9. July 2009 by Lynn Hidy.

Here is an article by Tesa Stowe which resonated so much with me and my philosophies on why people are AND aren’t buying today that I wanted you to have the opportunity to read it as well.

Lynn’s Philosophy? Today prospects and customers are asking themselves:

Is the risk of doing something (anything) greater than the risk of doing nothing

©Tessa Stowe, Sales Conversation, 2009

Is it risky to buy from you? This is the question your prospects will be asking themselves before they buy from you.

They want to know that you are capable of delivering the results they want and that you will actually deliver them. No matter how good your product is, if you are perceived as risky, your prospect will not buy from you.

Conversely, people will knowingly buy inferior products if they perceive the risk is less and that there is more of a guarantee they will get the outcome they are looking for.

Risk is a huge deciding factor, so how do you convey that you are the lowest-risk solution? Here are five strategies:

Strategy #1: Brainstorm all the reasons why you are the lowest-risk solution for your prospect.

Why are your prospects assured of getting the outcomes they want from your solution? What specific features of your product assure them they will get that outcome? What support do you offer that ensures they will get that outcome? Why should they feel assured you will be around next year to support them? You must be crystal-clear in your own mind about why you are the lowest-risk solution before you can explain it to your prospect.

Strategy #2: Brainstorm all the reasons why your prospects might perceive you as a risky solution.

Put yourself in their shoes. Be honest with yourself. If you were your competition, what would you say about the risk of your solution?

Now reframe that risk so it is not a risk. Turn it completely around to something positive. De-risk the risk!

In 2002 I was selling a billing solution to a telecommunications company. We were perceived by the prospect as high-risk as we had no references and we were using new, very advanced, technology.

I reframed that risk and told my prospect that we were actually the lowest-risk solution because we had the advanced technology that no one else had implemented. I went on to explain that, because this new technology would help them get ahead of their competition, it represented the lowest risk because it minimized the risk of competition in the future. They saw my point, and this was a major reason for their decision to buy the solution . . . for several million dollars, I might add.

You must name the elephant in the room, so to speak. Turn the perceived risk around to your advantage.

Strategy #3: Be prepared with customer testimonials and case studies that talk about specific results.

The more customer testimonials and case studies you have, the more comfortable your prospect will feel and the less risky you will be perceived. Even if you have only one or two, they can be powerful risk- minimizers.

Strategy #4: Make sure your true intent is to help your prospects get what they want, not to sell them something.

Always - and I mean always - act in alignment with this intent. If you do, your prospects will trust you. When your prospects trust you, they will perceive you as less risky.

Strategy #5: Have a very open conversation with your prospect and tell them you are the lowest- risk solution and why.

Tell your prospects all the reasons why you are the lowest-risk solution, including those risks you have turned around in Strategy #2.

Go into as much detail and depth on each point as you need to in order to make them feel comfortable. Ask them if they are confident in the reasons you have mentioned or if they still have questions. If you have built rapport and trust, they will tell you in what areas they still perceive you are risky. This conversation can be a very revealing - and rewarding - one.

Implement these five strategies and your prospects will see you as the lowest-risk solution- and maybe even the no-risk solution. More sales are sure to follow.

Tessa Stowe teaches small business owners and recovering salespeople simple steps to turn conversations into clients without being sales-y or pushy. Her FREE monthly Sales Conversation newsletter is full of tips on how to sell your services by just being yourself. Sign up now at www.salesconversation.com.

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7. May 2009 by Lynn Hidy.

Hello, I read this article by Tessa Stowe of Sales Conversations this week and thought it easily translated into inside sales.  What I think is most critical is her idea near the very bottom:

Even if you think you know the consequences…. don’t tell your prospect

It is so much more powerful to be in a conversation, ask questions, and have the prospect tell you why it is critical for them to take action now! Enjoy the article, Lynn

As I mentioned above, people are holding on to their money in case they need it for emergencies or for survival. So, if you can link the purchase of your solution to an emergency or survival, you might just get your prospect’s attention, and they will be motivated to buy now.

How do you make that link?

You make the link by focusing on consequences. If your prospect does not take action and buy your solution now, there are going to be consequences as a result. What are these consequences? What will those consequences be to his/her revenue, costs, competitiveness, or viability in three months, six months, and 12 months? What sort of pain or emergency will these consequences create? How will these consequences impact their ability to survive in an evolving economy?

Remember, only BIG consequences motivate people to buy now. So, starting now, if you want to motivate people to buy now, think about and find BIG consequences.

For each and every prospect for your solution, determine the specific consequences he/she might incur if they don’t take action right now. How? You find out these specific consequences by asking lots of questions.

Even if you think you know the consequences if your prospect takes no action, don’t tell your prospect the consequences. First, you don’t know their business well enough to list their specific consequences. Second, if you tell your prospect the consequences, he or she will probably decide that such consequences do not apply to them.

Provided it is clear your intention is to help your prospect - versus to sell them your solution - with careful questioning, your prospect will tell you the consequences of his indecision to purchase your solution right now. In fact, with careful questioning, you will probably find that this is the first time that he/she has really thought through the consequences of inaction if they don’t solve this particular problem. They will probably be grateful to you for taking the time to help them get this clarity!

Provided you have uncovered BIG consequences - consequences that will create an emergency or that will impact survival - your prospect will be motivated to take action now, even in today’s economic conditions.

Start today - focus on uncovering BIG consequences, and you will motivate your prospects to buy from you now.

Tessa Stowe teaches small business owners and recovering salespeople simple steps to turn conversations into clients without being sales-y or pushy. Her FREE monthly Sales Conversation newsletter is full of tips on how to sell your services by just being yourself. Sign up now at www.salesconversation.com.

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14. November 2008 by Lynn Hidy.

This is a great article by Kendra Lee of the KLA Group! If you ever have a chance to attend one of her presentations - take it. Her down to earth style and actionable ideas are well worth it, check it out:

Selling is a lot like baking. I love to bake. Every Sunday I make 3 batches of chocolate chip cookies for my family of three growing boys. Friends who stop by know the cookie jar will be full and ask to dip in. No kid or adult is immune and they can never stop at just one.

Yum! These are good. Do you use real butter?

What kind of chocolate chips do you use?

How do you get them so soft?

I shouldn’t have another, but may I? Can I please have another?

Even though my homemade chocolate chip cookies are definitely not low fat, people eat two, three and four at a time - more than they ever intended, but what the heck? Their senses take over as the cookie melts away in their mouth. And their hesitation goes out the door.

Your clients are the same way. If they love, love, love your consultative recommendations, advice, and observations they’ll buy more and more. Make their job easier. Check in on them even if you aren’t working a current opportunity. Bring them new ideas and make recommendations you believe will best fit their businesses. Always be willing to listen and brainstorm. Help them financially justify their investment while only selling solutions that will benefit their businesses.

Sell your value. Show your clients the value of working with you. No doubt you hear these phrases every day. But when clients are pressuring you for a price break, it isn’t always as easy as it sounds.

Will clients really pay more to buy your stuff? Yes! They buy Starbucks and Krispy Kreme donuts instead of generic because they value the taste. They’ll buy your value, too, if you appeal to their senses.

While your clients’ budgets may say they should shop around, or they shouldn’t buy that extra service level, they will buy - and buy from you. They’ll do it because they feel confident in decisions you help them make. They can taste the success you’re helping them achieve melting in their mouth.

The memory of that success lingers, just like the memory of a homemade chocolate chip cookie.

In my opinion, if you’re going to take the time to make homemade cookies, you shouldn’t skimp on the ingredients to save calories or money. If you skimp, they’re no better than the packages or tubes you can buy at the store - and definitely not worth the effort to make or eat. Adults don’t see any reason to eat them. Kids will pass them by; and they certainly aren’t going to recommend them to their friends.

The fact that I perfected my recipe over years, and don’t skimp on the ingredients or the time to make them, has my family not just satisfied but bragging. Friends are coming back for more. New friends are coming out of the woodwork.

Your value will linger, too.

Your client will not only pay for your value, but tell everyone they know about how pleased they are! Before you know it, you’ll have a great testimonial for proposals, an eager reference, and referrals flowing your way.

I was speaking with a client this week who actually apologized for spreading our name “all over the place!” He said he probably should have told me so I could prepare our team, but he’d been so busy he hadn’t had a moment. He’d sent some referrals to look at our website and listen in on some audio conferences we were running. He hoped that was okay with me.

Okay? That’s value as good as a homemade chocolate chip cookie!

Kendra Lee is author of “Selling Against the Goal” and president of KLA Group. Specializing in the IT industry, KLA Group helps companies rapidly penetrate new markets, break into new accounts and shorten time to revenue with new products in the Small & Midmarket Business (SMB) segment. Ms. Lee is a frequent speaker at national sales meetings and association events. For more information, contact the company at +1 303.741.6636 or info@klagroup.com or visit www.klagroup.com.

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