Peady’s Selling Engagement sponsored by IRD Prospector

 
Anyone in business will tell you there two primary ways to increase profit.

• Grow revenue or sales
• Cut or reduce costs

So why is it that many sales people feel that their potential customers are only ever considering number two – the cost cutting route? They focus their entire sales proposition around “we can save you money”.

Their Motivation?

How about spending a little time on uncovering the real motivation of your potential customers? For sure every smart business person wants the best price, but many times they also want the best value and ROI too. And that’s where it gets interesting!

Prior to your first meeting do some research – is the company in growth mode? How does the decision maker think – let’s expand or let’s reduce costs? Are they entrepreneurial or expense driven?

The answers to those couple of questions gives you a planning guide.

The Approach

Once you understand the ethos of the target company and the general mindset of the person you’ll meet you can tailor your approach accordingly.
Questions to ask an entrepreneur include:

• “Are you taking your company in the direction of better revenue or lower costs?”
•  “I would like your perception of what is important to you and your business”
•  “Are you looking for a way to promote your key differences to potential customers?
• “What are some of your future growth plans?”

Questions to ask those focussed on expenses:

• “Are you looking for ways to lessen the cost impact of improving enquiries?”
• “Is it important to increase the advertising exposure for the same price you are paying now?” 
• “How is the current approach affecting your bottom line?”
• “Would you be open to some ways to maximise your marketing while minimising the expense?”

A Final Thought

Many business owners are not only focussed on growth or expenses. Often they are also looking for ways to save time. Can you come up with questions or strategies to help there?
The language of business is universal. Learn the language because it can touch a nerve. If you can do that and it’s something that is important to them, that’s a recipe for your sales success!
 

About the author 

Stephen Pead is a media industry veteran of 30 years with significant experience in direct sales, sales management and general management. He is based in Sydney and specialises in helping SME’s market their businesses more effectively and providing training for salespeople and sales managers.
He can be contacted at [email protected]