Posts belonging to Category Business Practices



Closing Two Sales at Once

It is important to revisit this topic, as it is at the heart of what Black Sales Journal works to change.  Although it is just that an individual would have to pass muster like this, it is wrong that an individual would have to do so on the basis of color of their skin, gender, religious affiliation, age, or sexual orientation.  Fact is that it does happen.

However, you can win in this situation, and the facts below illustrate that.  Those Black sales professionals who have faced this know that they experience a  personal victory when they are successful and recognize the covenant we all share to be the best, thus slowly but surely changing perceptions.

I hope you will enjoy this redux of a very important post from early last year, I have been assured that hit is a good one by many of my readers.   I will be back with you on Monday.

______________________________________________

If you are a Black sales professional it is no secret that closing a sale is a calculated action; part of a process that we call the professional sales call.  There is no doubt that if you are in this group you will need to have a strong sense of when to close and the technique to close both sales.

Closing on Two Fronts

The close has to come on two separate fronts.

  • My company/product is the best for you and is an acceptable price to create the value and utility that your organization needs
  • Although potentially different because of my pigmentation, I am the best choice of sales professional to handle the needs of your organization now and in the future.

There will be those that may disagree that this happens.  Don’t be naïve, as it is common.  Note the examples below:

  • A young sales person has to make the sale that they are a viable option by showing that they can provide the knowledge and have access to the wisdom and experience which when coupled with the energy of youth can be the best option.  This is right and natural.
  • Several years ago women wrongly were forced to close the credibility sale by showing that they were able to prove personal credibility and dependability.  This was fundamentally wrong, and still is.

When I was a young sales professional, I found out that I had at least two items against me.  At a time when there were a much smaller number of sales professionals who were black, I was Black, and was a mere 22 years old.

I was selling in a commercial market (B2B) where there were few Blacks were experienced, and knowledge and experience were to be touted as an advantage.  I quickly learned that you had to find compensators for these “disadvantages” while at the same time I needed to keep doing the fundamental activities that give you a chance.

Learning how to close the sale and the personal/professional sales was one of those activities.

Closing the Product/Service Sale

Knowing how to close the product sale can be scientific, yet still is an art.  Recognition that the close is not always designed to get an order but can systematically be used to determine what objections are out there is important.

There are numerous books out there on closing and having read some, they all have something to add on closing techniques and styles as well as when to close.  I am not going to cover them here, yet will in a future post suggest some books and blogs on closing that you might want to consider.

The main purpose of this post is to discuss the sale that you must make even if your product/service is the best one out there.

Closing the Personal/Professional Sale

This sale is less defined.  Much of this sale is actually done as a prequalification. This is a set of activities that you undertake from the beginning of the relationship.  This set of activities is different for each customer/prospect, as each one comes with a different set of perceptions and preferences.

It is during this calculated process that you get a customer/prospect comfortable, confident, and willing to do business with you.  Is this different than with any other sales professional?  They answer is probably yes.  It is different because in many cases you are altering perceptions, and attempting to change preferences.  A big order, yet something that can be accomplished.

Female Black sales professionals who sell know this more than any other segment.  It is better than it used to be, yet still difficult.  They are challenged to hurdles.

Here are some of the items that you are trying to sell in the Personal Sale:

  • Professionalism
  • Responsiveness
  • Credibility
  • Expertise/Specialty
  • Personal Accomplishment
  • Effectiveness
  • Vision

Your customer/prospect will recognize that if you have these traits and one more, the customer’s organizations interest in mind, you have everything you need to have value for his/her organization.

Many of the items above are linked to the Black Sales Journal Article that defines them in depth.  Please take a look at them to get a fairly in depth look what these attributes entail.

Make It Work!

Now back to the issue of prequalification. This is the process of gaining the necessary credibility to make the personal sale.  It is giving the necessary information to the client in “bite sized” portions so that it can be digested and absorbed.

You will prequalify by activities such as sending your customer/prospect your newsletter regarding his businesses industry, referring him to your customers who are next door (who he knows) to get an idea of your expertise, and share with him your ideas about how companies with your profile can get benefit in the future from you product/service.

In Summary

You can correctly position a sale of a product and prepare a close, yet if you are wise, you will realize that perceptions and preferences can be overcome, yet not in a one hour meeting. Prequalifying can have success by getting agreement and clarifcation on many of the issues that would be in question at the final sales call.

These items include providing references to give confidence (professionalism, responsiveness, expertise, etc.), making suggestions for changes and visions of the future (vision, expertise, effectiveness, etc.), and developing the deep relationship that lets all of this gel together.

Don’t miss the opportunity to feed it slowly to your customer early on.  If you give references, suggestions, and expertise information all at the end, when you present your proposal, you have missed an opportunity.  It is too late.

Close both sales and get the order.  Good selling.

Your comments are welcome.

While Negotiating, Silence is Your Secret Weapon

Doing the Deal

Your prospective customer calls you to meet tin order to discuss your product and whether your organizations can do business.  She sounds excited and you sense that this might be the precursor to a good sale.

After you arrive, after some warm-up, you get to the gist of the negotiations.  She wants better payment terms and this is a big issue.  You have been instructed that your organization is ‘losing’ on payment terms, obviously not collecting soon enough, and you know your bounds.

The negotiations go like this:

Customer: “This could be a deal breaker.”

You: “We can offer four (6) equal monthly payments with a 25% deposit.”

Customer: “We would like twelve (8) equal monthly payments with a 10% deposit.” She continues, “If we don’t get that, we may have to consider remaining with our current vendor.”

You: “I think we can get some movement here.  I spoke to my people, and we can reduce our deposit to 15%, but our installments will remain at 6 equal.”

Customer: (Twists her face and does not respond)

You: “We are a good fit for you.  I will see if there is any way that we can move to the longer term.”  After a moment on the cell phone, you respond, “We have a deal! 15% deposit and 8 equal payments.”

You shake hands and head off into the sunset.  You should not be smiling, as you were thoroughly out negotiated!

_______________________________

One of the roles of a sales professional is that of negotiator.  It is not a role that you occupy all of the time, but one of tasks that must be done is to finalize, which includes pricing and terms.

Negotiating is a good thing as normally if there are negotiations, there is some acceptance of the product and the relationship.  The problem is most often when a customer goes silent, many in sales give up their bargaining range to get them to talk!  That is what happened in this situation.

Silence is Golden – For the Silent One!

We can learn something from this customer that is priceless:

Most sales professionals are uncomfortable with silence.

Those who are anxious to please, and needing a sale, often give up their negotiating room without ever getting a “no”.   They move to the customer’s position, or very close to it based on silence, or in this situation, silence and the customer’s expressions.

Now, as sales professionals like to talk, I stress that we need to pay respect to those who have learned that silence, by itself, crushes many sales negotiation strategies, and you don’t want it to happen to you.

The facial expression is an example of a ‘flinch’.  The flinch with, or without silence causes many sales professionals to begin to surrender their negotiation room.  A flinch can be a facial expression, upper body movement combined with a drastic facial expression, or even reaching for one’s chest or head ‘in amazement’.

Seemingly indicating that one is aghast (shocked and amazed) that the offer is so bad or lacking, has impact.  What it does is to move someone closer to giving up his or her margin.  Don’t be out negotiated.

I know what you are thinking, “It’s not my money!”  Well it is your money!  Closing the deal with the best terms is what you were hired for.  Be ethical and effective in doing it and there will always be a job for you.  Also, think of what happens when you, the sales professional, give up everything that you have to offer, then have to deal with the client next year.  They will be expecting your ‘cave-in’ again, and you may not have any room to ‘cave’.

Silence by Any Other Name…

It goes without saying in this electronic age that silence has many faces:

  • Not responding to a voice mail
  • Not responding to emails or written correspondence

Here is a real life example:

I once had a position that required that I purchase personal computers for a training operation.  We needed 12 computers and I negotiated for them and was not excited with the price.  It was not that the price was high; it was that the resources were short, so I went to “beg” my funding sources for more resources to get the products.

I indicated that we needed to consummate the deal by Friday, and because of an illness in the family I had not responded by the proceeding Thursday.  On Thursday afternoon, my assistant handed me a message from the rep cutting the price significantly.   About the same time, I received a call indicating that we had the additional funds to make the purchase.

The sales representative reduced the price without me ever saying ‘No’!  I wonder if his boss knows?

A Good Suggestion

I think the best suggestion that I could give you is to take a good negotiation course.  All sales professionals should take a good negotiation course that also focuses on the ethical nature of negotiating.  There are many out there, and they are worth their weight in gold.  No different than the customer, you should be prepared to use silence as one of the tools in your tool box as well.

Your non-work life will benefit as well as there are few tasks that have as much value making sure you get the right deal.

We will cover some more negotiation techniques here in this journal, yet a course is the way to go.  You will thank me for the suggestion, as there is nothing that will make you more effective and efficient after you have done the heavy lifting like cleanly and clearly negotiating the terms.

Be effective and efficient.

Your comments are appreciated.