“You miss 100 percent of the shots you don’t take.”
Over the years in financial technology sales, I have noticed couple of common behaviors that are usually both unhelpful and common for sales people. It is good to know how to deal with these so that one can grow its business. Look at the list that I worked out.
This is by far the most common reason why people don’t ask for the business. I don’t know many people who enjoy being rejected, and salespeople are no different.
It is important to understand that a “no” is not a slam against you personally. It simply means your prospect or customer does not need or want your service. It doesn’t mean they dislike you as a person—unless, of course, you were pushy, rude, or arrogant.
Some people, especially individuals who are relatively new to sales, simply don’t know how to ask for the sale. I remember my first sales call more than 5 years ago.
I had gone through my presentation, and my prospect appeared interested. But I didn’t know what to say after, so we sat there in silence for a few moments until I finally blurted out, “So, would you like to go with it then?” She said, “Sure.”
The key is to develop a variety of questions that you are comfortable asking.
Some salespeople don’t know when to ask a prospect for their business, so they wait—often waiting too long, and thus miss the opportunity. You don’t want to ask too early, but you can’t afford to wait too long either.
One way to handle this is to build it into your sales presentation. Take the guesswork out of the equation and figure out the best place to position the “close.” I generally position it after we have discussed my proposal or solution and addressed any questions my prospect may have.
I usually say something like, “What other questions or concerns do you have?” If they say they don’t have any, I reply with, “Should we book a date for the training now?”
Unless you use manipulative sales tactics, aggressive closing lines, or the wrong tone of voice, people will seldom think you are being pushy when you ask them to make a buying decision.
The key is to make sure you have done an effective job identifying a potential problem, presenting your solution in terms that make sense to your prospect, and addressing any potential concerns they may have. If you achieve that goal, you have earned the right to ask for the sale.
People in the sales training workshops I have attended have said, “I don’t like it when someone asks me for the sale, so I won’t do that to other people.”
I respect that position, but I think we need to eliminate our personal biases. The key is to identify the personal biases you have related to sales and selling and figure out how to get past them. My personal bias is that I abhor aggressive sales people. But I have learned you don’t need to be aggressive to ask for the sale.
Objections are a natural part of the sales process. The best way to deal with them is to anticipate them and address them in your sales presentation or proposal.
It is also important to realize that when someone expresses a real objection, it demonstrates an interest to buy. It is much better to hear an objection than to walk away from a potential buyer and have no idea why they didn’t buy.
I will be the first to admit that it does feel uncomfortable asking for the sale—at least at first. But that’s just like anything you attempt for the first time.
The key is to create a variety of lines, phrases, statements, and questions that you are comfortable using. Then practice them until they flow smoothly and comfortably from your mouth. Don’t dismiss the simplicity of this idea. Verbal rehearsal and practice is one of the most effective ways to remove any discomfort from a new sales approach, question, or response.
In today’s highly competitive world, you need to be proactive in asking for the sale. Otherwise, a more assertive competitor will capture the business you deserve. I guess that the most important thing that I have learned is to keep asking for business and not to take negative answers personally. By doing that constantly, you will be able to surely generate more business than many. Remember, the more you ask, the more you get. I will be glad to hear what can complete further this list. Let me know.
Boris Grozev is a seasoned fintech executive. Moreover, he is an entrepreneur by heart. Boris has helped number of businesses. To clarify, he has created and implemented business development and product enhancement strategies. In addition, his advisory work in emerging and frontier markets has resulted in culture and technology change. Above all, it has fostered innovation and lead to tangible results. He also invests in variety of asset classes and shares his experiences from the journey to financial independence. Boris’ leadership abilities, ambition naturally spread to others. He is a fast learner. His stamina, attitude and passion to succeed help to achieve common goals.