Keeping Sales Consistency

by Art Waskey | Apr 1, 2021 | Art of Sales Weekly

The goal

Satisfying customers is the goal right? Do so by keeping sales consistency!

You can classify salespeople into two general groups: hunters and gatherers. The hunter is a networker and skilled at finding and closing new business, but easily bored with customer detail. The gatherer is like a golden retriever, friendly and loyal and driven by the desire to keep the customer happy. A successful business needs both types of salespeople. Hunters do their best work on the outside, with face-to-face calling. Match them with your gatherers, who excel at inside sales and providing customer service. Both hunters and gathers should have the same goal and that is to ensure the consistency of a sale.

Make it consistent

Here are three issues to be aware of when working to ensure the consistency of each sales transaction.

1. Buyer’s remorse – In any new relationship there can be doubt about whether the right decision has been made. This is particularly true with a large sale or one that involves an urgent need. We have all woken up wondering if we made the right decision or if the urgent product will be delivered as expected. To avoid buyer’s remorse, review with your customer the logical reasons for the purchase. Point out the features and benefits of the product or service you have just agreed to.
2. Continued connection – An order does not complete a sale. Once the paper work is signed, introduce your customer to your inside service support team for any help he may need.
3. Consistency of service – Follow-through is important.  A rapid response thank-you email or text demonstrates your commitment. Have your sales and operation managers make a call or visit as well. Invite your customer to tour your company’s facilities so he can put names to faces.  These actions provide the customer with consistency of service.

Grow your business and sales consistency

The salesperson who provides and coordinates consistent service after an order is taken creates a satisfied customer base. This yields client retention and guarantees more business.

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Meeting Customer Needs

by Art Waskey | Mar 16, 2021 | Art of Sales Weekly

Selling is about helping others and meeting customer needs. A good sales person needs to be many things, including focused, organized, and gregarious. Most importantly, however, you must be mindful of meeting your customers’ needs. As a sales professional, you are in a position to help people buy solutions.

Your customer’s best interest

Here are four practical ways to sell with your customer’s best interest in mind.

1. Be professional – There’s a big difference between someone who sells and a sales professional.  The former pushes product. The latter focuses on identifying what is behind the customer’s need and matches that to a solution. The need can be driven by pain, or gain, or both. Pain is related to solving an immediate problem. Gain is centered on buying for value. While the two needs are sometimes interrelated, they are solved quite differently.
2. Act on a commitment – Deliver on the need. The best salespeople are effective, confident, and thoroughly familiar with their client’s business. They know how, when, where, and why to deliver the product and service purchased.
3. Provide continued support – The customer is looking for a salesperson who is both a counselor and a consultant. The best in class salesperson is a creative, strategic thinker who can anticipate the customer’s ongoing concerns, goals, and objectives.
4. Develop long-term loyalty –The formation of lasting customer relationships based on honesty, integrity, and trust reap the greatest rewards. James Duffy, author of More Than Account, says that 8% of sales people capture 80% of the sales. That 8% have strong customer relationships.

Care and commitment to meet customer needs

Today, a purchase can be made with the click of an online button, no sales person involved. Your best defense to this is building and sustaining good in-person customer relationships (see building-a-business-relationship). Buyers want to know the seller cares, especially in larger deals, and online platforms cannot provide that. Help meeting customer needs ensures that customer makes the best decision and receives the greatest return on their investment. This is the sales professional’s greatest tool.

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Guarding the Buyer’s Best Interest

by Art Waskey | Mar 10, 2021 | Art of Sales Weekly

My sales career has been in an industry that provides essential products. Sometimes those products can be in short supply, which makes customers vulnerable to pricing pressure. Salespeople may see product scarcity as an opportunity to maximize their margins at the customer’s expense. If you lose sight of your buyer’s best interest, however, it is likely to cost you in the long-term. I suggest that you carefully evaluate your position before taking advantage of a short supply situation.

Three common traps

Consider these three common selling traps and how they work against guarding your buyer’s best interest.

1. Inflating price — When a customer’s urgent need makes it impossible for them to negotiate, you can sell at an inflated price. However, once the crisis passes and your competitor’s pricing is significantly lower, your buyer will likely change suppliers. The lowest price is always the buyer’s goal.
2. Overstating capabilities — Leading a customer to believe that you can solve problems beyond your competency is never a good idea. Your buyer knows what he needs to get the job done.   Over promising a solution in order to make a sale never ends well. When you hear, “…but you promised,” you have overstepped your reach and will likely not see any more business.
3. Overselling the product — Are you pitching a product or service that is too sophisticated for the customer’s need?  If your client’s original equipment does a better job than the new product you deliver, there will be complaints. Selling technical capabilities that are beyond a customer’s particular need leads to buyer’s revenge sooner or later.

Buyer’s Best Interest

If you are interested in developing long-term sales relationships, always keep the buyer’s best interest in mind.  Most short-term deals made under the above circumstances lead to lack of buyer trust and future sales. I have seen these traps create great anxiety for sales professionals, and even job loss. Paraphrasing William Shakespeare: “Hell hath no fury like a buyer’s scorn.”

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Assurances Needed for Business Commitment

by Art Waskey | Mar 2, 2021 | Art of Sales Weekly

You are feeling comfortable with your prospect. During your recent 20 minute conversation, you’ve asked good questions and now know 5 important things about him (see this post about building a business relationship). Your potential client even shares some of the problems he is having with his current supplier. Still, you sense the client hesitating when it comes to making a business commitment. In World-Class-Selling, Roy Chitwood suggests that before a potential customer makes a business commitment, he needs five key assurances.

Before a Buyer Commits

Chitwood describes the areas that are central to gaining a customer’s trust in order to close a deal.

1. You – Once you’ve had the chance to get to know your prospect, it’s time to reciprocate. He needs to evaluate your integrity and measure your interest in serving his needs. He’ll assess how likely you are to be a valuable consultant and advisor, or even a close friend. The client also needs to learn how well you have studied his business. Are you capable of determining how your product or service fits his needs?
2. The company – A customer needs to have confidence in your company before making a commitment. Make sure your mission statement and good reputation are well known.
3. The product or service – The salesperson must demonstrate knowledge of his company’s product or service and how it meets the customer’s need. Can you show how you will solve the customer’s problem?
4. The cost – Customers want more than a good price. They want value and to know how soon the product will pay for itself. Remember, people want to buy: they don’t want to be sold.
5. Time to buy – If the prospect is satisfied with the above four areas, he then has to decide when is the best time to buy. No one wants to spend money before it is necessary. To get a business commitment, you need to provide assurance on why now is the right time to buy.

Keys to commitment

Think about it. Before you make a decision to buy don’t you look for these five assurances? The keys to a business commitment are universal. Use them to gain your prospect’s trust and signature on that proposal!

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Developing Strategic Partnerships

by Art Waskey | Feb 16, 2021 | Art of Sales Weekly

I recently interviewed a man who had been the VP of Sales for a national manufacturer. The company he represented sold through a network of businesses and he was well-versed in developing strategic partnerships with distributors. He saw his buyers falling into three distinct categories.

Three types of customers

1. Transactional – This type of customer is only concerned with price. Beware of the buyer focused solely on this — he will quickly switch to the supplier that offers a better deal.
2. Engaged — Gaining the trust of a client builds brand loyalty. A customer who is engaged is one with whom you have developed a two-way relationship. You respond to their needs in a timely and honest manner. Be vigilant about guarding that hard won position from other brands trying to tempt your client to switch suppliers with a better value proposition.
3. Embedded – An embedded relationship is one typified by mutual respect, long-term commitment, and a strategic partnership. This is a step above the engaged customer and the most ideal position from a sales perspective. Embedded customers are loyal.

Are you Developing Strategic Partnerships

The manufacturer’s long-term distributor relationships were all developed as strategic partnerships in which both parties shared business plans and problems. As VP of an independent distributor for 35 years, I agree. I met with my vendor managers regularly to create game plans that helped us sell their products. It is important to have close contact with your clients. If one of your vendors loses its footing and its brand loyalty deteriorates, it opens a door for your competition to walk in.

Your Value Proposition

It is important to consider these three customer relationships and how they play with your customer base. Are your current customer liaisons transitional, engaged, or embedded? Can they withstand disruption?  Work on your value proposition to ensure you develop strategic and lasting partnerships.

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Winning New Business

by Art Waskey | Jan 25, 2021 | Art of Sales Weekly

Unseating the Competition

Customers get comfortable with their existing suppliers and this makes it difficult to unseat the competition and win new business. I recently visited an account with a rep who saw flagrant safety protocols being breached by the business’ current supplier. As a producer of scientific glassware, this account required a large number of high-pressure hydrogen cylinders and their supplier had lax material handling procedures for this explosive gas. In addition, we identified that the company was not being provided the most efficient mode of supply. When we tried to win this account on the promise of safer and better service, the owner’s response was, “We have been doing it this way for years and have never had an issue.” Unfortunately it took an accident that led to both the competitor and customer being issued safety violations, to change his mind.

Response Modes

The above case illustrates how difficult it can be to overcome a client’s negative response to a sales proposal. In their book, The New Strategic Selling, Robert Miller and Stephen Heilman, address this issue and suggest that each Buying Influencer at an account will have one of four response modes to a proposal. They advise paying careful attention to these factors:

1. Overconfident – Many customers have Buying Influencers who are overconfident with their current supplier. The Ultimate Decision-Maker in the above account was too comfortable with his method of supply.
2. Growth – The glassmaker was growing and the User Buying Influencer agreed with us that they needed to move from cylinders to bulk supply of hydrogen. He was tired of the time it took his team to stop and exchange the manifolds of cylinders, but his voice fell on deaf ears.
3. Trouble – The Technical Buying Influencer, an engineer, recognized the cost savings of going to bulk supply as well as the trouble with existing safety protocols, but he didn’t want to “rock the boat” with the owner.
4. Even Keel – We discussed the cost savings of our proposal with the corporate controller, the Economic Buying Influencer, but he couldn’t be convinced. He liked to keep things on an even keel.

Spend More Time with Buying Influencers

You don’t have to let an accident be the factor that changes a customer’s mind. Take time to review your top prospects and key accounts. For each company, examine the response of each influencer to your proposal and make a coordinated effort to get them all on board. These are the people who are critical to supporting your proposal and enabling you to win new business.

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What’s in Your Funnel?

by Art Waskey | Jan 18, 2021 | Art of Sales Weekly

The tactical presentation

Selling involves strategy and the driver of any good tactical plan is a robust sales funnel. For a sales presentation to succeed, you need to be in the right place, with the right person, at the right time.

All this requires good data on your sales prospects. Why? Consider your odds at winning any sales deal. In an article by James Duffy, author of More Than Account, he explains that 8% of sales people capture 80% of the sales, and that 80% of their prospects buy after being asked for the fifth time. In other words to be among the top 8% of individuals who close most accounts, you need persistence, dedication, and a really good sales funnel. Your most precious commodity — selling time — is maximized if you have good data on your prospects.  

A sales funnel

What should be in your sales funnel? Start with a list of your top 10 prospects and key account penetration opportunities. For each of these accounts, record the following information:

• Quantity —Quantify the product or service you are selling in either dollars or volumes. Be specific. For example, you are proposing 100 computers per month, or a $200,000 automated system.
• Next step – What needs to be done on the next call to move the decision forward? Do you plan to bring a specialist to demonstrate the product or service to prove the cost savings, for instance?
• Timing – When do you expect to accomplish the next step?
• End date – What is your estimated date for the completion of the sale?

Prioritize and Review

Your sales funnel should be prioritized, reviewed weekly, and discussed with a sales manager monthly. Operate with the adage, “If it isn’t measured and reviewed consistently, it won’t happen.” A good funnel allows you to see each sale in motion and gives you the confidence today that will ensure a closure tomorrow.

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The Importance of Aspirations and Finding Talent

by Art Waskey | Jan 12, 2021 | Art of Sales Weekly

Finding Talent

I remember a young man I met 30 years ago. This man had aspirations that I could have easily dismissed, given his background. However, I always tended to look at the dreams of others in a positive way. With an eye toward finding talent within and helping individuals use them to attain success.   

Moreover, a book I recently read, Multipliers by Liz Wiseman, reinforced my belief in how important it is to concentrate on each person’s aspirations to maximize their potential.  Wiseman discusses how to “release the impossible” in each of us by looking for capabilities and encouraging their development.

Be a talent magnet

Wiseman suggests “Four Practices of the Talent Magnet.” Here are some examples of how I applied them to the young man I met 30 years ago.

1. Looking for talent – “Tap into someone’s native genius and unlock the hidden reserves of discretionary effort.” The young man above made some big mistakes and was in federal prison when I met him. I saw someone who was determined to learn from their mistakes. By getting an education, and helping others, they wouldn’t end up in a similar situation to his.
2. Find native genius – “What people do easily, they do without conscious effort.” As I spent time with this individual. I found he had tremendous enthusiasm and an unlimited natural flow of energy. I gave him books to read and he devoured them!
3. Utilize potential – “Connect people with opportunities.” After finishing his time in prison, I hired this man in a customer service position. He excelled and was promoted. I encouraged him to attend college and served as his reference and advisor.
4. Remove blockers – “Provide both the space and resources to yield growth. Get out of their way.” My friend explored career options with more significant challenges and earning potential. He excelled in both his education (he earned a graduate degree), and in his new career.

A successful leader

Lastly, thirty years ago I would not have called myself a “talent magnet,” but today I recognize how I have always acted as one. It has been my privilege to hear the dreams and aspirations of many young people and guide them as they “release the impossible.” A successful leader recognizes the importance of each individual’s aspirations. And the need to find the talents within that enables them to be realized.

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What’s Your Sales Strategy?

by Sean Newman | Jan 5, 2021 | Art of Sales Weekly

Selling Involves Strategy

Like a good game of chess, selling involves strategy and paying careful attention to all the moving pieces.  I worked with a welding and gases distributor’s rep who was promoted from inside to outside sales and then was part of a company reorganization that put him in newly assigned territories, which included 10 well-established accounts. While these events were all positive, they were game changers. He sought my guidance on how to develop a sound sales strategy to deal with his new circumstances.

Maintaining Existing Customers

Here is my recommended 4-step strategy for maintaining and growing established accounts:

1. Assess – Talk to the previous account manager to analyze your current position. Find out what his specific sales objectives were. Was he in a purely maintenance mode or aggressively selling? How often did he touch base with the plant supervisor and engineering team? In each account, identify the decision makers who approve deals, the purchasing agents who clear requests, and anyone else who influences buying decisions.
2. Plan – Carefully consider the tactical sales plan that is in place when you take over an account. A transition to a new rep is a good time to consider alternative positions. Find out what may have changed in the account. For example, the rep in this scenario learned that one of his major accounts had brought in a manufacturer’s rep and an in-house company specialist to look for improvements in the production processes. These people would influence future purchases and needed to become part of his tactical plan to keep the account viable.
3. Devise – Once you have determined what alternative position(s) would best secure your objective, you need to devise an action plan.  In the example above, after examining the client’s current fabrication assumptions with the company’s team through a series of intense questions, a few significant efficiencies were discovered that led to a new sales plan.
4. Implement – The cost savings of the new plan were dollarized by the rep and presented to the customer’s decision-making team. After completing their internal engineering analysis, the company approved the rep’s action plan and it was implemented.

Knowledge Is Power

The newly minted outside sales account manager in the above scenario successfully used these 4-steps to continually reassess and refine his sales tactics. Knowledge is power and the basis of any good sales strategy. Today, you only win in sales if you know what you and your customers are looking for.

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