However, there are a few time-proven methods that sales reps can use to overcome this objection. Here are a few of them:

1. Stop the objection from coming up in the first place. If the sales rep asks the right questions, shows passion, appeals to the client’s emotional hot buttons, demonstrates product knowledge and creates excitement, a lack of money will not be a deal killer. The funds will be found. Seldom is it that money stands in the way of people who really want to do something.
2. Frame the price in relative terms. This begins by researching the market and seeing what the competition is charging. If the price your competitors charge is higher, contrast your price. If their cost is lower, emphasize the unique selling proposition of your product/service and quote a higher price than your product/service sells for – then immediately let your client know that they can purchase it for a reduced price. This approach will sound like a bargain…and who can resist a bargain?
3. Drive home the cost of not buying your product/service. This means educating your client on the benefits of your product/service, and the rewards that they will reap by buying now. This begins with the sales rep having detailed product knowledge, then illustrating the savings of time and/or money that your product/service can offer your client.
4. Know your client’s deepest concerns, and explain how your product/service will solve them. Become familiar with the business and industry your client is in. What keeps them up at night? How can they gain a competitive edge? How can your offer make their life easier? Once you have answered these questions, it is then only a matter of presenting your offer as a way of solving your client’s problems and thus making their life easier if they accept your offer.
5. Remove the price from the conversation and qualify them again – “Let’s forget about the money for a second – do you see your company benefiting from this product?”

Keep these points in mind, and remember that it is all about the client – not you! If these ideas are presented correctly, many price objections will be overcome.

5 Ways to Handle Price Objection is a post from: The Science and Art of Selling by Alen Mayer

The process of discovery is of paramount importance in your selling career and learning to ask the correct questions is a very necessary skill to acquire. Only when you have discovered what it is that your customers require can you begin to present them with the appropriate solution. Cold-calling can become a thing of the past if you become adept at learning as much as possible about your potential customers (before you call them). With this pre-knowledge in hand, you can be way more confident when approaching your client. You’ll also be better equipped to ask the best, most pertinent types of questions that will give you the necessary information to assist you in presenting the best possible solution.

By knowing your client, you’ll know what kind of questions to ask. Instead of coming across as a salesperson who is simply taking a swing at getting the sale, you present yourself as knowledgeable and as having an understanding of your client’s business. This already puts you in a far more superior position than those salespeople who will go in blindly.

Take the time to learn about your client; listen to his needs; and ask the best questions. This will help to fast-track your sales career as you continue to perfect your sales skills.

Sales Tip #31: ask more questions is a post from: The Science and Art of Selling by Alen Mayer

The cry of “hard times” is heard at all times, and not just in these hard days and that is where you should refresh your knowledge of how to handle objections during your sales process.

“Times are too hard, I can’t afford to buy anything“ – how often have you heard that in the last few months?

This objection is made during the most prosperous times, as well as during periods of financial depression. Customers are confronting sales people all over the world with this before even they had a chance to show them the products, or tell them how they can benefit of them.

It is seldom, however, that the objection is made seriously. Oftentimes prospects don’t have anything else to say. They don’t mention it seriously and don’t expect you to take it seriously.

So what to do?

Pay no attention to the cry of potential new recession!

Don’t forget that you create the value through how you’re selling, not just through what you’re selling. You can create the value in each step of sales process, but the most value can be created early in the process by helping customers to define their needs (use trigger events!).

Here is the list of 10 things to do:

1. Go back to prospecting and find customers who want to buy in any market, and spend your time only with the decision maker.
2. Use open-ended questions, use clarifying questions, and remember that great questions produce great answers.
3. Make it easy for customers to say “yes”.
4. Ask for the order. Ask for the order. Again, ask for the order.
5. Use direct questions such as: “Are we ready to move on this? When can we get started? Shall I write up the order?”
6. Use active listening skills. Ask for the feedback.
7. Remember to read buying signals.
8. Don’t forget to send a thank you note.
9. If you get the sale, send them a note thanking them for their order.
10. If you don’t get the sale, send them a little note thanking them for taking time to meet with you.

It is intelligence that makes times easy, and it is the lack of intelligence that makes times hard. Go back to basics. Invest in your knowledge and sharpen your skills, that is the best way of not buying the cry of “hard times” from your customers.

Going Back To Basics – 10 Things To Do is a post from: The Science and Art of Selling by Alen Mayer

Try to demonstrate a willingness to support your customers in growing their companies and fulfilling their business needs and desires. This attitude will go a long way in gaining their returned support and their appreciation for your expertise and advice. They will soon realize that they can rely on you for excellent input and will value your efforts.

By taking the customer’s point of view, you will automatically think from their perspective, making decisions that will benefit the business and add value to their bottom line. There are very few customers who can say “no” to that kind of service!

Sales Tip #70: help the customers achieve their goals is a post from: The Science and Art of Selling by Alen Mayer

Call on a thousand average people to whom your proposition is salable. You’ll find the same objections on the lips of the majority of them. And these objections, boiled down and standardized, resolve themselves into a very small number.

For instance, in the paint business the standard objections are:

(a) “Too much money tied up in present stock to consider changing.”
(b) “Nobody is asking for your products.”

And really these two objections represent the big buffing points of the paint salesperson today, found in the mouths of the great majority of their prospective buyers.

Now considering the fact that the majority of a salesperson’s calls have the same objections, it is only reasonable to suppose that the same rebuttals or answers should overcome them.

When I say objections, I mean what I say – bona fide objections, not merely excuses for not buying. That kind of objections is a reflection on the salesperson by not yet selling the customer. A real objection can be defined as a valid, existing reason for not taking the products or proposition. When it’s overcome the sale is made.

The effective rebuttal or answer to an objection is one that gets past; it settles it forever. Every salesperson should study and classify the objections met throughout his or her career. Then when these objections are well established in mind, the salesperson should start formulating rebuttals. They can be (the rebuttals) taken from colleagues, common sense, experience, and experiments.

Whenever an answer overcomes one of these standard objections and makes the sale, put that answer down as a standard rebuttal to that particular objection. There’s nothing better than your own success journal. And the first thing you know, your skills toolbox includes a standard, effective rebuttal that will clear the path of every common objection you meet.

It is positively a shame to see salespeople stumble and stammer and “hem and haw” in answering an objection they have been up against forty times before. It is inexcusable.

Further reading:

• If you live by price – you will die by price
• How to win the deal without discounting
• Three Classes of Price Objections
• Six Common Objections and How to Handle Them

What are Sales Objections? is a post from: The Science and Art of Selling by Alen Mayer

The only thing you can accomplish is to lose a precious time chasing prospects who are not interested for your product, or they are not a fit for your products or services at all.

Many unsuccessful sales people spend their time with customers who are not even close to sales process and to buying, but poorly trained sales person still contact them regularly simply because they are in pipeline and they need to fill their day somehow. Talking to that kind of prospects is just a waste of your and their time.

When you are selling you need to differentiate and trigger events will make this possible. You will have tools to create the opportunity for you, and not just in the visible market where customers are actively looking for provider or supplier, but also in the invisible market – you put them in the market, you are making customers realize that they are on the market now. Without trigger events you can’t force customers to meet with you because you will be just one of many sales guys knocking on their door.

Here are two examples of trigger events:

• Your research shows some trigger events like hiring new 15-20 sales reps or changes in upper management levels: this clearly sends out messages that the company is in need of new office furniture or new computers with software, or maybe a new benefits plan for employees.
• Thousands of corporate turnarounds occur every year. You may have read about a few of them in your local newspaper, but that’s not enough. There are companies in a turnaround phase that affect sales in your area all the time. I suggest keeping abreast of the New York Times or other newspapers like that in your region. Their business page carries a number of turnaround events throughout the company along with web sites by the large accounting firms and graduate business colleges such as Wharton. Turnaround time means change time: new people, new products, new services, and new sales potential for you.

Customers will be positively shocked with your due diligence and fact-finding mission you accomplished with them. When you contact your prospects and on the first conversation you leave them with impression you know their situation very well — you care to help, and you can add value to them, trust me when I say you are much closer to signing a deal than anybody else.

After discovering trigger events, the next steps are to develop the customer’s perception of your unique value. What can you do for them? How your solution can actually create value to them?

Trigger events will give you the clue about the timing too.

More about Trigger Events here:

Selling in 21st Century

Hit or miss doesn’t work in selling

Get the book “Trigger Events”

Differentiate Prospects from Suspects is a post from: The Science and Art of Selling by Alen Mayer

Consequently, through unorganized, hit-or-miss methods, his cost of selling is high simply because his methods are not as efficient as they should be.

This does not mean you shouldn’t use your instincts and training well. But it does mean that your sales assumptions must be based in a finding of facts, not guesses.

Using the dart game in the sales profession can lead to failure. You have limited time on your sales call to a prospective buyer and your darts must hit their mark. It’s even more crucial when you use the phone for your sales prospecting activities: many telephone sales calls miss their mark as being off-the-shelf calls that aren’t developed with a specific buyer in mind. Dartboard selling is a quick way to go broke.

Top notch salespeople advise that 75% of a successful sale is due to the pre-flight work. You must make sure you know what direction you want to go in, and you have to ask precise questions that will lead you to confirm needs you recognized through trigger events. You must know what direction to fly before your takeoff.

Most sales people out there are making a huge mistake meeting (or talking over the phone) with their clients unprepared. They think it is enough to schedule the meeting and they will work their magic and close the deal. They will try to break the ice with the customer by talking about the stuff in his office. Then the next misstep is to ask a few questions and not even wait for the answers, but to start with the same old sales pitch.

This kind of salesperson knows all the answers and few features and benefits later they will ask for the business. After hearing few “No’s” from customer they may give up and leave the office with the promise of a follow up a few days later. Unfortunately, the down side is that the customer will probably never return their calls.

Big number of sales people doesn’t take the time to have a conversation with their customers, because they assume that every other customer is like all the others. You will discover that your previous assumptions in sales were fatal many times. Keep those times in the past. It was necessary for you to learn a lesson every salesperson needs to learn, and now is the time to grow and develop your skills and knowledge. You will do so in developing your knowledge about trigger events. It is time to replace assumptions with research.

When you start learning how to recognize trigger events, rather than trying to assume or guess at them, will not only enhance your professional sales career and knowledge, but will increase your sales savvy to what the customer needs.

It is mind-boggling to receive a sales telephone call and the caller spits out a menu of mechanical words. The customer isn’t even, it seems, invited to be part of the conversation. It’s all about the need of the seller. Now when you contact your customers with information collected from recognized trigger events, you will have right questions to ask them, and all you need to do is listen to their answers and reshape your presentation accordingly.

Start with understanding customer’s actual situation and have their needs on your mind, but also find the way to put them on the market by making them realize their yet uncovered needs.

I hope you realize how often you barked up the wrong tree in your prospecting activities, talking to companies without the real need, following up and leaving numerous messages to someone who doesn’t see the value in your product. It is time to move on. Of course, at one time when we were starting sales, we all may have wasted our time that way, calling people from the long list of unqualified prospects we got from our manager, simply because they were in our territory or vertical market.

Now you will have a very powerful tool to change your approach to selling.

You have to understand the positioning of the company, what are they needs, does not matter if they are hidden or visible to public eye.

You need to do this ahead of the first contact as part of your trigger events research. You have to know the customer’s situation better than perhaps they know it, because at the time of presentation of your product, you will have their needs on your mind and prepare your sales presentation accordingly to information you hold.

Think value. Give to the customer what they ask for; give them what they need and more, drive the conversation to the customer’s wants and needs.
Impress them with the depth of your understanding of their position on the market and recent events that can trigger buying process, and they will sign on dotted line.

Very often you can hear how selling is a form of art, how sales people need to be creative and use their imagination, but I am not agreeing with that – sales is more science than anything. Yes you can use imagination and creativity, but after using tools available to you. With the proper tools and techniques you’ll replace guesswork with success.

Even if your company does not have automated system to generate new leads for you, when you learn more about trigger events, you will be able to find your next customer by your own. This will send the message to your manager that you care about your job and you really want to develop your career further, without waiting for someone.

Becoming best in team is an achievable goal and your self-confidence is growing as you establish a competitive advantage towards your colleges and towards your competition.

You don’t need to use old sales excuses anymore, like “territory is too small”, “need more training”, “inadequate sales tools”, “marketing provides no leads”, “we are over priced” etc.

Numbers of sales people who lose their jobs or miss their quota each year are not really important to you anymore, because you are more confident that you know what you doing in your sales role and all thanks to getting new customers from trigger events.

Now you are becoming a real Sales Professional. And it is a good feeling having control over your sales career, isn’t it?

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Get the book Trigger Events today and start selling to new customers tomorrow!

Hit or miss doesn’t work in selling is a post from: The Science and Art of Selling by Alen Mayer

If you want to connect better with your prospects, nobody will get jealous about this (unless it’s one of your colleagues who has had enough of being beaten to the finishing line by your superb closing skills). However, when in pursuit of a variety of personal prospects, they can be quick to become jealous at the very thought of you sharing your attention with someone else. With your client, there is no better way to connect than to listen carefully to what he has to say. Your girlfriend might tell you the same thing about your relationship – but she doesn’t understand that there’s no commission in the deal for you. Hence your sluggish approach to having your ear bent at her every whim!

Active listening means you will listen patiently and actively pay attention to what the client has to say. Try to understand the feeling that your client is expressing as well as the intellectual content of the conversation. Encourage your client to talk, and then listen, not only for what IS said, but for what IS NOT said. It’s wise not to become emotionally involved in the conversation yourself. It is your task to understand first and to defer evaluation until later.

Your girlfriend, on the other hand may always encourage you to get more emotionally involved in the conversation, but she’ll also want you to understand that it is your task – no, your DUTY – to understand first and to defer judgment until later. In fact, she may well ask you to forget all about the judgment part and to simply keep your opinions to yourself. At least with your clients you can become an expert at listening and absorbing the pertinent information and still earn a decent commission from it when you manage to close the deal successfully.

In short, you can get to understand a customer’s situation, his needs and his wants, by asking great questions. If you master the art of asking intelligent questions, the prospect will tell you what they want and how they want it – which spells out to you exactly how you need to sell the solution. Wouldn’t it be great if the same process and logic could be applied to personal relationships?!

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This is an excerpt from my latest book “Selling Is Better Than Sex”. If you want to learn how to ask the right sales questions to better qualify prospects, get the book today from Amazon.com, Barnes and Noble or Chapters-Indigo in Canada. If you want to get a signed copy, order it directly from me – www.SellingIsBetter.com

Asking Questions – Active Listening is a post from: The Science and Art of Selling by Alen Mayer

Action Step

You need to be in control of the conversation when it comes to selling. This way you will know when it’s the right time to ask for the order. But you can’t ask for the order until you have educated your client sufficiently about the product and how he will benefit from buying it from you. You cannot sell him your product until you understand his business and his requirements. So, ask the right questions – and then LISTEN! Hear what he has to say and let this lead you into your next question. And then listen some more. Allow him to speak but always be in control over where the conversation is going. You cannot sell your product until you know who you’re selling it to – and why.

Ask questions to control the conversation is a post from: The Science and Art of Selling by Alen Mayer

“Results are the only things that count. We are perfectly willing to pay a salesperson $100,000 a year if they deliver the goods; we are willing to pay $750,000 a year if that person delivers, and a person’s earnings from $7500 a month up to almost anything is in their own hands.”

The heads of ninety-nine out of every hundred companies employing salespeople reflects that sentiment. Often the main limit to the salesperson’s earning power is a self-imposed one.

I am sure you know the question in the mind of the person starting out with a cell phone in one hand and an expense check in the other is: “How can I sell?”

The question in the mind of the salesperson producing now is: “How can I increase my sales?”

Understand in advance, please, that we offer no theories. The source of the methods offered herein derives from the operation of thousands of successful salespeople in varied lines the country over.

These people are working more than the average salesperson because they are better than the average. And here is what they have found produce real results.

Are You an Order Taker or an Order Maker?

Let’s take a look at the order-taker, not as a negative example, and not as an object of pity, but only to make a point.
Chris the “order-taker” visits on Smith, Brown, Jones, James, and Robinson. They are not in the market. Then she opens her portfolio in Harrison’s store and Harrison buys.

Mind you, she didn’t sell anything. Harrison was ready; the order taker had the goods, showed them and took the order. Why? Simply because the prospect was in the market, ready to buy.

She encountered a favorable situation; she was standing directly under the apple with a bushel basket when it dropped from the tree. That is what makes it possible for the order-taker to exist. If the order-taker calls on enough people they are bound to find a certain percentage needing what is sold and ready to order.

Let’s leave the subject of order taking. Let’s deal with the problem of the person who really sells.

What is it? What’s the difference?
Simply this – the salesperson must create a specialized situation, and place people in the market who didn’t feel that way when they walked in the store. It has been said that sometimes a good salesperson sells to buyers who don’t think they want what they buy.

The reason why is this: the good salesperson makes the buyers realize they want what is being offered.

Let this sink in deeply. The order-taker canvasses looking for people who want to buy. However, the professional salesperson tries to make every person he or she calls on wants to buy.

The order-taker accepts the advantage of the situation he finds. But the order maker, a professional salesperson creates specialized situations to suit his purpose.

Now, the question you should ask yourself is:

Are You an Order Taker or an Order Maker?

Are You an Order Taker or an Order Maker? is a post from: The Science and Art of Selling by Alen Mayer