At Ease with Money in Selling - A Hidden Gemstone

Posted by Chris Mott on Mon, Jun 17, 2019 @ 15:06 PM

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Are you at ease when you must dig in and have a difficult conversation with a prospect about finances?  Whether they have the money, where it could come from, how they would get it, how much they could get, what it would take, who they must speak with, what they could reprioritize, and a host of other money related topics?

The table below shows the percentage of salespeople with strengths in a range of competencies based on whether they Comfortable Talking about Money or it's a weakness. As you can see, salespeople who are comfortable talking about money are much stronger in other competencies than salespeople who are not comfortable talking about money. The percentage(s) show how much stronger they are in that area.

Watch this short video to learn more about this hidden gem and its impact.

Check out my short video below to better understand this concept.

 

If you would like to improve your level of comfort talking about money, check out the Sales DNA Modifier. It will help you fix Money Discomfort and nine other Sales DNA challenges! 

Topics: better closing percentage, qualifying, selling value, sales productivity, comfort talking about money

Why Speed on Base Wins in Baseball and Sales

Posted by Chris Mott on Mon, Nov 05, 2018 @ 18:11 PM

 

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Dave Roberts' stolen base in game four of the 2004 American League Championship started the Red Sox historic comeback against the Yankees that resulted in them winning the 2004 World Series.

The mental battle between a runner and the pitcher (the runners who are threats to steal are often referred to as “Speed on the Bases” by broadcasters) perfectly describes what salespeople must accomplish to create a high-value relationship with a prospect. When the runner gets into the head of the pitcher, a base stealing opportunity is created. When you get your prospect to pay more attention to you than anyone else a sale becomes exponentially more likely. 

In OMG's Relationship Building competency, 65% of Elite, 58% of Strong and 55% of the Serviceable salespeople are strong compared to only 36% of the bottom 10%.

Over the last five weeks I have conducted seven sales and sales leadership intensives for about 150 sales professionals. A high percentage of them viewed relationship creation as creating rapport and finding common interests. Virtually all of the Account Managers saw their job as keeping people happy at all costs. As a result, they tend to posture themselves as vendors instead of advisors.

To create Speed-on-Bases (SOB) in sales you must take a different approach. It not about making people feel comfortable, it’s about creating equality, trust, value and intimacy. 

In OMG's Doesn't Need to be Liked Competency, part of Sales DNA, 54% of the top half of salespeople are strong compared to just 20% of the bottom half. 92% of the top 20% have this as a strength.

When we at Kurlan begin a sales development project, we generally conduct sales and sales management intensives. These are typically our first encounters with the entire team. These are cold groups and analogous to an early meeting with a prospect. The attendees can be skeptical, reluctant, uneasy, wary and in some cases on a mission to undermine our efforts. We are in the truest sense of the word just another vendor.

To achieve a positive outcome requires us to quickly develop Speed-on-Bases with the group and the individual members. 

SOB quality is comprised of Relationship, Honesty, Credibility, Value-Add and Posture. Salespeople tend to focus on the first element most frequently without intention.

Relationship is primarily about warming people up and creating rapport. Getting people to laugh, having some fun and being a little vulnerable. After all, we are all people trying to help each other. Honesty requires speaking the truth even when it’s uncomfortable, acknowledging the elephant in the room, “many of you are skeptical about me and what we are doing here”.

Credibility is using their language or speaking from the perspective of the audience in my case. With prospects you must know what it’s like to be them. How they think, what their day looks like, the politics of the organization, communication challenges and the problems they face including those that have nothing to do with you. 

Value-Add is by far the most important. It cannot be created without the first three SOB elements. In short you must challenge and poke holes in their thinking. Presenting, talking about solutions, features, benefits and your value proposition do not add value. They make you sounds like all the other ineffective salespeople they have met.

Finally, there’s Posturing. At its core, posturing is being the advisor instead of a salesperson, as the table below shows. 

Weak Posture

Strong Posture

Talking

Asking tough questions

I / We can help

I don’t know if you will be a good customer

I will do whatever it takes to win your business

I don’t need your business

Help me with how to sell to you

This Is how I do business

Tell me about the challenges you face

What is your part in these challenges?

If you are not comfortable sharing your budget that’s OK

I can’t help if you don’t trust me

What are you trying to fix?

What is the business driver?

Most salespeople are conditioned to accept the inequality prospects want when they buy. It’s considered OK for prospects to spin the truth, lie by omission, string salespeople along and cancel meetings without notice. Weaker salespeople accept this as the norm and don’t push back. From an objective, non-emotional perspective, this is crazy. Salespeople need to toughen up, stand their ground, stop seeking approval and stand up for the noble profession we all embody.

Want to learn more, click on image. evals.

Topics: advanced selling skills, sales advisors, differentiate our company, selling value, elite salespeople, differentiating yourself

Selling Value When Your Prospect is a Price Shopper

Posted by Chris Mott on Thu, Oct 01, 2015 @ 10:10 AM

Have you ever been in a scenario where you had to sell value, but your prospect was interested in nothing other than how low you could go? That might be an exciting proposition if you were trying to win a Limbo contest, but if you are trying to win the business and protect margin, you may have quite the challenge on your hands. In order to sell value to price shoppers, salespeople must be very highly skilled along with having supportive sales DNA and beliefs. Additionally, it will take lots of practice. Salespeople who tend to become emotional could lose objectivity and if they identify with buying based on price, they won't push back. If salespeople aren't comfortable having a financial discussion, they won't be effective at discussing the very issues that create value.

In this short video, I explore this challenge and sales management's response.

Is it important for you and your team to be more effective at handing price shoppers? Are you losing too many deals and wasting too much time? Get some quick feedback on your sales force and the other things that might be causing this.

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Topics: Sales Coaching, chris mott, selling value, price shoppers, improve win rates

Are Your Salespeople Really Selling Consultatively?

Posted by Chris Mott on Tue, Sep 29, 2015 @ 12:09 PM

Do you sell consultatively? Salespeople and sales leaders frequently think that they are, when in reality, they are either selling transactionally or applying solution selling. Does that statement bother you? Does it raise any questions? According to Objective Management Group and its data from evaluating and assessing close to a million salespeople, salespeople possess an average of only 48% of the attributes of a consultative seller. 

My video post today discusses this in some detail. Watch it and then go ask your saleseople to define consultative selling. You likely be frustrated by the answers.  

If you need to hire salespeople who have great consultative selling ability, read our whitepaper on sales selection.

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Topics: Consultative Selling, recruiting sales people, chris mott, hiring great salespeople, selling value

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