In today’s Covid environment, it can be difficult to not only see people face to face, but also to contact those who are working remotely.
The result for most salespeople? They believe they must “bend over backwards” and do whatever the prospect wants! They have a “belief” that this opportunity may never happen again.
So, what are the “tendencies and TRAPS they give in to?
- NOT having a quality discussion first to learn, ask questions and engage the prospect.
- Instead…they go right in to a “pitch.” (They propose ‘solutions” when there is no compelling reason for the prospect to change, buy, or order their product. They have NOT qualified the prospect or opportunity.)
- The “pitch” ends with something like: “So, what do you think? Can I get you a quote?”
- They take the “easy approach” & give a price/quote, thinking that if it’s a “good price” they will (maybe) get an order…in these TOUGH TIMES! Little do they know—this quoting and not following a sales process or having an in-depth conversation about the prospects “ability to pay or invest” MAKES REAL SELLING MORE DIFFICULT!
THE MAJOR ISSUE: They do not want to have an in-depth conversation about: the prospects funding; ability to pay; justifying an ROI; or selling any type of Differentiated Value. They just send out a price…and HOPE it “sells.” In essence, they offer price or a discount, AS A STARTING POINT!
THIS IS NOT SELLING! THIS IS “CLERKING!”
You get the picture!
FACT: Almost half of all salespeople are afraid to have this discussion and sabotage their opportunities
Nearly half (46% to be exact) of all salespeople are uncomfortable discussing money. This can either be the amount of money or just flat out being uncomfortable talking about money. There are many reasons for this, including poor sales skills, poor training, not knowing how to sell value; or “beliefs” …that the product(s) are not worth it.
PLUS…one possible psychological deep-seated issue from their childhood: many people were raised that it’s “not good or polite to talk about money”.
Why is this so critical?
If this discussion is skipped or not handled correctly – deals will stall, be lost to competitors, or you will see margins erode (it’s easier for your salesperson to ask you to drop your price than to hold the price firm with the prospect). Additionally, your company will participate in the creation of quotes/proposals that it not should be wasting time, money, or human capital on (just because the prospect says “I want a quote” doesn’t mean “give them a quote”).
Here are some of the signs that your salesperson is uncomfortable talking about money:
1.The prospect says “it’s budgeted” but nothing more. (The salesperson believes, they can & will buy.)
What didn’t the salesperson ask about, discuss, or question? Is the budget approved and are the funds set aside? (The salesperson does not know…so, let’s just quote & see what happens.)
- Your company’s quote/ proposal was “too high” of a price. The prospect was surprised by the price.
The Real Issue: Many (bad) salespeople do not discuss money so the first time the prospect sees any sort of price, is when they read the proposal!
- The Result: The prospect vanishes
- New competitors added “late in the game” & they acquire the business!
If your salespeople can only ask “Do you have a budget—or target price?” That is not having a conversation about money, funding or investing in a solution…although they will fool themselves (and sometimes their boss too) into believing that they DID have that conversation.
As the Owner, CEO or Sales Leader…it is critical to address and fix this huge “PROFIT DRAIN” especially in this current “remote selling” economy.
As you reflect on your salesforce, and realize you need to know WHO on your team has these weaknesses – and, you want to find out how to overcome & fix them – schedule an appointment with us to discuss how we can help by clicking this link.
STOP allowing your salespeople to automatically “commoditize” your offering, and have your Opportunities die in the process!