Seventy-eight percent of all sales people fail because they lack what skill? When asking that question to a group of sales people the answers are all over the board. Closing usually comes out as number one, objections are number two, after that it’s a toss up between making presentations, getting people’s attention, follow up and asking questions.
The reason 78% of all sales people fail, or fail to reach their sales objective is due to » (Read More)
In this economy it seems like everybody has become a skinflint!
Money is tight and a lot of people are worried. While there have always been skinflints out there, it seems like more of your previously free spending buyers have morphed into skinflints.
What can you do to your business marketing to get skinflints to buy and get your profits back on track in this economy?
Find out how to increase your profits in this economy >>
My Dad The Skinflint
I grew up with a dad who was always looking for ways to cut costs. He’d turn out the lights to save on electricity, often before the rest of us had left the room.
During the winter, he’d turn the heat down to 50 degrees at 9 p.m. and I learned to sleep under piles of blankets.
When gas first hit a dollar a gallon back in the late 1960s my Dad focused on getting the most miles he could out of a gallon of gas. He’d shift into fourth gear at 20 mph. Even before cars like the Prius ever existed he was getting over 30 miles per gallon.
Even when I take my Dad out for a meal, he stills asks for the cheapest beer they’ll serve. Last time I think the waiter must have gone into a storage room and dusted off a Pabst they’d had sitting around for years.
My Dad ascribed his money-saving ways to his Scottish heritage and now your customers are blaming their reluctance to buy on the economy.
What You Should Know
My Dad was a skinflint by nature. It wasn’t that we were perpetually broke or in dire straits. He saw saving money as a game and took great pride in seeing how little he could spend on electricity, heating oil, gas and even beer.
Did that mean he didn’t spend money or spend big on certain items?
Of course not. Over the years my Dad has spent large when he wanted a sailboat, antique furniture, or the latest Toyota Prius with all the bells and whistles.
What you should know is that even people who are skinflints by nature, are happy to spend money when they want something. And that’s just as true for people who are temporary skinflints due to economic worries.
Find out how to overcome your prospects reluctance to buy
Even in today’s recession-racked economy people are buying. Sales of BlackBerries, iPhones and other smart phones are up 25% in 2009. And even people on tight budgets are buying including job seekers.
They’re buying because the connectedness that smart phones provide has a high value for a growing number of people.
How To Get Skinflints To Buy
Are you getting more and more objections when you try and close the sale? Are more and more prospects telling you, price is the problem, it’s not the right time, they’ll need to think about it?
The one thing you need to know is that whenever your prospects seem to be waffling, appear to be morphing into skinflint mode, the problem 9 times out of 10 isn’t that they don’t need or want your product or service.
When prospects take on skinflint characteristics, what they’re telling you is they don’t understand the value of your product or service. And it’s rare that price is the issue either.
If my 90-year old Dad still drove, you couldn’t sell him a top rated Nissan Sentra or a Ford Focus for around $15,000. But you could sell him similar sized gas sipping Toyota Prius for $22,000. That’s $7,000 more!
The business marketing secret to getting your prospects to spend more
Your Buyers Are The Same
While I think of my Dad as unique, he’s just like your buyers in one way. He’ll spend money on things he wants and perceives have a high value to him.
If you want to generate more sales in this economy, use the same strategies that get skinflints to buy. Appeal to their wants and clarify the value in their terms. Do this and you could easily make this one of your most profitable years ever.
- Charlie
P.S. There is plenty of money to be made in this economy but it’s not going to fall into your lap. To get it you need to change the way you market your business and how you close the sale.
Find out what works to close more sales in this economy
P.P.S. Visualize more clients buying from you. Imagine more people chasing you, calling you and wanting to work with you.
Sound too good to be true?
All you need to do to make it a reality is take action and discover how to eliminate the obstacles to sales.
Discover what works to bring in more buyers and more profits
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You want to increase the flow of sales revenue, but you are stymied by prospects’ seemingly endless objections. Prospects say they’re not interested. They tell you your price is too high, or this isn’t the right time. You’ve heard all the objections.
What can you do to simplify selling and get rid of these once and for all?
Engineer Your Business Marketing
When I was seven one of my favorite ways to spend a hot summer day with my friends was playing a backyard game we called “waterworks”. We’d use a trowel to construct channels in the dirt, put the hose at one end and watch the water flow.
If we wanted the water to go straight, we’d remove rocks and debris to clear a path. We became sophisticated engineers, guiding water around corners and across short aqueducts. We felt like masters of the universe, directing the water where we wanted it to go. (You can bet my mother loved seeing us come into the house covered with mud at the end of the day.)
Plan your marketing to the same way and lead prospects to your products and services the way my friends and I engineered our waterworks; by making clear paths and removing obstacles. Channel your prospects’ attention and interests and you’ll eliminate their objections.
Below are the four most common objections and ways to eliminate them.
Lack of Interest
Prospects need to understand what you do before they can become interested in what you have to offer. It is that simple. If you’re marketing yourself as a lawyer, coach, accountant or fitness center, you’re not telling people why they should be interested. To capture their interest, explain the problems you solve from their
perspective.
Lack of Leads
You want people to email you, call you or go to your web site to buy your products and services. But first you have to motivate them to contact you so you can market to them. Once you have their attention, use your conversation, your emails and your web site to ask them what they want and need.
Lack of Credibility
You want prospects to see you as the expert; the person and the firm that has the products and services they can rely on. One of the biggest challenges to attracting new clients is gaining their trust and being seen as the essential expert. Use your articles, ezine, and web site to demonstrate your expertise. Use testimonials from clients to tell prospects about the results you and your products have achieved.
Pricing Objections
Whether it is a $25 subscription or a $50,000 consulting fee, prospects object to price when they don’t understand the value of the purchase. Establish a set of questions you can use to help prospects define what they want and what you are providing. When price is put in context, it becomes much less of an obstacle.
Still not converting as many prospects to clients as you’d like?
Use questions to find out more about what they want, and what their concerns are. Then address each of these objections up front and remove them as potential sales killers.
Think of your target market as a reservoir of water waiting to be tapped. If you eliminate the barriers between them and you, you could send a steady stream of new clients and customers your way. Now, don’t just imagine it, do it.
Start eliminating your prospects’ objections and create a clear path for them to become clients and customers. Help your prospects get what they want and you’ll be selling more products and services
to more clients.
- Charlie
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