What is the fastest way to a sale? Could you provide a formula if you were asked?
Problem + Promise + Path = Success
Sales professionals are problem solvers first and foremost. If you keep this simple formula in mind as you work with your prospects, I assure that you will get to the sale efficiently.
Define the customer’s opportunity (problem). Do this with your prospect at the same time. Make sure you understand the implications of not moving forward to solve and issue or introduce a new product. Find out where all the possible objections are now and possibly in the future, so you can start working on answering those.
For example, you are called into a prospects office to discuss a new project. What is the new project replacing? Why? What were the problems with the old program and how is this new project/part/component going to fix all the old concerns?
As you are drilling down to identify problems, make sure you look at underlying issues as well such as; logistics, cash flow, or competitive disadvantages. What are all the options to fix these issues? What are the priorities of these issues?
Once you understand what all the problems are you have to illustrate how your product or service is going to address each of these concerns. For this you need to be clear. It is imperative that you know your feats and benefits, pluses AND minuses. It is a must that you quantify – yes use NUMBERS – each of your benefits so your client can objectively argue your case when they present your solutions to others in the company
For example, there is an old problem with a design that is creating 3% scrap. Your component will eliminate that scrap. Remember, it’s not just the cost of your component, but also the labor, time, energy, and any additional items that you can point to that installation of your service will eliminate. Make sure you take credit for things that you can put a hard number on, but also additional factors such as time. If you can implement your program faster than your competition, time is also money.
As you make your promises (older sales people remember this as selling the sizzle), you are building a case for your company’s products and services. Your client will have a number so he can justify why his company should switch to yours.
Now, the fun part … PATH to this success!
This is where we objectively identify what needs to be done, and by whom, in order to implement this process. You and your client have to agree on an implementation program. Each task of the process such needs to be identified and an owner assigned. That owner needs to make the commitment that it will be done on time. This is the buy-in phase. It is here that your client takes ownership of the solution.
These three simple steps to a sale all need to be completed regardless if it’s a simple transactional sales, or a complex engineering project. Businesses don’t buy things because the “want them”, they buy because they need them. If you can prove the need (problem), you will create a want (promise), and then you can both take credit for the success!
Pinnacle Sales offers sales process consulting to individuals as well as teams. Identifying your product or services benefits sometimes is not as transparent or obvious as we like. We can help you and your teams develop this process!
Contact Us now to help you identify the proper process for your organization.