Application Article
45
Summer 2006
Earn the Right to Get the Highest Price
By Gerry Layo
What is it that you bring to the table that your
competition cannot or will not? What is it that
you offer that your prospects, customers, and
clients would be willing to stand in line and/or
pay a premium to have? What value do you
bring to the equation that creates a greater
perception of value for your product or service
and thus commands a higher price?
Would you buy from you at premium prices? If
the answer is yes….and I hope to high heavens
that it is….Why?
We are selling in a marketplace today that
demands more from sales professionals.
Communication tools such as cell phones, email,
and I/M are creating a level of expectation from
our customers that is getting harder and harder
to meet. The internet is leveling the playing field
as far as access to information. (Everyone can
Google you and your competition before you
walk in the door.). What does this mean for
salespeople? Buyers that have a higher degree of
sophistication (or at least a higher level of belief
of their sophistication) than ever before.
Historically, where there is mystery there is
margin and the internet has removed much of
the mystery about you, your company, your
products and services, along with your pricing.
If salespeople keep selling into the marketplace
the same way that they have in the past, they will
get passed up by SMART competitors and
passed over by SMART customers.
What can salespeople do to keep up? What can
salespeople do to get ahead?
What can
salespeople do to earn the top margins in our
ever changing and competitive marketplace?
This article offers a list of 15 things that you can
start to do today to stand out from the crowd,
differentiate yourself (and thus your product/
service), and command the respect and attention
of prospects, customers, and clients which can
gain you a higher price:
1. Start a strict
preparation.
regimen
of
pre-call
Do your homework before making that call on
any executive or decision maker. Google them,
research their industry, read their industry
magazines, learn about them and their company.
The things that you learn will help you build a
platform from which relevant questions and
conversation can begin. In order to have
something relevant to offer, have something
relevant to ask and something relevant to say!
2. Decision maker or decision influencer?
Clarify who it is that you are dealing with will
help you build the appropriate value proposition.
If you are developing a “champion” or a “flagbearer” in an account, make sure that the value
of your offer speaks to their needs. Typically,
the decision maker is motivated by, and thus will
act upon a much different set of criteria than
those you met on the way in—sell accordingly.
Never assume what a person’s motivation .
Always dig, probe, and listen before you
diagnose.
3. Make a few phone calls in advance.
I suggest calling anyone who may know anything
about an account before actually attending a
meeting to get a flavor for what you are about to
face. Knowledge is power—power can be
leverage. In addition, if there are to be several
people in the session, I suggest calling as many
of them as possible in advance to discover or
uncover any issues or expectations.
4. Speak the customer’s language.
Salespeople have a tendency to present value
propositions in a language that is filled with
industry words.
That may lead to a
Vol. 6, No. 3
46 Journal of Selling & Major Account Management
problem. The customer doesn’t always know
your industry like you do so a “disconnect” or
confusion can occur. I suggest that you record
your value propositions, presentations,
conversations, and questions as often as
possible. Get these recordings in the hands of
non-industry people and get their opinion. You
might be surprised that the reason you are not
closing enough sales is that the door to
understanding has never been opened due to a
language barrier.
for those who can and will say YES!
5. Read, learn, grow!
Commit to reading a book every month on how
to be a better sales professional. You will be
amazed at the new moves that you will adopt for
your sales success. In addition, read at least 2-3
business or industry magazines every
month. You will learn things that you did not
know. This can add to your confidence and, if
you figure out ways to use this knowledge to
differentiate yourself from the crowd (adding
value to your customers) it will help you attain
your quota and add to your commission or
bonus check!
Don’t let the “closing” part of your sales cycle be
a surprise to your customer. Don’t shy away
from it either. Your customer should know that
you are there to do business. In order to earn
their business, you will have to learn to ask in
such a way that it is less painful for both you and
the customer. Right now, sit down and write
five (5) closing questions that might help you
transition from the presentation and negotiation
phase to the action phase of the sales
cycle. When you have them written, ask them
each aloud 100 times until they become less
mysterious and thus, natural.
6. Be the quarterback of your sales efforts.
10. Talk Benefits rather than Features.
Someone has to call the plays. Make sure that
on every interaction with prospects, customers,
and clients you clearly define the purpose of the
call and stick to it. When the call purpose is met,
clearly identify the next steps as well as who is
responsible for what. You guide the timelines,
you run the plays, and you call the shots. The
result will be getting to yes faster. (as well as
getting to NO faster…see next item.)
The customer does not buy quality, service,
reliability, innovation, integration, knowledge,
experience, teamwork, or the other features that
you are tossing out there in an attempt to
differentiate your company. They only buy what
those things can do for them or help them do
what it is that they want to accomplish. The
sooner you start talking about what they GET
rather than what it does, the sooner you begin to
earn greater margin.
7. Ask for the “yes” once you’ve earned itbut don’t be afraid of the "no".
Get out on occasion driving your pipeline
business further along towards a yes knowing
that the result will most likely be a few fresh
"no’s". This is absolutely no a bad thing? Stop
wasting your time on those who can not or will
not buy from you. A full pipeline of "no’s" is
worse than no pipeline at all. The time you
invest on qualifying OUT the non-buyers will be
well spent once it’s re-invested in prospecting
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8. Get a coach or a mentor.
This sales game can be tough. If you have
someone to bounce ideas off and to strategize
with, you will have a leg up on the competition.
If you think you are good enough to fly solo,
think again! Even Tiger Woods has a coach or
two on his team.
9. Make the CLOSE a natural conclusion to
your professional sales process.
11. Ask them what will happen if they
don’t…..?
Attempt to attach a cost or a price to in-action
or status quo. When your prospects and
customers say they are “staying the course with
the way they currently do things” you need to
help them understand that continuing to do
what they are currently doing will only get them
more of what they are currently getting. If (and
this is a big if) you have attached a PAIN to their
Application Article
current situation (from their point of view), then
you can attach a FEAR of the future. Your
product or service at that point becomes the
cure to the PAIN and thus, a peace of mind to
the FEAR. By providing a solution not just a
product/service, it is worth more than what your
competitor is selling.
12. Don’t lie—PERIOD!
The word character is not used enough in
professional sales and it should be. This world
of the internet has opened all of our kimonos so
there are very few secrets anymore. Often your
customer will ask a question that they know the
answer to just to qualify your character. You
must succeed the 1st time they ask because you
won’t get a second shot. (Remember, they are
more aware of their options today) Customers
pay more for character and trust—count on it!
13. Quid-Pro-Quo
This Latin term that means “something for
something” or “this for that” and it should be
paid close attention to in your dealing with
customers. It works both ways. If you are
looking for forward movement in the sales cycle
or an introduction to others to help you get it,
practice quid pro quo from your end first. That
means give to get. Give a referral, to get
movement. Give an introduction to a lead; get
an introduction further into the customer’s circle
of influence. Add value first; if you want to get
things you value in return. On the flip side we
need to understand that when a customer asks us
to jump through hoops for them (put together a
demo, draw me up an analysis of the benefits,
etc.) it is only fair that we now can ask for
something in return from them. Example: “We
will put together a demonstration of the
software, customized to your needs as you
requested. If the software performs and meets
all of the specifications that we discussed, will
you be prepared give us a commitment to move
ahead with the purchase that day?”
14. Never make a call without a purpose!
In order to be the most productive with your
time and the time of your prospects, customers
Summer 2006
47
and clients, have a clear purpose for each of your
calls. Don’t visit the customer without the
express purpose of bringing something of value to
the table or moving the sales cycle
forward. Don’t make a call to “just check in” or
some other nonsense. If you don’t take your call
seriously, why should they? By being able to
clearly state the purpose of your call and sticking
to it, you will become a professional worthy of
investing time and money with.
15. Look sharp!
If your product / service is similar to that of
your competitions, the little things will often be
the deciding factors when determining who to
go with and how much to pay. Don’t
underestimate the fact that people initially form
a perception about you and your professionalism
based upon your appearance before you ever get a
chance to open your mouth. If you want a
higher price, you need to look the part! (Use an
iron…it’s becoming a lost art!)
The use of these 15 points are a good start to get
you headed towards attaining quota, selling at
higher margins and thus, better commissions /
bonuses you can expect. You can see that there
are no tricks and no shortcuts. Simply applying
yourself in these areas along with, self discipline,
commitment, and a customer focused approach
will change the customer’s perception of value
regarding you and thus, your company, product
or service.
Gerry Layo is one of the nation’s most dynamic and
sought after speaker, trainer, author, and coach. Gerry
delivers energizing and innovative world-class keynote
addresses, seminars, and workshops. As Head Coach
and visionary for Sales Coach International, Gerry is
instrumental in using his unique approach to
dramatically increase growth and profits for companies
throughout North America. He is the author of top
selling book: “Smart Selling-Strategies to Reinvent the
Sales Process”. For more information visit:
www.gerrylayo.com or call 866-979-LAYO (5296)
Vol. 6, No. 3