SALES CPR CORNER
YOUR FAILED SALES ARE ONLY “MOSTLY DEAD” NOT ALL DEAD!
REVIVE THEM NOW WITH CPR!
1. Entertainment Executive (D.K.) from Burbank California
They were spending an enormous amount of time having to continuously follow up with clients and prospects. Even after they received a verbal agreement it still didn’t close nor pay their initial deposits and move forward. There was a shift, prospects were waiting longer than usual to move forward. Time and resources were been wasted by having to follow up over and over and as a result, the prediction factor on future revenue and production schedules were completely out. They did have rare clients who told them they wanted to lock in their projects within 4 weeks and did so but we only had one of those this year so far.
2. Sales Executive (A.B.) from Minneapolis St. Paul Minnesota
They were having difficulty closing clients. Their clients wanted to delay, work out the payment over time or for whatever reason delayed finalizing the deal. They were spending an excessive amount of time trying to close them, which in turn started impacting their ability to provide the top-notch quality service their existing clients were used to.
SALES CLINIC DIAGNOSIS:
In both cases above the prospect and/or client was trying to delay committing. The prospect seemed closed but kept leaving the sales team in doubt as to whether they were truly closed.
FIRST HANDLE THE DOUBT ABOUT WHETHER OR NOT THEY ARE TRULY CLOSED: Get the client to commit to the purchase by creating urgency to move forward now!
The ways to do this are:
- URGENCY IS CREATED BY GIVING IMPORTANCE TO THE VALUE OF YOUR PRODUCTS, SERVICES AND TIME: Make your time and services scarce. Your time, products and services are VERY valuable and truthfully you only have a few available time slots left and, several clients trying to book their projects with you. Use this truth to get the prospect to commit by signing a contract with at least a down-payment to secure you and your team for their project.
- Get the client to commit by having them sign a letter of intent.
In both cases, what you are doing is getting the prospect to commit by taking some action. No matter the outcome, this action will tell you that either they are truly closed or they are delaying because they are not fully closed. This will remove the doubt you have and free up your attention so you can fully close them or get onto the next client and next project.
Customize each contract or letter of intent to:
- Create urgency to commit. Don’t focus on discounts.
- Do focus it on the importance of the prospects’ project, goals or dreams. Not the discount.
- EXAMPLE: STATE THE FOLLOWING: This signed contract (or Letter of Intent) secures your project team and (details…) which is vital for your project success. Note: This last part ensures the prospect now understands the importance of completing the deal and getting his team secured (or whatever details of the deal are important to the client). This creates urgency to commit now!
- The two main factors the prospect will take into account are a) Features and Benefits (the reasons why the prospects should buy your product or service, including any applicable discount) and b) What are they going to LOSE if they do not sign the letter. The fear of loss that will secure the close OR uncover the withheld considerations stopping the close from occurring. Either way, you win and can move the sale forward.
Lisa Terrenzi, SELLability CEO and Founder