Common Sales Mistakes
I recently read an report from the savvy gang at Rain Today about common mistakes when selling professional services. It was enlightening, to say the least.
Three chart-topping mistakes are:
The stakes are high in the professional services sales and retention game. Rain Today surveyed B2B buyers and found that a cash-flow-stopping 52%, to as many as 72%, would consider switching suppliers. Yikes! 80% of buyers said they experienced at least one major problem during the sales cycle.
The obvious up side here is that with all these prospects ready to switch providers, if you handle the sales process better than your competition, you can bring a lot of new clients into the fold.
The trick is moving from the first point of contact to beginning the sales process. A lot of potential prospects are lost at the get go. When you first meet a prospect at, say, a business luncheon, do you offer anything compelling to keep the conversation going? Can you communicate an authentic and differentiating value proposition? Or, are you like most who answer the question, “So, what do you do?” with their job title or profession? Saying, “Oh, I’m a graphic designer,” or “I’m a financial advisor,” is a sure way for the next words out the prospect’s mouth to be, “Oh. Can you pass the salt?”
For example, let’s say you’re an accountant who focuses on small service businesses. Rather than just saying you’re an accountant, maybe you say, “I help small businesses pay less taxes, make sense of their finances and manage their money better.” That’s a bit more compelling than the former, now isn’t it? If the person who asked is a small business owner, you likely just got their attention.
Your value proposition is what you bring to the table that provides real value and benefits for your clients.
When you think about benefits, don’t confuse them with features. Think about what you’re really providing. In the accountant example above, the benefits for the client are saving money and keeping more of what they have. A feature might be a speedy new computer and state-of-the-art software that runs like a jack rabbit after downing a half dozen espressos. The benefit is fast turnaround time. At the core of that benefit is your client saving time, having less stress meeting their deadline and fewer woes from their boss.
Your benefits should focus on the core issues that hit home with people – creating comfort, safety, reducing worry or anxiety, making them look good to their bosses, etc.
Differentiation is simply what makes you different from the rest of the pack. It might be a unique service, process or methodology, industry specialty or specific experience. It takes some soul searching, but it’s all about what you can bring to the table that your competition either can’t or won’t.
WHile you're at it, don’t get caught in the me too marketing trap. “Me too” marketing is doing the same stuff and sending the same messages as your competitors. Zigging while the competition is zagging will help you stand out in the crowd. If you don’t differentiate yourself, everybody starts to look and sound the same from the prospect’s point-of-view. When ethat happens, typically the only way to compete is on price and that’s a lousy place to find yourself.
It’s important to note that the sales cycle (from first contact to closing a deal) for professional services can be months. Sometimes longer. It depends on many factors, not the least of which is price. If you’re selling a big ticket item the cycle can often be lengthy. Another big factor is how painful it will be for the prospect to change suppliers. In as much as they may want to change, if the process is too painful, they may want to stick with their less-than-stellar current supplier.
If the Fates are smiling upon you, you get past the opening, engage the prospect and get an appointment. Naturally, do as much preliminary research as you can before the meeting to gain an understanding the the prospect’s business, audience, competition or other criteria that fit your business offerings. Fire up your browser to see if there are obvious common problems that relate to the solutions you provide.
Since listening is one of the most reported sales mistakes, at the meeting, listen ... intently. When you do talk, ask open-ended questions. Those are questions that can’t be answered with a simply “yes,” or “no.” Sure, you’ll talk about your business, experience and such, but try to use “you” and your” more than you use, “I,” “me ,” and “my” (or their plural counterparts). Repeat key points back to the prospect to help ensure you’re getting things right. If you don't understand something, ask for clarification.
If you do these simple things, your much more likely to craft an on-target solution and a powerful proposal.
To learn more about common sales mistakes, download the Rain Today report. It’s an excellent and brief read.
Three chart-topping mistakes are:
- Not listening
- Not understanding the prospect’s needs
- Not crafting a compelling solution
The stakes are high in the professional services sales and retention game. Rain Today surveyed B2B buyers and found that a cash-flow-stopping 52%, to as many as 72%, would consider switching suppliers. Yikes! 80% of buyers said they experienced at least one major problem during the sales cycle.
The obvious up side here is that with all these prospects ready to switch providers, if you handle the sales process better than your competition, you can bring a lot of new clients into the fold.
The trick is moving from the first point of contact to beginning the sales process. A lot of potential prospects are lost at the get go. When you first meet a prospect at, say, a business luncheon, do you offer anything compelling to keep the conversation going? Can you communicate an authentic and differentiating value proposition? Or, are you like most who answer the question, “So, what do you do?” with their job title or profession? Saying, “Oh, I’m a graphic designer,” or “I’m a financial advisor,” is a sure way for the next words out the prospect’s mouth to be, “Oh. Can you pass the salt?”
For example, let’s say you’re an accountant who focuses on small service businesses. Rather than just saying you’re an accountant, maybe you say, “I help small businesses pay less taxes, make sense of their finances and manage their money better.” That’s a bit more compelling than the former, now isn’t it? If the person who asked is a small business owner, you likely just got their attention.
Your value proposition is what you bring to the table that provides real value and benefits for your clients.
When you think about benefits, don’t confuse them with features. Think about what you’re really providing. In the accountant example above, the benefits for the client are saving money and keeping more of what they have. A feature might be a speedy new computer and state-of-the-art software that runs like a jack rabbit after downing a half dozen espressos. The benefit is fast turnaround time. At the core of that benefit is your client saving time, having less stress meeting their deadline and fewer woes from their boss.
Your benefits should focus on the core issues that hit home with people – creating comfort, safety, reducing worry or anxiety, making them look good to their bosses, etc.
Differentiation is simply what makes you different from the rest of the pack. It might be a unique service, process or methodology, industry specialty or specific experience. It takes some soul searching, but it’s all about what you can bring to the table that your competition either can’t or won’t.
WHile you're at it, don’t get caught in the me too marketing trap. “Me too” marketing is doing the same stuff and sending the same messages as your competitors. Zigging while the competition is zagging will help you stand out in the crowd. If you don’t differentiate yourself, everybody starts to look and sound the same from the prospect’s point-of-view. When ethat happens, typically the only way to compete is on price and that’s a lousy place to find yourself.
It’s important to note that the sales cycle (from first contact to closing a deal) for professional services can be months. Sometimes longer. It depends on many factors, not the least of which is price. If you’re selling a big ticket item the cycle can often be lengthy. Another big factor is how painful it will be for the prospect to change suppliers. In as much as they may want to change, if the process is too painful, they may want to stick with their less-than-stellar current supplier.
If the Fates are smiling upon you, you get past the opening, engage the prospect and get an appointment. Naturally, do as much preliminary research as you can before the meeting to gain an understanding the the prospect’s business, audience, competition or other criteria that fit your business offerings. Fire up your browser to see if there are obvious common problems that relate to the solutions you provide.
Since listening is one of the most reported sales mistakes, at the meeting, listen ... intently. When you do talk, ask open-ended questions. Those are questions that can’t be answered with a simply “yes,” or “no.” Sure, you’ll talk about your business, experience and such, but try to use “you” and your” more than you use, “I,” “me ,” and “my” (or their plural counterparts). Repeat key points back to the prospect to help ensure you’re getting things right. If you don't understand something, ask for clarification.
If you do these simple things, your much more likely to craft an on-target solution and a powerful proposal.
To learn more about common sales mistakes, download the Rain Today report. It’s an excellent and brief read.
Labels: neil tortorella, professional services, rain today, Sales mistakes, selling
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