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Morning Column
Guarantee Your Sales ROI
Drive Your Numbers Up in Any Economic Climate
by Michele Lando
Al is the vice president of a national sales organization. You know the
type, pleasant enough, a hard-drivin', fast movin', numbers driven, kind of
guy. But he is off of projections by 32 percent heading into the third
quarter. Several standard reasons are tossed about at the sales meeting
when asked why sales are off: "The economy's down." "There's not a clear
differentiator between our offer and the competition's." "Two other
companies are cheaper than us." Any or all of these may be true - not only
in Al's company, but also in a myriad of others. The problem is you've
still got to hit your numbers! And, none of the proclaimed reasons sales
are down are in the control of the sales department. So what do you do?!
You learn how to know what the buyer REALLY needs in order to buy!
There's an old saying, "Business would be great if it weren't for the
people!" But guess what? Your buyers are people . . . each with different
core needs. And this has nothing to do with your products or services and
everything to do with them - who they are and how they're wired.
Your sales team is going out there doing their jobs - pounding the pavement,
making the calls, setting the appointments, making the presentations and
submitting the proposals. But are they getting the results?! You need to
guarantee that all of the effort they are already extending is going to
result in the desired Return on Investment - meeting, and exceeding, your
projections!
Here are the basics to drive your numbers up, in any economic climate,
exerting no additional effort:
The Four Potential Needs of All Buyers:
Results
Experience
Security
Information
Buyers may possess all four needs but to different degrees and with
different priorities. Think of a buyer (or yourself) and identify the
strongest need they (you) have just by observing behavior.
Here are the behaviors for the four needs:
1. Results: Get to the bottom line. Fast paced. Problem Solver. Impatient
under pressure.
2. Experience: Chat about weekend, do business in the last 10 minutes of an
hour-long meeting. Fast paced. Sees the big picture. Overly Optimistic.
3. Security: Excellent listener. Likes to have time to process. Prefers
continuity. Averse to change. Doesn't emote.
4. Information: Critical Thinker. Analytical. Perfectionist at heart who
needs to be well informed to make best decision. Slow to act.
When you take the time to observe, you can quickly determine someone's
preferred way of receiving what you have to offer. There are numerous
strategies you can adopt to accommodate each buyer.
Here are just a few tips:
The RESULTS ORIENTED BUYER
Ø Ask them questions and let them define the answers - don't tell them.
Ø Ask how much time they have before you begin talking.
Ø Ask if they prefer phone, e-mail or in-person. Don't be surprised if it's
not in person.
Ø Get to the bottom line, how it will help them based on what they have
shared with you; then ask if they want to go through the details.
The EXPERIENCE SEEKING BUYER
Ø Take them to lunch to discuss - preferably at an innovative venue.
Ø Make sure to let them have plenty of talking time to share about
themselves and ask you questions.
Ø Allow for the element of fun in the meeting - as they would define fun.
That may simply mean keeping it light.
Ø Show them how your product/service will allow them to enjoy…something -
more time, more whatever is relevant to your offer and their lives.
The SECURITY-MINDED BUYER
Ø Keep questions relevant to business as opposed to personal.
Ø Give them information parceled out. Allow for them to have time to
digest, ask questions.
Ø Share authentic stories of yourself, or others by example, which reflect
practicality.
Ø Make sure your offer is presented in a way that doesn't suggest much
change
The INFORMATION SATURATION BUYER
Ø Be prepared with statistics and data and share sources of data.
Ø Go slowly. Be prepared for a lengthy sales cycle and multiple rounds of
information sharing.
Ø Be on purpose when you touch base, setting the stage for the next
checkpoint and any additional information needed.
Ø Be thorough, detailed and create a sense of certainty for the buyer.
Taking the time to really understand who your buyer is, and what they need,
will allow you to re-think how you interact with them, from:
Ø How you engage - e-mail/phone.
Ø How to best prepare and conduct meetings - detailed agenda or more
conversational.
Ø Potential length of sales cycle - long/short.
Ø How to communicate - share personal stories or strictly business / bottom
line.
Making sure your sales teams are prepared to work with the buyer on their
terms, from their point of view, to get their needs met means guaranteeing a
return on your sales ROI. Just like Al, you can learn this critical
knowledge and combine it with an on-going action plan to see referrals flow,
sales revenue rise and projections hit their target!
About the Author:
Michele Lando is an international speaker, trainer, author and a founding
principal of Skilset Communications, Inc. a marketing and training firm
designed to help Fortune 50's to Fortune 2,000's differentiate themselves in
a crowded marketplace and drive outrageously successful sales outcomes! To
find out more about her speaking and consulting practices please email her
at mlando@skilset.com or phone 626 792.0032 x130.
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