that is you start to throw out these random specs, features, and benefits without even understanding who is in front of you and what’s important to them. Imagine yourself playing darts blind… Do you think you’ll be better playing darts blind or being able to see? Now, we all know what happens if you do that!
It’s a dumb question because your answer is most likely being able to see. For those smart asses out there who answered they would rather play blind, how about this one. Would you rather bet your income on you playing darts blind or being able to see? In sales, if you aren’t asking the right questions you’re playing darts blind and riding all your income on it. Why you ask? Because missing sales is punishing your company, you, and more importantly your bank account!
Never attempt to demo and build value without properly setting yourself up for success.
Now, you may be excellent at asking questions and even asking the right questions (there’s a difference). Only, you fail and understanding how to properly use the answers to your advantage! We ask questions and listen to responses for a reason. Because this valuable intel that you are uncovering is going to help you in all sorts of ways.
- You’ll have a better gauge of what product or services to show your client.
- You’ll know the selling points that will stick out to the client and what’s important to them (that is where you truly build value).
- You can hit the pain points of what problems your client is experiencing and explain what you’re selling in a way to conveniently solve those issues.
- It shows you truly care about your client’s needs, wants, and issues and not that you’re just trying to get at their pocketbook.
- You stand out because no one is doing this or doing it as in depth as this.
People don’t buy specs or features. They buy benefits, solutions, and experiences from great salespeople. Knowing what’s important to your client is one of the most important things. You need to tailor your demo around what’s important to your client and that’ll help you build value. Why? Because everyone’s wants, needs, and issues are different. Plus you can find out what’s important and present those things first. That’s why your client is there in the first place, right?
Finally, the last major issue that is causing you to breakdown is that you’re talking too much. Always remember the simple rule that your client should be talking 60% of the time and you 40%. No one likes that salesperson that rambles on just to hear themselves talk. You’re running people out the door if you are doing this. Also, when building rapport you shouldn’t be talking about yourself, only the client. The only time you talk about yourself is when it’s information pertaining to you becoming relate-able. Example, if you client has a dog and you have one bring that up by mentioning yours but then go right to having the client talk about their dog.
You remember the iconic movie A Christmas Story right? If you haven’t seen it I am outraged! You totes need to see this (totes = totally). Anyway, the scene where a Christmas tree salesman is selling the family a Christmas tree and shows everything on what not to do (if you haven’t seen the scene here it is so you know what I am talking about). He’s hopping from tree to tree and praying that something sticks. When instead he could have asked “what’re you looking for in a tree?” and taken them right there. Boom it saves time, headaches, and makes you more credible as a sales assassin.
Now, if you’ve ever seen the movie The Wolf of Wall Street (great sales movie btw if you’ve never seen it you need to) you might remember the phone sale (to see the scene click here). Now, in this scene he calls his client and sells the stock based on what is important to that client. The two aspects that were important to the client were high potential and low risk. His demo was tailored around that when he talked about potential (up to $60k) and low risk (government potential and patents). This increased the value in what he’s selling and he even increased the value in himself by talking about his track record! That’s a little bonus for you right there. You see what I mean?
The Best Way to Build the Value
I know I touched on it a little bit but a great way to demo and build value is to tailor your pitch. Understand what’s important to your client and go into exactly how your product or service is perfect for them. You have to do this in a way that highlights those selling points. This process is going to incrementally increase the perceived value in what you’re selling.
*Important* Always remember to revert to building more value in what you’re selling instead of falling back to discounting it. The greats do this. Now, doing this is not the ease way by any means. You should look at this as you bridging the gap in price differences. For instance, if your price is at $4,599.99 and the client is stuck at a $4200 price point you don’t need to sell $4,600, you need to sell $400. Make sense? They already value it at $4200 so all you need to do is create $400 of extra value to get the close. So fall back on added benefits and solving the problem.
When value exceeds price you get the sale.
The single greatest way to create value is to solve your client’s problem(s). If you solve the problem you’ll get the sale. Just know that if your client is refusing to buy, at your price, then they probably don’t 100% believe that you’ll solve their problem. There’s probably some sort of uncertainty that you need to uncover. Aka the objection! You need to pull this objection out by going deep in the close. You have to ask tough questions that’ll probably make you and your client uneasy. This is needed though because if you never hear what the objection is you can never overcome it and put your client at ease. Consider it your mission to solve this objection and make your client happy.
Bonus value is created with up-sells and add-ons. Both of these are going to reinforce your client’s confidence in their decision, while simultaneously amplifying their purchase. It’s a win win! All you need to do is ask. Ask the simple question, “can I show you a couple ways to amplify this (product or service)?” What’s the worst that can happen? They say no? You already got the sale so you might as well. The number one money being left on the table is that from lack of up-selling and add-ons, better known as suggestive selling. An up-sell is going to show someone the step up or next package of whatever they are looking at now. It is guaranteed to benefit the client with an added cost to the deal.
Always, always, always make sure that you remember to build value in yourself! If you’re going to give your clients the best possible customer experience let them know that. People value that and respect it. Everyone’s looking for a great experience. Don’t forget that irreplaceable part to the whole deal!
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