How to Land Big Deals - The Language Decision Makers Need to Hear
In my role as a salesperson I often follow up decision makers who haven't yet decided whether or not they want to engage us, as well as approaching new prospects.
With every product or service that is sold there are reasons why we as salespeople think our prospects should buy. Sometimes we believe we know what the prospect wants to hear, only to be met with, "we don't need it", or "we can't see how it is different to what we have," or "how is it different to what the other salespeople from competitors are offering?"
We can be angry, frustrated, incredulous, we can take it personally, or we can put it down to experience and then regroup.
I learnt early on from one of my managers at Yellow Pages, that when you get to the proposal stage and you are going back for a second meeting where you hope to close a deal, then at that meeting and in your supporting documents, you need to be selling to the 'accountant'.
Your sale may be signed off by an Operations Director, or a Head of Product or Procurement, but nine times out of ten, either the CFO, the accountant, the MD, or even just key influencers are going to say to them, "how much do they want to charge us and what return will we get from it?"
Now they may have bonded well with you and you sold them on what 'floats their boat', maybe it's a technical aspect, or in my case a people development benefit, or some other advantage. The CFO is likely to be far less knowledgeable in that aspect, and he or she needs to get to grips with the potential growth in sales, the reduction in cost and the sustainability of what you are offering.
Here's 20 Phrases that are Literally Right on the Money!
(You can adapt these to suit your products/service/market.)
1) This will decrease your costs by X%.
2) You will grow and gain market share by at least X%
3) This reduces your churn rate, typically by between X% and X%.
4) You will enjoy a higher retention rate, our most successful customer now retains customers using this system for a further X months compared to the previous system they used.
5) It is an effective reducer of staff turnover.
6) This dramatically reduces your customer decision making time by 3 days, over a year, that means with your acquisition rate you could have 170 more clients by this time next year.
7) We have seen conversion rate increases from as low as 2% to 39% across our clients in the last 18 months.
8) Your Net Promoter Score is likely to bounce 9 percentage points by Easter.
9) The appetite for career progression will rocket.
10) This gives you a much faster response time of 3 hours and 27 minutes.
11) This gives you a very quick win and enhances customer loyalty as it is free to them.
12) The case studies I have provided you doesn't make this a zero risk, but compared to other things you are investing in, these make it one of the most minimized risks you've had to consider, for years.
13) You can calculate how this will cut down on your labour costs. My estimate was too low, what amount did you come up with?
14) You automatically put yourself in an attractive position to increase your average order values. One of our recent hits was with Lux Designs they are receiving a consistent increased spend of £117 per order.
15) By increasing your overall operational efficiency it increases your profit margin.
16) By removing that aspect of admin you are able to increase the amount of hours you have available to invoice.
17) This significantly reduces the time it takes for your customers to get their goods, and you to get paid. At least 30 minutes. With your order volumes remaining static you have 11,000 people paying you 30 minutes faster next year!
18) This will revitalize your teams as they will be using the very latest version and not have to grapple with the clunky aspects anymore. How much will they reward you, for removing that?
19) They will appreciate your investment in this and as far as feelings about HR, they'll know it is a direct investment in them.
20) I've considered 3 core financial benefits to your organisation, and I've written them down and committed to them. What are the top three financial benefits your FD has got excited about.
Print these out. Refer to them when you are selling on the phone or via Chat or when you are crafting emails and proposals. Keep these in Evernote or your preferred note taking method on your phone, so before a meeting you can be clear on the benefits to the customer, and how they far outweigh the investment.
As Zig Ziglar says: "You can only sell something to someone when you are convinced that it is worth more to them, than the money you are asking for it."