Managing a customer’s objection to your proposal involves discovering the motive for the objection, plus determining if the objection can be overcome. If a customer is ready to do business but still has some concerns, these 4 steps can help you deal with the open issues and progress towards agreement with the customer. 1. Find a point of agreement. When a customer challenges you or your proposal (“Your price is high”), don’t counter or debate …
You probably recall a time when you failed to act quickly enough to take advantage of an opportunity. We tend to realize missed opportunities after the fact. Evaluating and responding to new opportunities is a key growth driver. Your team may be so consumed with the tasks at hand that they don’t recognize the potential of a new opportunity when it appears. 1. Recognize the opportunity. Not every opportunity is worthy of extra focus, so …
Most leaders know what is expected of them to get the job done – evaluating, planning, organizing, executing & managing. They also realize that leadership is primarily about influence, not power. Leaders rely on others to accomplish the necessary work, so why do your people choose to follow you? Most leaders recognize the need to earn their team’s respect. Just because you have been anointed as leader doesn’t ensure that people will choose to follow …
During the recent World Cup event, one of the best players was asked why he was so successful and he replied, “I never go to where the ball is – I always move to where the ball is going to be.” When you propose solutions to meet a customer’s needs, aim for where they want to go. When you are developing solutions to solve a customer’s problem or meet a stated need, think first about …
Conversations with new prospects initially focus on what you have to offer. Their first priority is to learn if your business is credible and can fulfill their requirements. What happens next determines if you will gain preference versus your competitors. Once your business is validated as a potential supplier, you get to turn the dialogue towards “why” you are the best possible supplier. Prospects become customers once they discover “why” you seek their business – the right “why” response …
When we recently celebrated our national birthday, I happened to be in the UK. It was fascinating to celebrate our Independence Day with some family and friends who are citizens of Great Britain. The highlight for me was experiencing a reading of the Declaration of Independence as part of a 1776 reenactment in an American town receiving the momentous pronouncement of freedom. The opportunity to again hear the famous words made me realize how much the act of binding …
Does your investment in social media help you keep customers and find new ones? Do your social media initiatives drive customer loyalty and acquisition? A 2011 Gallup research study of more than 17,000 social media users discovered that company or brand sponsored social media initiatives “have very little impact on B-to-B customer decision making. Nor do they drive prospective customers to consider trying a brand or recommending a brand to others in their social network.” Most …
Tim was frustrated that his proposals were not being given fair consideration. “They just skip to the last page to check the price,” he complained. “What should I do differently?” Why does one proposal presentation earn customer commitment while another does not? Presenting a proposal is serious business. You typically get one shot to capture your customer’s attention and earn their agreement. 1. As Covey would say, begin with the end in mind. When customers recognize …
Business leaders for small and mid-size companies are always thinking about how to increase sales, improve profitability, boost productivity and better manage cash flow. But of all these challenges, which one consumes most of their time? Our work with owners and executives typically begins with an assessment of the current business circumstances. We learn about goals and strategies, what’s working and what’s not – but before long the focus of this dialogue becomes the people …
Recognizing the motivating factors that will influence the customer’s decision helps you determine their decision-making process and who will make the decision. The dynamics of your customer’s decision-making process involves several factors. Have you been discussing their needs and challenges with just one person or several? If you have been working with a customer’s team, who has been driving the discussion? To whom does the team defer? How well do the folks around the table get along? The decision-maker …