Selling for Business – things to remember pls RT

This is the first of a series of extracts from Selling for Dummies, you can grab a copy on Amazon. Over the next few weeks you can read the excerpts and boost your sales. Remember, I can help you. Go and subscribe to my Business Booster eCourse right now and make a big difference to your business.

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Things to remember when selling

It is worth remembering that scarcity is a very strong buying incentive when purchasing as it denotes demand and exclusivity – both important decision influencers.

How much of an investment the product would be.

Be sure to phrase the price of the product in terms of an investment as opposed to a cost.

Also be prepared to reduce the total cost  to a monthly amount if your product is something that requires financing.

Many buyers and company decision makers will consider how much something will add to monthly overhead and how soon they can recover their investment and, of course, how great their ROI or Return On Investment (ROI) will be.

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Return on Investment is simply an equation comparing the amount paid and the amount possibly to be gained with the new product/service purchased. For example a new printing machine might cost £60 000 but allow a fresh section of work to be embraced and capitalised upon to the tune of over £220 000 annually. With a lifespan of 5 yrs the machine represents an excellent investment return. Very often ROI is a prime driver.

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What terms and financing are available.

If your company offers financing, consider it another product and know how it works as well as you know the product itself. Don’t risk losing a sale because you cannot answer the key questions on financial issues at the end of the presentation.

If you work for a manufacturer, whether there are distributors who may offer the product for less. If there are, know who these distributors are and what price they’re selling the product for.

Even companies with the most basic product training should cover these topics with new salespeople before sending them out to talk with customers. Unfortunately, however, some companies provide only the bare minimum of information, and you have to develop the rest on your own. If you do all of the preparation above you should be sitting pretty.

However, be prepared to encounter a potential client who will ask an odd question – something out of the ordinary that you can’t discern the answer to with your current knowledge. Never make up an answer!

Indeed, congratulate the client on asking such a thought-provoking question and assure the person that you’d be happy to find out the answer. You must then go and find the answer. Do it quickly before they consider the competition’s product over yours.

In cases such as this circumstance, you may have to do a lot of additional information gathering in the course of researching the answers to your customer’s’ questions and that’s okay, because you build your product knowledge and credibility with the prospect as you do so.

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