If you have ever not made a sale, you wondered why. “What could I have done differently?” Or, “Why did they pick them?” My colleague, Allan Tsang (an international negotiation trainer), says ‘How can you lose what you never had?’ The first mistake we all make is, assuming a sale. It is a mindset that allows us to make mistakes.
Why did the prospect make another choice? A pollster did a survey asking prospects why they did not buy. They also asked the sales reps why they did not win. Salespeople said they lost for price and customer stupidity. Buyers, on the contrary said that they were concerned about the company or more simply- they did not like the sales representative! They never mentioned price!
Sales opportunities start to go south when sales reps forget a simple axiom. “We are all born with two ears and one mouth. Use them proportionally.” The eagerness to sell something overcomes our desire to solve a prospect’s problem or pain point. Then we talk about things that may not be at the heart of the prospect’s need.
To get at the real need, it is important to ask more, and better questions. Never assume you know what the prospect wants. And, when you think you know, make sure you confirm what you think the need is. All too often, despite the fact that you are sure, you will be corrected after you present your understanding. People buy when they feel heard, and trust you to deliver. Most of us want value.
If price is all that matters, we would all drive Yugos. They offer transportation. Yet, the Yugo never caught on. We want more from our car than transportation. Leading with price is never a winning strategy. There is always someone willing to undercut you. If you run into a prospect that truly only wants price, you may want to think about whether they are a good client for you. ‘Price people’ still want value and extras. And the ‘cheap’ customer will beat you up after the sale for what is missing.
Learn what the customer wants, satisfy them with a fair deal and you will have customers for life. I never sold anything. I just helped people buy.