Complete with an invaluable appendix on handling customer complaints and new sample call dialogs, Selling to Anyone Ove the Phone simplifies an increasingly important facet of the sales role so you can get back to doing what you do best--providing excellent products and services to your customers and exceeding your sales goals. Managing Time and Information for Profitability.
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Asking HighValue Questions. Listening and Presenting. Selling Through Objections. Negotiating the Close. Using New Technology in Phone Sales. Tell a compelling, relatable story and use visuals to hold their attention while you illustrate the value of your solution.
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One underappreciated yet highly effective technique for phone sales is using interactive visuals. As mentioned earlier, there are clear benefits to using hand-drawn visuals over the typical PowerPoint presentation.
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And you can apply this concept to phone sales by getting your listener to participate in some way—whether by taking notes or by drawing a simple, concrete visual as directed. Corporate Visions research reveals that using this approach to interactive visual stories is vital to engaging your audience, increasing favorable attitudes toward your story, improving recall, and making prospects more likely to meet with you.
Be warned. Incorporating these storytelling techniques into your virtual sales calls is going to demand some behavior changes from salespeople. But after putting this technique into practice, they saw an immediate positive impact relative to their previous verbal-only approach. Use these four sales closing techniques to create urgency, drive consensus among stakeholders, and convince your buyers to take action now. Often the best way to do that is to talk about the people who were affected by the challenging environment they were working in.
Then talk about how their lives became better, easier, more fun, or less stressful after using your solution. Corporate Visions research found that executive decision-makers are just as swayed by emotionally charged factors as anybody else. In fact, executives are more than 70 percent more willing to make a risky business decision, such as leaving their current situation to try a risky alternative, if you frame their status quo in terms of what they stand to lose by not making a business change, versus what they stand to gain by following through with one.
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The study demonstrated the impact of Loss Aversion, a concept important to Prospect Theory. Pioneered by social psychologists Amos Tversky and Daniel Kahneman, Prospect Theory states that humans are times more likely to make a decision or take a risk to avoid a loss than to do the same to achieve a gain. Buyers today have all the power in sales negotiations. They know it, and so do salespeople.
According to our research , 72 percent of B2B salespeople report that buyers have grown more powerful over the last several years. The problem is, many salespeople unknowingly make concessions throughout the sales process—value leaks that make it more difficult to close the deal, which, in turn, makes it more difficult to protect your margins during late-stage negotiations. Value leaks happen as the buyer tries to gain consensus among other stakeholders in the organization. They flex their power and start making additional demands for your time, your resources, and of course, for discounts.
How do you protect your value?
When managing multi-party decisions, consider who in the organization knows about the decision, who cares about the decision, and start targeting those stakeholders in your conversations. When you address the business impact for each key decision-maker involved in the purchase, you can drive consensus faster. As deals get increasingly complex, late-stage negotiating tactics become increasingly irrelevant.
To help you do all this from a low-power position, consider the concept of Pivotal Agreements.
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The five types of Pivotal Agreements are value-based exchanges that you can use to advance your deals while protecting your value. The idea is to proactively decide what you need from the customer during the buying cycle to get the most positive final outcome. In other words, you capture the value and protect your margins by executing a series of Pivotal Agreements throughout the buying process, rather than one grand compromise at the end. Here are three research-backed sales techniques for selling to your existing customers. As the outsider, you want to frame their current situation as risky and unsafe and introduce your solution as a better, safer alternative.
Certain sales conversations with your customers require more finesse than others. Expansion conversations, for example, walk a thin line between persuading your customer to buy more and convincing them to stay with your solution in the process. If you succeed, you lay the groundwork for a long-lasting partnership.
But if you stumble, your partnership stagnates, your revenue plateaus, and your customer becomes vulnerable to getting picked off by competitors. Then, leverage that relationship to have a frank conversation about challenges and opportunities befitting a long-term partnership.
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Buyers are naturally more inclined to remain with their status quo than change to a new solution. Your customers are constantly being pitched by outside vendors who are eager to win their business. Learn the science behind an effective upsell message in our State of the Conversation Report, Why Evolve? Determining the Most Effective Upsell Message. In a perfect world, you would never need to apologize to your customers. But service failures are inevitable. And mishandling these pivotal moments can put your customer relationships, retention, and future revenue at risk. Apologizing to your customers the right way can not only recover the relationship but actually improve their loyalty going forward.
Using a concept called the Service Recovery Paradox as a foundation, our research found that a specific apology message framework improved the chances of your customer recommending your product and buying more from you after a service failure. Here are four classic go-to selling techniques that may, in fact, be hurting your sales.
Everyone knows how to sell benefits and not features, right? Well, no. Remember that up to 60 percent of pipeline deals are lost to the status quo. The problem is that personas are typically defined by who the prospect is — demographics and behaviors.