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How do your Prospects Feel about Buying from YOU?

Posted by Frank Belzer on Sun, Oct 09, 2011 @ 11:17 PM
  
  
  

If you have not read unthinking by Harry Beckwith yet then I suggest you do. I opened it as my flight from Boston to San Francisco was leaving the gate and I didn’t put it down for the entire flight. The book is about the way people make decisions and of course one of our biggest decisions often has to do with buying something.

Harry weaves a story at the outset related to Kobe Bryant and the way he is perceived by his fellow NBA players – I don’t want to spoil that for you but what I do want to share is what that experience tells us about the brain, we often take short cuts when making decisions. Imagine if as a sales person you were more aware, more in tune and more in sync with any mental short cut your prospect was taking. Don’t you feel that would be extremely valuable to you as a sales person? What about sales managers trying to help their people sell? And if you are a CEO or VP of Sales certainly you would love to know what mental short cuts your people are taking as they consider your vision and initiatives for the company.unthinking resized 600

The book shares one experience of a company that was trying to make a decision and after considering multiple vendors and options they couldn’t – so what did they do? They visited the choices and everyone was able to make a decision and the same decision. That’s great you think but what is more interesting is what they all said about their decision – “it just felt right!”

It did not come down to price, service, options, name, branding, presentations, materials or technology.

That’s it isn’t it? When people choose to buy from you or use your service they are basically getting to the point where they say it just felt right. Conversely when they decide to go in another direction they are basically saying “you didn’t feel right” or “the other guy felt more right”.

So what does this mean? How can you adjust?

We emphasize the importance of building relationships a lot. I have blogged a lot about what I see that many sales people are missing and how to improve the strength of these relationships. However reading unthinking helped me to appreciate that that is not enough. If we want to really get inside their short cut process we must understand how they feel.

“Mr. Prospect typically at this point you have met with a few providers, discussed a number of options and are trying to rank those options – do you mind me asking you how you feel at this point about the choices you have in front of you?”

We also have to ask more about the competitors – what did you like? How did you feel about? Are you comfortable with?

The goal is obviously to have any potential prospect feel most comfortable with us. To go back to their peers and say “it just feels right”. Most prospects or clients will then fit your offering into their needs. So shoot for improving the way they feel, be more observant of the signs and emotions expressed during your conversations and do not be scared to find out how they feel about you. Can your organization, can you execute that skill effectively?

 

franks_tips_for_inbound

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COMMENTS

Rick, you say that customers “want what they want” I would add; “and its our job to find out”! Actually It’s a business imperative!  
 
The lesson is; the better you know your customer; what they want and more importantly, why they want it, the easier and more predictable the sales process. Data gives us a greater capacity to act, make decisions, and allocate our time. The bottom line is that if the customer doesn't fit your value proposition it’s not worth your time.  
 
I know, easier said than done. How do you know if there's a fit? Ask specific, timely and thoughtful questions. The point of questioning is to twofold; the first is to build rapport and trust, and the second is to get good accurate information in order to determine fit.  
 
If your customers feel empathy from you and for you they will be more apt to share the real drivers (both the rational and emotional) of how they make decisions. Developing emotional intelligence, listening and asking good question is key.The take away is that healthy business relationships are predicated on the reciprocal exchange of value. Our job as sales people is to extrapolate what our customers value. Customers, wont share how they really “feel” unless they perceive we care and are going to use that information to take away their pain. I think this is what Frank is referring to in his post as the customer“feeling right” to proceed.  
 
I was an account executive for a national bank that wholesaled sub prime mortgage loans. This was during the housing boom and there was a lot of competition. On any given day there were at least 50 competitors that do what I did and usually at a point lower. I was able to differentiate myself by not selling rate. I asked a lot of questions; what pain do brokers feel most, which type brokers cared less about rate, and of these brokers what did they care most about? through these questions I developed a criteria of what the ideal broker looked like for me. When i met new brokers if they did fit the criteria i moved on. The result for me was that I was able to bring in and close more business than my competitors and anyone else at the bank. Most telling was my conversion ratio of loans submitted, to loans closed that was 3 times the national average. (my closing ratio was 92% and the national average was 33%)  
 
This happened not because I’m a superstar (although it would make a better story) but because i was able to allocate my time to closable business. Understanding how your customers “feels” is the cornerstone to relationship based, value driven selling. The outgrowth 
 

posted @ Tuesday, October 11, 2011 6:33 AM by jason


I was delighted to read this; such a nice compliment, Dave. I knew the book was great fun to write, so learning it was fun--and valuable--to read makes me smile. All the best to you, Harry B.

posted @ Tuesday, October 11, 2011 9:55 AM by harry beckwith


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