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The Competitive Edge Newsletter

Edition 38

Ten Ways to Accelerate the Buying Process

For some businesses - depending on their products or services - securing the sale is often a multi-step process. So here are some ideas, from Think Like Your Customer by Bill Stinnett, on how to keep that process moving forward...

Sell Higher. Get to the Decision-Maker. Don't get stuck selling to a middle manager who has to consult higher-ups. Middle managers are often more concerned with not being wrong than taking a risk. So go higher up and find the person who is motivated to get the buying process going.
Neutralise Competition. Help your customer come to the conclusion that other vendors can't deliver the quantity, quality or service they need. You don't have to 'bag out' the competition, just use your USP (unique selling proposition).
Make it Easy for the Customer. Your customer needs to clearly see how to move from point A to B to C with your help. Make it simple for them to understand the 'how' and 'when' of implementing your service or product and how it relates to their needs.
Keep Your Sales Opportunitities Moving. Schedule the next meeting or time to call. Otherwise, the process may stall or come to a complete halt.
Make the Most of Every Meeting or Call. Have a pre-call plan. Analyse what you are going to accomplish and check you have the information you need to go forward. Do a post-call review.
Influence the Scope of the Project. You don't want to sell too little, depending on what you are selling, as it might be six months to a year before they buy again. And you don't want to sell too much, because the buying decision can get bogged down or stopped altogether.
Mitigate the Perceived Risk of Moving Forward. Rather than fuelling the perceived risk of buying from a competitor, mitigate the perceived risk of buying from you. Risk, real or perceived, exists in every relationship.
Give Your Customers a Way Out. Any buyer is naturally more willing to take a risk if they can change their mind later. In fact, if we offer a satisfaction guarantee or some other way out, we could eliminate the perception of risk altogether.
Shoulder Some of the Risk Yourself. This will inspire your customer to move forward with you in the face of perceived risk. It also shows your customer that you have faith in your product.
Work Your Plan in Parrallel Instead of Serial. Determine how to accelerate the sale. Once your customer feels comfortable with your proposed process and your plan for helping them to get where they want to go, explore their interest in getting there sooner.

15 Most Persuasive Words

Whether you're speaking on the phone, writing a sales letter or meeting face-to-face with your prospect, there are certain persuasive words you can use to grab attention. Advertisers have been using these words for decades and they still work. They provoke emotions in their audience and persuade them to buy. Or at least to listen. These words are:

Discover - this generates interest, evokes a feeling of opportunity and suggests a better life.

Good - this is not a high powered word and that's the secret of its success. Good evokes security and stability. Consider...'as good as mother used to make' or 'it's good for you'.

Money - few people feel they have enough and everybody wants more of it.

Easy - most people want more simplicity in their lives. If your product can make something easier for would-be purchasers, they will be more likely to purchase.

Guaranteed - this takes the risk out or buying. If you haven't incorporated a guarantee into your selling process yet, please work with your business coach to do so.

Health - 'if you haven't got your health, you haven't got anything'. Many people see health as their most important asset. Consider also financial health and emotional health not just physical health.

Love - always a prime selling hook. See if you can use 'you'll love the way...' in your selling process.

New - if it's new it must be better. Unless you're trying to evoke nostalgia, if you have something new, let people know about it.

Proven - even though customers like to have something new, they also want reliability. If your product has been tested and proven to live up to it's claim, they will feel safer buying it.

Results - when we put forth our best efforts, we want to see results. We want to know exactly what we're getting for spending our money.

Safe - this closely parrallels health. We all value our lives and if a product is safe, or our assets are safe, we are much more trusting.

Save - a recent ad for Buick said it best, "Just because you've earned it doesn't mean you have to spend it." Saving money is almost as important as making money.

Own - implies possession. Talk about owning the product, rather than buying it (which implies spending).

Free - is still an instant attention grabber. People know they can't get something for nothing. Think about the perceived value you can give your customer by offering something for 'free'. Examples are extended warranty, after-sale service and two for the price of one.

Best - exerts a powerful pull to have it for ourselves. So if something about your product or service is the best, make sure you let your customers know.

(These ideas came from Kerry L. Johnson, author of Selling with NLP) Have a look for this book in your local bookstore.

______________________________Quote of the Month______________________________________________________

"The heart and soul of competing is knowing how to appeal to your customer."

Don Peterson, Ford Motor Co.

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