Sales Tools and Techniques

Counteracting the Price Question

You will often get a prospective customer argue over price. Here is a way of handling that objection.

  1. Ask the question – “Compared to what?”
  2. How much is that price?
  3. Express the DIFFERENCE
  4. Compare the benefit based on the difference

As an example, if arguing $125 for a competitor product vs $140 for yours, discuss the difference, which is $15

presentation wheel features and benefits

Presenting the Solution

Features are facts that can be proven. Needs are a solution that a customer is seeking. Benefits are when a Feature meets a Need.

1 Links to Features….

“One of the products…” “a Nice thing about…” “A unique feature of…” “An important component…” “The advantage…” “A service we provide…” “Our product is especially designed…” “You’ll be pleased to know…”

2 Links to Benefits…

“As a result…” “A great benefit to you…” “This will enhance…” “Therefore, this will eliminate…” “Which means to you…” “This will save…” “What this gives you…” “Consequently,…”

3 Link it back to Needs…

“Another element…” “You also mentioned…” “Another aspect…” “You also indicated…” “In addition…” More >

sales funnel

Selling and the Sales Funnel

With similar competitor products, the differentiator becomes your impact on the customer.

Selling is motivating customer commitment:

  • transferring knowledge / information
  • understanding the customer’s needs
  • convincing the customer that you have something they need
  • understanding your competition
  • standing out from the competition
  • talking to the right person

The Sales Funnel is a way to ensure you have understood the customer’s need. This will give you the clarity to understand whether the solution you have will meet this need, so you can progress to closing the sale.

The approach has 5 steps.

1. Motivator 2. Open Neutral Question (ONQ) 3. Open Leading Question (OLQ) 4. Closed Question (CQ) 5. Summary 6. More >

Handling an Objection

When you encounter an objection from a potential customer, do this:

  1. PAUSE
  2. “Tell me more…”
  3. Empty the customer Ask – “Is there anything else?”
  4. Lock the customer Ask – “If I were to …. would you …”
  5. Present a counter solution
  6. Confirm the details

The Rules for handling a sales objection are:

  • ASK THE QUESTION – “Do you have any problems with … Are there any issues we haven’t discussed?”

And remember,

  • Never take it personally
  • Listen and be interested
  • Don’t blame
  • Stay calm

Qualifying Checklist

This simple 10 point check-list will help you determine whether all bases have been covered, so you have the maximum likelihood of closing the deal:

  1. Have all NEEDS been agreed with the customer (What are they? How did you agree them?)
  2. Do you have an effective SOLUTION? (What is it?)
  3. Is your solution financially JUSTIFIABLE? (How do you know?)
  4. Is the expenditure in the BUDGET? Is FINANCE available? (How do you know? How much is it?)
  5. What is their BASIS OF DECISION? (What are their evaluation criteria?)
  6. What is their DECISION MAKING PROCESS? (Who are the players? How do you know what roles they are playing?)
  7. Do More >